Category: Technial Analysis
The second estimate of Eurozone GDP for the first quarter came in line with expectations, showing a modest quarterly growth of just 0.1% and a YoY output gain of 1.3%. However, the ZEW Economic Sentiment Index for the Eurozone and Germany fell more than anticipated, indicating worsened sentiment. With EURUSD nearing 1.09, buyers remain cautious […]
TitleUSDCHF H4 | Bullish bounce from 61.8% Fibo TypeBullish Bounce Preference:Price is approaching the pivot point of 0.8913 and could potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.89857. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.88677. To discuss […]
The Australian dollar is declining against the US dollar. The current AUDUSD quote is 0.6667. According to the minutes of the last meeting of the Reserve Bank of Australia, at the meeting, the regulator considered the option of raising the interest rate by 25 basis points or making a pause. In the end, the interest […]
The most traded currency pair in the market has stabilised after the preceding decline. The current EURUSD quote is 1.0880. The focus of the market remains on the US public debt situation. Time is running out: by 1 June, the federal government will run out of money to pay for its spending. Congress returned to […]
Bullish Bias for Gold Gold prices are holding around the middle of the 1973.51 – 2069.41 range following the correction lower from 2069.41 highs. Prices have corrected lower recently amidst an uptick in USD attached to unexpected strength in US consumer inflation expectations and some Fed pushback against rate cut expectations. USD has also been […]
US Retail Sales Next On the back of yesterday’s Empire State Manufacturing reading, focus today shifts to the latest US Retail Sales data. Following the negative readings seen over the prior month, the market is expecting a firm rebound in today’s data, reflected increased consumer activity amidst the decline in inflation recently. On the numbers […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of correction to 1.0890. Today the market is forming a consolidation range under this level. An escape from the range upwards and a structure of growth to 1.0920 are not excluded, followed by a decline to 1.0833. And if this level also breaks […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 3/8 (0.6683) is expected, followed by a decline to the support level of 1/8 (0.6622). The scenario can […]
Unemployment Rises GBP has seen plenty of volatility over the European open on Tuesday as traders digest the latest UK jobs data. The unemployment rate was seen increasing to 3.9% from 3.8% prior while the claimant count change was seen rising to 46.7k from 28.2k prior, well above the 31.2k the market was looking for. […]
Bitcoin is still undergoing correction. The asset has closely approached the supporting level of 25200. Bitcoin is likely to rebound from this level and jump. It might also break the support. So, it might be interesting to observe the price movements next to this level. Silver has dived under the supporting level of 24.75, forming […]