Category: Technial Analysis
TitleETHUSD H4 | Resistance overhead TypeBearish Reversal Preference:Price could approach our pivot point of 1927.35 and potentially reverse from here, we could see momentum carry price down to its 1st support of 1804.63. Alternative scenario:f price breaks above the pivot point, it could hit the 1st resistance of 1965.7. To discuss this trading idea, head […]
Fed Signals Likely Pause Bitcoin is trading higher today on the back of the May FOMC yesterday but hasn’t quite seen the breakout move that many were hoping for. The Fed was seen hiking rates by a further .25%, as expected along with announcing a move to a data dependent stance on any further rate […]
By Friday, the BTC has risen to 29,208 USD. The weekly growth of the leading cryptocurrency is modest, of just 0.77%. Overall, the technical picture looks to be to the bulls’ benefit if we do not focus too much on the correlation with the US stock market. To skyrocket, the buyers need to test 31,000 […]
EURUSD, “Euro vs US Dollar” On H4, near the support level, the pair has formed a Hammer reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The growth target could be 1.1100. However, the price may correct to 1.1010 and continue the uptrend after testing the support. USDJPY, “US […]
Title USDJPY H1 | Bounced off 1st support Type Bullish Breakout Preference: Price is currently at our pivot 134.47 which is a pullback support level that lines up with 78.6% Fibonacci retracement. A bounce from here price could pish up to 1st resistance at 135.103 which lines up with 23.6% Fibonacci retracement Alternative scenario: However, […]
Daily Market Outlook, May 4, 2023 As widely expected the US Federal Reserve raised interest rates by 25bps at their meeting last night, in his press conference the Fed Chief Powell was reticent about the notion of any Fed rate cuts into the back of the year, Powell’s rhetoric during the press conference certainly hinted […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.3530 is expected, followed by a decline to 1.3345. An additional signal confirming the decline will be a rebound from […]
EURUSD, “Euro vs US Dollar” The currency pair completed a declining wave to 1.0985. Today the market has performed a link of growth to 1.1044. A consolidation range is forming around this level at the moment. If the price escapes the range upwards, it may rise to 1.1077. If the range breaks downwards, the potential […]
Traders Brace For ECB Today’s ECB meeting holds the potential to create plenty of fireworks. On the back of the Fed signalling a pause along with yesterday’s .25% hike, the ECB is expected to push ahead with its own .25% hike. However, the bank is expected to retain a more hawkish tone than the Fed […]
The price of the currency pair EUR/USD keeps moving within the resistance area formed between the levels 1.1000 and 1.1075. Let’s observe when the asset price will exit this zone and make the next move. Bitcoin is undergoing correction towards the supporting level of 25200. It would be interesting to follow the price movements around […]