Category: Technial Analysis
The BTC on Monday dropped to 27,455 USD. Over the week, the coin has lost 8.21%. Regardless of such a feeble and dull decline, in the medium run, the BTC still has good chances for recovery. An eye should be kept on the support area between 26,500 and 27,000 USD. Active buying might start from […]
XAUUSD, “Gold vs US Dollar” Near the support, gold has formed an Inverted Hammer reversal pattern. Currently, the instrument can go by the reversal pattern in an ascending wave. The target for the growth will be 2015.00. After testing the resistance, the price will have a chance to break it and continue the uptrend. However, […]
The Japanese yen against the US dollar has put its decline on pause but looks unstable. The current quote is 134.13. The block of statistics on Friday came out neutral. The base CCI in March grew 3.1% y/y as expected. Official inflation last month amounted to 3.2% y/y as forecast, while a month before it […]
EURUSD, “Euro vs US Dollar” EURUSD is pushing off the signal lines of the indicator. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower border of the Cloud at 1.0965 is expected, followed by growth to 1.1205. A signal confirming the growth will be a rebound from […]
TitleUS30USD H4 | Bounce from 61.8% Fibo TypeBullish Bounce Preference:Price is approaching our pivot point of 33644.74 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 34112.12. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 33329.16. To discuss this trading […]
TitleUSDCAD H4 | Potential reverse from 50% Fibo TypeBearish Reversal Preference:Price is nearing our pivot at 1.35579 which is an overlap resistance level that lines up with 50% Fibonacci retracement. A reverse from here price could falling to 1st support at 1.33265 which is swing low support level. Alternative scenario:However, if it breaks above it […]
Daily Market Outlook, April 21, 2023 A mixed bag of earnings Stateside left investors somewhat subdued coupled with soft US data and another round of hawkish Fed rhetoric there was little to inspire risk appetite, Asian equity markets followed suit with most regional bourses trading in the red, the Shanghai Comp is the stand out […]
TitleAUDUSD H4 | Potential reversal TypeBullish Bounce Preference:Price is approaching our pivot point of 0.66791 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.67605. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.6623. To discuss this trading idea, head […]
GBP Falls on Soft UK Data GBPCHF is on watch today with the retail market holding a more than 80% long position in the pair. We’ve been trending lower since the early April highs and the current backdrop looks favourable for further shorts near-term. GBP is on the ropes following the latest UK data which […]
AmEx Shares Drop The main story from US earnings season yesterday was the volatility we saw in American Express shares as traders reacted to its Q1 earnings report. The company posted Q1 EPS of $2.40, down against the $2.65 the market was looking for and down sharply against the $2.73 posted a year earlier. Revenues […]