Category: Technial Analysis
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 […]
Mixed Data Poses Questions For Economic Outlook The latest set of UK and eurozone PMI readings released today offered mixed views over the economic outlook for both. Service sector readings for both were seen improving in the flash reading for April while manufacturing readings were seen plunging further into negative territory. Given the higher interest […]
TitleEURUSD H4 | Falling to support TypeBullish Bounce Preference: Price is failing to reach our pivot point at 1.09127 which is an overlap support level and lines up with 61.8% Fibonacci retracement. Price could rally to our 1st resistance at 1.09813, which is multi swing high resistance. Alternative scenario:However if price breaks break below the […]
Retail Sales Slide in March GBP is under pressure today on the back of a negative set of UK retail sales released this morning. March retail sales came in at -0.9%, down sharply from the prior month’s 1.1% reading and worse than the -0.5% the market was looking for. UK economic concerns have been a […]
Brent On H4, Brent quotes have broken the 200-day Moving Average and are now below it, which indicates probable development of a downtrend. However, the RSI is already in the oversold area. As a result, the price is expected to break 2/8 (81.25) and next, reach the resistance at 3/8 (84.38). The scenario can be […]
EURUSD, “Euro vs US Dollar” On H4, near the support level, EURUSD has formed a Harami reversal pattern. Currently, the pair can go by the reversal signal in an ascending wave. The target for the correction will be 1.1050. However, the quotes may correct to 1.0910 and continue the uptrend after testing the support. USDJPY, […]