Category: Technial Analysis
EURUSD, “Euro vs US Dollar” The currency pair is consolidating around 1.0915. Today the range could extend to 1.0935. Then a decline to 1.0882 and growth back to 1.0915 could follow. If the price breaks the range downwards, a new wave of decline to 1.0794 could begin. GBPUSD, “Great Britain Pound vs US Dollar” The […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes have broken the 200-day Moving Average and are now above it, which indicates possible development of an uptrend. The RSI has rebounded from the support line. In these circumstances, the quotes are expected to break 6/8 (134.37) and rise to the resistance at 7/8 (135.93). […]
Daily Market Outlook, April 12, 2023 Markets Marking Time Ahead of CPI & FOMC Minutes Combo Asian equities produced another subdued session taking their lead from lacklustre trading on Wall Street as investors pare risk exposure ahead of today’s double whammy of US inflation data followed by the minutes from the FOMC meeting. The Nikkei […]
More Pessimism From IMF The latest update from the International Monetary Fund yesterday makes for fairly bleak reading. The group was seen cautioning over the downside risks to global growth this year as a result of a combination of factors. Global GDP is now forecast to rise just 2.8% this year, following the latest downward […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The target for the decline might be 1.3390. Then the price could break this level and continue the downtrend. However, the price may pull back to 1.3510 […]
The British pound against the US dollar is balancing at zero gravity. The current quote is 1.2446. The pound looks extremely discursive. It has strong fundamental support in the form of new British trade agreements and the weakness of the US dollar. However, investors seem unwilling to use these factors. At the same time, the […]
Retail Heavily Short The retail market is holding a large short position in EURAUD, currently sitting around the 85% level. However, EUR has emerged as one of the strongest performers today suggesting plenty of potential for the pair to continue trading higher, extending the bull trend which has described price action over recent weeks. The […]
TitleEURUSD H4 | Potential reversal from 1st resistance TypeBearish Reversal Preference: Price is currently at our pivot of 1.09266 which is an overlap resistance along with 61.8% Fibonacci retracement. A reverse from here price could drop to 1st support at 1.08756 Alternative scenario:On the other hand, if break above this level could potentially propel the […]
EURUSD, “Euro vs US Dollar” EURUSD is growing in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0870 is expected, followed by growth to 1.1105. An additional signal confirming the growth will be a rebound from the lower […]
By Wednesday, the BTC has risen to 30,015 USD. The weekly growth is estimated as 4.8%. But this is not the most important thing. Most importantly, the leading cryptocurrency has finally tested the significant level of 30,000 USD. The local maximum was 30,483 USD. The priority now is to secure above 30,000 USD. The nearest […]