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Forex

EUR/USD Forecast: Correction Underway

The currency pair EUR/USD rebounded from the upper boundary of the daily range. The asset is heading down now. The currency pair might potentially undergo correction around the supporting level of...

USDJPY H4 | React off resistance level

TitleUSDJPY H4 | React off resistance levelTypeBearish ReversalPreference:Price is approaching our pivot point at 1.34188 which is an overlap resistance that lines up with 23.6% Fibonacci retracement....

Daily Market Outlook, May 10, 2023

Daily Market Outlook, May 10, 2023Asian equity markets maintained a muted tone overnight, mostly in the red after a lacklustre handover from Wall Street, where Fed officials comments were deemed more...

Dollar Index Dips While EURUSD Climbs Following US Inflation Report

The dollar took a nearly half-percent dip, while EURUSD climbed above 1.10 following the US inflation report. Market expectations were quite pessimistic ahead of the report, as preliminary data, such...

USD Shorts Stretched Ahead of US CPI Release

US CPI On Watch Today’s US inflation reading comes at an interesting time for the market. Against a backdrop of the ongoing debt ceiling standoff, USD has stagnated in recent sessions. Indeed, looking...

GBPUSD Holding Near Highs Ahead of BOE Tomorrow

BOE OutlookGBPUSD is holding near recent highs today ahead of the BOE meeting tomorrow. The BOE is widely expected to hike rates a further .25% on the back of recent CPI data which showed inflation...

USDJPY H4 | React off resistance level

TitleUSDJPY H4 | React off resistance levelTypeBearish ReversalPreference:Price is currently at our pivot point of 135.368 which is an overlap resistance level that lines up with 38.2% Fibonacci...

Daily Market Outlook, May 9, 2023

Daily Market Outlook, May 9, 2023Asian equity markets traded with a mixed tone overnight after a subdued handover from Wall Street, the much anticipated Senior Loan Officers Opinion data suggested...

USDCHF H1 | React off 61.8%

TitleUSDCHF H1 | React off 61.8%TypeBearish ReversalPreference:Price is approaching our pivot at 0.893 which is a pullback resistance level that lines up with 61.8% Fibonacci retracement. A reverse...