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DXY: The DXY (US Dollar Index) chart currently reflects bullish momentum, indicating a potential scenario of a bullish continuation towards the 1st resistance. The 1st support level at 103.87 is recognized as an overlap support, coinciding with the 23.60% Fibonacci Retracement level. This convergence suggests a historically significant area where buying interest has previously emerged, […]

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05/06/2024

NZDUSD Extends Recovery to Fresh Highs

NZDUSD posts an almost 3-month high on Tuesday But the risk of an impending correction increases Oscillators approach overbought conditions NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April. On Tuesday, the pair stormed to its highest level since March 8 before sustaining minor losses probably due to some profit taking. […]
21/03/2024

Gold Wave Analysis

Gold reversed from key support level 2150.00 Likely to rise to resistance level 2197.00 Gold earlier reversed up from the key support level 2150.00 (former strong resistance, which stopped the earlier upward impulse wave (1) in December). The upward reversal from the support level 2150.00 started the active impulse wave 3, which belongs to the […]
12/11/2024

EURUSD Wave Analysis

EURUSD under bearish pressure Likely to fall to support level 1.0600 EURUSD currency pair is under bearish pressure after the earlier breakout of the key support level 1.0685, which has been reversing the price from the middle of June. The breakout of the support level 1.0685 should strengthen the bearish pressure on this currency pair. […]