SPX chart formed a double top on all time high. We can see an RSI divergence on short and long term too(H4 and daily chart). The price moving in ascending triangle on the daily chart. The second target is the triangle's lower line (daily uptrend line).
My last analysis was correct and the pair return to the 618 fibonacci level(1.1), and formed a bullish butterfly harmonic pattern on the H4 chart. I think the bears don't have enough power to break this level downward, and the price will go upward to 1.11. If that happen the price breaks the downtrend line, and we can wait for a backtest to this trend line near 1.106.
The US stock indices upward momentum has weakened
The EURUSD Bullish rally can support the GOLD
The US stock market indices are approaching the highest ever, but the upward momentum has weakened and downward correction may follow. In addition, EURUSD may expect a higher upward adjustment. The pair on the last week returned to the 1.093 support level, and from...
The RBA lists a number of risks that require lower interest rates.
Market-based expectations suggest market participants have not fully priced the October cut.
The pair may have reached the buy peak
The Australian Central Bank at its September meeting strongly signaled that interest rate cuts could be expected next month (October 1)
Minutes of the meeting...
My last analysis on this pair was right and now EURUSD reached 1.11 support/resistance zone. With this move the price has broke out the H4 chart downtrend line and arrived to 38.2% fibonacci zone. On this level the RSI is high(70%), so i think the price don't break this resistance for first try, so we can wait a little reduction before the breakout. If the...