Daily Market Forecast By Capitalcore

AUDUSD Price Action: Key Support and Resistance Levels

The AUDUSD currency pair, commonly known as the "Aussie," represents the exchange rate between the Australian dollar and the U.S. dollar. As of November 5, 2024, the pair is influenced by several key factors. The U.S. presidential election has introduced uncertainty, with polls indicating a tight race between candidates, potentially impacting market volatility and the U.S. dollar's strength. Additionally, the Reserve Bank of Australia (RBA) is expected to maintain its cash rate at 4.35%, reflecting steady economic growth and persistent core inflation. These events are likely to affect the AUD/USD exchange rate in the near term.
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Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Analyzing the AUD/USD 4-hour chart, the pair has been in a bearish trend but is showing signs of reversal. Out of the last 25 candles, 12 have been positive, including the most recent two, indicating bullish momentum. The price is currently moving between the 0 and 0.236 Fibonacci retracement levels, approaching the 0.236 line, suggesting potential upward movement. The current candle is positioned in the upper half of the Bollinger Bands, and the Relative Strength Index (RSI) is trending upwards, reinforcing the bullish outlook.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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EURUSD Price Action Approaches Key Fibonacci Level

The EUR/USD forex pair, often nicknamed "Fiber," is one of the most traded currency pairs in the forex market, reflecting the economic relationship between the Eurozone and the United States. Today, the Euro may react to economic data releases like the S&P Global's PMI for the Eurozone, a key gauge of manufacturing health. As PMI readings above 50.0 suggest expansion and below indicate contraction, stronger-than-expected numbers could lend support to the Euro by hinting at economic resilience. Conversely, weak PMI data might add downward pressure on the Euro, signaling a slowdown. Meanwhile, U.S. data, including the Federal Reserve's lending standards and Census Bureau’s manufacturing orders, will also provide insights into the USD's strength, possibly driving EUR/USD volatility.
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Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h.
Analyzing the EUR/USD H4 chart, we observe the price moving within a bullish channel, showing signs of shifting from a previous bearish trend. The Fiber’s price is currently trading near the 0.786 Fibonacci retracement level at approximately 1.0880, indicating a potential reversal point. Bollinger Bands show the price in the upper half, suggesting moderate bullish momentum, while the recent gap at market open highlights renewed buying interest. Despite the last two bearish candles at the close of last week, the current price movement within the channel suggests further bullish potential if it breaks the 0.786 level. The RSI is positioned near the 58 level, indicating a bullish sentiment but not yet in overbought territory, leaving room for continued upward movement.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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USDJPY Bulls Eye Higher Resistance Levels

USDJPY, often regarded as a key indicator of market sentiment between the U.S. Dollar and the Japanese Yen, reflects the contrast between the USD’s strength backed by a robust U.S. economy and the JPY’s status as a safe-haven currency with historically low interest rates. The USDJPY pair on the H4 chart shows a clear bullish trend as it continues to trade above key support levels, with price action forming higher highs and higher lows. The pair is currently testing a resistance level at 152.800, with further resistance at 153.000 if the uptrend persists. The price remains above the Ichimoku cloud, a strong indication that bullish momentum is intact, while the RSI hovers near 58, indicating room for further upside before reaching overbought conditions. Despite the upward momentum, a break above the immediate resistance would solidify the bullish outlook.
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Chart Notes: 
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Fundamental pressures add to the bullish outlook, with stronger-than-expected U.S. inflation data supporting the USD, particularly the Core PCE Price Index at 0.3% versus 0.1% expected, which bolsters the likelihood of a hawkish stance from the Federal Reserve. Meanwhile, the Bank of Japan’s decision to maintain its ultra-low policy rate contrasts sharply with the Fed’s approach, putting further pressure on the JPY. Any retracement attempts may find support at 151.450 and 148.900, but the prevailing uptrend remains strong unless there is a shift in economic sentiment or a technical reversal signal.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.


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AUDCHF H4 analysis: Bearish Momentum

AUDCHF, sometimes referred to as the “Aussie-Swiss,” represents the exchange rate between the Australian Dollar and the Swiss Franc, a pair often influenced by risk sentiment due to the AUD’s commodity-linked nature and the CHF’s safe-haven status. The AUDCHF pair on the H4 chart shows a clear bearish trend as it continues to trade below key resistance levels, with price action forming lower highs and lower lows. The pair is currently consolidating near a support level at 0.56666, with further supports at 0.56400 and 0.56075 if the downtrend persists. The price remains beneath the Ichimoku cloud, a strong signal that bearish momentum is intact, while the RSI hovers near 34, suggesting the pair is approaching oversold conditions. Despite nearing oversold territory, there’s no concrete sign of a reversal yet, so a break below the immediate support could lead to further declines.
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Chart Notes: 
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Fundamental pressures add to the bearish outlook, with weaker-than-expected Australian inflation data weighing on the AUD and supporting the Swiss Franc as a safe-haven. Global uncertainties continue to drive demand for the CHF, while the Australian Dollar faces potential further weakness if the Reserve Bank of Australia signals a dovish stance in response to slowing inflation. Any rebound attempts may face resistance at 0.57050, 0.57150, and 0.57375, but the prevailing downtrend remains strong unless we see a shift in economic sentiment or a technical reversal signal.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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Analyzing USD/CAD H4 Chart Ahead of U.S. Data

The USD/CAD currency pair, often called the "Loonie," is one of the major forex pairs traded globally, representing the value of the US dollar against the Canadian dollar. The USD/CAD fundamental analysis today is influenced by economic data from both countries, such as U.S. durable goods orders and Canadian retail sales figures, which are critical indicators of economic performance and consumer activity. Today’s Loonie news analysis has its focus on the U.S. durable goods data and the University of Michigan Consumer Sentiment, which may signal shifts in economic confidence and manufacturing trends. Strong U.S. data could boost the USD, pushing the pair higher, while disappointing figures may weaken the dollar, potentially leading to a decline in the USD/CAD exchange rate. On the Canadian side, traders will also monitor upcoming retail sales data and housing price indices. Strong retail sales figures could strengthen the CAD, as it would suggest robust consumer spending, the backbone of the Canadian economy. Conversely, if the data underperforms, it may weigh on the CAD, allowing USDCAD’s bullish trend to continue.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the USD/CAD H4 chart, the pair’s technical forecast today with confirmation from the Ichimoku Cloud and MACD indicators, reveals a nuanced picture. The Ichimoku Cloud shows that the price is currently above the cloud, indicating a bullish trend, but with recent candles hovering close to the cloud's upper boundary, suggesting a potential test of this support level. If the pair’s price keeps trading above the cloud, it could signify continued bullish momentum, while a break below might signal a bearish shift. The MACD indicator shows the histogram hovering near the zero line, with the MACD line and the signal line close to each other, indicating a lack of strong momentum and possible consolidation. If the MACD line crosses above the signal line and gains upward momentum, it could confirm a bullish continuation; otherwise, a downward cross may suggest increasing bearish pressure ahead.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

GBPCAD Forecast: Impact of BOE Discussions Today

GBPCAD, a forex pair that tracks the British Pound (GBP) against the Canadian Dollar (CAD), has its daily news analysis influenced by both the UK’s economic developments and Canada’s energy-driven economy. Often referred to as a "cross pair," GBPCAD is particularly sensitive to events from both the Bank of England (BOE) and the Bank of Canada (BOC). Today’s focus includes BOE Deputy Governor Sarah Breeden's and Governor Andrew Bailey's participation in discussions at the IMF and World Bank meetings. Any hints on future monetary policy or rate decisions may provide volatility for the GBP, impacting the GBP/CAD forecast. In parallel, traders should keep an eye on Canada's monetary outlook, as any signals from the BOC can influence the CAD's value, affecting this pair’s fundamental outlook.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The GBP/CAD H4 chart indicates that the pair’s price action has shown some volatility recently. The Bollinger Bands reveal that the last five candles have transitioned from the lower band towards the middle band, suggesting a short-term bullish correction. Out of these candles, three were bullish, but the recent two candles have turned bearish after touching the middle band. This indicates a rejection from the middle band and the persistence of bearish pressure. The widening of the bands suggests increased GBPCAD volatility, while the RSI remains neutral, hovering around the 50-level, indicating indecision and potential further price action testing the middle Bollinger Band.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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GBPCAD Forecast: Impact of UK Inflation Data

The GBP/CAD currency pair, often referred to as "The Beast" due to its volatility, involves the British Pound (GBP) and the Canadian Dollar (CAD). This pair’s news analysis is influenced by both the UK's macroeconomic factors and the price of oil, which impacts the Canadian economy heavily. With today's upcoming news on the UK’s Consumer Price Index (CPI) and Producer Price Index (PPI), both of which are key inflation indicators, traders are likely to monitor how these reports could affect the Bank of England's stance on monetary policy. If the actual figures come in higher than expected, the GBP could see a boost due to potential interest rate hikes aimed at controlling inflation. On the CAD side, data from Canada’s housing sector and manufacturing sales will also be significant, as strong numbers here could bolster the Canadian dollar.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
As for the pair’s technical analysis, examining the GBP/CAD H4 chart and the MACD indicator highlights its recent price movements. The last five candles have moved from the lower part of an upward channel towards the middle, showing three consecutive green candles followed by two red ones. This shift suggests a weakening of the GBPCAD bullish trend. The MACD indicator is also showing signs of bearish momentum, as the lines converge, and the histogram reflects decreasing upward momentum. The overall pattern suggests that while the price has pulled back slightly, it remains within the channel and could either continue downwards or find support for a bullish rebound depending on upcoming economic data.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

EUR/USD Forecast: Impact of Fed and ECB Policies

The EUR/USD forex pair, often referred to as "Fiber," is one of the most liquid and widely traded currency pairs in the world, reflecting the economic relationship between the Eurozone and the United States. Traders closely watch both the European Central Bank (ECB) and the Federal Reserve for monetary policy decisions that impact this pair. Today, EUR news from Destatis on the trade balance is expected to influence the EURUSD market sentiment, as a positive number could boost the Euro. Meanwhile, a series of speeches from key Federal Reserve members, including Philip Jefferson and Raphael Bostic, could provide insights into the future direction of U.S. interest rates, with any hawkish tone likely to support the USD, putting pressure on the Fiber’s exchange rate.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the uploaded EUR/USD H4 chart, the MACD shows signs of the pair’s weakening bearish momentum, as the histogram bars have reduced in size, signaling a possible shift in its market sentiment. Although the MACD line remains below the signal line, the reduction in downward pressure indicates that the bearish trend might be slowing down. Additionally, the Stochastic RSI is in overbought territory, suggesting that the recent upward correction may be nearing exhaustion, and a potential reversal to the downside could be on the horizon. Together, these indicators point to a cautious EUR/USD technical outlook, with the possibility of a bearish continuation if overbought conditions persist.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

USD/CAD Bullish Momentum on H4 Chart

The USD CAD currency pair, also known as the "Loonie," represents the exchange rate between the US dollar (USD) and the Canadian dollar (CAD). As a major forex pair, it is influenced by a variety of economic factors from both countries, including energy prices, monetary policies, and economic data releases. The Loonie pair is often traded by investors looking to capitalize on the strength or weakness of the US dollar relative to the Canadian dollar, with a particular focus on macroeconomic trends and oil price fluctuations.
Today's economic calendar includes significant data releases such as the US Non-Farm Payrolls (NFP) and Unemployment Rate, which are likely to have a strong impact on USD performance. An increase in NFP or a lower-than-expected Unemployment Rate would bolster the USD, potentially pushing USDCAD price higher, while weaker-than-expected data could weigh on the currency. Meanwhile, Canada’s Ivey PMI, a key gauge of business conditions, is also in focus. A stronger-than-forecast reading from the PMI would be bullish for the CAD, potentially limiting any USD strength. Additionally, hawkish comments from John Williams of the Federal Reserve could boost the dollar as traders anticipate tighter monetary policy in the future. All these factors create a high level of volatility in the USD/CAD market, making today a key moment for traders of the pair.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the technical side, the USD/CAD H4 chart shows a clear bullish trend, with 8 of the last 10 candles closing in the green. The price is currently testing the 0.382 Fibonacci retracement level at 1.35534, with bullish momentum pushing towards higher levels. The MACD histogram is showing increasing bullish momentum, and the MACD lines are in the process of a bullish crossover, signaling continued upward pressure. The Awesome Oscillator (AO) is also positive, reinforcing the bullish sentiment. The USD/CAD price is trading within a rising channel, indicating a steady uptrend, and if it breaks through the 0.382 Fibonacci level, the next resistance is likely at the 0.236 level around 1.35800. Overall, the chart signals potential further upside, but the 1.35534 level remains a crucial hurdle for bulls to overcome.

DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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GBP/USD Forecast: Downside Risk as Channel Breaks


The GBP/USD pair, commonly known as “Cable,” is one of the most traded forex pairs in the global currency market, representing the British Pound and the US Dollar. Traders focus on key economic data from both countries, as the pair reacts strongly to macroeconomic indicators, central bank actions, and geopolitical developments. This currency pair’s movement is often influenced by the monetary policies of the Federal Reserve (Fed) and the Bank of England (BoE), making it sensitive to both economic news and interest rate decisions. The GBP/USD fundamental outlook today will as always be highly impacted by today’s key releases from the US, including the ADP employment report, which gives early insights into job creation before the official US government data. A stronger ADP report would favor the US Dollar, leading to potential bearish pressure on the GBP/USD trading environment. Additionally, speeches by various Federal Reserve members, such as those from the Cleveland and St. Louis branches, could shed light on future interest rate policies. Any hawkish commentary would strengthen the dollar, putting further downward pressure on the pair. For the GBP side, the market will closely watch the BoE’s recent stress test results to gauge financial stability, which could affect the pair’s volatility.
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Chart Notes: 
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Looking at the GBP/USD H4 chart, the price has been moving in a channel, but its recent price action shows a break of the channel’s lower boundary. The last five candles reflect a transition from a bullish momentum (green candles) to a bearish reversal (red candles). the Ichimoku cloud (Kumo) is showing signs of potential GBPUSD bearish pressure. The price has broken below the upward channel and is now testing the lower boundary of the cloud, indicating a shift in momentum. The cloud itself is relatively thin, suggesting that the current support level is weak. The stochastic oscillator shows oversold conditions, suggesting that although there is bearish momentum, a corrective pullback might be expected soon. Further downside could see the pair targeting support levels near the 1.3200 area.

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

EUR/USD H4 Chart Bullish Momentum Analysis

The EUR/USD forex pair, often referred to as "Fiber," is the most traded currency pair globally, representing the exchange rate between the Euro (EUR) and the US Dollar (USD). The pair's performance is highly influenced by economic releases and geopolitical factors from the Eurozone and the United States, making it a key indicator for global market trends. With a multitude of events set to impact the pair today, traders are closely monitoring both European and U.S. developments, such as inflation data and central bank remarks, to gauge future price movements.
Today's EUR USD outlook is shaped by several key factors. For the Euro, traders will focus on the Import Price Index and Consumer Price Index (CPI) reports from Germany and Italy, both critical indicators of inflation. If these metrics exceed forecasts, they would signal rising inflationary pressures, potentially prompting the ECB to take a more hawkish stance, boosting the Euro. Furthermore, ECB President Christine Lagarde's speech could provide insights into future monetary policies, adding potential volatility to the Euro. On the U.S. side, Michelle Bowman's and Jerome Powell's speeches are pivotal as traders look for clues regarding future interest rate hikes. Any signs of hawkishness from Federal Reserve officials could strengthen the U.S. Dollar, especially if coupled with positive results from the Chicago PMI.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The EUR/USD H4 chart reveals a bullish price trend channel, with several alternating bearish and bullish candles. Currently, the EUR USD pair is situated between the 0.382 and 0.236 Fibonacci retracement levels, suggesting ongoing upward momentum. The recent two green candles confirm bullish sentiment, and the price is close to breaking above the 0.236 Fibonacci level, which if successfully breached, could lead the price toward the 0.0 Fibonacci level near 1.12150. The RSI hovers slightly above 50, suggesting a moderate bullish bias. Meanwhile, the MACD indicator shows flattening momentum, with the signal line close to crossing above the histogram, implying potential consolidation before a further upward move. Overall, the fiber’s technical indicators align with the view that a sustained move above 1.1180 could trigger further gains.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.

USDCHF Bullish Outlook with Strong Economic Data

The USD/CHF currency pair, commonly referred to as the "Swissie," represents the exchange rate between the US Dollar (USD) and the Swiss Franc (CHF). This pair is influenced by global economic events and interest rate differentials between the US and Switzerland. Today’s market focus is on upcoming US economic data releases and Federal Reserve statements, which are expected to impact the USD. With US Federal Reserve Governor Adriana Kugler due to speak about the economic outlook, traders are watching for any signs of hawkish policies that could support the USD. Additionally, key economic indicators like the GDP data and jobless claims are expected to provide a clearer picture of US economic health. If these releases come out stronger than forecast, the USD could see a bullish reaction, lifting USD/CHF higher. Meanwhile, the Swiss National Bank’s previous stance on maintaining strict monetary policies provides ongoing support to CHF, but attention remains on future SNB meetings for potential policy shifts.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
In the uploaded H4 USD/CHF chart, technical indicators support a bullish outlook. The price has shown a sharp upward trend with five consecutive bullish candles, bouncing from the lower Bollinger Band and approaching the upper band, which aligns slightly above the 0.786 Fibonacci retracement level. The current price lies between the 0.618 and 0.786 Fib levels, indicating that it is testing resistance. Bollinger Bands suggest expanding volatility, while the MACD histogram shows an increasing bullish momentum with the lines crossing into positive territory, signaling potential for further upside. Traders should monitor whether the price breaks above the upper Bollinger Band, which could signal continuation, or if it meets resistance near the 0.786 Fib level.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

EURGBP H4 Technical Analysis: Bearish Trend in Focus

The EURGBP currency pair, often referred to by traders as "Chunnel" or the "Euro-Pound," represents the exchange rate between the Euro and the British Pound. Euro-Pound price is influenced heavily by macroeconomic data from both the Eurozone and the United Kingdom. For today, Euro news includes the Producer Price Index (PPI) and Consumer Confidence Index, both serving as important indicators of inflation and economic sentiment. ECB President Christine Lagarde's speech at the Michel Camdessus Central Banking Lecture could also provide key insights into future monetary policy, which may influence the Euro. On the UK side, news surrounding consumer confidence and retail sales will be critical in shaping market sentiment. With both regions facing inflationary pressures, today's data releases and speeches are expected to heighten volatility in the EURGBP pair.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the EURGBP H4 chart, we can observe that the pair has been in a bearish trend, with four bullish candles out of the last eleven. The price has declined from the upper Bollinger Band to the middle band and touched the lower band, indicating increased volatility. After bouncing off the lower band, the last two candles have turned bullish, suggesting a potential short-term recovery. Currently, the Chunnel’s price is trading between the 1.0 Fibonacci level and the 0.786 level, highlighting a potential area of support. The RSI stands near the oversold zone, signaling that the bearish momentum may be weakening, and a bullish reversal could be imminent. Traders should watch for the price movement between these critical Fibonacci levels and observe the RSI for any divergence, which could provide further confirmation of a trend reversal.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

Capitalcore

USD/CAD Current Market Overview


USD/CAD, also known as the “Loonie,” reflects the exchange rate between the U.S. dollar and the Canadian dollar. The pair has recently shown signs of bullish momentum, but this trend is beginning to lose steam, as evidenced in the latest price action. The chart displays a gradually weakening upward slope, suggesting that buyers might be losing control. Today, both the U.S. and Canadian economies are expected to release significant data, including U.S. housing starts and the Federal Reserve’s statement on interest rates, which could cause volatility. Additionally, the Bank of Canada (BoC) is expected to release the Summary of Deliberations, adding more potential for movement in the pair.
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 Chart Notes: 
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Technically, the Relative Strength Index (RSI) has broken out of its bullish structure, indicating a possible shift toward bearish sentiment. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing signs of a bearish wave potentially forming, with the MACD line approaching the signal line from above. Given the fundamental backdrop, including crude oil inventory reports, interest rate decisions, and projections, these indicators suggest caution for traders as a potential downturn may follow in the coming sessions.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.

Capitalcore

USDCAD H4 chart technical overview today

The USDCAD forex pair, often referred to as the "Loonie," is a popular currency pair that represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD). As a commodity-based currency, the Canadian Dollar is closely tied to oil prices, while the US Dollar's strength is influenced by macroeconomic factors. The upcoming CAD news, especially from Statistics Canada and CMHC regarding housing starts and consumer price indexes, is expected to drive volatility, especially since inflation and construction are key economic indicators.
From a fundamental perspective, the Canadian Dollar could strengthen today if housing starts data and inflation reports exceed forecasts, signaling a robust economy. On the USD side, traders will focus on retail sales and manufacturing production figures, which are key to gauging US consumer demand and inflationary pressure. If US data underperforms while Canadian data impresses, this may tilt the USDCAD pair toward further CAD gains.
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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the USDCAD H4 chart, several technical indicators provide insights. The price has been in a slightly bullish trend, consolidating within the upper half of the Bollinger Bands, indicating upward momentum. The MACD histogram is showing a positive divergence, suggesting slight bullish pressure. The price is currently between the 0.236 and 0 Fibonacci retracement levels, hinting at potential resistance. However, if the bullish candles continue to dominate, a breakout above the 0.236 Fib level could push the pair higher.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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