Day: September 3, 2022

Type: Bearish Drop Key Levels:Resistance: 12999Pivot: 12758Support: 12415 Preferred Case:On the H4, with price moving within a descending channel and below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 12758 where the pullback support is. Once there is downside confirmation that price has broken pivot structure, we […]

Type: Bullish Rise Key Levels:Resistance: 721’0Pivot: 667’4Support: 641’0 Preferred Case:On the H4, with price moving above the ichimoku indicator and along the ascending trendline , we have a bullish bias that price will rise to the pivot at 667’4 where the pullback support is. Once there is upside confirmation that price has broken pivot structure, […]

The bond market selloff has been offering significant support to the greenback this week. The dollar index (DXY) rose to 110 on Thursday, however it failed to secure fresh highs and turned into a decline on a technical bounce. The main event of the day was the Non-Farm Payrolls report, which diverged from expectations, and […]

Type: Bearish Drop Key Levels:Resistance: 32591Pivot: 31864Support: 30432 Preferred Case:On the H4, with price breaking the ascending trendline and moving below the ichimoku indicator, ,we have a bearish bias that price will drop from pivot at 31864 where the pullback resistance and 23.6% fibonacci retracement are to 1st support at 30432 where the pullback support […]

Nonfarm payrolls rose by 315,000 jobs in August, down from the July increase of 526,000 jobs. The report was just below the Dow Jones estimate of 318,000 jobs and the slowest monthly gain since April 2021. The S&P 500 rose in response to the report, but later erased its gains, indicating that bears continue to […]