Day: November 26, 2022
Type: Bearish Momentum Key Levels:Resistance:745.500Pivot:613.250Support:665.000 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head back down the the support level at 665.000, where the 78.6% Fibonacci line is. Alternative […]
According to the Institute of International Finance (IIF), next year the world economy will grow by only 1.2%, that is, growth will be as weak as in 2009, and the eurozone economy will shrink by 2% due to the prolongation of the geopolitical conflict. Economists Robin Brooks and Jonathan Fortune made that forecast Thursday, adjusted […]
DXY rebounded from the short-term support area of 105.50 after the dip following the release of the FOMC Minutes. The bounce is more of a technical one as EURUSD formed a double top at the 1.0450 zone and GBPUSD pulled back, following the failed breakout of the 1.21 level: Investors brace for hawkish household consumption […]
Type: Bearish Continuation Key Levels:Resistance:2454Pivot:2597Support:2355 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head towards the support at 2355, where the previous swing low is located. Alternative Scenario:Price may […]
Type: Bullish Continuation Key Levels:Resistance:4173.25Pivot:3913.25Support:3751.75 Preferred Case:On the H4 chart, we have a bullish bias. Furthermore, the price is above the Ichimoku cloud , indicating a bullish market. If the bullish trend continues, price may move towards the 4173.25 resistance level , which contains the 78.6% Fibonacci Fibonacci line. Alternative Scenario:Price could retest the pivot […]
GBP Continues to Fight Back With the holiday shortened week in the US due to Thanksgiving, it’s been a quieter session for markets this week. However, we’ve seen some important developments and while we haven’t quite seen the largescale volatility of recent weeks, there have certainly been some noteworthy moves. Chatting with traders ahead of […]
Technical & Trade View GBPUSD Trade View 1.2050 target Achieved, New Pattern Emerging Bias: Bullish Above Bearish below 1.1950 Technicals Primary support is 1.1950 Primary upside objective 1.22 Next pattern confirmation, acceptance above 1.21 Failure below 1.19 opens a test of 1.1770 20 Day VWAP bullish, 5 Day VWAP bullish Today’s New York Cut Option […]