Day: December 8, 2022
XAUUSD, “Gold vs US Dollar” On H4, at the support level, gold has formed a Harami reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth may be 1810.00. Upon testing the resistance level, the pair will get the chance for breaking through it and continuing […]
Type: Bearish Continuation Key Levels:Resistance:673.75Pivot:632.00Support:586.00 Preferred Case:Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head towards the pivot at 586.00 where the 50% Fibonacci line is located. Alternative Scenario:Price […]
Gas Prices Testing Key Support Natural Gas prices are once again testing the key support level around 5.38. This area marked the lows of the first significant down move in June, as well as the subsequent retest in late October. Prices are now testing the level once again with risks of a downside break growing. […]
EURUSD, “Euro vs US Dollar” The currency pair is correcting inside a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0385 is expected, followed by growth to 1.0755. An additional signal confirming the growth will be a bounce off […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. A bounce off 4/8 (137.50) should be expected, followed by falling to the support level of 3/8 (134.37). The scenario can be cancelled by rising […]
Type: Bullish Continuation Key Levels:Resistance:3.9600Pivot:3.6885Support:3.5545 Preferred Case:Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 3.9600, where the previous swing high is. […]
Daily Market Outlook, December 7, 2022 China Re-opening Fails To Inspire, Trade & Tech Weakness Weigh Weakness on Wall Street led by the Nasdaq selling off 2%, as tech names were hit hard, migrated to Asian markets overnight, lacklustre performance in the energy and tech sectors sent the Nikkei lower, with the Shanghai Comp and […]