Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleHeading into 50% Fibonacci Resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.62032 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.61177 which is an overlap support that aligns […]
TitleFalling to 38.2% Fibonacci Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 1.35095 which is an overlap support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35323 which is a pullback resistance that aligns […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the pair is expected to drop to the nearest support at 2/8 (0.6469). The scenario could be cancelled by rising above the […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3600. Next, the price has a chance for breaking out the resistance and extending the uptrend. However, the quotes might correct to […]
TitleGBPJPY H4 | Bullish bounce TypeBullish Bounce Preference:The price could bounce off the pivot at 188.86, the overlap support and a bounce could lead the price to rise to the 1st resistance at 190.528, which is the 127% extension level. Alternative scenario:It might reverse and break out of the pivot and fall to the 1st […]
Copper Rally Pauses for Now Copper prices are beginning the week in a quieter fashion after the solid gains we saw last week. The market surged higher by more than 4% as weakness in the US Dollar helped lift demand. Prior to last week’s rally, copper prices had been under heavy pressure as an uptick […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the upper boundary of the descending channel. The instrument is going inside the Ichimoku Cloud, indicating the prevalence of a sideways trend. A test of the upper boundary of the Cloud at 1.0780 is expected, followed by a decline to 1.0645. An additional signal confirming the […]
EURUSD, “Euro vs US Dollar” The EURUSD pair is forming a consolidation range around 1.0760. A decline link to 1.0755 is not excluded today. The quotes might escape the range upwards, aiming at 1.0823. Once this level is reached, a new decline wave to 1.0717 is expected. This is the first target of a new […]
TitleXAUUSD H4 | Bullish Bounce TypeBullish Bounce Preference: Price has just bounced the pivot point of 2015, an overlap support level. A bounce from this level could lead the price to rise to 1st resistance at 2029, an overlap resistance Alternative scenario:If price breaks below the pivot, it could fall to 1st support at 2006, […]
TitleNZDJPY M15 I Potential bearish reversal TypeBearish Drop Preference:Price has jsut reacted off the pivot point of 92.24, an overlap resistance that aligns with the 61.8% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 92.06, a pullback support level. Alternative scenario: If price breaks above the […]
The Japanese yen, paired with the US dollar, is constantly changing its trajectory. The current USDJPY exchange rate stands at 150.16. Today, the market focuses on discussions about currency interventions in Japan. On Tuesday, Finance Ministry spokesman Atsushi Mimura noted that the Japanese authorities are in ongoing dialogue with their foreign counterparts and the Central […]
The Australian dollar is strengthening against the US dollar. The current AUDUSD exchange rate stands at 0.6531. China has resumed its everyday activities, giving Australia more reasons to react. This morning, China reduced its benchmark mortgage rate to bolster the housing market, which had previously experienced a decline. Capital markets responded positively to the news, […]