Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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TitleUSDCAD H4 | Bearish reaction off 78.6% fibo TypeBearish Reversal Preference:Price is approaching our pivot point at 1.3333, and could potentially have a bearish reversal here to the 1st support level at 1.32789. This is supported by the 78.6% fibo projection and 38.2% fibo retracement levels, indicating that there is fibo confluence. Alternative scenario:If price […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF are under the 200-day Moving Average on H4, revealing a prevailing downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (0.8972) is expected, followed by a decline to the support at 0/8 (0.8911). The scenario can be cancelled by rising above […]
The Japanese yen has paused its devaluation against the US dollar. The current USDJPY quote is 144.59. On one hand, JPY is performing a technical pullback following its recent significant weakening. On the other hand, the reduced risk appetite in the currency market has led to increased demand for safe-haven assets. While the yen has […]
Muted Reaction to Minutes The June FOMC minutes yesterday were broadly USD positive but offered little in the way of new information and, as such, saw a relatively muted market reaction. The minutes confirmed that the majority of members agreed that further tightening would likely be necessary despite the decision to hold rates unchanged in […]
BTC Holding Near Highs Bitcoin futures are holding just below the year’s highs as we move through the European morning on Thursday. After a deep correction lower from the initial YTD highs in April, the market has since recovered firmly and is now sitting in a holding pattern, looking poised for an imminent breakout. One […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.0895 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will be a rebound from the […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Sandwich reversal pattern near the support level. At this stage, the instrument could go by the reversal signal in a corrective wave. The growth target might be 1930.00. Upon testing the resistance, the price could rebound from this level and continue the downtrend. However, the quotes […]
Hawkish Central Bank Expectations With central banks such as the Fed, the BOE and the ECB widely expected to push ahead with further tightening this year, economic fears are returning to the forefront. Over the back end of last year, there was plenty of speculation of global downturn risks in the first half of this […]
TitleDE30EUR H4 | Falling to 61.8% Fibo overlap TypeBullish Bounce Preference: Price is falling towards the pivot point of 15898.8 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 16070.84. Alternative scenario: If price breaks below the pivot point, it could hit the 1st support at […]
TitleGBPUSD H4 | React off resistance TypeBearish Reversal Preference:Price is approaching our pivot point of 1.27273 which is a multi swing high resistance level. A reverse from here, price could fall to 1st support level at 1.26739 that aligns with 50% Fibo retracement which is an overlap support. Alternative scenario:However, if price breaks above the […]
TitleNZDJPY H4 | Potential bearish reversal TypeBearish Reversal Preference:Price has just reacted off our pivot point of 89.684 which is a multi swing high resistance. a reverse from here, price could fall to 1st support at 88.969 which is a pullback support level that aligns with 38.2% Fibo retracement. Alternative scenario:However, if price breaks above […]
The major currency pair is slightly retreating on Wednesday on low volatility and anticipation of the Fed minutes. The current EURUSD quote is 1.0880. The past two days have been quiet and calm for the currency section: Monday was a shortened business day in the US, and Tuesday was a public holiday due to Independence […]