Market Analysis

Bitcoin has tested the flag and jumped above the level of 17000. The price of Bitcoin might potentially pull back from a very important resistance at the level of 18500 and drop. Should Bitcoin manage to break the level of 18500 through, it might jump again. So, let’s observe what is about to happen next. […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI has broken through the ascending trendline downwards. Currently, we should expect a test of 1/8 (0.9399), a breakaway, and falling to 0/8 (0.9277). The scenario can be cancelled by rising […]

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 […]

Oil Traders Cut Longs Last Week The latest CFTC COT institutional positioning report shows that oil traders reduced their net long positions last week. Total upside exposure was cut to 252k contracts from around 273k contracts prior. The downward reduction reflects a renewed sense of caution in the market amidst news of fresh lockdowns in […]

EURUSD, “Euro vs US Dollar” The currency pair is testing the upper border of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0360 is expected, followed by growth to 1.0765. An additional signal confirming the growth will be […]

USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the pair has formed a Harami reversal pattern. Currently, the pair is going by the signal in a descending wave. The goal of the decline may be 1.3330; next thing, the price might break through the support level and extend the downtrend. However, […]

The dollar index sank 1% while S&P 500 approached 4100 points following Powell’s speech on Wednesday, which the market interpreted as an acknowledgement that the pace of rate hikes will be slowed down in December. U.S. bond yields edged down by about 20 bp, reflecting a growing consensus that the Fed will raise interest rates […]

NZDUSD, NZDCAD & GBPUSD Trade To Targets, What Next? Source: Tickmill

The market major on Thursday is growing. The current quote is 1.0450. Yesterday was full of statistics, but the key catalyst was different. Activity of investors heated up after the speech of the head of the US Fed Jerome Powell. He confirmed that the next increase in the interest rate might be more modest that […]

EURUSD, “Euro vs US Dollar” The currency pair has completed a structure of decline to 1.0290. Getting support at this level, the market has performed a link of growth to 1.0440. Today a consolidation range might form around this level. With an escape upwards, a pathway up to 1.0590 will open. With an escape downwards, […]

USD Slides As Powell Greenlights Smaller December Hike The US Dollar has come under heavy selling pressure today following a dovish set of comments from Fed’s Powell yesterday. Speaking at the Brookings Institute, Powell told audience members that the Fed agreed that a smaller pace of rate hikes would be appropriate from as early as […]

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 […]