Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
BOC Hikes and Keeps Options Open The Bank of Canada meeting yesterday was a more neutral affair than most were anticipating. The BOC hiked rates by a further .5%. in line with expectations. However, the accompanying language and outlook was not convincingly geared towards a pause. Interestingly, the market reaction to the meeting has seen […]
USD Under Pressure USDCNH has seen a sharp sell-off over the last week or so. Part of this can be attributed to the softening we’ve seen in USD while the other driver is clearly the developments we’ve seen in China. On the USD front, the greenback has been well sold recently though the perspectives behind […]
Type: Bullish Continuation Key Levels:Resistance:1.06680Pivot:1.05085Support:1.03315 Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly break the pivot at 1.05085, where the previous high is […]
Gold has pulled from the resistance at the level of 1820, forming an engulfing. Now, the asset’s price has pulled to the middle point of the engulfing. This might signify the upcoming drop. Gold is likely to drop to the level of 1735 next. The Euro is slowly heading down, targeting the level of 1.0350 […]
The Japanese yen against the US dollar remains neutral. The quote is 137.05. Curiously enough, the market somehow manages to keep the yen balanced. With the huge difference between monetary policies of the Bank of Japan and the US Federal Reserve System, the JPY continues devaluation. However, due to excessive market expectations concerning the pause […]
On Thursday, the British pound against the US dollar is slightly declining, but looks stable, on the whole. The quote is 1.2182. The pound is taking advantage of the weakness of the USD quite efficiently and remains not far from the peaks of June. Yet indeed, Great Britain and the GBP have quite a bunch […]
Type: Bullish Continuation Key Levels:Resistance:2542Pivot:2422Support:2475 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to head towards the resistance at 2542, where the 78.6% Fibonacci line and previous high […]
Daily Market Outlook, December 8, 2022 Wall Street Whipsawed On Deflationary Data & Putin Nuclear Rhetoric Wall Street witnessed a whipsaw session, driven by downward revisions to Q3 unit labour costs, this prompted a sell-off in US Yields and a rally in US stocks, this move was sharply reversed as investors hit the sell button […]
EURUSD, “Euro vs US Dollar” The currency pair performed an impulse of decline to 1.0443 and corrected to 1.0548. Today a structure of a declining wave to 1.0433 is forming. And with a breakaway of this level downwards as well a pathway to 1.0320 will open. After this level is reached, growth to 1.0320 might […]
GBPUSD, “Great Britain Pound vs US Dollar” The currency pair is correcting by a Wedge reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2155 is expected, followed by growth to 1.2545. An additional signal confirming the growth will be […]
Type: Bearish Drop Key Levels:Resistance: 4173.25Pivot: 3913.25Support: 3751.75 Preferred Case:Looking at the H4 chart, my overall bias for SPX is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the pivot at 3913.25, where the 50% Fibonacci […]
BOC In Focus The Bank of Canada will be in focus today as it meets for its December monetary policy decision. There is a great deal of attention on today’s meeting given the market expectation that the BOC could well signal a pause in its tightening program. While a further .5% of tightening is expected […]