Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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• USDCHF reversed up from support level 0.9380 • Likely to rise to resistance level 0.9485 USDCHF recently reversed up from the support level 0.9380 (former multi-month low from the start of August) standing below the lower daily Bollinger Band. The upward reversal from the support level 0.9380 stopped the earlier short-term impulse wave (iii) […]
• Moderna broke resistance level 180.00 • Likely to rise to resistance level 197.15 Moderna recently broke the resistance level 180.00 (top of the previous minor correction 2 from the middle of August). The breakout of the resistance level 180.00 accelerated the active short-term impulse wave C of the ABC correction (2) from the end […]
Citing significant economic uncertainty in the coming months, OPEC has lowered its oil consumption growth forecast for the 5th consecutive time since April. The adjustment was -100K b/d for 2022 and 2023. The last time OPEC revised its forecast at the last meeting, it was decided to increase production by 2 million barrels per day. […]
Type: Bearish Momentum Key Levels:Resistance:1484.50Pivot:1409.75Support:1431.50 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the support line at 1431.50 where the 50% Fibonacci line is located before […]
EURUSD, “Euro vs US Dollar” The pair has completed a wave of decline to 1.0270 and a link of growth to 1.0357. At the moment, the market is forming a consolidation range under this level. With an escape upwards, the range may extend to 1.0410. With an escape downwards, a pathway to 1.0175 will open. […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the pair has formed a Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth will be 1.3880; later the price may bounce off the resistance level and extend the downtrend. However, the […]
The Japanese yen against the US dollar is getting every moment weaker. The current USDJPY quote is 140.54. The morning Japanese statistics show that in Q3 the GDP of the country dropped by 1.2% y/y, while the forecast was a decline by 1.1% y/y. Quarter-wise, the decline was 0.3% against the expected growth by 0.3%. […]
EURGBP, “Euro vs Great Britain Pound” The pair is correcting by the Triangle pattern, going above the Ichimoku Cloud, which indicates an uptrend. A test of the upper border of the Cloud at 0.8725 is expected, followed by growth to 0.8965. An additional signal confirming the growth will be a bounce off the lower border […]
Copper Climbs Above Bear Channel The sharp drop in USD last week has fuelled noteworthy moves across markets. Commodities markets have benefitted strongly from a weakness in USD, as evidenced by the rally we’ve seen in copper. Following heavy sideways action since early July, copper futures broke out to their highest level since June last […]
Technical & Trade View USDCAD 1.3330 Target Achieved, New Pattern Emerging Bias: Bullish Above Bearish below 1.3410 1.3330 Target Achieved, New Pattern Emerging Technicals Primary resistance is at 1.3410 Primary pattern objective is 1.3165 Acceptance below 1.3230 next pattern confirmation Acceptance above 1.3430 opens a test of 1.35 20 Day VWAP bearish , 5 Day […]
FX Reversals Underway Last week’s sudden drop in the Dollar has proved highly fertile for reversal traders in FX. Across the board we’ve seen USD-counterparts rallying firmly. For technical traders, these moves looked well signalled given the basing action and momentum divergence we’ve seen in pairs such as EURUSD, GBPUSD, AUDUSD and (on the other […]
XAUUSD, “Gold vs US Dollar” At the resistance level, the instrument has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a yet another correction wave. The goal of the pullback will be 1745.00. After a test of the support level, gold may bounce off it and continue the […]