Market Analysis

USDCAD, “US Dollar vs Canadian Dollar” On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. The pair is now developing the signal by a descending impulse. The goal of the decline is 1.2970; later the price might bounce off it and continue growth. However, it may still rise to […]

USDCHF, “US Dollar vs Swiss Franc” The pair is testing the support area. It is moving under the Ichimoku Cloud, indicating a downtrend. A test of the lower border of the Cloud is expected at 0.9715, followed by falling to 0.9495. An additional signal confirming the decline will be a bounce off the upper border […]

Type : Bearish Drop Key LevelsResistance : 3569 Pivot: 3503 Support : 3433 Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 3503 where the pullback support is. Once there is downside confirmation that price has broken pivot structure, […]

Type : Bearish Drop Key Levels:Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 144.475. Once there is upside confirmation that price has broken pivot structure, […]

• IBM reversed from strong support level 126.00 • Likely to reach resistance level 130.00 IBM recently reversed up from the strong support level 126.00 (which stopped all previous downward correction from April), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 126.00 started the active short-term correction (ii). Given […]

BOC Hikes & Signals More To Come The September Bank of Canada meeting, held yesterday, saw the BOC delivering a firmly hawkish outcome. The bank hiked rates by .75%, the top end of the range of expectations, and signalled more tightening as likely necessary. There had been a great deal of speculation ahead of the […]

Type : Bearish Drop Key Levels:Resistance : 32600 Pivot: 31872 Support : 30974 Preferred Case: On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 31872 where the pullback resistance and 23.6% fibonacci retracement are to the 1st support at 30974 where the […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes are in the overbought area. A downward breakaway of 8/8 is expected, followed by further falling to the support level of 7/8. The scenario can be cancelled by a breakaway of +1/8 upwards. In this case the pair might start growing again and even reach […]

• EURJPY reversed from key resistance level 144.30 • Likely to fall to support level 142.00 EURJPY currency pair recently reversed down from the key resistance level 144.30 (which has been reversing the price from the start of June) standing above the upper daily Bollinger Band. The downward reversal from the resistance level 144.stopped the […]

• GBPCHF broke key support level 1.1300 • Likely to fall to support level 1.1100 GBPCHF currency pair recently broke through the key support level 1.1300 (which stopped the earlier minor impulse waves (iii) and (i)). The breakout of the support level 1.1300 accelerated the active impulse waves (iii), 5 and (3). Given the clear […]

The main event of the day today will be the meeting of the European Central Bank. Bloomberg economists are divided on expectations in regard to the size of the rate hike, with just over half of them predicting the ECB will raise rates by 75 bps, and just under half believing a 50 bps outcome […]

ECB Up Next Following the September BOC meeting yesterday, focus today shifts to the ECB. The central bank is widely expected to hike rates by .75%, surpassing the .5% hike in July. With inflation in the eurozone having hit record highs of 9.1% in July, the pressure is on the ECB to act decisively. Given […]