Market Analysis

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 […]

The Australian dollar against its US counterpart is declining slowly but steadily. The current quote 0.6748. The pressure that the USD applies to other currencies is too much to develop any alternative trend. The morning statistics demonstrated that the hopes for trade surplus in Australia had not come true. The surplus in July turned out […]

The Japanese yen against the US dollar looks extremely weak. The current quote is 143.82. The morning statistics demonstrated that the Japanese GDP in Q2, 2022 grew by 0.9% q/q and 3.5% y/y. In both cases, the result turned out to exceed expectations. It was a great surprise because investors had not expected much from […]