Market Analysis

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed an Inverted Hammer reversal pattern not far from the support area. At the moment, the asset may reverse in the form of a new rising impulse. In this case, the upside target may be at 1792.00. At the same […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.2090 and then resume moving downwards to reach 1.1835. Another signal in favour of a further downtrend will […]

• AUDUSD broke daily up channel • Likely to fall to support level 0.6870 AUDUSD recently broke the support trendline of the daily up channel, inside which the pair has been rising from the middle of July. The breakout of this up channel continues the active multi-impulse downward sequence made out of the impulse waves […]

• EURNZD broke daily down channel • Likely to rise to resistance level 1.6345 EURNZD recently broke the resistance trendline of the daily down channel, inside which the pair has been falling from July. The breakout of this down channel accelerated the active short-term correction (ii) – which belongs to the sharp downward impulse wave […]

Bitcoin underwent correction and dropped to the level of 23500. Bitcoin might gain the required support at this level and jump to the level of 25500. So, let’s wait and see what is about to happen next. Gold is testing the downtrend. The price of this asset might potentially grow. Should the asset’s price close […]

Walmart Beats Earnings Forecasts Shares in US retailer Walmart surged higher yesterday after the iconic company posted better-than-expected Q2 earnings. On the back of earlier issuing a profit warning for Q2, traders were bracing for negative results. Given Walmart’s status as a bellwether for the US economy, a poor set of earnings would have likely […]

USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test the support at 5/8, break it, and then continue falling and reach 4/8. However, this scenario may no longer […]

The minutes of the July FOMC meeting are due today and given the recent message of the Fed that positive incoming economic data won’t sway the central bank from its tightening plans, the minutes of the meeting will likely be another opportunity to reinforce that message. That is why the hawkish surprise in today’s communication […]

Type: Bullish Rise Key Levels:Resistance: 144.225Pivot: 141.675Support: 138.625 Preferred Case:On the H4, with price moving above the ichimoku indicator and within an ascending trendline, we have a bullish bias that price will rise from the pivot at 141.675 where the swing high, 78.6% fibonacci retracement and 127.2% fibonacci projection are to the 1st resistance at […]

EURUSD, “Euro vs US Dollar” EURUSD is testing the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0220 and then resume moving downwards to reach 1.0005. Another signal in favour of a further downtrend will […]

EURUSD, “Euro vs US Dollar” Having expanded the consolidation range down to 1.1022, EURUSD is growing to expand it upwards. Possibly, the pair may reach 1.0222 and then start another decline with the target at 1.0080. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD continues trading upwards to reach 1.2122 and may later form a […]

Type: Bullish Rise Key Levels:Resistance: 3944.5Pivot: 3849.0Support: 3749.0 Preferred Case:On the H4, with price moving above the ichimoku indicator and within the ascending channel, we have a bullish bias that price will rise to the pivot at 3849.0 where swing high resistance is. Once price has broken pivot structure, we would expect bullish momentum to […]