Market Analysis

GBPCAD Base Building? GBPCAD is one pair I’m monitoring with interest currently. The market has been trading lower over the year, tracing an orderly bearish channel from the roughly 1.65 highs down to the mid-1.53 lows. However, over the recent declines we’ve seen strong bullish divergence on momentum studies, suggesting potential for a reversal in […]

EURUSD, “Euro vs US Dollar” Having completed the descending wave at 1.0160, EURUSD is consolidating there. If later the price breaks the range to the upside, the market may form one more ascending wave to reach 1.0222, and then start another decline with the target at 1.0080; if to the downside – resume falling towards […]

AUDUSD, “Australian Dollar vs US Dollar” In the H4 chart, after breaking 8/8, AUDUSD is no longer moving within the “overbought area”. In this case, the price is expected to test 6/8, break it, and then continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price […]

Type: Bullish Rise Key Levels: Resistance : 2727.9 Pivot: 2612.6 Support : 2564.4 Preferred Case:On the H4, with price moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise from the pivot at 2612.6 where the pullback support is to the 1st resistance at 2727.9 […]

Coinbase Holding Above Lows Shares in Coinbase are continuing to hold above the yearly lows, despite a dismal set of Q2 earnings from the company last week. The crypto broker posted EPS of -$4.98, down sharply on the -$2.47 the market was looking for. Additionally, revenues were seen heavily lower at $808 million, versus $873 […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is no longer trading within the bullish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2115 and then resume moving downwards to reach 1.1775. Another signal in […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns close to the resistance level, such as Harami, USDCAD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.2830. Later, the market may break this level […]

• Home Depot broke resistance area • Likely to rise to resistance level 340.00 Home Depot recently broke sharply through the resistance area lying between the key resistance level 314.25 (which has been reversing the price from the start of April) and the 61.8% Fibonacci correction of the earlier downward impulse from March. The breakout […]

• GBPJPY reversed from support area • Likely to rise to resistance level 163.65 GBPJPY currency pair recently reversed up from the support area lying between the key support level 160.50 (which has been reversing the price from the middle of June), lower daily Bollinger Band and the 61.8% Fibonacci correction of the sharp upward […]

Type: Bearish Drop Key Levels:Resistance : 1.0314Pivot: 1.0151 Support : 1.0005 Preferred Case:On the H4, as the price is below descending trendline and the MACD indicators are below zero, we have a bearish bias that price may drop from the pivot at 1.0151 where the 61.8% fibonacci retracement is to the 1st support at 1.0005, […]

Type: Bullish Rise Key Levels:Resistance : 14220Pivot: 13670Support : 13351 Preferred Case:On the H4, with price moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise from the pivot at 13670 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at […]

GBPUSD is falling on Tuesday; bears are getting more aggressive. The Pound Sterling continues to fall against the USD without any breaks. The current quote for the instrument is 1.2022. Earlier today, the United Kingdom released several reports on its labour market. The Unemployment Rate remained unchanged in June at 3.8%. Average Earnings Index added […]