Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bullish RiseKey Levels:Resistance: 13561.0 Pivot: 12892.5Support: 12522.25Preferred Case:On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will rise from our pivot at 12892.5 in line with the overlap support to the overlap resistance at 13561.0 within the area of the 78.6% fibonacci projection and 50% […]
GBP On Watch Price action in GBPUSD is catching my eye here. The pair has been grinding lower in a well-defined bear channel since the YTD highs. However, the last decline saw strong bullish divergence in momentum studies and price has since traded back up to test the channel top and the resistance level at […]
EURUSD, “Euro vs US Dollar” Having completed the ascending structure at 1.0693 and formed a new consolidation range there, EURUSD has broken it to the upside and may continue the correction up to 1.0763. Later, the market may fall to break 1.0674 and then continue moving within the downtrend with the target at 1.0585. GBPUSD, […]
Brent In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to rebound from 6/8 and resume moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks the support at […]
The dollar rose after job growth in the United States exceeded expectations. The US dollar edged higher against a basket of currencies on Friday, as a better-than-expected US employment report pointed to a tight labor market, which could lead to interest rate hikes by the Federal Reserve. Nonfarm payrolls increased by 390,000 jobs last month, […]
The dollar erased gains made in the first half of the weekwhile risk assets posted moderate gains after release of ADP report for May,which was rather pessimistic about US labor market gains. According to the ADPreport, the economy added just 128K jobs, less than half of the 300K forecast.The dollar index left the range of […]
Type: Bullish RiseKey Levels:Resistance: 32154.75Pivot: 29499.38Support: 27331.52Preferred Case:On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will rise from our pivot at 29499.38 in line with the overlap support to the overlap resistance at 32154.75 in line with the 78.6% fibonacci projection.Alternative Scenario:Alternatively, price may reverse […]
• Apple reversed from resistance level 150.00• Likely to fall to support level 140.00 Apple recently reversed down from the pivotal resistance level 150.00 (former multi-month low from March) intersecting with the 38.2% Fibonacci correction of the downward impulse from March. The downward reversal from the resistance level 150.00 started the active minor correction (b). […]
• AUDUSD reversed from resistance level 0.7265• Likely to fall to support level 0.7200 AUDUSD today reversed down exactly from the key resistance level 0.7265 (top of the previous minor correction (iv) from last month) intersecting with the 50% Fibonacci correction of the downward impulse 1 from April and the upper daily Bollinger Band. The […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is testing the bearish 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 Tenkan-Sen at 1.2625 and then resume moving downwards to reach 1.2325. Another signal in favour of a further downtrend […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Hanging Man reversal pattern close to the resistance area. At the moment, EURUSD may reverse in the form of a new descending impulse. In this case, the downside correctional target may be at 1.0700. However, an alternative […]
Gold prices fell, during trading today, Friday, June 3, 2022, abandoning its highest level in a month, which it had achieved earlier. Gold prices had started trading higher, driven by the weakness of the US dollar, which put bullion on the right track, on its way to achieving a third consecutive weekly gain. Gold Prices […]