Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Retail Activity Rises Despite Inflation The British Pound has seen strong demand again today following an unexpectedly strong set of retail sales for April. The data, released this morning, showed that retail sales grew by 1.3% last month. This was in stark contrast to the -0.3% reading the market was expecting and marks a sharp […]
Type: Bearish ContinuationKey Levels:Resistance: 8868Pivot: 8567Support: 8281Preferred Case:With price moving below our ichimoku cloud , we have a bearish bias that price will drop to our 1st support at 8281 in line with the 61.8% Fibonacci projection , 38.2% fibnonacci retracement, 61.8% Fibonacci retracement and horizontal swing low support from our pivot of 8567 in […]
Type: Bullish BounceKey Levels:Resistance: 1702’6Pivot: 1684’0Support: 1661’4Preferred Case:With price being above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1702’6 in line with the swing high resistance and 61.8% Fibonacci projection from our pivot of 1684’0 in line with the horizontal overlap support and 23.6% […]
• USDCHF reversed from support area• Likely to rise to resistance level 0.9800 USDCHF today reversed up from the support area lying at the intersection of the support level 0.9720 (which reversed the price at the start of May), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from March. The upward […]
EURUSD, “Euro vs US Dollar” After extending the correction up to 1.0606 and then finishing the first descending impulse at 1.0555, EURUSD has completed another correctional structure at 1.0580. Later, the market may fall to break 1.0500 and then continue trading downwards with the target at 1.0300. GBPUSD, “Great Britain Pound vs US Dollar” Having […]
The ECB has finally taken the lead. The minutes of the ECB meeting released yesterday showed that the influence of hawks in the Governing Council is increasing and willingness of the ECB to move to tightening as early as possible has increased significantly. A rate hike in July becomes the base case for markets, but […]
Type: Bearish ContinuationKey Levels:Resistance: 103.295Pivot: 103.125Support: 102.965Preferred Case:With price moving below the ichimoku cloud, we have a bearish bias that price will drop to our suport in line with the horizontal swing low support from our pivot in line with the horizontal swing high support and 38.2% Fibonacci retracement.Alternative scenario: Alternatively, price may break pivot […]
• Dow Jones broke support area• Likely to fall to support level 30615.00 Dow Jones index is under the bearish pressure after the price broke the support area lying between the key support level 32450.00 and the 38.2% Fibonacci correction of the upward price impulse from the end of 2020. The breakout of this support […]
• AUDUSD reversed from resistance area• Likely to fall to support level 0.700 AUDUSD recently reversed down from the resistance area lying at the intersection of the resistance level 0.7050, 20-day moving average and the 50% Fibonacci correction of the impulse wave 1 from the start of May. The downward reversal from this resistance area […]
The BTC remains as volatile as before. on Friday, the major currency is trading at $30,046 but there are a lot of doubts about whether the BTC may break it and fix above. There is nothing new here. As long as market players continue selling stocks in the US stock market, which plunged in the […]
EURUSD got rid of the pressure and intends to rise. The major currency pair is fixing within a “flat” on Friday. The current quote for the instrument is 1.0568. It seems like the comments about European inflation don’t scare anyone anymore. The ECB vice president Luis de Guindos said yesterday that the CPI would remain […]
Gold prices rose during trading on Friday, with the metal heading towards recording its first weekly gain in 5 weeks. The precious metal benefited from the US dollar’s retreat from the threshold of its highest levels in two decades, in addition to the exacerbation of concern about the growth of the US economy. And gold […]