Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bearish ReversalKey Levels:Resistance: 0.92531Pivot: 0.9213Support: 0.91433Preferred Case:Price is abiding to the descending trendline resistance, signifying an overall bearish momentum. We can expect price to drop from pivot level in line with 78.6% fibonacci projection towards 1st Support in line with 61.8% Fibonacci retracement and 127.2% Fibonacci projection. Our bearish bias is further supported by […]
Gold prices rose in trading on Tuesday, to recover from the worst selling in the yellow metal in 6 weeks, driven by bets that the Federal Reserve will raise interest rates earlier than expected. The rise in the yellow metal prices came after a significant rise in US bond yields, which led to the worst […]
Type: Bearish ReversalKey Levels:Resistance: 91.268Pivot: 90.827Support: 90.139Preferred Case:With divergence spotted on RSI, we would expect a pullback from our Pivot at 90.827 in line with 50% Fibonacci retracement towards our 1st support at 90.139 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 91.268 in line with 100% […]
Type: Bullish BounceKey Levels:Resistance: 116.586Pivot: 115.63Support: 115.045Preferred Case:Prices are on bullish momentum and consolidating in an ascending channel. We see the potential for a bounce from our Pivot at 115.63 in line with 23.6% Fibonacci retracement towards our 1st resistance at 116.586 in line with 127.2% Fibonacci extension. Our bullish bias is further supported by […]
The Royal Bank of Canada has released a report on the World Energy Outlook in 2022, which reports analysts’ forecasts for the world’s oil, gas, electricity and minerals. The report, which was issued in mid-December, included an optimistic view of energy stocks in 2022, which will be strongly reflected in crude oil prices. The Royal […]
Oil prices extended their gains to about 1% during trading today, Wednesday, with Brent crude rising near $ 81, ahead of the release of official data on US crude stocks. Crude’s gains come, supported by the decisions of the OPEC + alliance, which eased the fears and pressures of the Omicron axis in oil demand. […]
Daily Market Outlook, January 6, 2022 Overnight Headlines China Services Activity Increases Solidly During December – PMI Japan Service Sector Expands At Softer Pace In December – PMI Australia Service Sector Expansion Continues As Price Pressures Rise BoJ’s Stealth Taper: Bond Pile Shrinks For 1st Time Under Kuroda BoJ Seen Raising FY22 CPI Forecast To […]
Type: Bullish BounceKey Levels:Resistance: 131.493Pivot: 130.532Support: 130.078Preferred Case:Prices are on bullish momentum and consolidating in a bullish channel. We see the potential for a bounce from our Pivot at 130.532 in line with 61.8% Fibonacci retracement towards our 1st resistance at 131.493 in line with 78.6% Fibonacci extension. Prices are trading above our Ichimoku Clouds, […]
Futures in the United States are cautiously mixed following the Fed’s induced retreat. US stock futures were narrowly mixed Thursday, with the technology-heavy Nasdaq Composite set for another round of losses after minutes from the Federal Reserve’s most recent policy meeting signaled a faster pace for stimulus withdrawal and interest rate hikes, while traders looked […]
European Forex news roundup: USD/JPY falls from highs as Treasury rates remain unchanged The latest forex news from the European market session on January 5, 2022. The market is still contemplative as we await US ADP statistics and the FOMC meeting minutes later today. European stocks are holding steady with modest increases, while US futures […]
Crude Back In DemandCrude traders have had a strong start to the year with crude futures trading in the green over the first full week of 2022 trading so far. On the back of hefty position reductions across the end of 2021 it seems that long positions are once again being rebuilt in crude as […]
CIBCFX FlowsThere has been a fierce rotation in stocks. Investors rushed to liquidate shares of tech companies, which has surged during the pandemic. Nasdaq Composite fell near 3.3% and we also saw sell off in the US Treasury bond market. Report in FT said that investors moved into automakers like Ford and GM, as well […]
