Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bullish BounceKey Levels:Resistance: 4.7535Pivot: 4.6945Support: 4.6700Preferred Case:We see the potential for a bounce from our pivot at 4.6945 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 4.7535 in line with 138.2% Fibonacci extension. Our bullish bias is supported by price trading above the Ichimoku cloud indicator.Alternative Scenario: […]
• Gold broke resistance level 1960.00• Likely to rise to resistance level 2000.00 Gold recently broke the resistance level 1960.00 (which stopped the previous corrective wave A at the end of March). The breakout of the resistance level 1960.00 coincided with the breakout of the 38.2% Fibonacci correction of the previous downward wave (A). Gold […]
• GBPCHF reversed from support level 1.2120• Likely to rise to resistance level 1.2225 GBPCHF currency pair earlier reversed up sharply from the pivotal support level 1.2120 (which stopped the previous minor impulse wave 1 at the start of March). The upward reversal from the support level 1.2120 stopped the previous impulse waves (iii), 3 […]
NZDUSD rose after the RBNZ’s decisions but couldn’t keep up. The New Zealand Dollar rose pretty much against the USD in the morning but couldn’t keep the positive momentum later. The current quote for the instrument is 0.6788. During its April meeting, the Reserve Bank of New Zealand raised the benchmark interest rate by 50 […]
EURUSD remains weak and continues retreating. The major currency pair hit the lowest levels of the month. The current quote for the instrument is 1.0834. Yesterday’s key highlight was the CPI report from the US. The indicator showed 8.5% y/y in March after being 7.9% y/y in the previous month and against the expected reading […]
Type: Bearish ReversalKey Levels:Resistance: 778’0Pivot: 772’6Support: 762’0Preferred Case:We see the potential for a bearish reversal from our pivot at 772’6 in line with 61.8% Fibonacci retracement towards our 1st support at 762’0 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is trading […]
Type: Bullish BounceKey Levels:Resistance: 1975.4Pivot: 1952.8Support: 1943.0Preferred Case:Prices are on bullish continuation. We see the potential for further bullish continuation from our Pivot at 1952.8 in line graphical overlap and 38.2% Fibonacci retracement towards our 1st resistance at 1975.4 in line with 61.8% Fibonacci Projection . Prices trading above our Ichimoku cloud support.Alternative Scenario:If prices […]
Type: Bullish BounceKey Levels:Resistance: 25.590Pivot: 25.125Support: 24.965Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 25.125 which is a graphical overlap and 38.2% Fibonacci retracement towards our 1st resistance at 25.590 and graphical swing high. Prices are trading above our Ichimoku clouds , further supporting our bullish […]
Risk Appetite Weakens Amidst Fresh Ukraine FearsGlobal equities indices have come back under pressure this week amidst the ongoing softening in risk appetite. Investors have been shocked and concerned over recent news regarding the Russia-Ukraine conflict. News of mass civilian murders in various parts of Ukraine, as well as the more recent news this week […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2595. However, an alternative scenario implies that the asset may correct […]
AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue growing to reach the resistance at 7/8. However, this scenario may no longer […]
The Canadian dollar recovers from a four-week low as investors assess US inflation data. On Tuesday, the Canadian dollar edged higher against the US dollar, recovering from its lowest level in nearly four weeks, as oil prices rose and US data showed underlying inflation rising less than expected in March. The 12-month increase in core […]