Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
Type: Bearish ReversalKey Levels:Resistance: 96.092Pivot: 95.944Support: 95.648Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 95.944 in line with 38.2% Fibonacci retracement towards our 1st support at 95.648 in line with 61.8% Fibonacci extension. RSI is showing bearish momentum.Alternative Scenario:Alternatively, prices […]
Looking To BreakoutThe New Zealand Dollar has been one of the best performers this week as a hawkish shift in RBNZ expectations is helping support NZD. Given the heavily bearish sentiment we’d seen up until the last week, there is plenty of position covering going on which is helping drive NZD higher here.One chart which […]
Type: Bullish BounceKey Levels:Resistance: 157.128Pivot: 156.4 Support: 156.053Preferred Case:Prices are consolidating in a triangle pattern. We see the potential for bullish continuation from our Pivot at 156.4 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci retracement towards our 1st resistance at 157.128 in line with 61.8% Fibonacci retracement. Prices are transcending above our Ichimoku […]
BRENT As we can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming another Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, the upside target may be the resistance area at 1.2815. However, an alternative scenario implies that the […]
Leaving for the weekend, there seem to be more questions about the Russian-Ukrainian tension than there are answers. The diplomatic game is likely to extend much longer than for the upcoming week, which adds to the confidence that traditional safe heavens and greenback will remain immune to sellers’ encroachments for some time.Despite some signs of […]
Amazon Shares at Key JunctureFollowing some initial downside action in response to Q4 earnings, Amazon shares have since been back in demand. Amazon reported a strong beat on earnings per share, which rose to $27.76, well above the $3.61 forecasts. Revenues, however, were slightly lower, which resulted in some short term selling, before price rebounded […]
• GBPCAD reversed from resistance level 1.7300 • Likely to fall to support level 1.7155. GBPCAD currency pair recently reversed down from the resistance level 1.7300 (which has been repeatedly reversing the price from the start of January). The resistance zone near the resistance level 1.7300 was strengthened by the upper daily Bollinger Band. Given […]
XAGUSD, “Silver vs US Dollar” XAGUSD is trading at 23.93; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 23.60 and then resume moving upwards to reach 25.15. Another signal in favour of a further uptrend will be a […]
EURUSD, “Euro vs US Dollar” EURUSD is still consolidating around 1.1358. If the price breaks this range to the downside, the market may start a new decline to reach 1.1320 or even extend this structure down to 1.1255; if to the upside – resume trading within the uptrend with the target at 1.1400. GBPUSD, “Great […]
Type: Bearish ContinuationKey Levels:Resistance: 14602Pivot: 14034Support: 13834Preferred Case:With price expected to bounce off the stochastics, we may see a rise from our pivot of 14034 in line with the horizontal swing low support and 61.8% Fibonacci projection to 1st resistance of 14602 in line with the 50% Fibonacci retracement level and horizontal overlap resistance.Alternative Scenario:Alternatively, […]
Type: Bullish ContinuationKey Levels:Resistance: 1909.2Pivot: 1890.7Support: 1881.3Preferred Case:Prices are consolidating in a parallel channel and are on bullish momentum. We see the potential for further bullish continuation from our Pivot at 1890.7 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1909.2 in line with 100% Fibonacci extension and 127.2% Fibonacci expansion. Prices […]