Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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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 […]
• EURNZD broke daily up channel • Likely to fall to support level 1.6800 EURNZD currency pair recently broke the round support level 1.700, intersecting with the support trendline of the daily up channel from last November. The breakout of the support level 1.700 accelerated the active minor impulse wave (i) – which belongs to […]
• WTI broke round support level 90.00 • Likely to fall to support level 86.00 WTI crude oil recently broke the round support level 90.00, intersecting with the support trendline of the daily up channel from December and the 38.2% Fibonacci correction of the previous upward impulse from January. The breakout of the support level […]
The BTC dropped 7% over the last 24 hours due to huge sales on the US stock market; there is a direct correlation between NASDAQ and the BTC. So, NASDAQ is currently dominated by bears. The BTC capitalisation dropped to $770 billion with a daily turnover of about $22 billion. The crypto market does have […]
The statistics help GBPUSD to keep its positive momentum. The British Pound continues rising against the USD on Friday. The current quote for the instrument is 1.3622. The statistics published earlier today showed that Retail Sales in the United Kingdom added 1.9% m/m in January after losing 4.0% m/m in the previous month and […]