Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Credit AgricoleAsia overnightRisk-off trading dominated the Asian session as the higher-than-expected US inflation reading and hawkish rhetoric from the FOMC’s James Bullard ramped up market expectations of a more front-loaded rate hiking cycle. UST 10Y yields retreated only modestly from their high of 2.05% and remain above 2%. A majority of Asian bourses and S&P500 […]
• Brent reversed from support zone • Likely to rise to resistance level 93.35 Brent recently reversed up from the support area located between the key support level 90.00 (former resistance from January), 38.2% Fibonacci correction of the upward impulse (i) from January and the support trendline of the daily up channel from December. The […]
• Platinum reversed from resistance zone • Likely to fall to support level 1000.00 Platinum recently reversed down from the resistance zone lying between the pivotal resistance level 1055.00 (which has been reversing the price from last month), upper daily Bollinger Band, 200-day moving average and the 61.8% Fibonacci correction of the downward impulse from […]
GBPUSD remained volatile and got under pressure on Friday. The British Pound is falling against the USD on Friday. The current quote for the instrument is 1.3552. The United Kingdom released a lot of macroeconomic reports today and investors had no choice but respond. The British GDP in December 2021 dropped 0.2% m/m after adding […]
AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD has completed the first correctional wave to the upside after testing 23.6% fibo. The current decline may be heading to break the low at 0.6967 and then continue down to 50.0% fibo at 0.6758. However, as long as the price […]
USD Ending the Week HigherThe US Dollar is trading on a better footing into the end of this week following a further lift from the US January CPI reading yesterday. Headline inflation was seen rising 0.6% on the month, better than the prior month’s 0.5% reading and the expected 0.4% reading the market was looking […]
Well, it’s been a much quieter week for FX markets. On the back of the US jobs report last week the market appears to be awaiting the next major catalyst. We have seen some interesting moves, however, with the reversal lower in EUR, and strength in AUD and NZD headlining the week’s action. However, talking […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Inverted 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 1.2740. However, an alternative scenario implies that […]
Type: Bearish ContinuationKey Levels:Resistance: 152″18Pivot: 154’05Support: 152’14Preferred Case:With price moving below the Ichimoku cloud, we are biased that price retest at our pivot of 154’05 in line with the 38.2% Fibonacci retracement and horizontal overlap resistance and dip to our 1st support at 152’14 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price could […]
Type: Bullish ContinuationKey Levels:Resistance: 15256Pivot: 14812Support: 14512Preferred Case:With price moving above the ichomoku cloud, we are bias that price will retest at the pivot at 14812 in line with the 38.2% Fibonacci retracement level and horizontal overlap support to 1st resistance at 15256 in line with the horizontal overlap resistance and 61.8% Fibonacci projection level.Alternative […]
EURCAD, “Euro vs Canadian Dollar” EURCAD is trading at 1.4477; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4445 and then resume moving upwards to reach 1.4740. Another signal in favour of a further uptrend will be […]
USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after rebounding from the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 8/8, break it, and continue growing to reach the resistance at +1/8. However, this scenario may be cancelled […]