Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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The major currency pair slowed down a little bit after skyrocketing earlier. EURUSD reached stability after strengthening last week. The current quote for the instrument is 1.1421. Last Friday, the US reported on the labour market for January. The data was a little bit mixed but still showed that the sector was doing fine. For […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, the asset is correcting upwards after plummeting before. Divergence on MACD, which made the pair form the first descending wave earlier, may force the second one. The closest downside target may be 61.8% fibo at 1730.00. However, an alternative scenario implies that […]
Metals On the Rise Despite Solid US Labour DataThe metals complex has started the week on a positive footing with both gold and silver rising across the European open on Monday. Indeed, metals prices find themselves better bid despite the US Dollar starting the week in the green also. On Friday, the January US labour […]
Credit AgricoleAsia overnightIt was a quiet start to the week in Asia with the markets anxiously waiting on US CPI data later in the week. China returned from the Lunar New Year holidays and its equity markets saw a rally. A small majority of Asian bourses were trading higher and S&P500 futures slightly in the […]
Daily Market Outlook, February 4, 2022 Overnight Headlines Fed’s Barkin: Rates Should Move To Pre-Pandemic Levels Fed Nominees Face Intense GOP Assault Over Credentials Biden Approval Rating Plummets To New A Low, Poll Sees US Warn China Firms Against Aiding Russia Amid Sanction Ukraine Briefings Spurs Urgency On Sanctions In Congress BoJ’s Kuroda Vows To […]
Type: Bullish BounceKey Levels:Resistance: 1.15831Pivot: 1.14248Support: 1.13111Preferred Case:With price moving above the ichimoku cloud, we have a bullish bias that price will rise up to our 1st resistance at 1.15831 in line with the 127.2% Fibonacci extension from our pivot at 1.14248 in line with the horizontal overlap support.Alternative Scenario:Alternatively, price may break our pivot […]
Type: Bullish BounceKey Levels:Resistance: 0.9321Pivot: 0.91732Support: 0.91379Preferred Case:Price is abiding to the ascending channel, signifying an overall bullish momentum. Price is at the graphical overlap support, we can expect to bounce from the pivot level in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci projection. Our […]
BRENT 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 break 6/8 and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks 5/8 to the […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Stick Sandwich reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target remains the resistance area at 1830.00. At the same time, an opposite scenario […]
Type: Bullish BounceKey Levels:Resistance: 0.72269Pivot: 0.71115Support: 0.70865Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 0.71115 in line with 23.6% Fibonacci retracement towards our 1st resistance at 0.72269 in line with 78.6% Fibonacci extension. Prices are trading above Ichimoku, further supporting our bullish bias.Alternative Scenario:Alternatively, prices may […]
Type: Bullish BounceKey Levels:Resistance: 83.739Pivot: 82.121Support: 81.403Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 82.121 in line with 38.2% Fibonacci retracement towards our 1st resistance at 83.739 in line with 61.8% Fibonacci extension and 200% Fibonacci Projection. Prices are trading above our ichimoku cloud support further […]
• EURNZD broke key resistance level 1.7150 • Likely to rise to resistance level 1.7500 EURNZD currency pair continues to rise sharply after breaking the key resistance level 1.7150 (previous multi-month high from the middle of last August). The breakout of the resistance level 1.7150 accelerated the active intermediate impulse wave (5). EURNZD currency pair […]