Market Analysis

• Dow Jones reversed from support zone • Likely to rise to resistance level 36400 Dow Jones index recently reversed up with the weekly Hammer from the support zone lying between the key support level 33425.00 (which has been reversing the index from the start of 2021) and the lower weekly Bollinger Band. This support zone […]

• Natural gas broke resistance zone • Likely to rise to resistance level 5.50 Natural gas recently broke the resistance zone lying between the key resistance level 4.500 (top of the previous impulse wave 1) and the 50% Fibonacci correction of the previous sharp downward impulse from November The breakout of this resistance zone accelerated the active […]

GBPUSD, “Great Britain Pound vs US Dollar” As we can see in the H4 chart, after falling and reaching 61.8% fibo, GBPUSD is correcting upwards. If this correctional uptrend is transformed into a proper rising wave, the price may grow to break the local high at 1.3749 and then reach the key resistance at 1.3834. […]

GBPUSD took a break amid a series of increases; however, it is still looking great.  The British Pound paused its growth against the USD on Wednesday. The current quote for the instrument is 1.3533. The statistics published by the United Kingdom were reasonably positive. For example, the Mortgage Approvals showed 71K in December after being […]

CAD GDP Up NextThe release of Canadian GDP today will be closely watched following the recent BOC meeting. While the bank somewhat disappointed CAD bulls by holding off from any policy adjustments, it was firmly hawkish in its outlook. In terms of guidance, the BOC governor said that the bank expects to make several adjustments […]

AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 2/8. However, this scenario may no […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Long-Legged Doji reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target is the resistance area at 1830.00. At the same time, an opposite scenario […]

Job postings in the United States surged to near record highs in December, implying that the slowdown in employment growth at the close of last year was mostly due to labor shortages. Job vacancies, a gauge of labor demand, increased by 150,000 to 10.9 million on December 31st, not far from the all-time high of […]

Long-term rates in the US have been creeping down for the fourth session in a row amid warnings from major US investment banks that previous forecasts for the growth of the US economy for 2022 may be too optimistic. Goldman lowered its growth forecast for 1Q and for the full year for the third time […]

Rate Hikes Off The Table For NowThe Australian Dollar has been a little weaker over the European session so far on Tuesday following the February RBA meeting overnight. The RBA held off from announcing any rate hikes though the bank did outline that its pandemic-driven stimulus program would now cease. So far so good, this […]

EURUSD, “Euro vs US Dollar” Having completed the ascending wave at 1.1180 along with the correction towards 1.1144. EURUSD is growing with the short-term target at 1.1300. Later, the market may start a new correction to reach 1.1222 and then form one more ascending structure with the target at 1.1320. GBPUSD, “Great Britain Pound vs […]

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1241; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1275 and then resume moving downwards to reach 1.1040. Another signal in favour of a further downtrend will be […]