Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is trading at 0.6708; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6755 and then resume moving downwards to reach 0.6590. Another signal in favour of a further downtrend will […]
Daily Market Outlook, January 24, 2022 Overnight Headlines Renewed Downturn In Japanese Private Sector Activity In Jan – PMI Australian Private Sector Output Shrinks Amid Covid-19 Hit – PMI Fed Expected To Back First Pandemic-Era Interest Rate Rise In March Goldman Sees Risk Fed Will Tighten At Every Meeting From March ECB’s Holzmann: Euro Area […]
Type: Bullish BounceKey Levels:Resistance: 40596.7Pivot: 35251.6Support: 33937.23Preferred Case:Price is abiding to the descending channel, signifying an overall bearish momentum. However, price is reacting at the support level of the channel, hence, we can expect a short-term bullish bounce from the pivot level. We can potentially see price bounce from the pivot level in line with […]
XAUUSD, “Gold vs US Dollar” As we can see in the daily chart, XAUUSD is still forming another rising wave within the uptrend and may soon reach 50.0% fibo. Later, the pair is expected to continue the uptrend to reach 61.8% and 76.0% fibo at 1908.00 and 1969.50 respectively. The key support remains at the […]
EURUSD, “Euro vs US Dollar” After completing the ascending impulse at 1.1359, EURUSD is correcting towards 1.1330, thus forming a new consolidation range between these two levels. If later the market breaks the range to the upside, the price may form one more ascending structure towards 1.1400 or even reach the target at 1.1427; if […]
Type: Bullish BounceKey Levels:Resistance: 95.983Pivot: 95.532Support: 95.413Preferred Case:Prices are on bullish momentum and consolidating in a triangle pattern. We see the potential for further bullish continuation towards our intermediate resistance at 95.984 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Breaking the intermediate resistance could find prices going higher towards our 1st resistance […]
Type: Bullish BounceKey Levels:Resistance: 114.233Pivot: 113.61Support: 113.473Preferred Case:Prices are consolidating in a triangular pattern. We see the potential for a bounce from our Pivot at 113.61 in line with our ascending trendline support towards our 1st resistance at 114.233 in line with 50% Fibonacci retracement and 23.6% Fibonacci retracement. RSI is at level where bounces […]
In the outgoing week, the main trading theme was high inflation and a possible reaction of central banks to it at the upcoming meetings. Oil gained significantly, while bond yields rose reflecting inflation anxiety. The yield on 10-year treasury bonds, after breakout of the local high of 1.8%, was able to test the level of […]
Type: Bullish BounceKey Levels:Resistance: 1.13889Pivot: 1.13Support: 1.12831Preferred Case:Prices are at a pivot and are abiding to our daily ascending trendline support. We see the potential for a bounce towards our 1st resistance at 1.13888 in line with 50% Fibonacci retracement and 161.8% Fibonacci Projection. RSI are at levels where bounces previously occurred.Alternative Scenario:Alternatively, prices may […]
Type: Bearish ReversalKey Levels:Resistance: 41443.73Pivot: 40593.22Support: 38960.24Preferred Case:Price is abiding to the descending channel, signifying an overall bearish momentum. We can expect price to retrace a little to the pivot level in line with 23.6% Fibonacci retracement towards 1st Support in line with 127.2% Fibonacci projection. Our bearish bias is further supported by the Ichimoku […]
The BoE will remain on its rate hiking path in February as inflation is well above its target and the economy-threatening impact of the omicron strain should be milder than previous variants of the coronavirus, a Reuters poll showed.The Bank of England was the first major central bank to hike interest rate in December – […]
Type: Bearish ReversalKey Levels:Resistance: 114.646Pivot: 114.646Support: 112.547Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 113.908 in line with 61.8% Fibonacci retracement towards our 1st support at 112.547 which is a graphical swing low and area of fibonacci confluences.Alternative Scenario:Alternatively, prices […]