Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
Disclaimer: Market Analysis is published for informational purposes only and should not be considered as investment advice, recommendations, or suggestions for performing any action with financial instruments. The analysis belongs to their respective authors and “Brokers Watch” is not responsible for their content.
Due to Good Friday, the currency markets are seeing some minor changes with low trading volumes and reduced liquidity. The Non-Farm Payrolls report briefly shook up prices, but it mostly met market expectations with job growth at 236K (forecasted 239K) and a 0.3% increase in wages, as anticipated. However, unemployment dropped to 3.5%, and the […]
Brent On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is approaching the support line. A test of 4/8 (87.50) should be expected, followed by growth to the resistance at 5/8 (90.62). The scenario can be canceled by a breakout of 3/8 (84.38) downwards. In […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a link of correction to 1.0936. Today the price could fall to 1.0899. Then a link of growth to 1.0938 is not excluded, followed by a drop to 1.0850. The target is local. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair continues forming […]
TitleS&P500 H4 | Potential bounce off from 23.6% TypeBullish Bounce Preference:Price is approaching our pivot level at 4084.34, which is a pullback support level and lines up with the 23.6% Fibonacci retracement level. If there is a reversal from this level, the price could potentially rise towards 1st resistance level at 4142.53. This level is […]
TitleHUSD H4 | Could ETHUSD bounce off the pivot TypeBullish Bounce Preference:Price is approaching our pivot level of 1846.94 and potentially bounce off this level, we could see momentum carry price up to its 1st resistance of 1943.61. Alternative scenario:If price breaks below the pivot level, it could hit the 1st support of 1751.07. To […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2395 is expected, followed by growth to 1.2685. An additional signal confirming the decline will be a rebound from […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The target for the correction could be 1.3545. Then the price could rebound from this level and go on with the downtrend. However, the price may drop […]
Equity market investors are getting increasingly nervous and risk-averse as the US economy continues to surprise with bearish economic reports this week. On Tuesday, it was the JOTLS data and the ISM manufacturing report, on Wednesday, the ADP employment report and PMI in the non-manufacturing sector were released, all four of which failed to meet […]
RBA Reassures Markets Over Aussie Banks In its latest semi-annual Financial Stability Review released overnight, the RBA sought to reassure markets over the health of the domestic banking sector. In light of the recent banking sector stresses seen in the US and Europe, the RBA noted that “Banks are well regulated, strongly capitalized, profitable and […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning report shows that oil traders increased their net longs last week, taking the total upside position to 181k contracts from the prior 154k contracts. This jump in bullish positioning comes on the back of 5 weeks of reductions in upside exposure which saw the total […]
TitleNZDUSD H4 | Bounced off from support level TypeBullish Bounce Preference:Price has just bounced off from our pivot point at 0.62807 , which is an overlap support along with a 61.8% Fibo retracement. Price could push up to the 1st resistance at 0.63357 , which is swing high resistance. Alternative scenario:However, if the price were […]
The Australian dollar against the US dollar has been declining for three days in a row. The current quote is 0.6689. Aussie got under pressure after the governor of the Reserve Bank of Australia Philip Lowe announced the decision to make a pause in lifting the interest rate. Before that, the rate had grown ten […]