Market Analysis

Type: Bearish Drop Key Levels:Resistance: 681.75Pivot: 688.00Support: 668.25 Preferred Case:On the H4, with the price reflecting off the 61.8% Fibonacci retracement line and the price being inside ichimoku cloud, we have a neutral bias on corn. price could back to 668.25 where the previous swing low is. Alternative Scenario:Alternatively, price might go back up towards […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset may reverse in the form of a new ascending impulse. In this case, the upside correctional target may be at 1685.00. At the same […]

EURUSD, “Euro vs US Dollar” EURUSD is falling towards the downside border of the consolidation range at 0.9945 and may later grow to test 0.9990 from below. After that, the instrument may start a new decline with the target at 0.9890, or even extend this structure down to 0.9800. GBPUSD, “Great Britain Pound vs US […]

Type: Bearish Drop Key Levels:Resistance: 3.5555Pivot: 3.4755Support: 3.3695 Preferred Case:On the H4, with price below the ichimoku indicator and RSI is moving within a descending trendline, we have a bearish bias that the price may drop from the pivot at 3.4755, which is in line with the overlap support to the 1st support at 3.3695, […]

Type: Bullish Rise Key Levels:Resistance: 20820Pivot: 19340Support: 18330 Preferred Case:On the H4, price has bounced off the support level and broken the swing low, we’re looking for a break out of 19340 levels where the 78.6% retracement sits. If bullish momentum continues, it should bring price to 20820 where the 78.6% projection sits Alternative Scenario:Alternatively, […]

The FOMC meeting is due tomorrow and policymakers are expected to lift interest rate by 75 basis points. The odds of a larger rate hike of 100 bps are estimated at 20%. Hawkish US inflation report for August ruled out any possibility of easing the pace of tightening. The Market’s focus will also be on […]

Type: Bearish Drop Key Levels:Resistance: 8.340Pivot: 7.675Support: 7.365 Preferred Case:On the H4, price has bounced off the 127.2% extension levels forming a triple bottom. We have a bullish bias that the price may rise from the pivot at 7.675, which is in line with the 50% fibonacci retracement to 1st resistance at 8.340, where the […]

• NZDUSD broke round support level 0.6000 • Likely to fall to support level 0.5800 NZDUSD currency pair recently broke below the round support level 0.6000 (which stopped the earlier minor impulse wave (i) at the start of this month). The breakout of the support level 0.6000 accelerated the active impulse waves 3 and (iii) […]

• AUDNZD broke resistance level 1.3200 • Likely to rise to resistance level 1.1400 AUDNZD currency pair recently broke above the resistance level 1.3200 (which has been reversing the price from the end of April). The breakout of the resistance level 1.3200 coincided with the breakout of the extended up channel from April, which accelerated […]

EURUSD, “Euro vs US Dollar” EURUSD is still consolidating around 0.9992; it has already expanded the range up to 1.0049 and is currently falling to return to 0.9992. If later the price breaks this range to the downside, the market may form a new descending wave to reach 0.9800; if to the upside – resume […]

AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to break 2/8 and continue falling to reach the support at 0/8. However, this scenario may no longer be valid […]

EURUSD, “Euro vs US Dollar” EURUSD is correcting within the Wedge pattern. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0045 and then resume moving downwards to reach 0.9845. Another signal in favour of a further […]