Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bearish Drop Key Levels:Resistance: 31860Pivot: 31240Support: 30417 Preferred Case:On the H4, with price breaking the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to pivot at 31240 where the swing low support and 78.6% fibonacci projection are. Once there is downside confirmation that price has […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Harami reversal pattern at the support level. Going by the reversal signal, the pair might end up in an ascending impulse. The goal of growth should be 1.3245; later the price might break through it continue growing. However, the quotes might pull […]
• CHFJPY broke key resistance level 143.10 • Likely to rise to resistance level 146.00 CHFJPY currency pair recently broke the key resistance level 143.10, which has been reversing the price from the end of June, as you can see from the daily CHFJPY chart below. The breakout of the resistance level 143.10 accelerated the […]
• EURJPY broke key resistance level 139.50 • Likely to rise to resistance level 142.30 EURJPY currency pair recently broke the key resistance level 139.50 standing close to the 61.8% Fibonacci correction of the earlier downward ABC correction (2) from June. The price earlier broke the resistance trendline of the daily down channel from the […]
Chinese renminbi, being in a free fall, started to worry China’s central bank, which eventually responded quite decisively, reducing the reserve ratio for banks from 8% to 6%. The new policy change will come into effect on September 15. The lower RRR will free up additional liquidity for banks, allowing them to increase lending, thus […]
Type: Bearish Drop Key Levels:Resistance: 0.0072125Pivot: 0.0070865Support: 0.0070165 Preferred Case:On the H4, with price moving below the ichimoku indicator, and within the descending trendline, we have a bearish bias that price will drop from pivot at 0.0070865 where the current price and 78.6% fibonacci projection are to the 1st support at 0.0070165 where the 100% […]
On Tuesday, the Australian dollar is losing positions against its American colleague. The current quote is 0.6775. At a meeting in September, the Reserve Bank of Australia decided to lift the interest rate from 1.85% to 2.35%, as expected. The RBA then commented that it would do everything possible to bring inflation to its target […]
The British pound against the USD has been trying to recover for two days in a row. The current quote is 1.1597. The main political intrigue of the month finally came to its ending: Liz Truss became the new Prime Minister of Great Britain. She is simultaneously the head of the Conservative Party. In fact, […]
Change In Leader to Be Announced Shortly UK citizens and traders alike are bracing for today’s announcement regarding the Conservative Party leadership contest. The contest, between Rishi Sunak and Liz Truss, has been a largely dull affair with polling consistently showing Truss ahead of Sunak from the start. Consequently, the expectation today is that Truss […]
OPEC On Watch Oil traders will be paying close attention to today’s OPEC+ meeting. Following recent headlines around a potential production cut, OPEC sources have reportedly leaked that the group is said to be considering weighing up whether to keep current production quotas in place for October or cutting production slightly. Last month we heard […]
EURUSD, “Euro vs US Dollar” The pair is testing the signal lines of the indicator upon bouncing off the support area. It is moving under the Ichimoku Cloud, indicating a downtrend. A test of the lower border of the Cloud is expected at 0.9985, followed by falling to 0.9735. An additional signal confirming the decline […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, AUDUSD quotes are in the oversold area. Currently, the level of 0/8 is expected to be taken, followed by growth to the resistance level of 1/8. The scenario can be cancelled by a breakaway of the support level of -1/8 downwards. In this case, the pair is […]