Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bullish MomentumKey Levels:Resistance: 969.1Pivot: 945.2Support: 913.5Preferred Case:On the H4, the MACD indicator shows that price is in a bullish pressure area, while stochastics shows an upward trend, which supports our bullish bias that price will rise from the pivot at 945.2 at the overlap support and in line with the 38.2% fibonacci retracement to […]
Type: Bullish RiseKey Levels:Resistance: 17.980Pivot: 17.430Support: 16.990Preferred Case:Price is moving within the ascending trend channel and is breaking through the ichimoku cloud in an uptrend momentum which supports our bullish bias that price will rise from the pivot at 17.430 where the pullback support is to the 1st resistance at 17.980 in line with the […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, such as Shooting Star, close to the resistance level, USDCAD is reversing in the form of another descending impulse. In this case, the downside target may be at 1.2620. However, an alternative scenario implies that the […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, EURUSD is within the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at +1/8 […]
Kuroda Comments Weigh on JPYThe Japanese Yen is under pressure once again today, not least from the rebound in risk sentiment which is sapping safe-haven flows. BOJ governor Kuroda was seen making a series of dovish comments to Japanese parliament overnight. Kuroda told lawmakers that the BOJ will continue with its huge monetary easing program […]
Type: Bullish RiseKey Levels:Resistance: 731’3Pivot: 699’2Support: 684’6Preferred Case:Price is moving along the ascending trendline and is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 699’2 where the pullback support is to the 1st resistance at 731’3 in line with the 78.6% fibonacci projection , 61.8% […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from Tenkan-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2545 and then resume moving upwards to reach 1.2905 Another signal in favour of a further uptrend will be […]
EURUSD, “Euro vs US Dollar” After forming a new consolidation range around 1.0700, EURUSD is expanding it up to 1.0761 and may later fall to return to 1.0700. If the price breaks this range to the upside, the market may continue the correction up to 1.0820; if to the downside – resume moving within the […]
EasyJet Testing Bearish Channel Shares in UK airliner EasyJet are reversing lower from initial gains following today following the firm coming under criticism following the latest wave of flight cancellations over the week. Holidaymakers and other passengers were left in distress following the cancellation of around 200 flights which left some UK airports in chaos […]
The macro data on the US economy released on Friday showed that high inflation in April failed to stifle consumer momentum in an economy that has a history dating back to post-COVID fiscal stimulus. Although household incomes did not grow as fast as expected (0.4% m/m, vs. 0.5% expected), consumers increased spending by 0.9% m/m, […]
• GBPCAD reversed from resistance level 1.6175• Likely to fall to support level 1.5950 GBPCAD recently reversed down from the key resistance level 1.6175 (top of the earlier minor correction from the start of May). The resistance area near the resistance level 1.6175 was further strengthened by the upper daily Bollinger Band and by the […]
• EURJPY broke resistance level 136.60• Likely to rise to resistance level 138.00 EURJPY currency pair continues to rise after the earlier breakout of the resistance level 136.60 (which stopped the previous minor wave (i)). The breakout of the resistance level 136.60 continues the active minor impulse wave (iii) of the higher-order impulse wave 3 […]