Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Iraq is preparing to reap many profits from the rise in oil prices, which have been trading above the $100 per barrel barrier since the beginning of this year. Iraq expects that there will be no budget deficit, supported by the rise in crude prices, with financial savings that will be directed to a number […]
Type: Bullish RiseKey Levels:Resistance: 62005Pivot: 61328Support: 61328Preferred Case:With price moving within the ascending trend channel and above the ichimoku cloud, it supports our bullish bias that price will bounce off the pivot at 61328 in line with the confluence area with 50% fibonnaci retracement, 23.6% fibonacci retracement and 78.6% fibonacci projection , to the 1st […]
Type: Bullish BounceKey Levels:1st Resistance: 771’62nd resistance: 785’6Pivot: 760’2Support: 749’4Preferred Case:With price reaching the bottom of the trend channel and is expected to move within it, we have a bullish bias that price will rise from the pivot level at 760’2 in line with 78.6% Fibonacci projection and 161.8% Fibonacci extension , to the 1st […]
• EURCAD continues daily downtrend• Likely to fall to support level 1.3600 EURCAD recently reversed down from the pivotal resistance level 1.3755 (which reversed the pair multiple times from April). The resistance level 1.3755 is further strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci retracement of the previous downward impulse from […]
• EURGBP reversed from resistance level 0.8590• Likely to fall to support level 0.8450 EURGBP currency pair recently reversed down from the key resistance level 0.8590 (which has been reversing the price from last November) strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 0.8590 is currently forming the daily […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY is rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may slightly correct and test Kijun-Sen at 127.75, and then resume moving downwards to reach 124.65. Another signal in favour of a further downtrend […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming reversal patterns, such as Hammer, close to the support level, USDCAD may reverse in the form of another ascending impulse. In this case, the upside target may be at 1.2950. However, an alternative scenario implies that the asset may […]
USD Poised for FOMC MovesTonight’s FOMC minutes release will of course be centre stage for traders. The recent squaring of long positions in USD puts the Dollar in a very interesting place ahead of the event because on the one hand, if the minutes are encouraging for USD, there is plenty of room for capital […]
GBPCAD On Watch Price action in GBPCAD is looking interesting here. The pair has been moving lower in a tight bearish channel over recent months. However, the most recent lows saw strong bullish divergence with price subsequently breaking out above the bear channel highs. In light of these movements, we are now potentially dealing with […]
Type: Bullish BreakoutKey Levels:Resistance: 14609Pivot: 14149Support: 13735Preferred Case:On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price may reverse and rise from our pivot at 14149 overlap support in line with 50% fibonacci retracement, to our 1st resistance at 14609 in line with the 100% fibonacci projection and […]
Type: Bullish BounceKey Levels:Resistance: 0.65474Pivot: 0.64133Support: 0.62898Preferred Case:On the H4, with price moving above the Ichimoku cloud and price breakout from the descending trendline, we have a bullish bias that price will rise to our 1st resistance at 0.65474 where the 38.2% Fibonacci retracement and horizontal swing high resistance are from our pivot at 0.64133 […]
EURUSD, “Euro vs US Dollar” After forming a new consolidation range around 1.0540 and breaking it to the upside, EURUSD is expected to continue the correction up to 1.0719. Later, the market may resume falling to break 1.0460 and then continue trading downwards with the target at 1.0300. GBPUSD, “Great Britain Pound vs US Dollar” […]