Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Oil prices rose during trading today, Wednesday, June 1, 2022, after European Union leaders agreed on a partial and gradual ban on Russian oil, coinciding with China ending its closure due to Covid-19 in Shanghai. Oil prices had concluded yesterday’s session, amid volatile trading; US crude turned lower, while Brent crude rose near $123. Oil […]
Type: Bullish ContinuationKey Levels:Resistance: 801.30Pivot: 783.50 Support: 764.45Preferred Case:On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will continue to rise from the pivot at 783.50 in line with the overlap support to the resistance at 801.30 in line with the 61.8% fibonacci retracement and 78.6% […]
Type: Bearish ContinuationKey Levels:Resistance: 1.2660Pivot: 1.2622Support: 1.2554Preferred Case:With price reversing off the ichimoku cloud resistance, we have a bearish bias that price will drop to our support in line with the horizontal swing low support, 38.2% fibonacci retracement and 23.6% fibonacci retracement from our pivot in line with the horizontal swing high resistance and 50% […]
EU leaders were able to agree on a sixth package of sanctions last night that would include an embargo on Russian oil, excluding pipeline supplies to landlocked countries. The decision to hit Russia’s export revenues will have a high cost in potentially higher inflation and lower EU growth. The ECB’s search for a compromise between […]
LSE Suspends Gazprom As of May 31stThe London Stock Exchange announced today that it has suspended shares of Russian state-owned energy supplier Gazprom from trading. The company reportedly requested its shares be suspended a full month ago with May 31st the agreed date for the suspension to become active.Notably the suspension comes just as the […]
EURUSD is trying to keep its positive momentum but investors prefer to wait for new catalysts. The major currency pair is consolidating on Tuesday but may resume rising if the situation allows. The current quote for the instrument is 1.0730. The beginning of this week was rather calm from the viewpoint of statistics and important […]
USDJPY is back to rising; demand for the “safe haven” Yen dropped. The Japanese Yen is falling against the USD on Tuesday. The current quote for the instrument is 128.05. The global risk attitude is currently quite positive. This is one of the reasons why the demand for the Yen declined. The statistics published in […]
Type: Bearish MomentumKey Levels:Resistance: 62760Pivot: 62027Support: 61455Preferred Case:On the H4, price is moving below the ichimoku cloud and breaking out from the ascending channel which supports bearish bias that price will rise to and drop from our pivot at 62027 in line with the 50% fibonacci retracement and pullback resistance to the support at 61455 […]
Type: Bearish ContinuationKey Levels:Resistance: 14864Pivot: 14576 Support: 14297Preferred Case:On the H4, price has recently reversed off the pivot at 14576 in line with the overlap resistance and the confluence area at 78.6% fibonacci retracement and 100% fibonacci projection and may drop to the overlap support level at 14297 in line with the 38.2% fibonacci retracement […]
EURUSD, “Euro vs US Dollar” Having expanded the consolidation range up to 1.0777, EURUSD is expected to correct down to 1.0731 and may later form one more ascending structure towards 1.0820. After that, the instrument may resume moving within the downtrend with the target at 1.0630. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is […]
AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no […]
The US dollar rose across the board on Tuesday as Treasury yields rose and investors’ risk appetite was dampened by concerns about a further acceleration in global inflation. The dollar was bolstered by demand for safe havens. Stocks in the United States fell on Tuesday as investors were alarmed by rising oil prices and hawkish […]