Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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• Gold reversed from support zone• Likely to rise to resistance level 1825.00 Gold today reversed up from the support zone located between the key support at 1790.00 (which has been reversing the price from December) and the lower daily Bollinger Band. The upward reversal from the support zone is currently forming the daily Hammer […]
USDJPY moved away from its multi-month highs but the “greenback” has an ace in the hole. Early in another week of May, the Japanese Yen reached stability against the USD. The current quote for the instrument is 129.34. The statistics published in the morning showed that the Producer Price Index in Japan leaped up 10.0% […]
EURUSD, “Euro vs US Dollar” EURUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0445 and then resume moving downwards to reach 1.0115. Another signal in favour of a further downtrend will be a […]
Oil prices fell in early trading, today, Monday, May 16th; This limited investors’ gains, due to concerns about supply at a time when the European Union is preparing to ban the import of Russian oil, and also with a limited increase in OPEC production. The two benchmarks, which gained about 4% last Friday, had earlier […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed an Inverted Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of another ascending impulse. In this case, the upside target may be the resistance level at 1830.50. At […]
EURUSD, “Euro vs US Dollar” After forming a narrow consolidation range around 1.0390, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0275. Later, the market may correct to correct towards 1.0400 and then start a new decline towards 1.0243 or even extend this structure don to […]
Credit AgricoleAsia overnight The dust has tentatively settled across financial markets overnight, with risk sentiment making a timid recovery. In this context, the USD has given up only a modest part of the ground made yesterday against all G10 FX peers bar the JPY which has been a clearer underperformer during the Asian session. USD/JPY […]
Daily Market Outlook, May 13, 2022 Overnight Headlines Shanghai Aims To Achieve No Community Spread By Mid-May Rate Hike Bets Build In Japan, Despite BoJ Easy Money Insistence BoJ’s Kuroda: Expected Rise In Inflation Will Lack Sustainability Kuroda Rules Out Near-Term Chance Of Tweaking BoJ’s Dovish Guidance Australian DefMin: Chinese Spy Ship In Waters ‘An […]
Type: Bearish ReversalKey Levels:Resistance: 0.71248Pivot: 0.70107Support: 0.68466Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that prices will drop to our 1st support at 0.68466 where our horizontal swing low is at from our pivot at 0.70107 in line with horizontal swing high and 38.2% Fibonacci retracement.Alternative Scenario:Alternatively, […]
Type: Bullish BounceKey Levels:Resistance: 105.384Pivot: 103.599Support: 102.487Preferred Case:On the H4, with price expected to bounce off the Ichimoku support, we have a bullish bias that price will rise to our 1st resistance at 105.384 in line with 78.6% Fibonacci projection from our pivot of 103.599 in line with our horizontal swing low.Alternative Scenario:Alternatively, price may […]
EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0444 and then forming a new consolidation range around this level, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0290. Later, the market may correct to return to 1.0444 and then form a new descending […]
Fed chairman Jerome Powell warned markets yesterday that the central bank cannot promise a soft landing. The Fed is fighting to get inflation under control and back down to its 2% target while minimizing the impact of tightening on the economy, a so-called soft landing. However, with inflation running well above target the Fed has […]