Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Credit AgricoleAsia overnightThe USD has extended its gains against all its G10 FX peers at the start of this week, as the Antipodeans’ FX are underperforming in the wake of broad equity losses. Of special note, NZD/USD has dipped below 0.6350 for the first time since H120, while AUD/USD has slipped back toward the big […]
As global growth concerns mount, the Canadian dollar falls to a five-month low. On Monday, the Canadian dollar fell to its lowest level in nearly five months against the US dollar, as investors became more concerned about the global economic outlook after China’s two largest cities tightened COVID-19 curbs. Global stock markets extended recent losses, […]
Type: Bearish ContinuationKey Levels:Resistance: 783’4Pivot: 778’0Support: 767’2Preferred Case:With the Ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 78.6% Fibonacci retracement and horizontal pullback support from our pivot of 778’0 in line with the horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot […]
Metals Markets Falling On Higher USD Gold and silver remain subdued this week as recent strength in the US Dollar continues to act as a barrier. With the Fed having hiked rates by .5%, and signalling further .5% hikes to come, USD remains firmly in demand. The Fed cited excessive inflation and tightness in the […]
• WTI crude oil reversed from resistance zone• Likely to fall to support level 105.00 WTI crude oil recently reversed down from the resistance zone lying between the key resistance level 108.80 (top of the previous impulse wave 1) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier […]
• NZDUSD broke key support level 0.6410• Likely to fall to support level 0.6300 NZDUSD currency pair under the bearish pressure after the price broke the key support level 0.6410 (which reversed the price sharply at the start of this month). The breakout of the support level 0.6410 accelerated the active impulse waves 3 and […]
Global oil prices fell on Monday, May 9, along with stock markets in Asia, weighed by weak Chinese data and fears of a global recession that could double oil demand. Oil prices fell as investors looked ahead to European Union talks on a Russian oil embargo, which could result in an agreement that could put […]
AUDUSD Big Level on WatchHeavy risk aversion as we kick off the new week has seen commodity-linked currencies getting hit hard. Chief among them is the Aussie which has broken down through last week’s lows and is now once again testing 2022 lows around the .6989 level. This is a major support level for the […]
Type: Bullish RiseKey Levels:Resistance: 1143’0Pivot: 1123’0Support: 1105’2Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the 161.8% Fibonacci extension from our pivot in line with the horizontal pullback support and 23.6% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and […]
GBPUSD CollapsesIt’s been another exciting week in financial markets. Several key moves have kept traders on their toes this week and as we draw to a finish the main attraction appears to be the sell-off in GBP. We’ve had plenty of record action recently, such as the massive decline in JPY, and this week was […]
CIBCFX FlowsTokyo saw its inflation accelerated to highest in near 30 years in April, Bloomberg said this was largely dur to soaring energy prices. One reporter noted that strong connection in Tokyo CPI to the national CPI which will be published on May 20. A similar boost will complicate BoJ message on inflation. Japan reopened […]
Mortgage lending growth in China is slowing amid ongoing downturn in real estate market, caused by defaults among developers, lockdowns and worsening consumer sentiment.The total volume of outstanding mortgage loans in China at the end of March was 53.2 trillion yuan ($8 trillion), rising by 6% compared to the same month of 2021 – the […]