Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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USDJPY is slowly rising; demand for “safe haven” assets is rather low. The Japanese Yen is retreating against the USD again. The current quote for the instrument is 122.87. According to the statistics published today, Household Spending gained 1.1% y/y in February after adding 6.9% y/y in January. Early in the year, there was hope […]
AUDUSD updated its 10-month highs after the RBA meeting. The Australian Dollar improved pretty much against the USD. The current quote for the instrument is 0.7629. The Reserve Bank of Australia had another meeting in the morning and left the benchmark interest rate intact at 0.10%, just as expected. This time, the regulator’s comments were […]
South Korea has taken new measures to counter the inflation caused by high oil prices, by increasing the fuel tax cuts that began in November for a period of 6 months and intends to extend them for another 3 months. Korean Finance Minister Hong Nam-ki said today, Tuesday, that his country will expand tax cuts […]
RBA Looking to Hike Sooner Than ExpectedThe Aussie Dollar has been the strongest performer of the day following a hawkish surprise at the RBA rates meeting overnight. While no change in monetary policy was announced, the tone of the meeting statement struck a much more hawkish note with the RBA removing the word “patient” from […]
ETH Breaks OutThe resolution from the recent triangle formation highlighted in ETH has seen price triggering the breakout play through 3310.5. The continued recovery in risk appetite, particularly in tech stocks, has helped crypto assets perform much better over recent weeks. With both MACD and RSI bullish here, the market looks primed for further upside […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the rising channel’s downside border at 1.0971; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1055 and then resume moving downwards to reach 1.0780. Another signal in favour […]
EURUSD, “Euro vs US Dollar” EURUSD has finished the descending wave at 1.0960. Today, the pair may start another growth with the first target at 1.1040. GBPUSD, “Great Britain Pound vs US Dollar” After forming a new consolidation range around 1.3116, GBPUSD is moving upwards and may soon reach 1.3138. Later, the market may break […]
Type: Bullish RiseKey Levels:Resistance: 14707Pivot: 14355Support: 14202Preferred Case:With price expected to bounce off the RSI support, we have a bullish bias that price will rise to our resistance at 14707 in line with the 61.8% Fibonacci retracement and swing high resistance from our pivot at 14355 in line with the 78.6% Fibonacci retracement and swing […]
Type: Bearish DipKey Levels:Resistance: 754’6Pivot: 747’0Support: 733’0Preferred Case:We see the potential bearish dip from our Pivot at 747’0 in line 38.2% Fibonacci retracement towards our 1st support at 733’0 in line with the horizontal swing low support. Our bearish bias is further supported by how price is expected to reverse off the Ichimoku cloud resistance.Alternative […]
EURUSD, “Euro vs US Dollar” In the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. Still, this scenario may no longer be valid if the […]
Type: Bearish DipKey Levels:Resistance: 14950Pivot: 14870Support: 14727Preferred Case:We see the potential bearish dip from our Pivot at 14870 in line 23.6% and 61.8% Fibonacci retracement towards our 1st support at 14727 in line with the horizontal swing low support and 61.8% Fibonacci projection. Our bearish bias is further supported by how price is moving below […]
Type: Bullish RiseKey Levels:Resistance: 1623’2Pivot: 1580’0Support: 1546’4Preferred Case:With price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1623’2 in line with the 38.2% Fibonacci retracement and pullback resistance from our pivot of 1580’0 in line with the 161.8% Fibonacci extension and swing […]