Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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• S&P 500 reversed from support level 4140.00• Likely to rise to resistance level 4300.00 S&P 500 index recently reversed up from the key support level 4140.00 (which has been reversing the index from the middle of last year). The support zone near the support level 4140.00 was strengthened by the lower daily Bollinger Band. […]
AUDUSD is reaching stability after plunging earlier this week. The Australian Dollar is consolidating against the USD after plunging earlier. The current quote for the instrument is 0.7192. The commodity market is shaking, pulling the floor out from under the Aussie. Moreover, the coronavirus-related news from China is offering little room for optimism. Taken together, […]
GBPUSD updated its local “bottom”; the labour market statistics managed to smooth “negative vibes”. The British Pound is looking weak against the USD on Tuesday. The current quote for the instrument is 1.3046. Earlier this morning, the pair updated its local lows at 1.2997. It happened before the UK reported on the labour market – […]
Type: Bearish DropKey Levels:Resistance: 14644Pivot: 14099Support: 12558Preferred Case:We see the potential for a further bearish drop from our Pivot at 14099 in line swing high resistance and 78.6% Fibonacci retracement towards our 1st support at 12558 in line with the swing low support. Our bearish bias is further supported prices trading below our Ichimoku clouds […]
EURCAD Channel BreakEURCAD price action is worth monitoring here. The pair has been trading lower within a broad bearish channel over since Q3 last year. However, the recent test of the 1.3876 level support has seen price finding firm demand. With the pair potentially carving out a double bottom here, and both MACD and RSI […]
Price action in CADJPY is looking interesting here. Following the heavy sideways action we’ve seen over the year so fa, price now looks to be breaking higher. We’ve seen price breaking out above the contracting triangle which has framed price action over the last six months. Price remains within a larger rising wedge formation and, […]
Type: Bearish DropKey Levels:Resistance: 152’02 Pivot: 154’22Support: 155’27Preferred Case:With price moving below the Ichimoku cloud, we have bearish bias that price will drop from our pivot of 154’22 in line with the horizontal pullback resistance to our 1st resistance of 152’02 in line with the horizontal swing low support and 161.8% Fibonacci extension. Alternative Scenario:Alternatively, […]
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 1/8, break it, and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.2855. However, an alternative scenario implies that the asset may correct […]
The dollar has got another growth driver. The PBOC unexpectedly lowered reference rate of CNY/USD which, may indicate its willingness to weaken the yuan against US currency. This is usually seen as downside factor for Asian currencies which ultimately may also support USD demand.Markets’ risk-on/risk-off swings continue to depend on the progress of peace talks […]
Netflix Sitting on Big SupportShares in streaming giant Netflix are threatening to break lower still this week. Following the recent rebound which saw price trading back up to near the 475.17 level, price has since reversed lower again and is now testing below the long term rising trend line and 352.91 level support.Netflix has seen […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF is trading at 0.9352; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9310 and then resume moving upwards to reach 0.9425. Another signal in favour of a further uptrend will be […]