Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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USDJPY has been rising for the third consecutive trading session; investors don’t need “safe haven” assets. The Japanese Yen continues falling against the USD. The current quote for the instrument is 115.77. Today’s statistics showed that the PPI in Japan was 8.6% y/y in January, a bit worse than in December, but better than the […]
EURUSD continues consolidating in anticipation of the US inflation data. The major currency pair is consolidating on Thursday. The current quote for the instrument is 1.1443. As a matter of fact, there is nothing going on right now around EURUSD. Investors are focused on the US inflation report for January to be published in the […]
Type: Bullish ContinuationKey Levels:Resistance: 154″17Pivot: 153″10Support: 152″18Preferred Case:Price is trading in a descending channel and near pivot level of 153″10 in line with 23.6% Fibonacci retracement. Price can potentially go to the resistance level of 154″17 which is in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the […]
Daily Market Outlook, February 9, 2022 Overnight Headlines Biden Is Set To Meet With Utilities In New Push For Climate Spending House Passes Short-Term Government Funding Bill, Sends To Senate US Lawmakers Move Closer To Agreement On Russia Sanctions Bill Fed’s Daly Warns US Inflation Could Get Worse Before It Gets Better Fauci Declares Full […]
CIBCFX FLOWSFixing demand for $YEN but was subsequently sold by Japanese, believed to be the usual exporters. I also learned that the retail sector was also selling, adding to short USD positions. Japanese names also sold EUR¥ which has gotten several specs bullish. $YEN stayed under pressure, 10-year UST yields closed 1.96% over in North […]
Type: Bullish ContinuationKey Levels:Resistance: 15621.25Pivot: 14826.75 Support: 14510.25Preferred Case:Price is near pivot level of 14826.75 in line with 50% Fibonacci retracement. Price can potentially go top the resistance level of 15261.25 which is also 50% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator.Alternative Scenario:Price can potentially dip […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency; right now, the asset is rebounding from the resistance at 8/8. In this case, the price is expected to correct down to the support at 6/8. However, […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Stick Sandwich reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target remains the resistance area at 1840.00. At the same time, an opposite scenario […]
On Wednesday, Romania’s central bank raised its key interest rate by more than expected, predicting that inflation will hit double digits in the second quarter, fueled by rising energy prices, and will remain above goal for longer. The bank increased its key rate by 50 basis points to 2.50 % , keeping it at the […]
Uber Up NextAs US earnings season rolls on, Uber is up next to report today. The company has seen its share prices trending steadily lower since the highs printed early last year. The group saw strong performance over the peak of the pandemic with a record surge in food deliveries offsetting the drop in transport. […]
Cryptos On The ReboundFollowing months of heavy losses, cryptocurrencies are finally starting to rebound in February. BTC has now recovered almost 40% off the lows printed in January while ETH has climbed by almost 50%. Much has been made of the cascade we’ve seen since the all-time highs printed last year with many calling for […]
• Costco broke resistance level 526.40 • Likely to rise to resistance level 560.00 Costco continues to rise after the earlier breakout of the resistance level 526.40 (top of the previous waves (B) and (1)). The breakout of the resistance level 526.40 accelerated the active medium-term impulse wave (3). Given the clear daily uptrend – […]