Market Analysis

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. Still, this scenario may no […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Harami, close to the resistance level, USDCAD is reversing and may form a new descending impulse. In this case, the downside target may be the support area at 1.2670. However, an alternative scenario implies that […]

Alibaba Earnings In FocusChinese tech behemoth Alibaba is due to report earnings today for the 4th quarter and there is a great deal of focus on how the company’s share price will respond. Alibaba has been trading in a well defined bear channel since the 2020 highs recorded during the height of the pandemic. Since […]

EURAUD Breakout UnderwayThe recent breakout trade in EURAUD issued last week has now hit its target at 1.6163 following a sharp move higher across recent days. EUR has seen a stark shift in sentiment following a hawkish surprise at the February ECB meeting last week which saw ECB governor Lagarde altering her language around rate […]

• Chevron broke long-term resistance level 133.20 • Likely to rise to resistance level 140.00 Chevron continues to rise strongly after the earlier breakout of the long-term resistance level 133.20 (previous yearly high from the start of 2018). The breakout of the resistance level 133.20 coincided with the breakout of the resistance trendline of the […]

• EURCAD reversed from resistance level 1.4645 • Likely to fall to support level 1.4400 EURCAD currency pair recently reversed down strongly from the key resistance level 1.4645 (which has been reversing the price from May of 2021). The resistance zone near the resistance level 1.4645 was strengthened by the upper daily Bollinger Band. EURCAD […]

EURUSD, “Euro vs US Dollar” Having completed the descending wave along with the correction, EURUSD has formed a new consolidation range near the highs. Possibly, today the pair may break the range to the downside and correct towards 1.1366. Later, the market may resume trading upwards with the target at 1.1427. GBPUSD, “Great Britain Pound […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF is trading at 0.9252; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9230 and then resume moving upwards to reach 0.9410. Another signal in favour of a further uptrend will […]

Daily Market Outlook, February 7, 2022 Overnight Headlines Lawmakers Signal Stopgap Spending Bill Needed As Talks Continue House Passes Chips Bill As Republicans Air Soft-On-China Gripes US Restores Sanctions Waiver To Iran, Nuclear Talks In Final Phase White House Warns Russian Attack On Ukraine Possible ‘Any Day’ ECB’s Knot Sees First Interest Rate Hike In […]

Good day,The price of the USD/RUB broke the downtrend. However, the asset’s price might also pull back and target the 78 level soon.Should the currency pair manage to break the range and pull back to the broken downtrend, the asset might target the supporting level of 73.35.The price of gold is likely to target the […]

The major currency pair slowed down a little bit after skyrocketing earlier.  EURUSD reached stability after strengthening last week. The current quote for the instrument is 1.1421. Last Friday, the US reported on the labour market for January. The data was a little bit mixed but still showed that the sector was doing fine.  For […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, the asset is correcting upwards after plummeting before. Divergence on MACD, which made the pair form the first descending wave earlier, may force the second one. The closest downside target may be 61.8% fibo at 1730.00. However, an alternative scenario implies that […]