Market Analysis
Detailed market analysis for the global markets provided by various regulated forex brokers technical analysis teams
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Type: Bullish BounceKey Levels:Resistance: 1.13889Pivot: 1.13Support: 1.12831Preferred Case:Prices are at a pivot and are abiding to our daily ascending trendline support. We see the potential for a bounce towards our 1st resistance at 1.13888 in line with 50% Fibonacci retracement and 161.8% Fibonacci Projection. RSI are at levels where bounces previously occurred.Alternative Scenario:Alternatively, prices may […]
Type: Bearish ReversalKey Levels:Resistance: 41443.73Pivot: 40593.22Support: 38960.24Preferred Case:Price is abiding to the descending channel, signifying an overall bearish momentum. We can expect price to retrace a little to the pivot level in line with 23.6% Fibonacci retracement towards 1st Support in line with 127.2% Fibonacci projection. Our bearish bias is further supported by the Ichimoku […]
The BoE will remain on its rate hiking path in February as inflation is well above its target and the economy-threatening impact of the omicron strain should be milder than previous variants of the coronavirus, a Reuters poll showed.The Bank of England was the first major central bank to hike interest rate in December – […]
Type: Bearish ReversalKey Levels:Resistance: 114.646Pivot: 114.646Support: 112.547Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 113.908 in line with 61.8% Fibonacci retracement towards our 1st support at 112.547 which is a graphical swing low and area of fibonacci confluences.Alternative Scenario:Alternatively, prices […]
CitiEuropean OpenAsian traders came to markets that were already jittery following an equity sell-off late in the NY session, causing risk off sentiment to permeate through the session. High beta currencies were down, led by AUD and NZD, while JPY and CHF fared better. USD was broadly flat. US Treasury yields were down as well […]
Type: Bullish BounceKey Levels:Resistance: 35367Pivot: 34622Support: 34010Preferred Case:With price at the support of a the stochastics indicator, we are biased that price will rise from pivot at 34622 in line with the 78.6% Fibonacci retracement and horizontal swing low support to 1st resistance at 35367 in line with the 50% Fibonacci retracement level and the […]
BRENT In the H4 chart, after breaking 8/8, Brent is no longer trading within the “overbought area”. In this case, the price is expected to continue correcting downwards to reach the support at 7/8. However, this scenario may no longer be valid if the asset breaks 8/8 to the upside. After that, the instrument may […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.1390. However, an alternative scenario implies that […]
NZDCAD Breakdown Looking GoodThe drop off in risk assets across the week has benefitted our NZDCAD sell idea very nicely. Price has now broken through the initial target at .8475 and is on course to test the .8351 termination point next week. While oil prices have been a little lower into the back end of […]
Equities UnderwaterIt’s been something of a blockbuster week in markets with plenty of big moves across the board. As usual then, this means that some traders will be congratulating themselves, some will be commiserating, and some will be cursing themselves for missing the train altogether. Now, while there have been moves aplenty this week, it […]
EURUSD, “Euro vs US Dollar” After completing the ascending impulse at 1.1334, EURUSD is expected to correct towards 1.1316, thus forming a new consolidation range between these two levels. Later, the market may break the range to the upside and form one more ascending structure towards 1.1360 or even reach the target at 1.1435. GBPUSD, […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3585; 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 1.3620 and then resume moving downwards to reach 1.3390. Another signal in favour of a further downtrend […]