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Type: Bullish Continuation Key Levels:Resistance:4173.25Pivot:3913.25Support:3751.75 Preferred Case:On the H4 chart, we have a bullish bias. Furthermore, the price is above the Ichimoku cloud , indicating a bullish market. If the bullish trend continues, price may move towards the 4173.25 resistance level , which contains the 78.6% Fibonacci Fibonacci line. Alternative Scenario:Price could retest the pivot […]
Daily Market Outlook, November 29, 2022 ‘Bullard Breakdown Reverses On Improved China Sentiment…’ Global equity markets were once again rocked by Fed official comments that underpinned a hawkish view, with members supporting the higher for longer rate path, however, markets have stabilised overnight with the majority of Asian equity markets trading higher this morning, the […]
Type: Bearish Momentum Key Levels:Resistance:745.500Pivot:613.250Support:665.000 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to head back down the the support level at 665.000, where the 78.6% Fibonacci line is. Alternative […]
AUDUSD, “Australian Dollar vs US Dollar” On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support line. The quotes are expected to rise above 7/8 (0.6713) and then reach the resistance level of 8/8 (0.6835). The scenario can be cancelled by […]
EURUSD, “Euro vs US Dollar” On H4, at the support level, the pair has formed a Harami reversal pattern. Currently, the pair may go by the signal in an ascending wave. The goal of the growth may be 1.0540. However, the price may pull back to 1.0320, bounce off it, and continue the uptrend after […]
The intensifying yield curve inversion in the US (when short-dated bonds are cheaper than long-dated ones) and WTI price below critical $80 support level tell us that markets are becoming more worried about global demand prospects. The risks of an economic downturn in China due to restrictive Covid measures also affect investor sentiment, adding pressure […]