Latest Market News
• USDCHF reversed up from support level 0.9380 • Likely to rise to resistance level 0.9485 USDCHF recently reversed up from the support level 0.9380 (former multi-month low from the start of August) standing below the lower daily Bollinger Band. The upward reversal from the support level 0.9380 stopped the earlier short-term impulse wave (iii) […]
• Moderna broke resistance level 180.00 • Likely to rise to resistance level 197.15 Moderna recently broke the resistance level 180.00 (top of the previous minor correction 2 from the middle of August). The breakout of the resistance level 180.00 accelerated the active short-term impulse wave C of the ABC correction (2) from the end […]
Citing significant economic uncertainty in the coming months, OPEC has lowered its oil consumption growth forecast for the 5th consecutive time since April. The adjustment was -100K b/d for 2022 and 2023. The last time OPEC revised its forecast at the last meeting, it was decided to increase production by 2 million barrels per day. […]
Type: Bearish Momentum Key Levels:Resistance:1484.50Pivot:1409.75Support:1431.50 Preferred Case:On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the support line at 1431.50 where the 50% Fibonacci line is located before […]
EURUSD, “Euro vs US Dollar” The pair has completed a wave of decline to 1.0270 and a link of growth to 1.0357. At the moment, the market is forming a consolidation range under this level. With an escape upwards, the range may extend to 1.0410. With an escape downwards, a pathway to 1.0175 will open. […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the pair has formed a Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth will be 1.3880; later the price may bounce off the resistance level and extend the downtrend. However, the […]