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USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the pair has formed an Inverted Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth may be 1.3445; later the price may break through the resistance level and extend the correction. However, […]
EURUSD, “Euro vs US Dollar” The currency pair completed a wave of growth to 1.0759. Today the market is correcting this wave to 1.0710. After the correction is over, the pair may grow to 1.0767. Then it may correct to 1.0625 (a test from above) and grow to 1.0787. GBPUSD, “Great Britain Pound vs US […]
GBPUSD, “Great Britain Pound vs US Dollar” The currency pair has left the borders of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2010 is expected, followed by growth to 1.2425. An additional signal confirming the growth will […]
Copper Breaks Highs With (Dr) Copper often seen as a barometer for global economic health (or at least projected global economic health), the rally in copper futures is certainly an encouraging start to the New Year. A combination of a weaker US Dollar and budding optimism around China reopening its borders is helping lift sentiment […]
Type: Bullish Continuation Key Levels:Resistance: 24.775Pivot: 706.50Support: 23.140 Preferred Case:Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high […]
Technical Analysis in Forex Trading Technical analysis is a set of methods applied to predict future changes in the prices of financial assets, through analyzing their historical price movements and patterns. The foreign exchange market is particularly favorable for using technical analysis as its high liquidity in trading volumes and participants, and vulnerability to large […]