Category: Technial Analysis
• EURNZD reversed from resistance level 1.6795 • Likely to fall to support level 1.6600 EURNZD recently reversed down from the key resistance level 1.6795 (which has been reversing the price from the start of October), intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from August. The […]
• AUDCAD reversed from key support level 0.8970 • Likely to rise to resistance level 0.9100 AUDCAD recently reversed up from the key support level 0.8970 (previous monthly low from December), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 0.8970 created the daily Bullish Engulfing – which stopped the […]
GBPUSD has climbed into positive territory; investors believe it may continue rising. The British Pound is growing against the USD on Thursday. the current quote for the instrument is 1.3631. Inflation in the United Kingdom in December demonstrated phenomenal growth and reached 5.4% y/y after being 5.1% y/y the month before and against the […]
Brent As we can see in the H4 chart, Brent has broken its previous high at 86.63. Right now, the asset is trying to fix above it and continue trading upwards to reach the post-correctional extension area between 138.2% and 161.8% fibo at 94.56 and 99.43 respectively. The key support is the low at 65.89. […]
Type: Bearish ReversalKey Levels:Resistance: 115.197Pivot: 114.946Support: 114.293Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 114.946 in line with 50% Fibonacci retracement towards our 1st support at 114.293 in line with 50% Fibonacci retracement. Prices are trading below our Ichimoku clouds […]
Type: Bearish ReversalKey Levels:Resistance: 0.92008Pivot: 0.91795Support: 0.91316Preferred Case:With price moving below the ichimoku cloud, we have a bearish bias that price will drop from our pivot of 0.91795 in line with the 50% Fibonacci retracement level to 1st support at 0.91316 in line with the 50% Fibonacci retracement level.Alternative Scenario:Alternatively, price may break pivot structure […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming an Engulfing reversal pattern during the pullback not far from the support level, XAUUSD is reversing and may continue forming its ascending impulse. In this case, the upside target remains at the resistance area at 1845.00. At the same time, […]
Daily Market Outlook, January 19, 2022 Overnight Headlines WHO Warns Covid Pandemic Not Over Yet Amid Europe Case Records Democrats Set Voting Rights Showdown With No Clear Path To Victory US, UK To Announce Plans For Formal Talks On Metals Tariffs On Wed ECB’s Villeroy: ECB Can Adapt Policy Faster If High Inflation Persists Germany’s […]
Type: Bearish ReversalKey Levels:Resistance: 0.73014Pivot: 0.72805Support: 0.72192Preferred Case:Prices are at a Pivot. We see the potential for further bearish continuation from our Pivot at 0.72805 in line with 50% Fibonacci retracement towards our Take Profit at 0.72192 which is an area of Fibonacci confluences. RSI is showing bearish momentum.Alternative Scenario:Alternatively, prices may go to our […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue growing to reach the resistance at 7/8. However, this […]