Category: Technial Analysis
Brent As we can see in the H4 chart, the situation has significantly changed over the last week. At the moment, Brent is steadily growing towards the high at 86.63. However, the asset may yet slightly correct before attacking this level. After breaking the high, the price may continue trading upwards to reach the post-correctional […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1440; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1395 and then resume moving upwards to reach 1.1525. Another signal in favour of a further uptrend will be a […]
Type: Bullish BounceKey Levels:Resistance: 0.9301Pivot: 0.92306Support: 0.92054Preferred Case:Price broke out of the descending trendline resistance, signifying an overall bullish momentum. We can expect price to bounce from pivot level in line with 100% Fibonacci projection and 50% Fibonacci retracement towards 1st Resistance in line with 127.2% Fibonacci projection. Our bullish bias is further supported by […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3639; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3605 and then resume moving upwards to reach 1.3730. Another signal in favour of a further uptrend will […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY has rebounded from the resistance at 8/8. In this case, the price is expected to break 7/8 and correct downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to […]
USD Still LifelessThe US Dollar remains largely subdued today despite a broadly hawkish set of comments from Fed chairman Powell yesterday. Powell was testifying at the senate confirmation hearing for his Fed chairman re-nomination yesterday and provided plenty of insight into the Fed’s outlook and policy plans for the year ahead. On the back of […]
Type: Bearish ReversalKey Levels:Resistance: 1.14633Pivot: 1.13852Support: 1.1233Preferred Case:On the H4, price is reacting below our pivot level at 1.13852 which is in line with horizontal swing high resistance, 50.0% Fibonacci retracement level. We are biased that price will potentially drop to 1st support at 1.1233, which is in line with horizontal swing low support. This […]
Powell’s speech disappointed proponents of the idea that the Fed is in a hurry to normalize policy with the pace priced in by market expectations, which were shaped after the release of the minutes of the December FOMC meeting. Despite assurances that the Fed will not allow high inflation to take root in consumers expectations, […]
US CPI In FocusThe main data focus today, and for the week as a whole, is the December US CPI reading. Given the high level of hawkish Fed expectations the market will be looking to today’s data to essentially confirm a March rate hike. While the December jobs number was weaker than expected, bulls are […]
GBPUSD, “Great Britain Pound vs US Dollar” As we can see in the H4 chart, GBPUSD has reached 61.8% fibo after convergence on MACD and may boost its growth towards 76.0% fibo at 1.3672. After that, the pair may start a new correction to the downside before attacking the high at 1.3824. The key support […]