Category: Technial Analysis

TitleEURJPY H4 | Potential bearish breakout TypeBearish Breakout Preference:EURJPY could reverse and break out of pivot at 158.468, the swing-low support. From there it might drop further to the 1st support at 157.254, the swing-low support that aligns with the 38.2% Fibonacci retracement. Alternative scenario:The price could rise and break out of the 1st resistance […]

EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a correction wave to the 1.0745 level. By now, a consolidation range has formed around this level. Today the market has escaped this range upwards, suggesting a further correction to 1.0770. Once it is over, the decline wave could extend to 1.0700, from where the […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 7/8 (148.43), subsequently reaching the resistance level at 8/8 (150.00). The scenario could be cancelled […]

BTC Remains in Range Bitcoin remains firmly range-bound as we cross through the middle of the week. Following a rebound off the post-SEC lows, the leading crypto asset has failed to gain further bullish momentum and now sits in a congested block mid-way between 40345 – 45520. The price action reflects a market which is […]

TitlePotential Resistance at 61.8% Fibonacci Retracement TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.65586 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64671 which is a pullback support level. Alternative […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1.3555. Next, the price might have a chance for a breakout of the level and further development of the uptrend. However, the […]

EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Kijun-Sen line at 1.0795 is expected, followed by a decline to 1.0615. An additional signal confirming the decline could […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2045.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2015.50 before rising. […]

The primary currency pair halted its decline on Tuesday but appears weak. The current EURUSD exchange rate stands at 1.0744. The euro is currently at its lowest point since 8 December of the previous year. The market is still absorbing information received earlier from the US Federal Reserve. This pertains to the comments made by […]

FTSE Stuck in Range The FTSE remains within a tight block of consolidation this week as the recent range persists for now. The index attempted a breakout higher earlier today but met selling resistance into last week’s highs. Dovish comments from BOE chief economist Pill yesterday are certainly seen as favourable for the index though […]