Category: Technial Analysis
Brent Brent crude oil quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI have broken the support line. In this situation, a test of 4/8 (87.50) is expected, followed by a rebound from this level and a rise to the resistance at 6/8 (90.62). The scenario can […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be 1.3620. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3700 without […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the lower boundary of the Cloud at 1.2515 is expected, followed by a drop to 1.2375. An additional signal confirming the decline could […]
TitleEURJPY H4 | Bearish reaction off 61.8% fibo? TypeBearish Reversal Preference: Price is rising towards the pivot point at 157.9, which is a pullback resistance level, aligning with the 61.8% fibo retracement. If price closes below our pivot point, then we can expect price to fall to the 1st support at 157.23, which is a […]
Daily Market Outlook, September 8, 2023 Munnelly’s Market Commentary… Asian equity markets faced downward pressure in response to declines in the technology sector on Wall Street, driven by concerns about Apple’s performance in China. Additionally, markets were digesting disappointing downward revisions to Japanese GDP data for the second quarter. The Nikkei 225 index retreated, slipping […]
Dollar Index Holds Firm Around 105 Points The dollar index continues to consolidate around 105 points, reaching levels not seen since mid-March of this year. Meanwhile, EURUSD briefly dipped below the 1.07 level, but the lack of significant news failed to capture buyers’ interest. GBPUSD, on the other hand, remains range-bound between 1.2450 and 1.25 […]
TitleGBPUSD H4 I Potential Bearish Reversal? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.25276, which serves as a pullback resistance level that aligns with the 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1.24478, a swing-low support level.. Alternative scenario:However, […]
TitleUSDJPY H4 I Falling to overlap support? TypeBearish Reversal Preference:Price is rising toward our pivot point of 147.361, which serves as an overlap resistance level that aligns with 61.8% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 146.56, an overlap support level. Alternative scenario:However, if […]
TitleSPX500USD H4 | Bearish reaction off 38.2% fibo? TypeBearish Reversal Preference:Price has previously bounced off a pullback support and is rising towards the pivot point at 4475.9, which is a pullback resistance level and at the 38.2% fibo retracement. If price closes below the pivot point, then price could fall to the 1st support at […]
TitleUSDJPY H4 | Reacting off the resistance level? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 147.734, which serves as a multi-swing high resistance level. A reversal from this point could lead the price to drop to the 1st support at 146.478, a pullback support level. Alternative scenario:However, if the price breaks […]