Category: Technial Analysis
Bitcoin did not manage to enter the supporting zone. It jumped instead, trying to form a long white candle at the end of the trading day and shape the engulfing. It’s noteworthy that the asset’s price might potentially drop again. Should Bitcoin head North, it is likely to face resistance at the level of 29000 […]
TitleXAUUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price has is at our pivot zone between 1900-1905 which is a multi swing high resistance that aligns with 23.6% Fibo retracement. A reverse from here, price could fall to 1st support at 1891.379 which is an overlap support level Alternative scenario:However, if price breaks above the […]
EUR Under Pressure The Euro is coming under fresh selling pressure today on the back of the latest set of eurozone PMIs this morning. The manufacturing reading was seen remaining firmly in negative territory, printing 43.7. While slightly higher than the prior 42.7 reading and the 42.8 the market was looking for, the data makes […]
Crude Slumps on China Concerns Crude oil has taken a further turn lower this week. After a sustained rally over July which saw prices hitting fresh highs for the year earlier this month, crude futures have now shed around 7% from those YTD highs. Concerns over the economic outlook in China have been a major […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3515 is expected, followed by a rise to 1.3685. An additional signal confirming the rise will be […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Engulfing reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3505. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3610 without any […]
TitleEURUSD H4 | Falling from Fibo Confluence? TypeBearish Reversal Preference:Price is rising toward our pivot point of 1.08882 which has 61.8% Fibo retracement and 23.6% Fibo retracement, indicating Fibo confluence level. A reverse from here, price could fall to 1st support level at 1.08318 which is a swing low support level. Alternative scenario:However, if price […]
GBP Heavily Sold Similar to what we’ve seen with EUR today, GBP has come under heavy selling pressure on the back of a dismal set of flash UK PMI readings this morning. The UK services PMI was seen falling back into negative territory this month at 48.7 from 51.5 prior and below the 50.9 the […]
The BTC exchange rate looks weak on Wednesday, hovering around 26,015 USD. The cryptocurrency sector has suffered noticeably after the crash triggered by the Bitcoin Magazine publication. The BTC decline also pulled down key altcoins. Currently, the sector is still impacted by the bearish seasonal factor, and its transition to a bullish trend in early […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a wave of decline to 1.0833. Today the market is correcting this wave of decline. The correction target might be 1.0874 (with a test from below). After the correction will be over, a new wave of decline to 1.0816 could start. Next, a link of growth to […]