Category: Technial Analysis
China CPI Drops Again Fears over the health of the Chinese economy have moved back into the spotlight this week. On the back of data yesterday showing that Chinese exports contracted for the third consecutive month, inflation data overnight was equally disappointing. Annualised CPI came in at -0.3% last month, down from 0% prior while […]
Rising USD Stalls Crude Crude prices are reversing this week following a solid rally over July that saw crude futures gaining almost 20% off the lows. Price made it as high as a test of the 82.59 level where the market is stalled for now. A stronger US Dollar is creating a roadblock to higher […]
TitleUSDJPY H4 | Bearish reversal off pivot? TypeBearish Reversal Preference: Price is heading towards our pivot point at 143.93, which is an overlap resistance level. If price manages to create a double top, we can expect price to fall to our 1st support at 142.22, which is an overlap support level. Alternative scenario: If price […]
Hawkish Fed Risks Remain Gold prices are looking a little softer through the European morning on Tuesday as USD regains some ground. While Friday’s data saw the NFP undershooting forecasts, a move lower in the unemployment rate along with an uptick in wages means that the September meeting is still very much a ‘live’ meeting, […]
Global stock indices declined, US stock futures shifted to a defensive stance for the first time in a while, and demand in the fixed income market increased following a series of reports indicating a reduction in Chinese trade (which consequently reflects a weakening foreign demand for Chinese goods and services), deteriorating profit prospects in Italy’s […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has rebounded from the resistance line. In these circumstances, the price is expected to break the 3/8 (0.66530) level down and drop to the support at 2/8 (0.6469). The scenario can be cancelled […]
The market outlook for the approaching week encompasses several key events, including notable speeches, economic data releases, and the ongoing trajectory of Brent oil prices. Here’s a breakdown of what to expect: US Federal Reserve Updates The week kicks off with an insightful speech by Michelle Bowman, the esteemed governor of the US Federal Reserve, […]
TitleDE30EUR H4 | Bullish reversal off pivot? TypeBullish Bounce Preference:Price is approaching our pivot point at 15786.68, which is at the multi-swing low support. If price rejects this area, price could potentially head towards the 1st resistance at 15996.01, which is slightly above the 23.6% fibo retracement. Alternative scenario:If price breaks below the pivot, then […]
TitleAUDUSD H4 | Bullish reversal off pivot? TypeBullish Bounce Preference: Price is approaching our pivot point at 0.6515, which is at a swing low support level. If price rejects this swing low support, we could expect price to rise to the 1st resistance, at 0.6599, which is an overlap resistance and at the 38.2% fibo […]
EURUSD, “Euro vs US Dollar” EURUSD has formed an Inverted Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance level at 1.1070. However, the price could correct to 1.0940 and continue its upward movement after […]