Category: Technial Analysis
Apple Holding on At Support Shares in Apple are trading a little higher ahead of the open today, offering bulls some hope that the correction from YTD highs might be coming to an end. The stock has fallen more than 10% from the July highs as a pull back in risk appetite and a fresh […]
The Australian dollar, paired with the US dollar, is plunging rapidly. The current AUDUSD exchange rate stands at 0.6393. Pressure on the AUD stems from multiple factors. Firstly, the strength of the US dollar is driving other currencies to decline. Secondly, internal indicators have raised concern among investors. Australia’s unemployment rate surged to a three-month […]
BRENT Crude oil price has left the boundaries of a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 84.75 is expected, followed by a decline to 79.40. An additional signal confirming the decline will be a rebound from the upper boundary of […]
TitleUSDCAD H4 | Approaching pullback support? TypeBullish Bounce Preference: Price is falling towards the pivot point of 1.35011 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35866 which is a pullback […]
TitleBCOUSD H4 | Potential bearish reversal TypeBearish Reversal Preference: Price is rising towards the pivot point of 84.671 which is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 81.711 which is a pullback […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, the RSI is in the overbought area, which could be a sign of a probable correction. In this situation, a downward breakout of 5/8 (145.31) is expected, followed by a decline […]
USD Rally Weighs on Gold Gold prices have been drifting lower over recent weeks amidst the fresh uptick we’ve seen in USD. With traders now growing more uncertain over the projected US rate path in coming months, USD has made a comeback with pricing reflecting a higher likelihood of a further hike from the Fed. […]
Core CPI Holds Steady The latest set of UK CPI figures released today has seen GBP trading higher as traders move to price in a further BOE hike in September. The headline CPI reading was seen cooling to 6.8% from the prior month’s 7.9% reading, a little above the 6.7% the market was looking for, […]
The major currency pair maintains relative stability on Wednesday. The current EURUSD exchange rate stands at 1.0910. Retail sales volume in the US in July increased by 0.7% month-on-month. The data exceeded expectations: forecasts suggested a 0.4% increase contrasting with the 0.2% upturn seen the previous month. On an annual basis, the index rose by […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0965. However, the price might drop to 1.0860 and continue the downtrend without any pullback. USDJPY, […]