Category: Technial Analysis

Indices, Unemployment, and UK Interest Rate: this upcoming week is set to be eventful, with several key data releases impacting global markets. Here’s a breakdown of what to watch out for. USD: Anticipation for Index Data The US dollar quote will be heavily influenced by two critical data points – the Purchasing Managers’ Index (PMI) […]

TitleNZDUSD H4 | Bearish reversal TypeBearish Reversal Preference: Price has reversed from the pivot point of 0.62198 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level; we could see momentum carry price down to its 1st support at 0.61318 which is an overlap support that aligns with a confluence of Fibonacci […]

TitleUSDJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is nearing our pivot point of 142.956 that aligns with 78.6% Fibo retracement and supply zone. A reverse from here, price could fall to 1st support at 141.941 which is a pullback support level. Alternative scenario:However, if price break above the pivot, it could push to […]

TitleGBPUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is moving toward our pivot point of 1.2884 that aligns with 50% FIbo retracement. A reverse from here, price could fall to 1st support level at 1.2776 Alternative scenario:However, if price breaks above the pivot, it could push to 1st resistance at 1.2968  which is a […]

Factory Activity Drops Again The latest data out of China overnight has offered little reassurance over the health of the world’s second largest economy. The manufacturing PMI was seen staying in negative territory for a fourth straight month last month. While slightly above forecasts at 49.3 vs 48.9 expected, the data is further evidence of […]

RBA On Watch The RBA will meet overnight tonight for its August rate decision. Expectations have been heavily divided in the build up to this meeting though, as it stands, the market is currently forecasting a further .25% hike, which would take Aussie rates up to 4.35% from 4.1% currently. On the back of two […]

On Monday, the week kicked off with the report on China’s industrial sector activity. The PMI index surprised on the upside, rising to 49.3 and beating consensus estimate of 49.2 points. The slowdown in activity has been gradually easing for the second consecutive month, alleviating concerns about China’s economy and supporting the search for yield […]

EURUSD, “Euro vs US Dollar” EURUSD has formed a 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 might be the resistance at 1.1130. However, the quotes could correct to 1.0960 and continue the uptrend after the pullback. USDJPY, […]

EURUSD, “Euro vs US Dollar” EURUSD has completed the first corrective target at the 1.1046 level. Today a link of decline to the 1.0992 level might develop. After the price reaches this level, another structure of growth to 1.1035 could follow. An upward breakout of this level will open the potential for the structure development […]

Surprise Revenues Jump Shares in Exxon are trading higher ahead of the open today as the post-earnings rebound continues to play out. Shares tanked initially as the company reported a lower EPS than Wall Street was looking for. However, with revenues seen coming in above forecasts, sentiment swiftly changed and the stock was seen well […]