Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed a Shooting Start reversal pattern. Currently, the instrument could go by the reversal signal in a descending wave. The target for the decline will be 1.3470. Next, the shares will have a chance to break the level and continue the downtrend. However, the price […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting in a forming Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2460 is expected, followed by growth to 1.2675. An additional signal confirming the growth will be a rebound […]
TitleGBPUSD H4 | Bounce from support TypeBullish Bounce Preference: Price is approaching our pivot point of 1.23963 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.25468. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.23374. To discuss this trading […]
ECB Hawks Out In Force The Euro is seeing a renewed wave of buying this week in response to further hawkish ECB comments made yesterday. Several members of the ECB were seen commenting in support of continued tightening in order to bring inflation back down to target. ECB’s Schnabel said that it was too early […]
TitleUSDJPY H1 | Falling to 1st support TypeBullish Bounce Preference: Price is falling to our pivot at 133.6375 which is swing low support level that lines up with 50% Fibonacci retracement. A bounce off from here price could rally to 1st resistance at 134.469 which is swing high resistance level that lines up with 61.8% […]
TitleXAUUSD H1 | Potential bounce off TypeBullish Bounce Preference:The price is approaching our pivot point at 1969.863, which is a multi-swing low support level that aligns with the 78.6% Fibonacci retracement. If there is a bounce off the pivot, it could rally to 1st resistance level at 1997.487, which is a swing high resistance level […]
TitleUSDCAD H4 | Potential bounce from support TypeBullish Bounce Preference:Price is approaching our pivot point of 1.35166 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.36455. . Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.34205. To discuss this […]
Metals Under Pressure on Monday The metals market is kicking off the new week in much the same vein as it finished on Friday. Both gold and silver are under pressure across early European trading on Monday as focus remains on fresh Fed tightening expectations ahead of the upcoming May FOMC. The return of hawkish […]
Brent On H4, EURUSD quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price could break 2/8 (1.0986) and grow to the resistance at 3/8 (1.1108). The scenario can be canceled by a downward breakout of 1/8 (1.0864), which […]
EURUSD, “Euro vs US Dollar” The stock index has completed yet another correction to 1.0995. Today the market is forming a link of yet another declining wave to 1.0940. If this level breaks, a pathway down to 1.0903 could open, from where the wave has c chance to extend to 1.0888. After it reaches the […]