Category: Technial Analysis
Daily Market Outlook, May 2, 2023 Most major money center’s have reopened after May day public holidays, Wall Street traded in a tight range given the lower overall volumes, Asian equity markets are mixed as investors are positioning for a slew of Central bank meetings for the week ahead. Overnight the Reserve Bank of Australia […]
Title USDJPY H4 | React off 1st resistance Type Bearish Reversal Preference: Price is nearing our pivot point at 137.756 which is swing high resistance that lines up with -61.8% Fibonacci expansion. A reverse from here, price could drop to 1st support at 136.793 which is a pullback support level. Alternative scenario: However, If price […]
The Japanese yen against the US dollar has dropped to its local lows. The current quote is 137.52. The decision of the Bank of Japan to stick to its soft credit and monetary policy logically played against the yen. At the last BoJ meeting, the interest rate remained at -0.10% per annum. The yield curve […]
EURUSD, “Euro vs US Dollar” On H4, near the support level the pair has formed a Harami reversal pattern. The instrument could now go by the reversal signal in an ascending wave. The target for the growth will be 1.1060. However, the price may correct to 1.0950 and continue the uptrend after testing the support. […]
Last Friday oil bulls took the lead, boosting the oil prices above the level of 80. Oil is likely to rise even more and face resistance at the level of 87 soon. So, let’s observe what will happen. Gold remains at the psychological level of 20000, testing it from different directions. Should gold rebound from […]
Retail Heavily Short AUDCHF AUDCHF is a strong candidate for long opportunities. The pair has rallied firmly off the recent lows, breaking out above key resistance levels. Meanwhile, the retail market has been heavily selling into the move, suggesting there is room for a continuation higher near-term. RBA Hikes Rates AUD has been […]
EURUSD, “Euro vs US Dollar” The currency pair continues to develop a consolidation range around the 1.0880 level. At the moment, the market has extended it upwards to 1.1090. A downward pattern is expected to develop towards 1.0880 (test from above). An upside exit from this range could open up the potential for growth to […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud which reveals the prevalence of an uptrend. A test of the Kijun-Sen line at 1.2445 is expected, followed by growth to 1.2645. An additional signal confirming the growth will be […]
TitleBTCUSD H4 | Reversal from 78.6% Fibo TypeBearish Reversal Preference:Price is approaching our pivot point of 30217.04 and potentially reverse from here, we could see momentum carry price down to its 1st support of 28728.36. Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance of 31082.56. To discuss this trading […]
EURJPY Longs in Focus EURJPY is looking good for longs today with the retail market heavily short against the current breakout. The rally in risk assets over the last 24 hours has fuelled a sharp weakening of JPY. With safe haven flows reduced, the Yen has been falling while higher stock prices have helped lift […]