Category: Technial Analysis
Daily Market Outlook, April 03, 2023 Opec+ Oil Shock As The Cartel Cuts 1.6Mln Barrels Of Supply, Oil Surges 8% Asia equity markets start the holiday shortened trading week with modest gains as investors digest a surprise move by Opec+, with the announcement of a supply cut issued Sunday afternoon, the cartel have committed to […]
XAUUSD, “Gold vs US Dollar” Near the resistance, gold has formed a Shooting Star reversal pattern. The instrument is now going by the reversal signal in a descending wave. The target for the correction might be 1920.00. Upon testing the support, the price could rebound from it and continue the uptrend. However, the quotes may […]
EURUSD, “Euro vs US Dollar” EURUSD is correcting after a rebound from the resistance. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0675 is expected, followed by growth to 1.1045. An additional signal confirming the decline will be a rebound from […]
TitleWTI H4 | Potential bearish reversal TypeBearish Reversal Preference:The price is currently at our pivot point of 79.072 which is just slightly above a 50% Fibonacci retracement level. If there is a reversal from here, it could push the price down to 1st support level at 76.462 Alternative scenario:However, If price were to break above […]
TitleEURUSD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price could approach our pivot level of 1.09324 and potentially reverse from here, we could see momentum carry price down to its 1st support of 1.07483. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 1.10332. To discuss this trading idea, […]
Brent On H4, Brent quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. In this circumstances, we expect a downward breakout of 1/8 (78.12) and falling to the support at 0/8 (75.00). The scenario can be canceled by rising above 2/8 (81.25), which […]
Daily Market Outlook, March 31, 2023 Month & Quarter End Flows Retain A Bid Tone, Could PCE Data Be A Party Pooper? Asia equity markets were mostly trading in the green as investors marked up month and quarter end, following the positive flows from Wall Street, as tech once again lead the bullish charge, with […]
TitleETHUSD, H4 | Potential bearish reversal TypeBearish Reversal Preference:Price could approach our pivot level of 1859.06 and potentially reverse from here, we could see momentum carry price down to its 1st support of 1678.5. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 1991.41. To discuss this trading idea, […]
The British pound against the US dollar continues growing. The current quote is 1.2365. Apart from the weakness of the USD, the pound has a mighty domestic driver for growth. In particular, Britain has agreed to join a Trans-Pacific Partnership (CPTPP). London has already called it the biggest trade since Brexit. CPTPP has started working […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a link of growth to 1.0925. Today the market is forming a consolidation range under this level. If the price escapes the range downwards, we expect a wave of decline to 1.0870. And if this level also breaks downwards, a pathway for a structure to […]