Category: Technial Analysis
BRENT On H4, the quotes have broken through the 200-day Moving Average and are now above it, revealing possible development of an uptrend. The RSI is testing the support level. As a result, we are to expect an upward breakaway of 6/8 (84.38), followed by growth to the resistance level of 8/8 (87.50). The scenario […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The target of the correction might be 1.3535; later the price might push off it and continue growing. However, the price may rise to 1.3655 without […]
Bitcoin has approached the uptrend. Now, the asset is trying to form an engulfing. Bitcoin is likely to face resistance at the level of 25500, break this level, and jump. It would be interesting to observe the price movements below this level to understand what is about to happen next. Silver has approached a very […]
Title DXY, H4 | Potential reversal from key resistance Type Bearish Reversal Preference: Price is testing our pivot at 104.22 which is an overlap resistance. Reversing from here could see it drop to our 1st support at 103.45 which lines up with our 38.2% Fibonacci retracement. It’s worth noting that price has recently broken our […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0576. The target is local. Today a correction to 1.0620 might form. After it is over, a decline to 1.0563 should follow. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair has completed a structure of decline to 1.1924. […]
EURGBP, “Euro vs Great Britain Pound” EURGBP has pushed off the upper border of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 0.8840 is expected, followed by growth to 0.8955. An additional signal confirming the decline will be […]
Daily Market Outlook, March 3, 2023 Markets look To Close Out The Week On A Firmer Footing Driven By Fed ‘Pause’ Hope Asian equities followed Wall Street’s positive lead and were mostly higher following on from the positive close stateside, driven by yet another round of optimism regarding the potential for a Fed pause, this […]
There have been plenty of key developments across the markets this week with plenty of moves to focus on as we begin the final month of Q1. Chatting with traders ahead of the weekend, it seems the move capturing the most attention is the almost 3% rally in the Nikkei which has broken out this […]
The BTC weakened quite a bit overnight. By Friday, the leading crypto has dropped to 22,401 USD. The crypto got given away by the inner market news. Most probably, it was the situation with the Silvergate bank, with which several crypto exchanges at once refused to work. Meanwhile, the US stock market remained stable or […]
EURUSD has stabilised after a series of amplitude fluctuations. The current quote is 1.0610. The EU failed to support the EUR by good news. The prelim CPI in February turned out at 8.5% y/y instead of declining to 8.3% y/y, while earlier it was 8.6%. Base inflation is estimated at 5.6% y/y — higher than […]