Category: Technial Analysis
GBP On the Up GBP has been well bid across the Asian session and early European session today in response to news of UK PM Sunak’s Brexit breakthrough. The PM and EC president Ursula von der Leyen yesterday agreed to a new set of trade terms for Northern Ireland which, both sides hope, will finally […]
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes are nearing the overbought area. The RSI is returning to the resistance line. As a result, a test of 8/8 (137.50) should be expected, followed by a bounce off it and falling to the support level of 6/8 (134.37). The scenario can be cancelled by […]
EURUSD, “Euro vs US Dollar” On H4, at the support level the pair has formed a Hammer reversal pattern. The instrument is now going by the signal in an ascending wave. The goal of the growth might be 1.0650. However, the price may drop to 1.0530 and continue the downtrend without pulling back to the […]
Financial markets face a difficult choice between two narratives: a soft landing in key economies after a period of high inflation (thanks to the restart of China’s economy) and signs of a stubborn inflation that call into question the dovish policy outlook of central banks this year. The search for equilibrium is likely to keep […]
Inflation Drops Back in Feb The RBA will no doubt be welcoming the latest Australian inflation data received overnight. Yearly CPI was seen falling back to 7.4% in February, down from the 8.4% peak marked in January and below the 8.1% reading the market was looking for. The spike in January inflation threw a major […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of correction to 1.0644. Today a structure of decline is forming to 1.0475. The goal is local. After this level is reached, a new correction to 1.0705 might develop, followed by a decline to 1.0380. GBPUSD, “Great Britain Pound vs US Dollar” The […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3595 is expected, followed by growth to 1.3825. An additional signal confirming the decline will be a rebound from the lower border of the […]
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts. TitleNZDUSD Potential for bearish drop towards overlap support TypeBearish Reversal PreferenceLooking at the H4 chart, my overall bias for NZDUSD is bearish with the current price being below the Ichimoku Cloud. To […]
Daily Market Outlook, February 28, 2023 Mixed Market Performance Into Month End Asian equities unable to muster any meaningful upside momentum, as month end flows failed ignite risk sentiment, the handover from Wall Street was marginally positive, after recovering the majority of Friday’s losses investors pared risk exposure into the close leaving the benchmark indices […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a correctional structure of decline to 1.0700. At the moment, the market has formed a consolidation range around this level, and with an escape downwards, the correctional wave might continue to 1.0355. After the correction is over, a new structure of growth to 1.0700 should […]