Category: Technial Analysis
Microsoft Announces ‘Third Phase Investment In Open AI Shares in US tech giant Microsoft are trading around 1% higher ahead of the US open today. The move comes on the back of yesterday’s announcement that the company will strengthen its partnership with ChatGPT maker Open AI via a new multibillion dollar investment deal. While the […]
UK Service Sector in Trouble The latest set of PMI readings for the eurozone and the UK today highlighted some clear divergence with regards to economic performance between the two. In the eurozone, the services sector was seen moving back into positive territory last month, printing 50.7, up from 47.8 in November. This marked a […]
EURUSD, “Euro vs US Dollar” The currency pair has corrected to 1.0846. Today the market goes on developing a structure of growth to 1.0948. After this level is reached, the pair may correct to 1.0840. Then the quotes might grow to 1.0965 and extend the wave to 1.0980. GBPUSD, “Great Britain Pound vs US Dollar” […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF is correcting in a descending channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 0.9230 is expected, followed by falling to 0.9045. An additional signal confirming the decline will be a bounce off the […]
Daily Market Outlook, January 24, 2023 Tech Rally on Wall Street Sees Nikkei Back Above 27K The Nikkei (the only major Asian market open during the lunar holiday week) managed to shake off a third successive monthly decline in manufacturing data to reclaim the pivotal 27k level, as markets were buoyed by another impressive led […]
Equities Bulls Competing With Hawkish Central Bank Comments We’ve seen a mixed start to the week for global equities benchmarks. Against a backdrop of ongoing weakness in the Dollar, most indices were seen trading higher yesterday though gains have since been tempered across the European open on Tuesday. Indeed, the FTSE is seeing decent selling […]
The imbalance in the policy rhetoric of the Fed and the ECB continues to widen, only this time the ECB is more hawkish, which cannot but prop up EURUSD. After a week of doubts, the pair tried to renew the rally pushing through the 1.09 level. However, later during the London session, the dollar began […]
Bitcoin broke the level of 22500. Currently, it remains flat before the next jump. So far, this asset is likely to hit the level of 25000. Next, Bitcoin might pull back from this level and undergo a large-scale correction. The asset could potentially gain the required support at the level of 21000 and jump. The […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are in the overbought area. The RSI is also nearing the overbought area. As a result, a downward breakaway of +1/8 (1.0864) should be expected, from where the price might fall to the support level of 8/8 (1.0741). The scenario can be cancelled by rising over […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the currency pair has formed a Hammer reversal pattern. The pair is now going by the signal in a correctional wave. The goal of the pullback might be 1.3450; then the price may bounce off the resistance level and continue the decline. However, […]