Category: Technial Analysis
• CADJPY reversed from support level 104.90 • Likely to rise to resistance level 107.25 CADJPY reversed up from the key support level 104.90 (which has been reversing the price from August), 50% Fibonacci correction of the upward impulse form May, standing near the lower daily Bollinger Band. The upward reversal from the support level […]
• CADCHF reversed from support level 0.7100 • Likely to rise to resistance level 0.7200 CADCHF recently reversed up from the key support level 0.7100 (which stopped the sharp downtrend in September), standing near the lower daily Bollinger Band. The upward reversal from the support level 0.7100 stopped the earlier short-term impulse wave 3. Given […]
Daily Market Outlook, November 14, 2022 “Markets open the week on a slightly more cautious footing, comments from Fed member Waller cooled risk appetite as the Fed policymaker suggested that equity markets had over reacted to the inflation print as interest rates still had further to go to combat inflationary pressures. The outlier in Asian […]
Metals Rally As USD Drops Last week was an important week for the metals market with both gold and silver seeing strong gains amidst the deepening USD correction we saw. Gold prices are now sitting around 10% off the year’s lows with silver prices up more than 20%. Last week, the big catalyst for the […]
The British pound against the US dollar is at the highs since the end of August. The current quote is 1.1789. The main trigger for the growth of the GBP is the weakness of the USD. This is the factor that has let the pound climb up so high. Fundamentally speaking, there are very few […]
EURUSD, “Euro vs US Dollar” The currency pair completed a wave of growth to 1.0360. At the moment, the market is forming a consolidation range under this level. Today we expect an escape downwards to 1.0145, followed by growth to 1.0260 and a decline to 1.0080, from where the wave may continue to 1.0000. GBPUSD, […]
Investors dumped dollar on Thursday after an unexpected dovish surprise in US inflation and against the backdrop of the easing of covid restrictions in China. Today, the greenback slide continued. Nevertheless, it is still not known how the Fed’s stance has changed after the release of the inflation report, because one month is not enough […]
Brent futures rose by more than 2.5% on Friday after China announced the easing of its COVID Zero strategy. Such a move by the world’s largest oil importer could lead to increased local and international travel and could lift demand for commodities in the country. According to the National Health Commission, China has reduced the […]
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BRENT On H4, Brent quotes have broken through the 200-day Moving Average and are now below it, which signifies possible development of a downtrend. The RSI is testing the resistance line. In such circumstances, we should expect a downward breakaway of 6/8 (93.75) and subsequent falling to the support level of 5/8 (90.62). The scenario […]