Category: Technial Analysis
US October CPI report showed that inflation slowed faster than expected, a welcome development for the White House and the Fed, after months of limited policy impact on consumer price inflation. Although inflation in the US remains high, it has slowed significantly compared to the previous month. The broad consumer price index changed by 7.7% […]
Gold has approached the broken monthly downtrend. The asset is trying to draw a Doji candle thus signifying the potential reversal and drop. Currently, it would be wise to check the candlestick formations to predict the future moves of this asset. Brent oil has touched the psychological level of 100 and dropped. Oil might gain […]
EURUSD, “Euro vs US Dollar” The pair has corrected to 0.9999. Today we expect growth to 1.0113 and prospective growth to 1.0160. The goal is local. After this level is reached, a wave of decline to 0.9800 should begin. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair has completed a wave of decline […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the pair has formed an Inverted Hammer reversal pattern. Currently, the pair is going by the signal in an ascending wave. The goal of the growth will be 1.3635; later the price may break through the resistance level and extend the uptrend. Still, […]
On Thursday, the market major looks neutral. The current quote is 1.0030. Investors in global markets lost some of their optimism, and this inevitably impacted their attitude to risk, making them drop some of the corresponding assets. The EUR also lost some energy. The news is neutral on the verge of the key publication of […]
The British pound against the US dollar has recovered. The current quote is 1.1400. GBP rate remains quite volatile, while investors are engaged with the news. At the same time, it must be admitted that after Rishi Sunak was appointed Prime Minister, political disturbance subsided. However, there are questions to the economy and monetary policy. […]
• WTI reversed from resistance 92.25 • Likely to fall to support level 82.90 WTI crude oil recently reversed down from the pivotal resistance 92.25 (previous monthly high and top of wave A from October) – intersecting with the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from June. The […]
• AUDUSD reversed from resistance 0.6515 • Likely to fall to support level 0.6300 AUDUSD currency pair recently reversed down from the key resistance 0.6515 (which has been reversing the pair from the end of September) – standing near the upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from August. […]
It seems that Democrats are doing slightly better than expected in the midterm elections, and the head-to-head race points to the possibility they may be able to retain control of the upper house. The broad market shows a relatively tepid reaction to the incoming elections news: short-term FX and equity markets volatility remains relatively low, […]
Daily Market Outlook, November 9, 2022 “Asian markets are generally softer, failing to pick up the bullish baton set up by the positive tone from European and US markets. China has removed Covid restrictions in the critical Zhengzhou region which houses the major iPhone production plant, this news was accompanied by an extension of restrictions […]