Category: Technial Analysis
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 […]
EURUSD, “Euro vs US Dollar” On H4, at the resistance level, the pair has formed a Harami reversal pattern. Currently, the pair may go by the reversal signal in the form of a correctional wave. The goal of the decline will be 1.0170. However, the price may grow to 1.0310, break through this level, and […]
• USDCHF broke support level 0.9735 • Likely to fall to support level 0.9475 USDCHF recently broke the key support level 0.9735 (low of the earlier short-term wave (iv) from the end of September) intersecting with the support trendline of the daily up channel from August. The breakout of the support level 0.9735 accelerated wave […]
Daily Market Outlook, November 11, 2022 “Asian markets surged higher overnight, taking their lead from mammoth gains in US markets, with US equity markets adding three trillion dollars of value as US inflation softened. US CPI came in at 7.7% down from the prior print of 8.2%, with the core metric (excluding energy & food) […]
USDJPY Reversal Deepens USDJPY has fallen back under 140 for the first time since September as the correction lower in USD threatens to spill over into a proper reversal. Yesterday’s US CPI release has seen market pricing for the December FOMC swinging in favour of a smaller .5% hike, fuelling an unwinding of USD longs. […]
EURUSD, “Euro vs US Dollar” The pair has completed a wave of growth to 1.0210. At the moment, the market is forming a consolidation range around this level. Today we expect the range to expand to 1.0240. Then a decline to 1.0120 might follow. In case the range is escaped downwards, a pathway to 1.0000 […]
EURUSD, “Euro vs US Dollar” The currency pair is growing inside a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the signal lines of the indicator at 1.0055 is expected, followed by growth to 1.0525. An additional signal confirming the growth will be a bounce off […]