Category: Technial Analysis

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Engulfing reversal pattern close to the support level, USDCAD is reversing in the form of a new ascending wave. In this case, the upside target may be at 1.3900. Later, the market may break the resistance area and […]

EURUSD, “Euro vs US Dollar” EURUSD is no longer trading inside the bearish channel. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9745 and then resume moving upwards to reach 1.0115. Another signal in favour of […]

A 2-day recovery of the BTC slowed down on Friday. The major crypto is consolidating at $19,600. It’s higher than strategic support levels of $18,000-$19,000, which were able to survive again. However, it’s lower than the resistance area at $21,500, which may lead the way to $22,000 where the asset may start a proper growth. […]

The major currency pair moved away from the local bottom. The current quote for the instrument is 0.9800. The “greenback” dropped yesterday due to the decline in the US bond yield. Another thing that put pressure on the American currency was the strengthening of the offshore exchange rate of Chinese yuan. It looks rather unusual, […]

Bitcoin keeps testing the supporting level of 19000 without breaking it. Bitcoin is still likely to pull away from the support and target the level of 22000 next. Having formed the new minimum, gold is trying to recover. So far, this asset is likely to approach the level of 1735, which is located next to […]

• GBPJPY rising in line with the weekly uptrend • Likely to test resistance level 162.50 GBPJPY continues to rise after the price reversed up from the round support level 150.00 (which reversed the pair multiple times in 2021), standing close to the 38.2% Fibonacci correction of the upward trend from the start of 2020. […]

Equity markets remain highly turbulent, apparently there is little consensus on what lies ahead for the global economy. US markets posted modest gains on Wednesday, but already on Thursday there are no signs of optimism left since risk assets decline, SPX futures trade below 3700 points, European markets tank, losing on average 1.5%. Fixed-income markets […]

Daily Market Outlook, September 29, 2022 Overnight Headlines Fed’s Evans: Fed Must Press On Despite Global Market Volatility Biden Tells Econ Team To Stay In Touch With Allies On Markets US Treasury Alarmed At UK Economic Chaos Unleashed By PM BoE Response Highlights ‘Impossible Trinity’ Of Liquidity Issues Pressure Builds On Kwarteng As UK Tories […]

EURUSD, “Euro vs US Dollar” After completing another descending wave at 0.9535 along with the correctional structure up to 0.9727, EURUSD is forming a new descending structure to break 0.9575. Later, the market may continue trading downwards with the target at 0.9408. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has finished the correction up […]

USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, USDCHF is trading within the “overbought area”. The Relative Strength Index is heading towards 30 and is currently testing the support line, a breakout of which might signal a further downtrend. In this case, the pair is expected to break 8/8 (0.9765) and then continue […]