Category: Technial Analysis

GBP Finds Equilibrium – For Now Following the heavy volatility we saw in GBP on Friday and Monday, price action has since stabilised. In GBPUSD in particular, price plunged almost 5% on Monday before reversing around 70% of those losses. The market has since been underpinned by support at the 1.0646 level though looks vulnerable […]

BNY Mellon Reserve Import Cover Shows Vulnerability Although August macro data for APAC countries in general showed continued deterioration, one relative bright spot was tentative signs of stabilization in economic conditions in China. Aside from declining credit growth (aggregate financing eased 0.2ppt to 10.5%), China’s activity data otherwise was encouraging. Examples of recovery signs came […]

AUDJPY Reversing Heavily AUDJPY has undergone a sharp shift in sentiment over recent weeks. Following the breakout to fresh 2022 highs in mid-September, the pair has now collapsed and traded down from around 98.80s to 92.20s currently. The reversal comes amidst a heavy wave of risk aversion sweeping across markets which is fuelling safe-haven demand […]

Copper Turning Lower The recent short idea issued in copper futures has triggered on a break of the 3.3445 lows this week. Copper prices have turned sharply lower following the rejection at the 3.7300 and with support now broken, the focus is on a move down towards the 2.9610 level next. With the US Dollar […]

EURUSD, “Euro vs US Dollar” After completing the correctional wave at 0.9670 along with the descending structure towards 0.9595 and then forming a new consolidation range around the latter level, EURUSD has broken it to the downside; right now, it is still falling to reach 0.9525. Later, the market may start a new growth to […]

USDJPY, “US Dollar vs Japanese Yen” As we can see in the H4 chart, USDJPY is moving within the “overbought area”. The Relative Strength Index has rebounded from the descending trendline. In this case, the pair is expected to test 8/8 (143.75), break it, and then correct downwards to reach the support at 7/8 (142.18). […]

• CHFJPY rising inside impulse wave (3) • Likely to test resistance level 148.00 CHFJPY rising inside the intermediate impulse wave (3), which started earlier from the key support level 144.00 (former monthly high from June), intersecting with the daily up channel from May. The active impulse wave (3) belongs to the higher order primary […]

• USDCHF under bearish pressure • Likely to fall to support level 0.9700 USDCHF currency pair under the bearish pressure after the pair reversed down from the pivotal resistance level 0.9885 (which has been reversing the pair from the middle of July), upper daily Bollinger Band and the resistance trendline of the daily up channel […]

EURUSD, “Euro vs US Dollar” EURUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 0.9575 and then resume moving downwards to reach 0.9285. Another signal in favour of a further downtrend will be a […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new ascending impulse. In this case, the upside correctional target may be at 0.9640. However, an alternative scenario implies that the price may […]