Category: Technial Analysis
Type: Bullish Rise Key Levels:Resistance: 147.900Pivot: 144.275Support: 141.100 Preferred Case:On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative Scenario:Alternatively, price could break […]
Daily Market Outlook, September 21, 2022 Overnight Headlines Putin Mobilises More Troops, Says West Wants To Destroy Russia Putin Warns Nuclear Response In Threat To Russian Territorial Integrity Fed Set To Hike By 75 Basis Points, With More To Come US Dollar Ascendant As Investors Gear Up For Fed Currency Volatility Surges In Options Market […]
EURUSD, “Euro vs US Dollar” EURUSD has fixed above the support level. 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 0.9895 and then resume moving downwards to reach 0.9365. Another signal in favour of a further downtrend will be […]
EURUSD, “Euro vs US Dollar” EURUSD has completed the descending wave at 0.9814 along with the correction up to 0.9900. Today, the pair may resume trading downwards with the target at 0.9800, or even extend this structure down to 0.9760. GBPUSD, “Great Britain Pound vs US Dollar” Having finished the descending wave at 1.1237 along […]
Type: Bullish Rise Key Levels:Resistance: 710.4Pivot: 699.4Support: 679.25 Preferred Case:On the H4, price has bounced off the second support at 668.25 which is at the 78.6% Fibonacci retracement line and went above the first support at 679.25. Price has also gone above the ichimoku cloud which indicates a bullish bias. Looking for price to continue […]
Type: Bullish Rise Key Levels:Resistance: 8.440Pivot: 7.630Support: 6.965 Preferred Case: On the H4, price has bounced off the 127.2% extension levels forming a triple bottom. We have a bullish bias that the price may rise from the pivot at 7.630, which is in line with the 50% fibonacci retracement to 1st resistance at 8.440, where […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading near the downside border of the “overbought area”. In this case, the price is expected to rebound from 8/8 and then correct down to the support at 6/8. However, this scenario may no longer be valid if the […]
Type: Bullish Drop Key Levels:Resistance: 8.315Pivot: 7.7151st Support: 7.3652nd Support: 5.360 Preferred Case:On the H4, the price is showing a shoulder head pattern and below ichimoku cloud , if the pattern is confirmed, we would have a bearish bias that the price may drop from the pivot at 7.715, which is in line with the […]
Type: Bullish Drop Key Levels:Resistance: 20.915Pivot: 19.700Support: 17.375 Preferred Case:On the H4, with the price is moving below the ichimoku cloud and descending trendline, we have a bearish bias that the price may drop from the pivot at 19.700, which is in line with the pullback resistance, 78.6% fibonacci projection and 23.6% fibonacci projection to […]
GBPUSD is plummeting non-stop. The Pound Sterling reached another low against the USD. The current quote for the instrument is 1.1343. American dollar is putting more and more pressure on the currency market. Most investors are trying to escape risks considering the current escalation in geopolitics and the increasing possibility of a recession. On Thursday, […]