Category: Technial Analysis
BRENT As we can see in the H4 chart, Brent is trading below the 200-day Moving Average it to indicate a possible descending tendency. The Relative Strength Index has rebounded from the descending trendline; it is still moving downwards. In this case, the pair is expected to continue falling towards the support at 4/8 (87.50). […]
• WTI broke key support 81.25 • Likely to fall to support level 75.00 WTI crude oil falling after the price broke the key support level 81.25 (which previously formed the daily Hammer in January and also the daily Morning Star at the start of September). The breakout of the support level 81.25 coincided with […]
• GBPUSD under strong bearish pressure • Likely to fall to support level 1.0800 GBPUSD under the strong bearish pressure after the pair broke the key support level 1.1400 (which stopped the previous downward impulse wave (iii) at the start of September). The breakout of the support level 1.1400 led to the latest breakout of […]
What a week. Feels like I’ve been saying this quite a lot recently, but it’s been another action-packed session for financial traders. We’ve seen rate hikes from the Fed, the SNB, Norges Bank and the BOE as well as the first currency intervention from the BOJ in over 30 years. The developments have naturally caused […]
Type: Bullish Rise Key Levels:Resistance : 147.900 Pivot: 144.275 Support : 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 […]
The BTC is trying to recover, but its hopes were shipwrecked. Yesterday, the major crypto gained almost 4%, but today it is retreating to $19,065. We’ve already told earlier that important support level at $18,000-$19000 “survived”. However, the BTC still stands a good chance to reach this range, because there are no good reasons to […]
The Pound sterling is plunging against the USD. The current quote for the instrument is 1.1158. During its September meeting, the Bank of England raised the benchmark interest rate for the seventh consecutive time, by 50 basis points, to 2.25%. Such a hike was widely expected, but some investors believed it could have been more […]
US PMIs Up Next The next set of US PMI reports for the services and manufacturing sectors are due today and will be closely watched following the downside surprises seen last month. The drop in business activity in July saw the services sector reading falling into contractionary territory at 43.7, this time around the market […]
PMIs Turn Lower Still The latest round of Eurozone PMIs today highlighted worsening economic conditions in the single customs union. Both services and manufacturing sector readings were seen plunging further into contractionary territory last month. The manufacturing PMI was seen falling to 48.5 from 49.6, below forecasts for a 48.7 reading. Services, meanwhile, was seen […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Harami 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 0.9900. However, an alternative scenario implies that the price may […]