Category: Technial Analysis

EURUSD is falling pressured by the “greenback”; market players are focused on the Fed meeting.  The major currency pair is falling on Wednesday. The current quote for the instrument is 0.9927. All investors are focused on the Fed’s meeting to be over later in the evening, where the regulator is expected to announce its rate […]

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 […]

Type: Bearish Drop Key Levels:Resistance: 681.75Pivot: 688.00Support: 668.25 Preferred Case:On the H4, with the price reflecting off the 61.8% Fibonacci retracement line and the price being inside ichimoku cloud, we have a neutral bias on corn. price could back to 668.25 where the previous swing low is. Alternative Scenario:Alternatively, price might go back up towards […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset may reverse in the form of a new ascending impulse. In this case, the upside correctional target may be at 1685.00. At the same […]

EURUSD, “Euro vs US Dollar” EURUSD is falling towards the downside border of the consolidation range at 0.9945 and may later grow to test 0.9990 from below. After that, the instrument may start a new decline with the target at 0.9890, or even extend this structure down to 0.9800. GBPUSD, “Great Britain Pound vs US […]

Type: Bearish Drop Key Levels:Resistance: 3.5555Pivot: 3.4755Support: 3.3695 Preferred Case:On the H4, with price below the ichimoku indicator and RSI is moving within a descending trendline, we have a bearish bias that the price may drop from the pivot at 3.4755, which is in line with the overlap support to the 1st support at 3.3695, […]

Type: Bullish Rise Key Levels:Resistance: 20820Pivot: 19340Support: 18330 Preferred Case:On the H4, price has bounced off the support level and broken the swing low, we’re looking for a break out of 19340 levels where the 78.6% retracement sits. If bullish momentum continues, it should bring price to 20820 where the 78.6% projection sits Alternative Scenario:Alternatively, […]

The FOMC meeting is due tomorrow and policymakers are expected to lift interest rate by 75 basis points. The odds of a larger rate hike of 100 bps are estimated at 20%. Hawkish US inflation report for August ruled out any possibility of easing the pace of tightening. The Market’s focus will also be on […]

Type: Bearish Drop Key Levels:Resistance: 8.340Pivot: 7.675Support: 7.365 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 7.675, which is in line with the 50% fibonacci retracement to 1st resistance at 8.340, where the […]

• NZDUSD broke round support level 0.6000 • Likely to fall to support level 0.5800 NZDUSD currency pair recently broke below the round support level 0.6000 (which stopped the earlier minor impulse wave (i) at the start of this month). The breakout of the support level 0.6000 accelerated the active impulse waves 3 and (iii) […]