Category: Technial Analysis
BNY Mellon Closing The UK’s Credibility Gap It is abundantly clear that markets do not view the UK Chancellor’s budget plans as credible. While market participants will remain on guard for potential action from the Bank of England to stabilise the pound, its Monetary Policy Committee is realistically only in a situation to be reactive […]
Daily Market Outlook, September 27, 2022 Overnight Headlines Fed Officials Stare Down Markets, Repeat Inflation Top Focus Pound Under Siege With Mounting Odds It Will Drop Below $1 Yuan Plunge Nears 14-Year Low, Inviting Aggressive PBoC Pushback Biden Tells Oil Companies ‘Bring Down Prices You’re Charging’ PBoC Makes Biggest Cash Injection Into System Since February […]
EURJPY On Watch Price action in EURJPY is looking interesting to the long-side here. Following the reversal lower from the failure at 143.80, price has since traded back down to test the 137.74 level and the rising trend line from YTD lows. Yesterday’s reversal saw a bullish pin bar form at what might prove to […]
Equities Attempting Recovery Following Heavy Monday Losses Global equities benchmarks have seen a mixed start to the week with most indices finding their feet today after heavy selling across Monday’s trading. The ongoing rise in USD on the back of last week’s FOMC meeting has had a heavy downward impact on equities prices. With the […]
EURUSD, “Euro vs US Dollar” After completing the descending wave at 0.9550 along with the correction up to 0.9700, EURUSD has formed another descending structure towards 0.9538 with one more correction up to 0.9645. Today, the pair may resume trading downwards with the target at 0.9490. GBPUSD, “Great Britain Pound vs US Dollar” After finishing […]
AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. The Relative Strength Index has broken 30 to the upside, confirming the correction. In this case, the pair is expected to rebound from 1/8 (0.6469), and then […]
• Citibank under bearish pressure • Likely to fall to support level 40.00 Citibank under the bearish pressure after the price broke the key support level 43.50 (former multi-month low from the middle of July). The breakout of the support level 43.50 continues the clear multi-month downtrend that can be seen on the daily and […]
• AUDUSD broke key support level 0.6500 • Likely to fall to support level 0.6300 AUDUSD currency pair recently broke the key support level 0.6500 coinciding with the support trendline of the wide down channel from the middle of April. The breakout of the support level 0.6500 accelerated the active short-term impulse waves iii and […]
US equities fell on Monday, however Asian markets managed to resist the bearish mood on Tuesday, closing on the green side. This is due to a slowdown in the flow of negative news from the geopolitics’ front and from central banks that are fighting inflation. Demand for risk recovered in European markets as well, European […]
ETH On Watch Following the much-vaunted Ethereum network merge which was completed on September 15th, ETH has been fairly lifeless. Ahead of the network consolidation, which has seen ETH issuance drop by 98%, many players were calling for a sizeable rally in ETH. Looking at current price action, we can see that ETH actually continued […]