Category: Technial Analysis
Equities kicked off the week with a rally and greenback dropped another 1% as investors tend to price in a bearish CPI report. The dollar index briefly fell below 108 points, the lowest level in a month. The flight of investors from the dollar comes despite continuing appreciation of Treasury yields – the yield to […]
Metals Rebounding, Helped by Weaker USD The metals market has started the week on the front foot, benefitting from the developing correction in USD. The Dollar has been net-sold since the middle of last week and is seeing further selling again today. One of the key drivers behind the downshift in USD has been the […]
Type: Bearish Drop Key Levels:Resistance: 148.125Pivot: 144.475Support: 141.150 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 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative Scenario:Alternatively, price could break […]
Type: Bullish Rise Key Levels:Resistance: 1.1774Pivot: 1.1650Support: 1.1497 Preferred Case:On the H4, with the price breaking the descending trendline and ichimoku cloud , we have a bullish bias that the price may rise from the pivot at 1.1650, where the current price and overlap resistance are to the 1st resistance at 1.1774 where the overlap […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. A breakaway of 5/8 downwards is expected, followed by falling to the support level of 3/8. The scenario can be cancelled by rising over the resistance level of 6/8, which might lead to a […]
• WTI reversed from key support level 85.00 • Likely to fall to resistance level 90.00 WTI crude oil recently reversed up from the key support level 85.00 (former multi-month high from October of 2021), intersecting with the 61.8% Fibonacci correction of the upward impulse from December. The upward reversal from the support level 85.00 […]
• USDCAD falling inside short-term corrective wave (ii) • Likely to fall to support level 1.2900 USDCAD currency pair continues to fall inside the short-term corrective wave (ii), which started earlier from the key resistance level 1.3200 (which stopped wave 1 in July). Wave (ii) belongs to the higher-order impulse waves 3 and (3) from […]
Type: Bullish Rise Key Levels:Resistance: 33432Pivot: 31862Support: 30966 Preferred Case:On the H4, with price moving along the ascending trendline and breaking above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 31862 where the pullback support is to the 1st resistance at 33432 where the overlap resistance, 78.6% […]
Type: Bullish Rise Key Levels:Resistance: 24320Pivot: 22440Support: 20790 Preferred Case:On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 22440 where the overlap resistance and 61.8% fibonacci retracement are. Once there is upside confirmation that price has broken pivot structure, we would […]
On Monday, the BTC grew to 21,716 USD. This is good news, because previously there was little chance that digital assets would be able to recover after sales and a lengthy flat. So, an important local resistance area in the BTC is now at 21,900-22,000 USD. The next spto is 22,500 USD. The market will […]