Category: Technial Analysis
Type: Bullish Rise Key Levels:Resistance:710.4Pivot: 699.4Support: 679.25 Preferred Case:On the H4, the price has came back down to test the 1st support at 679.25 and has reflected off it. Price has also went back above the Ichimoku cloud which indicates a bullish bias. Looking for price to continue bullish to hit the first resistance at […]
Type: Bullish Rise Key Levels:Resistance: 3.6405Pivot: 3.5440Support: 3.4385 Preferred Case:On the H4, with price moving along the ascending trendline, we have a bullish bias that price will rise from the pivot at 3.5440, which is in line with the 38.2% fibonacci retracement and 5overlap resistance to the 1st resistance at 3.6405 where the 61.8% fibonacci […]
Type: Bearish Drop Key Levels:Resistance: 8.440Pivot: 7.630Support: 7.035 Preferred Case:On the H4, the overall trend is still descending and respecting the ichimoku indicator hence we are bearish bias. The price is forming a shoulder head pattern hence price might drop from the pivot at 7.630, which is in line with the 50% fibonacci retracement and […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Shooting Star reversal pattern close to the resistance level, USDCAD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.3410. Later, the market may rebound from this level […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. The Relative Strength Index is testing the ascending trendline. In this case, the pair is expected to rebound from 6/8 (0.9643), and then resume […]
• CHFJPY reversed from resistance zone • Likely to fall to support level 144.00 CHFJPY recently reversed down sharply from the resistance zone located between the round resistance level 150.00 (which formed the daily Evening Start patter at the start of this month) and the upper daily Bollinger Band. The downward reversal from the resistance […]
Greenback continues to gain more ground thanks to a “welcomed” mix of geopolitical instability and increasing policy lag between the Fed and other major central banks. Even though the market positioned itself for a “worst-case” meeting scenario, the Fed managed to surprise even hawks with its updated dot plot projections. They indicated sharp revisions in […]
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 […]
USDJPY is falling on Thursday after interventions by the Bank of Japan. The Japanese Yen reached stability against the USD. The current quote for the instrument is 142.85. The Yen was weakening against the USD yesterday but managed to reach stability this morning. The Japanese currency might be interesting for investors as a “safe haven” […]
EURUSD reached another bottom, the lowest in the last 20 years. The major currency pair continues to retreat on Thursday. The current quote for the instrument is 0.9866. The USD is in high demand from investors who are trying to escape risks. So, the most important monetary event of the month is over – the […]