Category: Technial Analysis
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. In this case, the price is expected to break 2/8 and continue falling to reach the support at 0/8. However, this scenario may no longer be valid […]
EURUSD, “Euro vs US Dollar” EURUSD is correcting within the Wedge pattern. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0045 and then resume moving downwards to reach 0.9845. Another signal in favour of a further […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Shooting Star reversal pattern close to the resistance area, EURUSD may reverse in the form of a new descending impulse. In this case, the downside target may be at 0.9955. However, an alternative scenario implies that the price may […]
Type: Bearish Drop Key Levels:Resistance: 3.5565Pivot: 3.4990Support: 3.47325 Preferred Case:On the H4, with the Stoch is below 20, and the price is below ichimoku cloud , RSI is showing a descending trendline and Stoch is reversing from the resistance, we have a bearish bias that the price may drop from the pivot at 3.4990, which […]
Type: Bullish Rise 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 […]
BNY Mellon US Recession Risk Rising We expect the Federal Reserve to raise the federal-funds target range rate by 75bp at the conclusion (Wednesday) of this week’s FOMC gathering. We have revised up our terminal rate expectation from 4% (held since early 2022) to 5%. Our rationale: last week’s outsized core CPI data for August […]
Type:Bearish Drop Key Levels:Resistance: 1738.4Pivot: 1780.8Support: 1680.2 Preferred Case:On the H4, with the price moving below the ichimoku cloud and RSI is showing a descending trend, we have a bearish bias that the price may drop form the pivot at 1777.8, which is in line with the overlap support and 61.8% fibonacci projection to the […]
• USDCAD broke key resistance level 1.3200 • Likely to rise to resistance level 1.3400 USDCAD currency pair under the bullish pressure after the price broke above the key resistance level 1.3200 (which has been reversing the pair from July, as can be seen below). The breakout of the resistance level 1.3200 accelerated the active […]
Metals Under Pressure Ahead of FOMC It’s been a soft start to the week for the metals market as fresh strength in USD sees gold and silver both sold over the European open on Monday. Traders’ focus this week will be fixed firmly on the FOMC on Wednesday. The US Dollar was seen back in […]
Type: Bullish Rise Key Levels:Resistance: 17425Pivot: 18560Support: 19370 Preferred Case:On the H4, price has broken the swing low, we’re looking for a break out of 18560 levels where the 61.8% projection sits. If bearish momentum continues, it should bring price to 17425 where the 78.6% projection sits Alternative Scenario:Alternatively, price could pull back to the […]