Category: Technial Analysis
EURUSD, “Euro vs US Dollar” On H4, at the resistance level, the pair has formed a reversal pattern Harami. The quotes can go by the signal in a descending impulse, possibly aiming at 0.9875. However, the price may grow to 1.0035 and bounce off this level, continuing the downtrend after the correction. USDJPY, “US Dollar […]
• Gold under bearish pressure • Likely to fall to support level 1650.00 Gold under the bearish pressure after the price broke the pivotal support level 1690.00 (which has been reversing Gold from the middle of July). The breakout of the support level 1690.00 continues the clear multi-month downtrend that can be seen on the […]
• Adobe broke multi-month support level 350.00 • Likely to fall to support level 300.00 Adobe today opened with the sharp downward gap, which broke below the key multi-month support level 350.00 (which stopped wave (5) in the middle of June). The breakout of the support level 350.00 accelerated the active intermediate impulse wave (3), […]
Type: Bearish Drop Key Levels:Resistance: 1707.0Pivot: 1694.6Support: 1680.8 Preferred Case:On the H4, with the price moving below the ichimoku cloud and descending trendline, we have a bearish bias that the price may drop from the pivot at 1695.8, which is in line with the swing lows to the 1st support at 1680.8, where the swing […]
Copper Traders Eyeing A Downside Break? The fear and uncertainty around the prospect of a global recession over the remainder of the year are well reflected in the recent price action we’ve seen in copper futures. Following the heavy sell off we saw over Q2, prices attempted a recovery across July but were rebuffed into […]
The Australian dollar against the US dollar continues falling. The current quote is 0.6742. After a crash on Tuesday, the Aussie has somewhat stabilized but sellers are still prevailing. As morning statistics demonstrated, the unemployment rate in Australia in August grew to 3.5% against 3.4% in July, while no changes had been expected. The number […]
USDCHF, “US Dollar vs Swiss Franc” On H4, the pair is under the 200-day Moving Average, which means the prevalence of a downtrend. A test of 6/8 is expected, followed by a bounce off it and falling to the support level of 4/8. The scenario can be cancelled by a breakaway of 6/8 upwards, which might […]
CADCHF Looking to Break Lows CADCHF shorts look good here. The market has been grinding lower from the May highs and has now broken below the rising trend line from 2020 lows. The retail market is more than 90% long the pair, suggesting plenty of room for the current breakdown to continue. While the BOC […]
Type: Bearish Drop Key Levels:Resistance: 9.250 Pivot: 8.945 Support: 8.495 Preferred Case:On the H4, with the Stoch is over 80 and the price dropping from the 1st resistance, we have a bearish bias that the price may drop from the pivot at 8.945, which is in line with the 23.6% fibonacci retracement and overlap resistance […]
The market major today remains weak, the current quote being 0.9975. The statistics from the Euro zone published yesterday disappointed investors and compromised the EUR. Industrial production in the region in July dropped by 2.3% m/m against the forecast 1% and by 2.4% y/y against the forecast growth by 0.4% and growth in June by […]