Category: Technial Analysis

• Gold broke support level 1725.00 • Likely to fall to support level 1700.00 Gold recently broke the support level 1725.00 intersecting with the 61.8% Fibonacci correction of the upward correction 2 from July. The breakout of the support level 1725.00 accelerated the active short-term impulse waves (iii) and 3, which belong to the intermediate […]

• WTI reversed from resistance level 95.00 • Likely to fall to support level 141.35 WTI crude oil recently reversed down with the Bearish Engulfing from the resistance level 95.00 (which has been reversing the pair from the start of August) intersecting with the upper daily Bollinger Band and the 38.2% Fibonacci correction of the […]

The Eurozone economic sentiment indicator decreased modestly from 98.9 to 97.6 points in August. Both industry and manufacturing saw a deterioration in economic activity. At the same time, expectations of a recession in the economy lead to more moderate forecasts for higher inflation on the back of consumer spending in the coming months. Economic sentiment […]

Tesla Fails to Rally Following Stock Split Following a decent recovery rally over recent months, Tesla shares have stalled over August and have settled into a tight range between 281.39 and 315.77. The company posted solid Q2 earnings and 50% of the year’s losses before momentum fizzled out. Last week, the company underwent a 3.1 […]

Type: Bearish Drop Key Levels:Resistance: 1.01020Pivot: 0.99945Support: 0.99945 Preferred Case:On the H4, with the price moving below the ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 0.99945, where the 38.2% fibonacci retracement are to the 1st support at V, where the 61.8% fibonacci projection and swing […]

Type: Bearish Drop Key Levels:Resistance: 32605.39Pivot: 31887.83Support: 30449.12 Preferred Case:On the H4, with price breaking the ascending trendline and moving below the ichimoku indicator, ,we have a bearish bias that price will drop to pivot at 31887.83 where the pullback support, 100% fibonacci projection, 61.8% fibonacci retracement and 127.2% fibonacci extension are. Should price break […]

GBPUSD remains under pressure; the asset is trading at its 30-month lows. On Tuesday morning, the Pound Sterling is looking as weak against the USD as before. The current quote for the instrument is 1.1715. It appears that the British economy can’t handle one problem before another starts knocking on the door. This continuous stress […]

EURUSD got very close to parity again.  The major currency pair recovered a little bit after plunging earlier this week. The current quote for the instrument is 0.9984. The key negative vibe for EURUSD was the speech delivered by US Fed Chair Jerome Powell at the economic symposium in Jackson Hole. Powell said that the […]

Type: Bullish Rise Key Levels:Resistance: 721’0Pivot: 667’4Support: 641’0 Preferred Case:On the H4, with price moving above the ichimoku indicator and along the ascending trendline , we have a bullish bias that price will rise from the pivot at 667’4 where the pullback support is to the 1st resistance at 721’0 in line with pullback resistance […]

Type: Bearish Drop Key Levels:Resistance: 3.7120Pivot: 3.5620Support: 3.4500 Preferred Case:On the H4, with price breaking the trendline and below ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 3.5620, where the swing lows and 61.8% fibonacci retracement are to the 1st support at 3.4500, where the 50% fibonacci […]