Category: Technial Analysis
USDJPY, “US Dollar vs Japanese Yen” On H4, the quotes have reached the overbought area. We should expect a bounce off 8/8 and subsequent falling to the nearest support level of 7/8. The scenario can be cancelled by rising over the resistance level of +1/8, in which case growth will continue so that the quotes […]
Type: Bullish Rise Key Levels:Resistance: 4.1133Pivot: 3.7968Support: 3.4495 Preferred Case:On the H4, with price moving within the ascending channel , we have a bullish bias that price will rise to the pivot at 3.7968 where the overlap resistance and 50% fibonacci retracement are. Once there is upside confirmation that price has broken pivot structure, we […]
RBA Hikes, Signals More to Come In line with expectations, the RBA hiked rates by a further .5% at its September meeting overnight. On the back of the hawkish guidance issued at the last meeting, the move was well signalled. With this lates increase, which marks the fifth consecutive monthly rate hike from the RBA, […]
Type: Bearish Drop Key Levels:Resistance: 1846.4Pivot: 1794.6Support: 1681.1 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 the pivot at 1794.6 where the pullback support and 61.8% fibonacci retracement are. Once there is downside confirmation of price breaking […]
Type: Bearish Drop Key Levels:Resistance: 31860Pivot: 31240Support: 30417 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 31240 where the swing low support and 78.6% fibonacci projection are. Once there is downside confirmation that price has […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, the pair has formed a Harami reversal pattern at the support level. Going by the reversal signal, the pair might end up in an ascending impulse. The goal of growth should be 1.3245; later the price might break through it continue growing. However, the quotes might pull […]
• CHFJPY broke key resistance level 143.10 • Likely to rise to resistance level 146.00 CHFJPY currency pair recently broke the key resistance level 143.10, which has been reversing the price from the end of June, as you can see from the daily CHFJPY chart below. The breakout of the resistance level 143.10 accelerated the […]
• EURJPY broke key resistance level 139.50 • Likely to rise to resistance level 142.30 EURJPY currency pair recently broke the key resistance level 139.50 standing close to the 61.8% Fibonacci correction of the earlier downward ABC correction (2) from June. The price earlier broke the resistance trendline of the daily down channel from the […]
Chinese renminbi, being in a free fall, started to worry China’s central bank, which eventually responded quite decisively, reducing the reserve ratio for banks from 8% to 6%. The new policy change will come into effect on September 15. The lower RRR will free up additional liquidity for banks, allowing them to increase lending, thus […]
Type: Bearish Drop Key Levels:Resistance: 0.0072125Pivot: 0.0070865Support: 0.0070165 Preferred Case:On the H4, with price moving below the ichimoku indicator, and within the descending trendline, we have a bearish bias that price will drop from pivot at 0.0070865 where the current price and 78.6% fibonacci projection are to the 1st support at 0.0070165 where the 100% […]