Category: Technial Analysis
USDJPY, “US Dollar vs. Japanese Yen” On the H4 chart, after rebounding from 8/8, USDJPY is trading below it. In this case, the price is expected to test the support at 7/8, break it, and then continue falling and reach 6/8. However, this scenario may no longer be valid if the price breaks the resistance […]
Type: Bullish Rise Key Levels:Resistance: 70.30Pivot: 68.56Support: 65.91 Preferred Case:On the H4, with the price moving within the ascending trendline, we have a bullish bias that the price may rise from the pivot at 68.56, which is in line with the overlap resistance to the 1st resistance at 70.30, where the swing high is. Alternative […]
Type: Bearish Drop Key Levels:Resistance: 883.8Pivot: 858.9Support: 833.2 Preferred Case:On the H4, with price going within the descending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to the pivot at 858.9 where the overlap support is. Once there is downside confirmation that price has broken pivot structure, […]
EURUSD, “Euro vs US Dollar” Having completed the descending wave at 0.9900, EURUSD is consolidating above this level. Possibly, the pair may grow to reach 1.0055 and then resume falling with the target at 0.9800. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the descending wave at 1.1717 and forming a new consolidation range […]
EURUSD remains under parity and raises a lot of questions. The major currency pair continues to fall. The current quote for the instrument is 0.9948. Demand for the “greenback” as a “safe haven” asset is not calming down, and it’s quite clear why: investors are still concerned about the possibility of a global recession. Macroeconomic […]
BBBY Shares Reverse Following an incredibly near-400% rally over the first two week of August, shares in struggling retailer Bed Bath & Beyond are almost back to where they started the month. The stock soared higher earlier this month as a result of a sudden return of the WallStreetBets trader community on Reddit. These retailer […]
Type: Bearish Drop Key Levels:Resistance: 1952.5Pivot: 1920.4Support: 1841.8 Preferred Case:On the H4, with price moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 1920.4 where the pullback resistance is to the 1st support at 1841.8 where the pullback support, 50% fibonacci retracement and 161.8% fibonacci extension […]
GBPUSD hit the low of March 2020; the asset remains under pressure. The Pound Sterling hit a new bottom against the USD. The current quote for the instrument is 1.1823. Yesterday, the Pound was testing the low it reached on 23 March 2020, at 1.1717. Just like we said before, the Pound must be feeling […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns close to the support level, such as Inverted Hammer, USDCAD may reverse in the form of a new ascending impulse. In this case, the upside target may be at 1.3045. Later, the market may break this […]
• AUDNZD reversed from resistance level 1.1165 • Likely to fall to support level 1.1100 AUDNZD currency pair is currently testing the resistance level 1.1165 (which has been steadily reversing the price from the start of June), strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 1.1165 will stop the […]