Category: Technial Analysis
• Platinum reversed from support level 828.20 • Likely to rise to resistance level 860.00 Platinum today reversed up from the key support level 828.20 (which stopped the previous medium-term impulse wave (A) in the middle of July) intersecting with the lower daily Bollinger Band. The upward reversal from the support level 828.20 stopped the […]
Type: Bullish Rise Key Levels:Resistance: 1.01055Pivot: 1.00515Support: 0.99910 Preferred Case:With the price moving above the ascending trendline and crossing the ichimoku cloud, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.00515, where the prices tested many times before to the 1st resistance […]
Type: Bearish Reversal Key Levels:Resistance: 4094.62Pivot: 3948.57Support: 3740.23 Preferred Case:On the H4, with prices breaking out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to pivot at 3948.57 where the pullback resistance is. Once there is downside confirmation that price has broken pivot structure, […]
EURUSD managed to recover a little bit after plunging earlier; however, investors are very cautious. The major currency pair may get under pressure on Thursday. The current quote for the instrument is 1.0025. Sure, EURUSD reached parity and even moved a bit higher, but it will be extremely difficult to stay there. The “greenback” is […]
The notion of an ultra-aggressive Fed hiking rates into recession commands the spotlight in the bonds and equity markets, suggesting that risk aversion will likely stay in place for some time. European equity benchmarks continue their march lower, US futures fall, pointing to a red start for the NY session. The EURUSD rate sticks to […]
US ISM Manufacturing Up Next The latest US ISM manufacturing reading is due later today and will likely be the main focus ahead of tomorrow’s NFP results. The August results is forecast to remain in positive territory at 52.1, down from 52.8 prior. However, on the back of the shockingly bad PMIs we saw just […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the pair is expected to test 8/8, break it, and the continue falling towards the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at […]
USDJPY is ready to update its multi-year lows again. The Japanese Yen is back to devaluating against the USD. The current quote for the instrument is 139.38. The “greenback” is extremely strong. In addition to that, market players didn’t get any signal from the Bank of Japan concerning the revision of its monetary policy. It […]
Type: Bearish Drop Key Levels:Resistance: 4078.75Pivot: 3944.00Support: 3725.25 Preferred Case:On the H4, with prices breaking out of the ascending channel and moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 3944.00 where the pullback resistance is to the 1st support at 3725.25 where the swing low […]
Type: Bullish Rise Key Levels:Resistance: 1.03220Pivot: 1.02695Support: 1.03220 Preferred Case:On the H4, with the price pullback from the support, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 1.02695, where the current price is to the 1st resistance at 1.03220, where the overlap […]