Category: Technial Analysis

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns close to the resistance level, such as Engulfing, USDCAD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.2910. Later, the market may break this level […]

• Citibank reversed from resistance level 54.00 • Likely to fall to support level 50.65 Citibank recently reversed down from the pivotal resistance level 54.00 (former monthly low from March – which has been reversing Citibank from the time it was broken in April), strengthened by the upper daily Bollinger Band. The downward reversal from […]

• NZDCAD broke daily up channel • Likely to fall to support level 0.8000 NZDCAD recently broke the support trendline of the daily up channel from the middle of July (which encloses the previous intermediate ABC correction (2)). The breakout of this up channel from should accelerate the active medium-term downward impulse wave (3). Given […]

Type: Bullish Rise Key Levels:Resistance: 35410Pivot: 34016Support: 33432 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 to the pivot at 34016 where the pullback resistance is. Once there is upside confirmation that price has broken pivot structure, […]

Type: Bearish Drop Key Levels:Resistance: 24315Pivot: 22430Intermediate Support: 20740Support: 18875 Preferred Case:On the H4, with the price moving below the ichimoku cloud and breaking the ascending channel , we have a bearish bias that the price may drop from the pivot at 22430 where the overlap resistance is to the 1st support at 18875 where […]

GBPUSD continues falling; July lows are ahead.  The Pound Sterling is looking weak against the USD. The current quote for the instrument is 1.1858. The statistics published earlier today didn’t provide the Pound with any support. Retail Sales in the United Kingdom added 0.3% m/m in July against the expected reading of -0.25 m/m. Core […]

EURUSD, “Euro vs US Dollar” EURUSD has fixed below the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.0140 and then resume moving downwards to reach 0.9805. Another signal in favour of a further downtrend will be […]

FOMC Minutes Keep USD Supported Far from adding weight to the idea of a “Fed pivot” in the near-term. The release of the July FOMC minutes yesterday saw the Fed reaffirming its commitment to continued tightening. The Fed outlined plans to press ahead with tightening until inflation was back at the bank’s 2% target. While […]

Target Misses Earnings Forecasts Shares in iconic US department store Target are trading a little lower ahead of the open today following the release of lifeless Q2 earnings yesterday. The retailer reported EPS of $0.39, undershooting forecasts for a $0.72 result. Revenues were roughly flat at $26.037 billion versus $26.032 billion forecast. This marks the […]

• Silver reversed from resistance level 20.50 • Likely to fall to support level 19.00 Silver recently reversed down from the key resistance level 20.50 (former monthly low from May), intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from June. The downward reversal from the resistance level […]