Category: Technial Analysis
Type: Bearish Drop Key Levels:Resistance: 1.0241Pivot: 1.0156Support: 1.0091 Preferred Case:On the H4, with the price below the ichimoku cloud and breaking the ascending trendline, we have a bearish bias that the price may drop from the pivot at 1.0156, which is in line with the overlap support and 61.8% fibonacci retracement to the 1st support […]
Type: Bullish Bounce Key Levels:Resistance: 4509.00Pivot: 4304.25Support: 4204.00 Preferred Case:On the H4, with price moving above the ichimoku indicator and within an ascending trendline, we have a bullish bias that price will rise to pivot at 4303.25 where the overlap resistance is. Once there is upside confirmation that price has broken pivot structure, we would […]
EURUSD, “Euro vs US Dollar” EURUSD is consolidating around 1.0170. Possibly, today the pair may expand the range down to 1.0142 and then correct to reach 1.0222. After that, the instrument may start another decline with the target at 1.0080. GBPUSD, “Great Britain Pound vs US Dollar” After completing the ascending wave at 1.2141 along […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to rebound from 4/8 and resume falling towards the support at 2/8. However, this scenario may be cancelled if the […]
The level of 107 in the dollar index (DXY) remains a hard nut to crack as a bullish retest failed yesterday; the Fed Minutes did not work as a catalyst for a sweeping move, although there were some solid grounds to expect an increase in hawkish rhetoric. Nevertheless, key takeaways from the report argue in […]
Type: Bullish Rise Key Levels:Resistance: 2727.9Pivot: 2612.6Support: 2564.4 Preferred Case:On the H4, with price moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise to the pivot at 2612.6 where the pullback resistance is. Once there is upside confirmation that price has broken pivot structure, […]
AUDUSD has been plunging for the fifth consecutive trading session; the labour market data turned out to be very weak. The Australian Dollar is looking unimpressive against the USD. The current quote for the instrument is 0.6940. The statistics published by Australia in the morning were rather controversial. On one hand, Unemployment Rate in the […]
EURUSD is consolidating; investors are monitoring the unfolding situation. The major currency pair remains stable on Thursday. The current quote for the instrument is 1.0168. The currency market volatility is extremely low – investors aren’t willing to expend their energy in responding to the events they are usually interested in. However, it’s quite okay for […]
Type: Bullish Rise Key Levels:Resistance: 13968Pivot: 13674Support: 13379 Preferred Case:On the H4, with price expected to bounce from the stochastic support, moving above the ichimoku indicator and within an ascending channel , we have a bullish bias that price will rise to the pivot at 13674 where the pullback resistance is. Once there is upside […]
Type: Bearish Drop Key Levels:Resistance: 3.6500Pivot: 3.5315Support: 3.4115 Preferred Case:On the H4, with the price breaking the ascending trendline and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3.5315, which is in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st support […]