Category: Technial Analysis

GBPUSD remains under slight pressure on Wednesday after the United Kingdom released numbers on inflation. The Pound Sterling is slowly falling against the USD. The current quote for the instrument is 1.2114. The British CPI skyrocketed in July and reached 10.1% y/y after being 9.4% y/y in June and against the expected reading of 9.8% […]

Daily Market Outlook, August 17, 2022 Overnight Headlines Biden Signs Inflation Act, Sets 15% Minimum Corporate Tax Chipmakers Are Flashing More Warnings On The Global Economy Goldman Warns Iran Nuclear Deal Is ‘Unlikely’ After Oil Tumbles FX Activity Surges 8% As War And Inflation Risks Fuel Volatility Cheney, Republican Who Defied Trump, Loses Wyoming Race […]

Type: Bullish Bounce Key Levels:Resistance: 35508.28Pivot: 34117.23Support: 33492.68 Preferred Case:On the H4, with price moving above the ichimoku indicator and along an ascending trendline, we have a bullish bias that price will rise from our pivot at 34117.23 where the pullback support is to the 1st resistance at 35508.28 where the swing high resistance, 161.8% […]

Foreign trade indices of major energy importers continue to hit new lows and markets are increasingly focused on how governments will respond to rising natural gas prices. At the same time, the weakening of the yuan and a number of potential upside surprises for the US economy today decrease the odds of a bearish dollar […]

GBPCAD Base Building? GBPCAD is one pair I’m monitoring with interest currently. The market has been trading lower over the year, tracing an orderly bearish channel from the roughly 1.65 highs down to the mid-1.53 lows. However, over the recent declines we’ve seen strong bullish divergence on momentum studies, suggesting potential for a reversal in […]

EURUSD, “Euro vs US Dollar” Having completed the descending wave at 1.0160, EURUSD is consolidating there. If later the price breaks the range to the upside, the market may form one more ascending wave to reach 1.0222, and then start another decline with the target at 1.0080; if to the downside – resume falling towards […]

AUDUSD, “Australian Dollar vs US Dollar” In the H4 chart, after breaking 8/8, AUDUSD is no longer moving within the “overbought area”. In this case, the price is expected to test 6/8, break it, and then continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price […]

Type: Bullish Rise Key Levels: Resistance : 2727.9 Pivot: 2612.6 Support : 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 from the pivot at 2612.6 where the pullback support is to the 1st resistance at 2727.9 […]

Coinbase Holding Above Lows Shares in Coinbase are continuing to hold above the yearly lows, despite a dismal set of Q2 earnings from the company last week. The crypto broker posted EPS of -$4.98, down sharply on the -$2.47 the market was looking for. Additionally, revenues were seen heavily lower at $808 million, versus $873 […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is no longer trading within the bullish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2115 and then resume moving downwards to reach 1.1775. Another signal in […]