Category: Technial Analysis
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test the support at 5/8, break it, and then continue falling and reach 4/8. However, this scenario may no longer […]
The minutes of the July FOMC meeting are due today and given the recent message of the Fed that positive incoming economic data won’t sway the central bank from its tightening plans, the minutes of the meeting will likely be another opportunity to reinforce that message. That is why the hawkish surprise in today’s communication […]
Type: Bullish Rise Key Levels:Resistance: 144.225Pivot: 141.675Support: 138.625 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 from the pivot at 141.675 where the swing high, 78.6% fibonacci retracement and 127.2% fibonacci projection are to the 1st resistance at […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0220 and then resume moving downwards to reach 1.0005. Another signal in favour of a further downtrend will […]
EURUSD, “Euro vs US Dollar” Having expanded the consolidation range down to 1.1022, EURUSD is growing to expand it upwards. Possibly, the pair may reach 1.0222 and then start another decline with the target at 1.0080. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD continues trading upwards to reach 1.2122 and may later form a […]
Type: Bullish Rise Key Levels:Resistance: 3944.5Pivot: 3849.0Support: 3749.0 Preferred Case:On the H4, with price moving above the ichimoku indicator and within the ascending channel, we have a bullish bias that price will rise to the pivot at 3849.0 where swing high resistance is. Once price has broken pivot structure, we would expect bullish momentum to […]
Type: Bearish Drop Key Levels:Resistance: 0.0075890Pivot: 0.0074140Support: 0.0073120 Preferred Case:On the H4, with the price moving below the ichimoku cloud and breaking the ascending trendline, we have a bearish bias that the price may drop from the pivot at 0.0074140, which is in line with the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection […]
EURUSD remains neutral in anticipation of the FOMC Meeting Minutes. The major currency pair is barely moving on Wednesday. The current quote for the instrument is 1.0163. Despite getting a lot of information in the last 24 hours, investors aren’t very active. One may assume that they are saving strengths in anticipation of the FOMC […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new ascending impulse. In this case, the upside target may be at 1.0225. However, an alternative scenario implies that the price may correct […]
• EURAUD reversed from support level 1.44 • Likely to rise to resistance level 1.4740 EURAUD currency pair recently reversed up sharply from the powerful support level 1.4400 (which previous stopped the sharp downtrend in April, as can be seen below). The upward reversal from the support level 1.4400 started the active minor correction 2. […]