Category: Technial Analysis

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 […]

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 […]