Category: Technial Analysis
• Nikkei 225 approaches key resistance level 28640.00 • Likely to correct down to support level 28400.00 Nikkei 225 index today approached the key multi-month resistance level 28640.00, which stopped the sharp upward impulse wave (A) at the end of March, as can be seen below. The resistance zone near the resistance level 28640.00 was […]
• GBPCHF under bearish pressure • Likely to fall to support level 1.1400 GBPCHF currency pair under the bearish pressure after the price broke the key support level 1.1525 (which has been reversing the price from the start of July). The breakout of the support level 1.1525 accelerated the active short-term downward impulse wave (iii) […]
The US July inflation report, which showed a faster-than-expected slowdown in inflation, became the catalyst for a major rally in risk assets, especially in emerging markets. Investors took it as a factor that would ease pressure on the Fed to accelerate policy normalization. The key event today will be the release of the U. Michigan […]
Type: Bullish Rise Key Levels:Resistance: 27225Pivot: 24315Support: 22395 Preferred Case:On the H4, with price moving within a bullish channel as well as above the ichimoku indicator and RSI moving along an ascending trendline, we have a bullish bias that price will rise to our pivot at 24315 where the overlap resistance is. Once there is […]
GBPUSD is keeping its positive momentum while the “greenback” remains weak. The Pound Sterling is looking good against the USD on Friday. The current quote for the instrument is 1.2178. In the morning, the United Kingdom released a great deal of numbers. Industrial Production lost 0.9% m/m in June after adding 1.3% m/m in the […]
EURUSD, “Euro vs US Dollar” EURUSD is falling to reach 1.0270. After that, the instrument may form one more ascending wave with the target at 1.0355, or even extend this structure up to 1.0400. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading downwards to reach 1.2158. Later, the market may form one more […]
Daily Market Outlook, August 12, 2022 Overnight Headlines UK Economy Contracts Slightly Less Than Feared At 0.6% Fed’s Daly: Base Case Is 50Bps Hike In September, Open To 75Bps Biden Plots A 2024 Presidential Run — And A Trump Rematch EU Proposes Significant Concession To Iran To Revive Nuclear Deal China To Partially Renew Medium-Term […]
Equity markets made another leap upwards amid a buildup of expectations of a slight dovish shift in the Fed policy. This was facilitated by the release of the US July CPI, which showed that inflation in July decelerated faster than expected. Core inflation remained unchanged at 5.9% (despite expectations of acceleration), headline inflation slowed down […]
Type: Bullish Rise Key Levels:Resistance: 34021Pivot: 33438Support: 32699 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 to pivot at 33438 where the swing high resistance is. Once there is upside confirmation that price has broken pivot structure, we […]
Type: Bullish Breakout Key Levels:Resistance: 2022.93Pivot: 1919.44Support: 1785.62 Preferred Case:On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to pivot at 1919.44 where the 161.8% fibonacci extension, -27.2% fibonacci expansion and swing high resistance are. Once there is upside confirmation […]