Category: Technial Analysis
Type: Bullish Rise Key Levels:Resistance: 13873Pivot: 13357Support: 12968 Preferred Case:On the H4, with price moving in an ascending trendline, moving above the ichimoku cloud and price recently breaking the descending trendline, we have a bullish bias that price will rise from the pivot at 13357 at the pullback support at the swing low in line […]
• Gold reversed from support area • Likely to rise to next resistance level 1759.00 Gold recently reversed up from the support area lying between the key support level 1685.60 (which has been reversing the price from the start of April) and the lower weekly Bollinger Band. The upward reversal from this support area stopped […]
The EURUSD bounce on the surprising 50 bp rate hike from the ECB proved to be short-lived indicating that investors probably prefer to focus on fundamentals, other than the rate differential with the Fed. The pair erased gains made after the ECB meeting and moved lower on Friday, finding some support at 1.015 level. Judging […]
Type: Bullish Bounce Key Levels:Resistance: 9.060Pivot: 8.125Support: 7.195 Preferred Case:On the H4, with prices moving above the ichimoku cloud and in an ascending trend channel, we have a bullish bias that price will rise from the pivot at 8.125 in line with the pullback support, 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st […]
• Philip Morris reversed from support area • Likely to rise to resistance level 96.70 Philip Morris recently reversed up from the support zone located between the pivotal support 88.40 (which has been reversing the price from the end of 2021), standing close to the lower weekly Bollinger Band and the 38.2% Fibonacci retracement of […]
• GBPCAD reversed from support area • Likely to rise to next resistance level 1.5560 GBPCAD currency pair recently reversed up from the support area lying between the key support 1.5355 (which stopped the previous impulse wave (i) in the middle of July) and the lower daily Bollinger Band. The upward reversal from this support […]
EURUSD, “Euro vs US Dollar” Having finished the first descending impulse at 1.0160 along with the correction up to 1.0222, EURUSD is forming another descending structure with the short-term target at 1.0075. After that, the instrument may correct to test 1.0160 from below and then resume moving within the downtrend to reach 1.0028. GBPUSD, “Great […]
BRENT In the H4 chart, Brent is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 1/8, break it, and then continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the asset breaks the […]
ECB in Focus Today Traders are bracing for the headline event of the week today, with the July ECB meeting due. The market is widely expecting the bank to hike rates by at least .25% today, in line with the bank’s own guidance. However, soaring inflation and hawkish commentary from some within the ECB, is […]
BOJ Sticks to Its Guns The Japanese Yen is back under pressure today following the July Bank of Japan meeting overnight. While the rest of the G10 is firmly embarking down a path of monetary tightening, with even the ECB set to tighten today, the BOJ continues to reaffirm its commitment to easing. BOJ governor […]