Category: Technial Analysis

EURUSD is recovering after plunging the day before.  The major currency pair reached stability after yesterday’s decline. The current quote for the instrument is 1.0188. The Markit Services PMI in the US showed 47.3 points in July against the expected reading of 47.0 points. No matter what, the indicator remains below the psychologically important level […]

Type: Bullish Bounce Key Levels:Resistance: 24208.23Pivot: 22483.11 Support: 20703.19 Preferred Case:On the H4, with price moving within a bullish channel and expected to bounce from the stochastic support, we have a bullish bias that price will rise from our pivot at 22483.11 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are to […]

Daily Market Outlook, August 4, 2022 Overnight Headlines Bank Of England On Precipice Of Largest Rate Hike Since 1995 Fed’s Kashkari: Very Unlikely Will Cut Interest Rates Next Year Taiwan Braces For Impact From China Military Post Pelosi Trip White House Lobbies Dems Against Aims Deepen Taiwan Ties China Locks Down Part Of Tropical Tourist […]

Type: Bullish Rise Key Levels:Resistance: 33432Pivot: 32504Support: 31864 Preferred Case:On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise to our pivot at 32504 where the pullback resistance is. Once there is upside confirmation of price breaking pivot structure, we would […]

Daily Market Outlook, August 3, 2022 Overnight Headlines White House Aim To Calm Tensions Over Pelosi Taiwan Visit Pelosi Vows US Won’t Abandon Taiwan In Faces Of Pressure Fed’s Bullard: Can Slow Inflation Without Sparking Recession Fed’s Mester: More Work To Do As Inflation Not Yet Peaked China Imposes Taiwan Economic Curbs With Sand, Fruit […]

EURUSD, “Euro vs US Dollar” EURUSD continues testing the bearish channel’s upside border. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0160 and then resume moving upwards to reach 1.0450. Another signal in favour of a […]

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 4/8, break it, and then continue falling and reach 3/8. However, this scenario may no longer […]

Type: Bullish Rise Key Levels:Resistance: 3.5915Pivot: 3.4685Support: 3.3710 Preferred Case:On the H4, with price breaking the descending channel, we have a bullish bias that price will rise from our pivot at 3.4685 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 3.5915 where the swing high resistance is. Alternative Scenario:Alternatively, […]

Type: Bullish Rise Key Levels:Resistance: 13814Pivot: 13348Support: 13004 Preferred Case:On the H4, with price moving along an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 13348 in line with overlap support to the 1st resistance at 13814 where the 61.8% fibonacci retracement , […]

After five trading sessions of declining, the BTC managed to reach stability and is even trying to grow a bit. The asset is mostly fluctuating at $23,412. There isn’t too much activity in the cryptocurrency. It could be explained by controversial external background, investors’ concerns about geopolitics, and so on. However, the fact is: the […]