Category: Technial Analysis
GBPUSD priced in the decisions of the Bank of England, but barely moved anywhere. The Pound Sterling is balancing against the USD after the August meeting of the British regulator. The current quote for the instrument is 1.2164. The Bank of England had another meeting yesterday and raised the benchmark interest rate to 1.75% (+50 […]
Type: Bearish Drop Key Levels:Resistance: 141.125Pivot: 138.300Support: 135.900 Preferred Case:On the H4, with icpre moving along the ascending trendline and above ichimoku cloud, we have a bullish bias the price may rise from the pivot at 138.300, where the 78.6% fibonacci projection is to 1st resistance at 141.125, which is in line with the 78.6% […]
Type: Bullish Rise Key Levels:Resistance: 1.2286Pivot: 1.2161Support: 1.2047 Preferred Case:On the H4, with icpre moving along the ascending trendline and above ichimoku cloud , we have a bullish bias the price may rise from the pivot at 1.2161, where the 23.6% fibonacci retracement is to 1st resistance at 1.2286, which is in line with the […]
Type: Bullish Rise Key Levels:Resistance: 33432Pivot: 32602Support: 31864 Preferred Case:On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 32602 where the pullback support is to the 1st resistance at 33432 where the swing high resistance and -61.8% fibonacci expansion are. Alternative […]
Type: Bullish Rise Key Levels:Resistance: 3851Pivot: 3744Support: 3659 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 3744 where the pullback resistance, 78.6% fibonacci retracement and 161.8% fibonacci extension are. Once there is upside confirmation […]
• EURCAD reversed from support level 1.3025 • Likely to rise to resistance level 1.3200 EURCAD currency pair recently reversed up from the pivotal support level 1.3025 (which has been reversing the pair from the middle of July) – intersecting with the lower daily Bollinger Band. The upward reversal from the support level 1.3025 is […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is still trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to test 2/8, break it, and then continue falling towards the support at 1/8. However, this scenario may be […]
Type: Bullish Rise Key Levels:Resistance: 24310Pivot: 22535Support: 20730 Preferred Case:On the H4, with prices moving within an ascending channel and bouncing off the ichimoku cloud , we have a bullish bias that price will rise from the pivot at 22535 where the pullback support, 50% fibonacci retracement , 61.8% fibonacci projection and 61.8% fibonacci projection […]
Incoming data on the US economy continues to surprise on the upside, triggering massive unwinding of recession bets and luring investors back into risk assets on decreasing uncertainty. One such report was the ISM report on the non-manufacturing sector released yesterday which surprisingly showed that the sector continued to expand in July at a healthy […]
• WTI broke round support level 90.00 • Likely to fall to support level 85.00 WTI crude oil today broke below the key round support level 90.00 (which has been reversing the pair from the end of February). The breakout of the support level 90.00 accelerated the active impulse wave 5 of the intermediate impulse […]