Category: Technial Analysis
BRENT As we can see 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 […]
Type: Bearish Momentum Key Levels:Resistance: 136.42Pivot: 135.00Support: 133.53 Preferred Case:On the H4, since price has broken out of an ascending trendline and is moving below the ichimoku indicator, we have a bearish bias that price will drop from the pivot at 135.00 where the pullback resistance is to 1st support at 133.53 in line with […]
Type: Bullish Rise Key Levels:Resistance: 0.63185Pivot: 0.62470Support: 0.61850 Preferred Case:On the H4, with prices moving within an ascending channel, RSI moving in an ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 0.62490 where the overlap support is to the 1st resistance at 0.63825 […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support area, EURUSD may reverse in the form of another ascending impulse. In this case, the upside target may be at 1.0290. However, an alternative scenario implies that the price may fall to […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is growing within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.2140 and then resume moving upwards to reach 1.2410. Another signal in favour of a further uptrend […]
Type: Bearish Momentum Key Levels:Resistance: 1.04235Pivot: 1.01325 Support: 1.00015 Preferred Case:On the H4, with price bouncing off the ichimoku cloud and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 1.01325 at the overlap resistance in line with the 61.8% fibonacci retracement. If price […]
Type: Bullish Momentum Key Levels:Resistance: 0.007487Pivot: 0.007400Support: 0.007309 Preferred Case:On the H4, with price moving above the ichimoku cloud and in an ascending trend channel and RSI showing an ascending trendline, we have a bullish bias that price will continue to rise from the pivot at 0.007400 in line with the pullback resistance to the […]
US equities rose, and the near end of the yield curve fell following the Fed meeting (2-year Notes 3.1% -> 2.99%), as the Fed rhetoric began to shift from high inflation to a potential economic slowdown due to policy tightening. Recall that in May and June, the comments of the Fed officials, including chair Powell, […]
Type: Bullish Rise Key Levels:Resistance: 25360Pivot: 22500Support: 20750 Preferred Case:On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 22500 where the pullback support is to the intermediate resistance at 24275 in line with swing high resistance […]
• GBPCHF broke daily down channel • Likely to rise to resistance level 1.1770 GBPCHF continues to rise after the earlier breakout of the resistance trendline of the daily down channel from the start of July – which accelerated the active correction (iv). The breakout of the down channel follows the earlier upward reversal from […]