Category: Technial Analysis

EURUSD, “Euro vs US Dollar” Having completed the descending wave at 1.0100 along with the correction up to 1.0220, EURUSD is forming a new consolidation range around the latter level. If later the price breaks the range to the downside, the market may start a new decline with the short-term target at 1.0000. GBPUSD, “Great […]

USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, USDCHF is 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 cancelled if the price breaks […]

Daily Market Outlook, July 28, 2022 Overnight Headlines Fed Raises Rates By 0.75 Points For Second Month In A Row US Expected To Dodge Technical Recession With Weak Q2 Growth Australia’s Retail Sales Cool As Rising Rates, Prices Take Toll Australia Cuts GDP Growth Outlook On Inflation, Higher Rates BoJ Dep Gov Amamiya: BoJ Needs […]

Type: Bullish Breakout Key Levels:Resistance: 1652.38Pivot: 1565.69Support: 1493.93 Preferred Case:On the H4, with price recently breaking out of the descending trendline, we have a bullish bias that price will continue to rise from the pivot at 1565.69 at the pullback support in line with the 38.2% fibonacci retracement to the 1st resistance at 1652.38 at […]

• EURGBP broke key support level 0.8400 • Likely to fall to support level 0.8350 EURGBP currency pair recently broke the key support level 0.8400 (which has been reversing the pair from the middle of May) intersecting with the 61.8% Fibonacci correction of the upward price move from April. The breakout of the support level […]

• AUDNZD reversed from resistance level 1.1165 • Likely to fall to support level 1.1100 AUDNZD currency pair recently reversed down from the pivotal resistance level 1.1165 (former strong resistance from the start of June). The downward reversal from the resistance level 1.1165 stopped the earlier minor impulse wave 3 – which belongs to the […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns close to the support level, such as Doji and Hammer, USDCAD may reverse in the form of another ascending impulse. In this case, the upside target may be the resistance area at 1.2920. Later, the market […]

EURUSD, “Euro vs US Dollar” EURUSD is 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 1.0145 and then resume moving upwards to reach 1.0450. Another signal in favour of a […]

Credit Agricole A second 75bp hike to curb inflation As widely expected, the Fed delivered a second 75bp rate hike in its fight against four-decade high inflation prints, taking the policy rate to 2.25-2.50% in a unanimous vote. FOMC officials remain “highly attentive” to inflation risks, maintaining a laser focus on returning inflation back to […]

Type: Bearish Breakout Key Levels:Resistance: 136.697Pivot: 134.516Support: 131.464 Preferred Case:On the H4, with price broken out of the ascending trendline and moving below the ichimoku indicator, we have a bearish bias that price will drop to our pivot at 134.516 where the swing low support, 61.8% fibonacci retracement, 78.6% fibonacci projection and 161.8% fibonacci extension […]