Category: Technial Analysis

Type: Bullish Bounce Key Levels:Resistance: 120’30’5Pivot: 118’07’0Support: 116’17’0 Preferred Case:On the H4, with price moving in an ascending trend channel and moving above the ichimoku cloud , we have a bullish bias that price will bounce off the pivot at 118’07’0 in line with the overlap support to the 1st resistance at 120’30’5 at the […]

• EURCAD reversed from major support level 1.3020 • Likely to rise to resistance level 1.3200 EURCAD recently reversed up from the major long-term support level 1.3020 (former multi-year low from the middle of 2015), standing outside of the lower weekly Bollinger band. The upward reversal from the support level 1.3020 is likely to form […]

EURUSD, “Euro vs US Dollar” EURUSD has finished the descending wave at 0.9997 along with the correction up to 1.0121. Possibly, today the pair may form a new descending structure towards 0.9975 and then start another correction with the target at 1.0220. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is consolidating around 1.1878 and […]

Type: Bearish Momentum Key Levels:Resistance: 0.007362Pivot: 0.007296Support: 0.007126 Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trend channel and trendline, we have a bearish bias that price will continue to drop from the pivot at 0.007296 in line with the pullback resistance, 61.8% fibonacci projection and -27.2% fibonacci […]

Type: Bearish Momentum Key Levels:Resistance: 3.7979Pivot: 3.5345Support: 3.1892 Preferred Case:On the H4, with RSI moving along the descending trendline and price moving along the descending trendline, we have a bearish bias that price will drop to the pivot at 3.5345 where the 61.8% fibonacci retracement and pullback support are. Once there is downside confirmation of […]

• Gold broke pivotal support level 1725.00 • Likely to fall to support level 1684.00 Gold recently broke below the pivotal support level 1725.00 (former multi-month support from last September). The breakout of the support level 1725.00 is aligned with the clear downtrend that can be seen on the daily charts. Gold can be expected […]

• Citibank under bearish pressure • Likely to fall to support level 42.00 Citibank under the bearish pressure after the price broke below the strong support level 45.25 (which has been steadily reversing the price from the middle of May). The breakout of the support level 45.25 should accelerate the active minor impulse wave (iii) […]

EURUSD, “Euro vs US Dollar” EURUSD is testing the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen, at 1.0055 and then resume moving downwards to reach 0.9765. Another signal in favour of a further downtrend will be a […]

EURUSD is balancing close to parity; the Euro enthusiasts are “holding the fort”. The major currency air is still looking weak. The current quote for the instrument is 1.0022. At some point during the day EURUSD is hitting news lows – the latest one is at 0.9996. Most likely, the asset will drop much lower, […]

Deutsche Bank (Germany’s bank) warned that the aggravation of the gas crisis in Germany may prompt citizens to return to using wood for heating to face the severe cold during the coming winter. According to analysts’ warnings, some homes will have to burn wood for heating instead of gas, as Russia continues to cut supplies, […]