Category: Technial Analysis
• 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 […]
Type: Bullish Momentum Key Levels: Resistance: 12599.75Pivot: 12270.00Support: 12106.25 Preferred Case:On the H4, with price moving in an ascending trend channel, we have a bullish bias that price will continue to rise from the pivot at 12270.00 at the pullback resistance to the 1st resistance at 12599.75 at the swing high in line with the […]
Type: Bullish Rise Key Levels:Resistance: 0.69555Pivot: 0.68620Support: 0.68100 Preferred Case:On the H4, with prices moving above the ichimoku indicator and breaking out of the descending channel , we have a bullish bias that price will rise from the pivot at 0.69295 where the overlap support is. If price breaks above the intermediate resistance at 0.69830 […]
Type: Bullish Rise Key Levels:Resistance: 891.7Pivot: 870.5Support: 850.3 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 to the pivot at 870.5 where the pullback resistance is. Once there is upside confirmation that price has broken the pivot , […]
Type: Bullish Rise Key Levels:Resistance: 131’06’0Pivot: 130’00’0Support: 128’12’0 Preferred Case:On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 130’00’0 where the pullback resistance is. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum […]