Category: Technial Analysis

Type: Bearish Breakout Key Levels:Resistance: 1738.4Pivot: 1721.1 Support: 1679.3 Preferred Case:On the H4, with price moving within a descending channel and RSI moving in a descending trendline, we have a bearish bias that price will drop from pivot at 1721.1 where the pullback resistance is to 1st support at 1679.3 in line with 100% fibonacci […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after forming a Shooting Star reversal pattern close to the resistance area, the asset is moving sideways. At the moment, EURUSD may reverse in the form of another descending impulse. In this case, the downside target may be at 1.0110. However, an […]

EURUSD, “Euro vs US Dollar” EURUSD is testing Tenkan-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0205 and then resume moving upwards to reach 1.0505. Another signal in favour of a further uptrend will be a rebound from […]

Societe Generale Focus switches to the US, even if there’s a very strong consensus about what the FOMC will decide on Wednesday. After a week in which the market was more focused on the ECB, Italy and natural gas flows from Russian to Germany, than anything happening elsewhere, attention switches back to the US – […]

Daily Market Outlook, July 26, 2022 Overnight Headlines Stock Bulls Deluded By ‘Wishful Thinking,’ Morgan Stanley Warns Coinbase Faces SEC Investigation Over Cryptocurrency Listings BoJ Board Agreed On Need For Ultra-Low Rates: June Meeting Minutes RBA’s Harper: Australia’s Economy Robust, Can Withstand Hikes Korea’s Economy Accelerates, Giving Scope To Keep Raising Rates Dollar Near Recent […]

• WTI reversed from support area • Likely to rise to resistance level 100.00 WTI crude oil currency pair recently reversed up from the support area located between the key support level 93.40 (which has been reversing the pair from March) and the 50% Fibonacci retracement of the upward trend from December. The upward reversal […]

• CADJPY reversed from support area • Likely to rise to resistance level 107.40 CADJPY currency pair recently reversed up from the support area located between the key support level 105.00, support trendline from June, 20-day moving average and the 61.8% Fibonacci correction of the earlier upward impulse from the start of July. The upward […]

Type: Bullish Rise Key Levels:Resistance: 32496Pivot: 31855Support: 31475 Preferred Case:On the H4, with prices moving above the ichimoku indicator and having broken the descending trendline, we have a bullish bias that price will rise from the pivot at 31855 where the pullback support is to the 1st resistance at 32496 where the pullback resistance, 78.6% […]

Another Leg Lower for Gas? Following a strong start to the year, gasoline futures have seen a sharp correction lower over recent weeks. The market has shed around 30% from the early June highs, trading from 4.3588 down to around 3.0590 currently. The driver behind the move has been the combination of tighter Fed rates, […]

Type: Bullish Rise Key Levels:Resistance: 0.77970Pivot: 0.77300Support: 0.76465 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 0.77300 where the overlap support is to the 1st resistance at 0.77970 where the swing high resistance is. […]