Category: Technial Analysis
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed an Inverted Hammer reversal pattern close to the support area. At the moment, EURUSD may reverse in the form of another ascending impulse. In this case, the upside target may be at 1.0135. However, an alternative scenario implies […]
BofA USD has all bases covered All roads continue to lead to the dollar as the USD index broke to new cyclical highs this week. The depth of USD buying has been indiscriminate this year with only CAD exhibiting some semblance of composure through 2022. But what strikes us about the dollar’s performance this year […]
Daily Market Outlook, July 13, 2022 Overnight Headlines IMF Cuts US 2022 GDP Growth Forecast To 2.3% VS June Est. 2.9% EURUSD Clings To Parity As Markets Await U.S. Inflation Data Twitter Sues To Force Tesla CEO Elon Musk To Complete $44bn Deal New Zealand Hikes Rate By Half-Point, Signals More Tightening Bank Of Korea […]
Type: Bearish Momentum Key Levels:Resistance: 3.6525Pivot: 3.5009Support: 3.1892 Preferred Case:On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 3.5009 in line with the overlap resistance to the 1st support at 3.1892 where the 61.8% […]
Type: Bearish Reversal Key Levels:Resistance: 0.61959Pivot: 0.61082Support: 0.60072 Preferred Case:On the H4, with price moving below the ichimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the pivot at 0.61082 in line with the 127.2% fibonacci extension to the 1st support at 0.60072 in line […]
EURUSD, “Euro vs US Dollar” EURUSD is still falling with the target at 0.9975. Possibly, today the pair may reach 0.9994 and then start a new correction up to 1.0094. Later, the market may resume trading downwards to reach the above-mentioned target. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD continues falling towards 1.1800. After […]
Type: Bearish Momentum Key Levels:Resistance: 1.1953Pivot: 1.1895Support: 1.1783 Preferred Case:On the H1, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 1.1895 in line with the pullback resistance to the 1st support at 1.1783 where the 161.8% […]
Type: Bearish Momentum Key Levels:Resistance: 105.23Pivot: 101.59Support: 95.13 Preferred Case:On the H4, with price moving below the ichimoku cloud and within the descending channel , we have a bearish bias that price will drop from the pivot at 101.59 in line with the pullback support to the 1st support at 95.13 where the 61.8% fibonacci […]
• AUDCAD reversed from key support level 0.8750 • Likely to rise to resistance level 0.8900 AUDCAD currency pair recently reversed up from the key support level 0.8750 (low of the previous minor impulse wave (i) from the end of last month), intersecting with the lower daily Bollinger Band. The upward reversal from the support […]
• USDCAD reversed from resistance level 1.3055 • Likely to fall to support level 1.2950 USDCAD currency pair recently reversed down from the pivotal resistance level 1.3055 (which has been repeatedly reversing the pair from the start of May, as can be seen below). The resistance area near the resistance level 1.3055 was strengthened by […]