Category: Technial Analysis
EUR Lower Following ECB Yesterday’s July ECB meeting saw a muted response in EUR. While the ECB pushed ahead with the larger-than-expected .5% rate hike, the bank’s accompanying guidance was less hawkish than previously. On the back of the meeting, traders have scaled back their rate-hike expectations for the remainder of the year. The ECB […]
European equities ended the week on a positive note despite higher-than-expected interest rate hike from the European Central Bank and disappointing survey data on activity in German manufacturing and services sectors. The ECB raised interest rates to zero percent on Thursday for the first time in 11 years, ending a negative interest rate policy in […]
Type: Bearish Breakout Key Levels:Resistance: 0.9737 Pivot: 0.96575Support: 0.95793 Preferred Case:On the H4, with price moving within the descending channel and below the ichimoku indicator, we have a bearish bias that price will drop to our pivot at 0.96575 where the swing low support and 61.8% fibonacci retracement are. Once there is downside confirmation of […]
BTC Rallies on Weaker USD The pull-back in the US Dollar this week has benefited risk assets across the board and cryptocurrencies have been a reflection of this. Bitcoin traded up to its highest level since early June, fuelling hopes of a near-term bottom. The driver behind the move has been the shift in market […]
Type: Bullish Rise Key Levels:Resistance: 0.63185Pivot: 0.62505Support: 0.61850 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 0.62505 where the overlap resistance is. Once there is upside confirmation that price has broken the pivot , […]
Type: Bullish Rise Key Levels:Resistance: 1.2184Pivot: 1.20611stSupport: 1.19552nd Support : 1.1778 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 1.2061 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside […]
Type: Bullish Rise Key Levels:Resistance: 13873Pivot: 13357Support: 12968 Preferred Case:On the H4, with price moving in an ascending trendline, moving above the ichimoku cloud and price recently breaking the descending trendline, we have a bullish bias that price will rise from the pivot at 13357 at the pullback support at the swing low in line […]
• Gold reversed from support area • Likely to rise to next resistance level 1759.00 Gold recently reversed up from the support area lying between the key support level 1685.60 (which has been reversing the price from the start of April) and the lower weekly Bollinger Band. The upward reversal from this support area stopped […]
The EURUSD bounce on the surprising 50 bp rate hike from the ECB proved to be short-lived indicating that investors probably prefer to focus on fundamentals, other than the rate differential with the Fed. The pair erased gains made after the ECB meeting and moved lower on Friday, finding some support at 1.015 level. Judging […]
Type: Bullish Bounce Key Levels:Resistance: 9.060Pivot: 8.125Support: 7.195 Preferred Case:On the H4, with prices moving above the ichimoku cloud and in an ascending trend channel, we have a bullish bias that price will rise from the pivot at 8.125 in line with the pullback support, 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st […]