Category: Technial Analysis
Oil prices rise 3% .. and Brent crude is near 104 dollars Oil prices rose nearly 3% during Monday’s trading, supported by a weak dollar and tight supplies. Prices continued to gain, offsetting concerns about a recession and the possibility of a widespread coronavirus shutdown in China; Which again led to reduced demand for fuel. […]
Last week was marked by highly volatile expectations regarding the FOMC July decision: after release of the CPI for June, which showed inflation accelerating to 9.1%, the chances of a 100 bp rate hike soared to 84%, but already on Friday, the retail sales report and inflation expectations from U. Michigan again made 75 bp […]
Type: Bullish Rise Key Levels:Resistance: 25375Pivot: 22500Support: 18880 Preferred Case:On the H4, with prices moving above the ichimoku cloud , we have a bullish bias that price will rise to the pivot at 22500 in line with the swing high resistance and 100% fibonacci projection . Once there is upside confirmation of price breaking pivot […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the resistance area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0125 and then resume moving downwards to reach 0.9845. Another signal in favour of a further downtrend […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Long-Legged Doji reversal pattern close to the resistance area. At the moment, EURUSD may reverse in the form of another descending impulse. In this case, the downside target may be at 0.9950. However, an alternative scenario implies […]
Well, we’re getting nicely into the summer months now but trading is far from the typical quiet action we see over the summer. This week we’ve had plenty of noteworthy moves once again and, talking with traders ahead of the weekend, it seems the big move everyone is focused on is the breakout in the […]
Type: Bearish Momentum Key Levels:Resistance: 823’4Pivot: 786’4Support: 736’7 Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to the pivot at 786’4 where the swing low support and 100% fibonacci projection are. Once there is downside confirmation of price breaking pivot structure, we would […]
Retail Sales Up Next On the back of Wednesday’s feverish US inflation report and subsequent hawkish comments from Fed’s Waller yesterday, traders are now keenly awaiting the release of US June retail sales later today. Given its role in calculating overall GDP, retail sales are a vital indicator of the health of the economy and, […]
Type: Bearish Momentum Key Levels:Resistance: 0.77305Pivot: 0.76450Support: 0.75615 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 rise and drop from the pivot at 0.76450 where the overlap resistance, 50% fibonacci retracement and 100% fibonacci projection are to the […]
Type: Bullish Rise Key Levels:Resistance: 13373Pivot: 12616Support: 12383 Preferred Case:On the H4, with price moving in an ascending trendline on the RSI and price recently breaking the descending trendline, we have a bullish bias that price will rise from the pivot at 12616 at the pullback support at the swing low in line with the […]