Category: Technial Analysis
The major currency pair is looking weak on Friday. The current quote for the instrument is 1.0530. During his second day of reporting in US Congress, the US ed Chairman Jerome Powell described the American labour market as strong and admitted that it might remain strong if inflation was kept under control. The regulator has […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Harami reversal pattern close to the support level, USDCAD may reverse in the form of another ascending impulse. In this case, the upside target may be the resistance area at 1.3095. Later, the market may break this level […]
Daily Market Outlook, June 24, 2022 Overnight Headlines Asian Equity Markets Broadly Higher; US And EU Futures Also Rise UK Conservatives Lose Key District In Major Blow To PM Johnson UK Consumer Confidence Falls To Lowest Since Records Began Powell Hammers Home Unconditional’ Commitment To Cool Prices Fed’s Bowman Backs Raising Funds Rate By 75 […]
Type: Bullish Breakout Key Levels:Resistance: 4202.25 Pivot: 3827.75 Support: 3654.00Preference: On the H4, with price moving in an ascending trend channel, we have a bullish bias that price will rise from the pivot at 3827.75 in line with the pullback support, 38.2% fibonacci retracement and 61.8% fibonacci projection to the 1st resistance at 4202.25 in […]
Type : Bearish DropKey Levels:Resistance : 1.2335 Pivot: 1.2181 Support : 1.1950 Preferred Case: On the H1, price is moving below the ichimoku cloud and has recently broken out from the ascending trendline which gives us a bearish bias that prices will drop to the pivot at 1.2181 where the 100% fibonacci projection , 50% […]
BofA Crypto Flows to knowAccording to a report by BofA Digital asset’s bearish positioning persists: Investors are continuing to position defensively following last year’s liquidity-driven digital asset bull market. Although painful, removing the sector’s froth is likely healthy as investors shift focus to projects with clear road maps to cash flow and profitability vs purely […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading inside the “oversold area”. In this case, the pair is expected to test -1/8, break it, and then continue growing to reach the resistance at 0/8. However, this scenario may be cancelled if the price breaks the support […]
Type : Bearish DropKey Levels:Resistance : 0.77455 Pivot: 0.76955 Support : 0.76460 Preferred Case: On the H1, price is moving below the ichimoku cloud and along the descending trendline which gives us a bearish bias that prices will drop to the pivot at 0.76955 where the 50% fibonacci retracement and swing low support are. Once […]
Type : Bullish RiseKey Levels:Resistance : 51792 Pivot: 51152 Support : 50529 Preferred Case: On the H1, price is moving above the ichimoku cloud and has broken out from descending trendline which supports our bullish bias that price will rise to the pivot at 51152 where the swing high resistance, 78.6% fibonacci projection and 61.8% […]
GBPUSD is falling – railway workers and teachers are on strike. The Pound sterling is back to falling against the USD. The current quote for the instrument is 1.2203. The statistics published yesterday showed that the Consumer Price Index in the United Kingdom was 9.1% y/y in May, the same as expected, after being 9.0% […]