Category: Technial Analysis
Type: Bullish RiseKey Levels:Resistance:322.8Pivot:317.7Support:313.65Preferred Case:On the H1, price is moving above the ichimoku cloud and has broken out of the descending trendline which supports our bullish bias that price will rise from the pivot at 317.7 where the pullback support is to the 1st resistance at 322.8 in line with the swing high resistance, 61.8% […]
AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 0/8. However, this scenario may no longer […]
EURUSD, “Euro vs US Dollar” After expanding the consolidation range up to 1.0545, EURUSD is forming a new descending structure to test 1.0490 from above. Later, the market may start another growth to reach 1.0620 and then resume falling with the target at 1.0447, or even extend this structure down to 1.0270. GBPUSD, “Great Britain […]
Type:Bearish DropKey Levels:Resistance: 8811Pivot: 8648Support: 7989Preferred Case:On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 8648 in line with the pullback resistance and 23.6% fibonacci retracement to the 1st support at 7989 in line with the overlap support and 161.8% fibonacci […]
Type:Bullish RiseKey Levels:Resistance: 800’0Pivot: 782’2Support: 770’6Preferred Case:On the H1, price is moving above the ichimoku cloud and within the ascending channel which supports our bullish bias that price will rise from the pivot at 782’2 where the overlap support, 78.6% fibonacci projection and 50% fibonacci retracement are to the 1st resistance at 800’0 in line […]
EURUSD, “Euro vs US Dollar” On H4, the quotes of EURUSD are under the 200-days Moving Average, which indicates the prevalence of a downtrend. Currently, we should expect a test of 4/8, a breakaway of it, and a decline to the support level of 2/8. The scenario can be cancelled by a breakaway of 5/8 […]
GBPNZD Level on WatchPrice action in GBPNZD is looking interesting here to the short side. The pair had been grinding higher in a corrective structure over the recovery off the 2022 lows. However, recently, price looks to have carved out a double top formation (DT, lower high) against the 1.9651 level. With this in mind, […]
Type:Bearish dropKey Levels:Resistance: 26900Pivot: 26110Support: 24830Preferred Case:on the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will drop from the pivot at 26110 in line with the 100% fibonacci projection and overlap support to the 1st support at 24830 in line with the horizontal swing low.Alternative Scenario:alternatively, […]
XAUUSD, “Gold vs US Dollar” At a pullback, gold has formed a Hammer reversal pattern. Going by the pattern, the pair got into an ascending impulse. The goal for further growth might be the resistance level at 1858.00. However, the shares might drop to 1830.50 without pulling back to the resistance level. NZDUSD, “New Zealand […]
EURUSD, “Euro vs US Dollar” The pair is forming a consolidation range around 1.0500. With an escape upwards, the correction might continue to 1.0620, followed by a decline to 1.0220. With an escape downwards, a pathway directly to 1.0220 will open. GBPUSD, “Great Britain Pound vs US Dollar” The pair is forming a consolidation range […]