Category: Technial Analysis
GBPAUD Looking to Breakout Price action in GBPAUD is looking interesting here. The pair has been in range formation for months now, caught between support at 1.7218 and resistance at 1.7811. However, each test of the support level has been accompanied by growing bullish divergence in momentum studies. The pair is now once again testing […]
Daily Market Outlook, July 1, 2022 Overnight Headlines US Stocks Suffer Sharpest First-Half Drop In More Than 50 Years Q2 Earnings Concerns Weigh On Risk Sentiment Bitcoin Pares Jump Amid Dip Buying In Hope Of Better Second Half Oil Heads For Worst Run Of Losses This Year On Recession Concern McConnell Threatens China Bill Over […]
EURUSD remains weak; investors are in no hurry to buy. The major currency pair is looking weak on Friday. The current quote for the instrument is 1.0463. The inflation boost in the US spoiled investors’ moods pretty much. The Consumer Price Index in the US added 0.6% m/m in May after gaining 0.2% m/m in […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Shooting Star reversal pattern not far from the resistance area. At the moment, the asset may reverse in the form of a new descending impulse. In this case, the downside target may be the support level at 1785.50. […]
Oil Turns On a DimeThe final week of H1 comes to an end and it’s certainly been something of a finale for traders. We’ve seen plenty of action this week with a host of big moves and key developments across financial markets. Looking away from the FX space for a change, it seems that outside […]
Credit AgricoleCHF: no denying parity no more EUR/CHF dipped below parity yesterday for the first time since 7 March, as prior to that such levels had not been seen since January 2015 and the aftermath of the floor removal. Three months ago, the pair was quick to reverse higher as the SNB possibly lent a […]
Type: Bearish MomentumKey Levels:Resistance: 3.7128Pivot: 3.6479Support: 3.5419Preferred Case:On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 3.6479 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 3.5419 where the swing low support is.Alternative Scenario:Alternatively, price […]
Type: Bearish MomentumKey Levels:Resistance: 116.63Pivot: 113.89Support: 101.55Preferred Case:On the H4, with price recently breaking the ascending trend channel, we have a bearish bias that price will continue to drop from the pivot at 113.89 at the swing high in line with the 50% fibonacci retracement and 61.8% fibonacci projection to the 1st support at 101.55 […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to test break 2/8 and continue falling towards the support at 0/8. However, this scenario may be cancelled if the price […]
US Core PCE Up NextThe next key data focus for markets will be today’s US Core PCE data for May. On the back of Powell’s comments yesterday, where he downplayed recession fears and focused on the need to tame inflation, today’s data will be even more closely watched. With PCE the Fed’s preferred inflation input […]