Category: Technial Analysis
On Monday, the dollar continued to retreat on all fronts, but moderate optimism in the stock market suggests that the sell-off of the dollar is not caused by a quick recovery in risk demand, but by lowered expectations that US assets will best protect against stagflation risks. In light of the Fed’s intransigent stance on […]
Type: Bearish ContinuationKey Levels:Resistance: 103.235Pivot: 102.830Support: 102.370Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop to our support in line with the horizontal swing low support and 78.6% fibonacci projection from our pivot in line with the horizontal pullback resistance.Alternative Scenario: Alternatively, price may break pivot structure […]
EURUSD, “Euro vs US Dollar” EURUSD is consolidating around 1.0566. Possibly, today the pair may expand the range up to 1.0610 and then resume falling to break 1.0530. Later, the market may continue trading downwards with the target at 1.0303. GBPUSD, “Great Britain Pound vs US Dollar” Having completed the ascending structure at 1.2550, GBPUSD […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. Still, this scenario may no longer […]
Metals Rise As USD Weakness ContinuesIt’s been a much better opening for metals traders this week. With the greenback still under selling pressure today, gold and silver prices are continuing their recent recover run higher. Gold is now trading around 4% higher from last week’s lows with silver prices around 8% higher. While the US […]
Type: Bearish ContinuationKey Levels:Resistance: 3986Pivot: 3944Intermediary Support: 3860Support : 3831Preferred Case:With price within the Ichimoku cloud resistance, we have a bearish bias that price will drop to our support in line with the horizontal swing low support and 78.6% Fibonacci projection from our pivot in line with the horizontal swing high resistance and 50% Fibonacci […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.0675. However, an alternative scenario implies […]
GBPUSD is keeping its positive momentum and trying to get back to balance. The Pound sterling is moving away from its local lows against the USD. The current quote for the instrument is 1.2552. The statistics published last Friday showed that the Retail Sales in the United Kingdom gained 1.4% m/m in April after losing […]
Gold prices rose in trading on Monday to its highest level in more than a week, supported by the weakness of the dollar. The rise in gold prices came despite higher US Treasury yields, which limited gains in dollar-denominated bullion. Gold prices today The price of gold futures contracts – for delivery next August – […]
Oil prices rose about 1% during trading on Monday, with the increase in demand in the United States for fuel and the scarcity of supply. This comes as Shanghai, the economic capital of China, is happy to reopen its doors after a two-month closure; This has raised concerns about a sharp slowdown in growth. This […]