Category: Technial Analysis

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Harami reversal pattern not far from the resistance area. At the moment, the asset is reversing in the form of a new descending impulse. In this case, the downside target may be the support level at 1815.00. At […]

USDJPY, “US Dollar vs. Japanese Yen” In the H4 chart, USDJPY is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if […]

The Bank of Canada is expected to hike interest rate by 50 basis points at the meeting today, but it cannot be ruled out that the BoC will go for a more aggressive step – a 75 bp increase. Elsewhere, incoming data pointing to resilience of the US economy and signs of upward pressure in […]

Amazon Shares Rallying on Stock Split NewsShare in US online retailer Amazon are rebounding firmly this week. Tech stocks have been among the strongest beneficiaries of the rebound in equities recently. Amazon shares are now trading back above the mid-May highs, following a bounce off the 2073.07. Shares in the tech giant have been buoyed […]

• GBPUSD reversed from key resistance level 1.2635• Likely to fall to support level 1,2400 GBPUSD recently reversed down from the key resistance level 1.2635 (which stopped wave (iv) at the start of May) – standing close to the 38.2% Fibonacci correction of the previous downward impulse 3 from March. The downward reversal from the […]

• FTSE 100 reversed from long-term resistance level 7630.00• Likely to fall to support level 7400.00 FTSE 100 index recently reversed down from the long-term resistance level 7630.00 (which has been repeatedly reversing the index from January, as can be seen below). The downward reversal from the resistance level 7630.00 stopped the previous minor corrective […]

EURUSD, “Euro vs US Dollar” As we can see in the daily chart, having completed the ascending correctional structure within the third descending wave at 1.0760, EURUSD is expected to test this level from below and then resume trading downwards with the short-term target at 1.0222. GBPUSD, “Great Britain Pound vs US Dollar” In the […]

EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the bearish channel’s upside border. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0630 and then resume moving upwards to reach 1.0990. Another signal in favour of […]

Oil prices rose during trading today, Wednesday, June 1, 2022, after European Union leaders agreed on a partial and gradual ban on Russian oil, coinciding with China ending its closure due to Covid-19 in Shanghai. Oil prices had concluded yesterday’s session, amid volatile trading; US crude turned lower, while Brent crude rose near $123. Oil […]

Type: Bullish ContinuationKey Levels:Resistance: 801.30Pivot: 783.50 Support: 764.45Preferred Case:On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will continue to rise from the pivot at 783.50 in line with the overlap support to the resistance at 801.30 in line with the 61.8% fibonacci retracement and 78.6% […]