Category: Technial Analysis
Daily Market Outlook, May 20, 2022 Overnight Headlines Fed Set On Half-Point Hikes, Undeterred By Stock Slump Fed’s Kashkari: Strong Finances Could Mean More To Do Labour Market In Focus Jobless Claims Hit 4-Month High Sec Yellen Reject Idea Of Fed Raising 2% Inflation Target White House Believe Biden, Xi To Talk In Coming Weeks […]
• Costco falling inside impulse waves 5 and (C)• Likely to reach support level 400.00 Costco continues to fall inside the sharp downward impulse waves 5 and (C), which previously broke through the two strong support levels 470.00 (January’s low) and 435.00 (October Low). The breakout of these support levels added to the bearish pressure […]
Type: Bullish BounceKey Levels:Resistance: 1679’2Pivot: 1662’2Support: 1650’2Preferred Case:With price bouncing off our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 1679’2 in line with the swing high resistance from our pivot of 1662’2 in line with the horizontal overlap support and 61.8% Fibonacci retracement .Alternative Scenario:Alternatively, […]
Type: Bullish BounceKey Levels:Resistance: 222.25Pivot: 216.00Support: 210.80Preferred Case:With price bouncing off our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 222.25 in line with the horizontal pullback resistance from our pivot of 216.00 in line with the horizontal overlap support and 78.60% Fibonacci retracement .Alternative Scenario:Alternatively, […]
EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0460, EURUSD is expected to correct up to 1.0515. Later, the market may fall to break 1.0440 and then continue trading downwards with the target at 1.0373 or even extend this structure down to 1.0300. GBPUSD, “Great Britain Pound vs US Dollar” Having completed […]
S&P On The Cliff EdgePrice action in the ES (Emini S&P futures) is looking very interesting to the short side here. Yesterday’s large outside candle holds the potential to drive a fresh phase of weakness in the index. Following the initial downside break of the bear channel, the subsequent correction ran into heavy selling and […]
Type: Bullish BounceKey Levels:Resistance: 648’1Pivot: 633’1Support: 626’0Preferred Case:With price moving above our Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 648’1 in line with the horizontal pullback resistance and 61.8% Fibonacci projection from our pivot of 633’1 in line with the 38.2% Fibonacci retracement and horizontal […]
• AUDCHF reversed from support area• Likely to rise to resistance level 0.6900 AUDCHF today reversed up from the support area lying at the intersection of the support level 0.6835 (former resistance from March, acting as support now) and the lower daily Bollinger Band. This support area was further strengthened by the 38.2% Fibonacci correction […]
• GBPCHF reversed from key support level 1.2100• Likely to rise to resistance level 1.2200 GBPCHF today reversed up with the daily Long-Legged Doji from the key support level 1.2100 (which has been steadily reversing the pair from the start of March). The support zone near the support level 1.2100 was strengthened by the lower […]
AUDUSD is slowly moving close to its local lows – the asset still hopes for a recovery. The Australian Dollar is trying to rise against the USD on Thursday. the current quote for the instrument is 0.6966. The statistics published by Australia in the morning showed that the Unemployment Rate in the country dropped to […]