Category: Technial Analysis
EURUSD, “Euro vs US Dollar” Having finished the correctional wave at 1.1380, EURUSD is expected to form one more ascending structure to break 1.1435 and then continue trading upwards with the target at 1.1495. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed the correctional wave at 1.3620. Possibly, today the pair may resume […]
Type: Bearish ReversalKey Levels:Resistance: 1.15137Pivot: 1.14603Support: 1.13846Preferred Case:With price approaching the resistance of the stochastics indicator, we are bias that price will drop from our pivot at 1.14603 in line with the 161.8% Fibonacci extension and swing high resistance to 1st support at 1.13846 in line with 38.2% Fibonacci retracement and horizontal overlap support.Alternative Scenario:Alternatively, […]
Type: Bullish BounceKey Levels:Resistance: 0.72717Pivot: 0.71951Support: 0.71281Preferred Case:With price moving above the Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 0.72717 which is in line with horizontal overlap resistance and 61.8% Fibonacci retracement from pivot at 0.71951, which is in line with horizontal overlap support and […]
In this Weekly Market Outlook 17-01-22, our analyst looks into the trading week ahead, possible market moving data releases across the globe and the technical analysis to accompany it! Source: Tickmill
CitiEuropean OpenIt was a busier morning today, despite the US MLK holiday, with FX volumes up to 30% more than averages, according to our etraders. The highlight in the Asian session was the 10bps cut in the MLF rate by PBoC, alongside a mixed bag of data from China. FX markets, including CNH were little […]
EURUSD, “Euro vs US Dollar” In the H4 chart, after rebounding from the resistance at 8/8, EURUSD is trading downwards. In this case, the price is expected to test 7/8, rebound from it, and then resume falling to reach the support at 5/8. Still, this scenario may no longer be valid if the price breaks […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Engulfing, close to the support level, USDCAD is reversing and may form a new correctional impulse. In this case, the upside target may be the resistance area at 1.2605. However, an alternative scenario implies that […]
USDCAD Testing Channel LowThe sell off in USDCAD over the last week has seen price breaking below key support at the 1.2643 level trading down as far as a test of the 1.2469 level, with the bull channel low sitting just beneath. While price is holding the initial test of this support zone, sentiment remains […]
Metals Looking To Move Higher On USD RetreatThe metals complex has started the week with a bid tone as both gold and silver attempt to trade to the upside here. Relatively speaking, price actions remains fairly muted for now and with the US markets offline for the MLK holiday, flows are likely to remain light […]
• USDJPY reversed from support level 113.50 • Likely to rise to resistance level 115.00 USDJPY currency pair recently reversed up with the clearly formed daily Hammer from the support level 113.50 (which has been reversing the price from October), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 113.50 […]
