Category: Technial Analysis
GBPAUD On WatchPrice action in GBPAUD is starting to look interesting here to the long side. Following the failed breakdown below 1.7218, with price instead reversing higher from a strong double-bottom formation, the pair is now holding in a tight block of consolidation, capped by the 1.7811 level. The retail long position has shrunk significantly […]
EURUSD, “Euro vs US Dollar” After finishing the ascending wave at 1.0412 and then forming a new consolidation range around this level, EURUSD has broken it to the upside to extend the correction up to 1.0562; right now, it is forming the first descending impulse towards 1.0495. Later, the market may break this level and […]
Type: Bullish BounceKey Levels:Resistance: 225.40Pivot: 221.95Support: 219.75Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 225.40 in line with the horizontal swing high resistance from our pivot of 221.95 in line with the 23.60% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price […]
UK Labour Data Improves AgainThe British Pound is back in favour this week following a bumper set of labour market indicators this morning. UK wages were seen rising by 7% over the three months ending in March, marking their fastest pace of growth since summer 2021. Alongside this, the unemployment rate was seen falling back […]
Type: Bullish BounceKey Levels:Resistance: 633’6Pivot: 626’2Support: 615’0Preferred Case:With price moving above our Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 633’6 in line with the horizontal pullback resistance from our pivot of 626’2 in line with the 61.80% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price may […]
US Retail Sales Up NextThe main data focus for today’s US session will be US retail sales for April. The market is looking for retail activity to have slowed last month. Forecasts call for headline retail sales to improve to 1% from 0.5% prior, while the core reading is expected to have fallen back to […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting within the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2365 and then resume moving downwards to reach 1.1945 Another signal in favour of […]
Fed Bullard predicts that US growth will remain above trend due to strong consumption. The U.S. economy is likely to continue growing at an above-trend pace for at least the next 18 months, and households are likely to continue spending as the influence of the pandemic fades, St. Louis Fed president James Bullard said on […]
Gold prices rose, today, Tuesday, May 17, with the dollar’s decline, after previous pressures that led to the decline of the yellow metal with the recovery of US Treasury bond yields. The dollar is struggling to make gains after falling from nearly 20-year highs, while a weakening Chinese yuan found a floor as investors scaled […]
• Natural gas reversed from support level 6.500• Likely to rise to 9.000 Natural gas recently reversed up from the strong support level 6.500, coinciding with the 20-day moving average and the 50% Fibonacci correction of the upward impulse wave (3) from February. The support zone near the support level 6.500 was further strengthened by […]