Category: Technial Analysis
• EURCAD reversed from support level 1.3400• Likely to rise to 1.3600 EURCAD today reversed up from the strong support level 1.3400 (which stopped the previous sharp downward impulse wave 3 at the end of last month). The upward reversal from the support level 1.3400 will most likely form the daily candlesticks reversal pattern Morning […]
GBPUSD is successfully moving away from its lows. The Pound sterling continues recovering against the USD on Tuesday. The current quote for the instrument is 1.2458. A short pause in the USD rally allows other traded currencies to reach stability or even recover a little bit. However, nothing really changes strategically. Earlier today, the United […]
EURUSD is slowly moving away from the lows. However, the asset is still rather weak. The major currency pair managed to move away from the lows on Tuesday. The current quote for the instrument is 1.0477. The European Commission worsened the Euro Area GDP expectations for 2022. The updated forecast implies 2.7% q/q against the […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.2930. However, an alternative scenario implies that the asset may […]
EURUSD, “Euro vs US Dollar” After forming a new consolidation range around 1.0412, EURUSD has broken it to the upside. Today, the pair may correct with the target at 1.0474. Later, the market may then start a new decline towards 1.0300 or even extend this structure down to 1.0200. GBPUSD, “Great Britain Pound vs US […]
Daily Market Outlook, May 16, 2022 Overnight Headlines Goldman Sachs Cut US Growth Forecasts For 2022, 2023 McConnell Sees Wednesday Senate Vote On Ukraine Bill China Keeps Key Rate Unchanged Amid Sharp Slowdown China Economy Cools Sharply In April As Lockdowns Bite Shanghai Official: Aim For Return To Normal Life In June EU Consider Gas […]
Metals Under Pressure On MondayIt’s another frustrating Monday morning for gold bulls this week. Both gold and silver remain under firm selling interest as the US Dollar sits just off last week’s highs, which marked the highest DXY prices since 2002. Both gold and silver have been heavy losers over the last two months as […]
Credit AgricoleAsia overnightSentiment started the session strong on the back of a mortgage rate cut in China over the weekend and signs of an easing of its Covid lockdowns in Shanghai. But the investor mood turned sour following the downside surprises in the China cyclical data. At the time of writing, S&P500 futures and a […]
The story of the BTC is developing in not the best way. However, the correctional bounce that we could see from Friday to Sunday gave some hope for acquiring balance. Today the leading cryptocurrency is near $29,706, while the low of May is set at $25,401. So, the BTC has returned to the important level […]
The dollar has fallen from two-decade highs, while the yuan has fallen due to weak Chinese data. The U.S. dollar was down slightly on Monday after hitting a 20-year peak last week, with the global economy in focus after the Chinese yuan came under pressure following weak data. Creating a risk-off mood on Monday, China’s […]