Category: Technial Analysis

Copper Prices Break Key TrendlineThe reversal lower in copper prices this year has seen the metal breaking down through several key support levels and through the rising trend line from last year’s lows. Price is currently sitting on support at the 4.1185 and with both MACD and RSI bearish, there is a risk of a […]

CADJPY On Watch Price action in CADJPY is looking interesting here. Unlike themoves we are seeing elsewhere against JPY, CAD has failed to breakdown. On the backof last week’s rally in oil prices and given the residual upside risks in theoutlook for oil, CAD looks well placed to fend off the current JPY safe-havenrally.The current […]

• USDCHF reversed from party• Likely to rise to 1.0100 USDCHF continues to rise after the earlier upward reversal from the strong support at parity, 1.000 (earlier resistance from the start of May). The upward reversal from the parity continues the active short-term impulse waves 5 and (C). USDCHF can be expected to rise further […]

• Gold reversed from support zone• Likely to rise to resistance level 1825.00 Gold today reversed up from the support zone located between the key support at 1790.00 (which has been reversing the price from December) and the lower daily Bollinger Band. The upward reversal from the support zone is currently forming the daily Hammer […]

USDJPY moved away from its multi-month highs but the “greenback” has an ace in the hole. Early in another week of May, the Japanese Yen reached stability against the USD. The current quote for the instrument is 129.34. The statistics published in the morning showed that the Producer Price Index in Japan leaped up 10.0% […]

EURUSD, “Euro vs US Dollar” EURUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0445 and then resume moving downwards to reach 1.0115. Another signal in favour of a further downtrend will be a […]

Oil prices fell in early trading, today, Monday, May 16th; This limited investors’ gains, due to concerns about supply at a time when the European Union is preparing to ban the import of Russian oil, and also with a limited increase in OPEC production. The two benchmarks, which gained about 4% last Friday, had earlier […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed an Inverted Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of another ascending impulse. In this case, the upside target may be the resistance level at 1830.50. At […]

EURUSD, “Euro vs US Dollar” After forming a narrow consolidation range around 1.0390, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0275. Later, the market may correct to correct towards 1.0400 and then start a new decline towards 1.0243 or even extend this structure don to […]

Credit AgricoleAsia overnight The dust has tentatively settled across financial markets overnight, with risk sentiment making a timid recovery. In this context, the USD has given up only a modest part of the ground made yesterday against all G10 FX peers bar the JPY which has been a clearer underperformer during the Asian session. USD/JPY […]