Category: Technial Analysis

Daily Market Outlook, May 13, 2022 Overnight Headlines Shanghai Aims To Achieve No Community Spread By Mid-May Rate Hike Bets Build In Japan, Despite BoJ Easy Money Insistence BoJ’s Kuroda: Expected Rise In Inflation Will Lack Sustainability Kuroda Rules Out Near-Term Chance Of Tweaking BoJ’s Dovish Guidance Australian DefMin: Chinese Spy Ship In Waters ‘An […]

Type: Bearish ReversalKey Levels:Resistance: 0.71248Pivot: 0.70107Support: 0.68466Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that prices will drop to our 1st support at 0.68466 where our horizontal swing low is at from our pivot at 0.70107 in line with horizontal swing high and 38.2% Fibonacci retracement.Alternative Scenario:Alternatively, […]

Type: Bullish BounceKey Levels:Resistance: 105.384Pivot: 103.599Support: 102.487Preferred Case:On the H4, with price expected to bounce off the Ichimoku support, we have a bullish bias that price will rise to our 1st resistance at 105.384 in line with 78.6% Fibonacci projection from our pivot of 103.599 in line with our horizontal swing low.Alternative Scenario:Alternatively, price may […]

EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0444 and then forming a new consolidation range around this level, EURUSD has broken it to the downside; right now, it is still falling with the target at 1.0290. Later, the market may correct to return to 1.0444 and then form a new descending […]

Fed chairman Jerome Powell warned markets yesterday that the central bank cannot promise a soft landing. The Fed is fighting to get inflation under control and back down to its 2% target while minimizing the impact of tightening on the economy, a so-called soft landing. However, with inflation running well above target the Fed has […]

AUDJPY Takes The PlungeIt’s been another weird and wonderful week in financial markets. We’ve see all kinds of action plenty of interesting developments with crypto markets crashing, the Dollar soaring and the Fed confirming plans to hike by further .5% increments in coming weeks. In terms of picking the best market action to cover, in […]

• AUDCHF reversed from support area• Likely to rise to resistance level 0.7000 AUDCHF currency pair recently reversed up from the support area located between the key support level 0.6835 (which has been reversing the pair from the start of March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse (1) […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD 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 the cloud’s downside border at 1.2245 and then resume moving downwards to reach 1.2035 Another signal in favour of a […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.0470. However, an alternative scenario implies […]

Gold prices fell, during trading today, Friday, May 14, 2022, and remained near their lowest level in 3 months, with the dollar rising and recording its highest level in two decades. The rise in the US currency weakened the demand for bullion priced in dollars, as the yellow metal is heading to record its fourth […]