Category: Technial Analysis
Metals Rise As USD Weakness ContinuesIt’s been a much better opening for metals traders this week. With the greenback still under selling pressure today, gold and silver prices are continuing their recent recover run higher. Gold is now trading around 4% higher from last week’s lows with silver prices around 8% higher. While the US […]
Type: Bearish ContinuationKey Levels:Resistance: 3986Pivot: 3944Intermediary Support: 3860Support : 3831Preferred Case:With price within the Ichimoku cloud resistance, we have a bearish bias that price will drop to our support in line with the horizontal swing low support and 78.6% Fibonacci projection from our pivot in line with the horizontal swing high resistance and 50% Fibonacci […]
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 1.0675. However, an alternative scenario implies […]
GBPUSD is keeping its positive momentum and trying to get back to balance. The Pound sterling is moving away from its local lows against the USD. The current quote for the instrument is 1.2552. The statistics published last Friday showed that the Retail Sales in the United Kingdom gained 1.4% m/m in April after losing […]
Gold prices rose in trading on Monday to its highest level in more than a week, supported by the weakness of the dollar. The rise in gold prices came despite higher US Treasury yields, which limited gains in dollar-denominated bullion. Gold prices today The price of gold futures contracts – for delivery next August – […]
Oil prices rose about 1% during trading on Monday, with the increase in demand in the United States for fuel and the scarcity of supply. This comes as Shanghai, the economic capital of China, is happy to reopen its doors after a two-month closure; This has raised concerns about a sharp slowdown in growth. This […]
GBPCAD Reversal Set UpPrice action in GBPCAD is looking very interesting here to play to the long side. Following a couple of really great short trades over the prior decline, the pair looks to have bottomed recently. The block of consolidation which formed over May saw strong bullish divergence on momentum studies. Price has since […]
Type: Bullish RiseKey Levels:Resistance: 1.96554Pivot: 1.94163Support: 1.92756Preferred Case:On H4, price is bouncing off Ichimoku indicator we have a bullish bias that price will rise from our pivot at 1.94163 where horizontal pullback support is and is expected to approach the first resistance level at 1.96554 in line with the swing high resistance.Alternative Scenario:Price may break […]
• CHFJPY broke daily up channel• Likely to rise to resistance level 133.00 CHFJPY currency pair continues to rise after the pair broke through the resistance trendline of the daily up channel from the end of last month. The breakout of this up channel accelerated the active impulse wave (1) which started earlier from the […]
• FTSE 100 reversed from support zone• Likely to rise to resistance level 7550.00 FTSE 100 index recently reversed up from the support zone lying between the support level 7225.00, lower daily Bollinger Band and the 50% Fibonacci retracement of the upward correction 2 from March. The upward reversal from this support zone stopped the […]