Category: Technial Analysis
• NZDUSD broke key support level 0.6410• Likely to fall to support level 0.6300 NZDUSD currency pair under the bearish pressure after the price broke the key support level 0.6410 (which reversed the price sharply at the start of this month). The breakout of the support level 0.6410 accelerated the active impulse waves 3 and […]
Global oil prices fell on Monday, May 9, along with stock markets in Asia, weighed by weak Chinese data and fears of a global recession that could double oil demand. Oil prices fell as investors looked ahead to European Union talks on a Russian oil embargo, which could result in an agreement that could put […]
AUDUSD Big Level on WatchHeavy risk aversion as we kick off the new week has seen commodity-linked currencies getting hit hard. Chief among them is the Aussie which has broken down through last week’s lows and is now once again testing 2022 lows around the .6989 level. This is a major support level for the […]
Type: Bullish RiseKey Levels:Resistance: 1143’0Pivot: 1123’0Support: 1105’2Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the 161.8% Fibonacci extension from our pivot in line with the horizontal pullback support and 23.6% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and […]
GBPUSD CollapsesIt’s been another exciting week in financial markets. Several key moves have kept traders on their toes this week and as we draw to a finish the main attraction appears to be the sell-off in GBP. We’ve had plenty of record action recently, such as the massive decline in JPY, and this week was […]
CIBCFX FlowsTokyo saw its inflation accelerated to highest in near 30 years in April, Bloomberg said this was largely dur to soaring energy prices. One reporter noted that strong connection in Tokyo CPI to the national CPI which will be published on May 20. A similar boost will complicate BoJ message on inflation. Japan reopened […]
Mortgage lending growth in China is slowing amid ongoing downturn in real estate market, caused by defaults among developers, lockdowns and worsening consumer sentiment.The total volume of outstanding mortgage loans in China at the end of March was 53.2 trillion yuan ($8 trillion), rising by 6% compared to the same month of 2021 – the […]
Type: Bullish BounceKey Levels:Resistance: 1.11086Pivot: 1.10161Support: 1.09717Preferred Case:On the H4, with price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1.11086 where the 161.8% Fibonacci extension is from our pivot of 1.10161 in line with the 50% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, […]
Type: Bearish ContinuationKey Levels:Resistance: 794’0Pivot: 790’0Support: 783’4Preferred Case:With price expected to reverse off the resistance of the Ichimoku cloud, we see a potential bearish continuation from our pivot level which is in line with 23.6% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of in line with the horizontal swing low support […]
Type: Bullish BounceKey Levels:Resistance: 2859.57Pivot: 2721.94Support: 2652.04Preferred Case:On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 2859.57 where the 61.8% Fibonacci retracement is from our pivot of 2721.94 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price […]