Category: Technial Analysis

Oil prices rose about 1% during trading today, Friday, for the fourth consecutive day, as fears of disruption of Russian supplies outweighed the closures in China, the largest importer of crude in the world, due to the outbreak of the Corona virus. Yesterday, Thursday, oil prices ended more than 3% higher, after volatile trading, with […]

AUDJPY On WatchAUDJPY price action is worth monitoring here. The recent ascent above the 94.23 level saw plenty of bearish divergence before the market topped out and corrected lower. Price is currently holding a ledge of support at the 90.76 level. While this region holds, the focus remains on a continued grind higher. However, if […]

NZDUSD Sell-Off ContinuesThe recent short trade issued in NZDUSD has hit its final target at .6450. With USD having increased significantly in the last fortnight, amidst an uptick in hawkish Fed signalling, NZD and the broader risk complex has struggled to maintain demand. Indeed, Fed tightening is coming amidst a broader backdrop of risk off […]

• EURGBP reversed from resistance zone• Likely to fall to support level 0.8310 EURGBP currency pair recently reversed down from the resistance area located between the pivotal resistance level 0.8465 (which has been reversing the price from December), upper daily Bollinger Band and the resistance trendline of the down channel from last year. This resistance […]

• Gold reversed from support zone• Likely to rise to resistance level 1940.00 Gold recently reversed up from the support zone located between the support levels 1900.00 and 1800.00. This support zone is strengthened by the lower daily Bollinger Band by the 61.8% Fibonacci correction of the upward impulse from the middle of December. Gold […]

EURUSD, “Euro vs US Dollar” EURUSD has fixed above Tenkan-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 1.0645 and then resume moving downwards to reach 1.0255. Another signal in favour of a further downtrend will be a rebound […]

EURUSD reached a new bottom and is trying t reach stability. The major currency pair remains under bearish pressure. the current quote for the instrument is 1.0545. Yesterday, the US released the GDP Q1 2022 report. The first estimate showed that the country’s economy dropped 1.4% q/q after gaining 6.9% q/q in the previous quarter […]

Daily Market Outlook, April 28, 2022 Overnight Headlines Australia Banks Pull Forward Hike Calls After Inflation Surprise China Cabinet Split Over Opening Stimulus ‘Flood Gates’ Treasury Yields Extend Slide Amid Signs Of Extreme Bearishness Deutsche Bank Sees 5%-6% Fed Target Rate And U.S. Recession Euro Falls To Five-Year Low Against Dollar As Growth Risks Eyed […]

Oil Traders Raise Upside Bets on Supply FearsThe latest CFTC COT institutional positioning report shows that oil traders increased their net long position last week for the first time in well over a month. The increase in upside exposure is likely a reflection of resurgent fears over the path the conflict in Ukraine is taking. […]

CIBCKey Headlines $YEN bought for the fix because today is month-end for Japan. Usual comments from Japanese Fin Min but no one paid any attention. Waiting for BoJ, no change expected, ultra-easy monetary policy to continue. BoC Governor Macklem reiterated that Canadian interest rates will go higher, how high they go will depend on how […]