Category: Technial Analysis

• Silver broke support level 24.00• Likely to fall to support level 22.00 Silver recently broke the support level 24.00, intersecting with the 38.2% Fibonacci correction of the upward impulse from the end of last year. The breakout of the support level 24.00 accelerated the active intermediate ABC correction (2). Silver can be expected to […]

EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0600 and forming a new consolidation range above this level, EURUSD has broken it to the downside; right now, it is falling towards 1.0506. After that, the instrument may start a new correction to return to 1.0600 and then resume trading downwards with the […]

USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may be cancelled if the price breaks the resistance […]

Gold prices fell to the lowest level in 10 weeks, during trading today, Thursday, with the strength of the US dollar and anticipation of the Federal Reserve’s decision. Markets are awaiting the Fed’s interest rate decision; The US central bank is scheduled to hold its meeting next Wednesday, amid strong expectations of a new interest […]

US GDP Up NextLooking ahead to today’s US session, the main data focus will be on the release of advance US quarterly GDP for Q1. In light of the impact of surging inflation, supply-side issues, and the impact of COVID and the conflict in Ukraine, the market is widely expecting US GDP to have moderated […]

JPY Plunges Lower StillThe Japanese Yen has fallen to it slowest level against the Dollar since 2002 on the back of the April BOJ meeting today. The BOJ reaffirmed its commitment to maintaining an easing presence in the market, stating that it will continue buying bonds daily in line with its aim of keeping bond […]

• NZDUSD broke long-term support level 0.6535• Likely to fall to support level 0.6400 NZDUSD currency pair recently broke the long-term support level 0.6535, which has been repeatedly reversing the price from the end of 2020. The breakout of the support level 0.6535 continues the active intermediate impulse wave (3) from last year. NZDUSD can […]

• FTSE 100 reversed from support level 7345.00• Likely to rise to resistance level 7535.00 FTSE 100 index recently reversed up from the support level 7345.00, intersecting with the 38.2% Fibonacci correction of the upward ABC correction 2 from the start of March. The upward reversal from the support level 7345.00 created the daily candlesticks […]

USDJPY skyrocketed to its 20-year highs again after the BoJ’s meeting.  The Japanese Yen hit new bottom against the USD. The current quote for the instrument is 130.59. The Bank of Japan has another meeting on Thursday and kept the basic parameters of its monetary policy intact. The benchmark interest rate remained at -0.1%, just […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Hanging Man reversal pattern close to the resistance level, USDCAD is reversing in the form of a new correctional impulse. In this case, the downside correctional target may be at 1.2795. However, an alternative scenario implies that the […]