Category: Technial Analysis

Type: Bullish BounceKey Levels:Resistance: 6.607Pivot: 6.260Support: 6.013Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 6.260 in line with 61.8% Fibonacci projection and -27.2% Fibonacci expansion towards our 1st resistance level of 6.607 which is in line with 38.2% Fibonacci retracement […]

• Dow Jones broke key support level 34130.00• Likely to fall to support level 33000.00 Dow Jones index recently broke through the key support level 34130.00 (which stopped the previous waves a and c) intersecting with the 38.2% Fibonacci correction of wave B from February. The breakout of the support level 34130.00 accelerated the active […]

• EURCHF reversed from resistance level 1.0356• Likely to fall to support level 1.0200 EURCHF currency pair recently reversed down strongly from the pivotal resistance level 1.0356 (which has been reversing the price from end of December). The downward reversal from the resistance level 1.0356 stopped the earlier impulse waves (i) and (C). Given the […]

The BTC is declining, and this is no surprise. No miracle has happened: on Monday, the leading cryptocurrency is trading at $38,317. This makes relevant our previous scenario of a decline to $37,000, with the bears capturing the initiative. Let us limit ourselves to this area for now because there are no scenarios of a […]

EURUSD continues plummeting without a pause. The major currency pair remains under bearish pressure. The current quote for the instrument is 1.0747. Market players barely paid attention to Emmanuel Macron’s win in the presidential elections. Apparently, the results were foregone, so the choice of French people didn’t matter for the Euro.   The major currency […]

Gold prices fell more than 33 dollars, during trading on Monday, to its lowest level in 4 weeks, supported by the rise in dollar prices. Gold’s decline came after bets on the US Federal Reserve’s approach to tighten monetary policy, strengthened the dollar, and pressured demand for the precious metal. Gold Prices Today The price […]

EURUSD, “Euro vs US Dollar” In the monthly chart, EURUSD is breaking the support area; it is fixing below the downside borer of a Triangle pattern and may force a pattern materialisation with the target at 0.8800. However, bears still have two important support levels, at 1.0635 and 1.0300 respectively. The instrument is currently moving […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Shooting Star 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 1.2690. However, an alternative scenario implies that the […]

Daily Market Outlook, April 22, 2022 Overnight Headlines Nomura Expects Fed To Hike By 75 Basis Points In June And July Fed’s Powell, Half-Point Hike In View, Completes Hawkish Pivot Fed’s Daly: Hiking Fed Policy Rate Beyond 2.5% Is Open Question Bank Of Canada Leaves Door Open To A 75-Basis-Point Rate Hike UK Consumer Confidence […]

Another week comes to a close for traders and it’s been nice for many to get back into the swing of things following the Easter break. In terms of market action it’s been a funny old week indeed. The main theme over the first half of the week was the sharp weakening in JPY which […]