Category: Technial Analysis
Ethiopia seeks to be a major player in the African arena through an ambitious plan to expand the field of renewable energy, and to export it to the Horn of Africa and East African countries on a large scale. The government announced an ambitious plan to invest $40 billion in building new infrastructure to produce […]
Type: Bearish ContinuationKey Levels:Resistance: 1704’6Pivot: 1687’6Support: 1659’2Preferred Case:With price moving below the ichimoku cloud, we see a potential bearish continuation from our pivot level of 1687’6 which is in line with 38.2% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1659’2 which is in line with the horizontal swing low support.Alternative […]
GBPAUD Rejected At Key LevelGBPAUD price action is looking interesting for bears here. The decline from the break through the rising trend line over late 2021/early 2022 has seen the market breaking through several key levels. The break of 1.7813 (major support level) was a strongly bearish development for the pair. With price having recently […]
• EURUSD broke long-term support level 1.0640• Likely to fall to support level 1.0400 EURUSD currency pair under the strong bearish pressure after the price the long-term support level 1.0640 (the previous yearly low from the start of January). The breakout of the support level 1.0640 accelerated the active impulse waves 5 and (3). EURUSD […]
• S&P 500 reversed from support zone• Likely to rise to resistance level 4250.00 S&P 500 index recently reversed up from the support area lying located between the long-term support level 4150.00 (which has been reversing the price from last June) and the lower daily Bollinger Band. The upward reversal from this support zone stopped […]
The BTC is having tough times right now. On Wednesday, the major cryptocurrency is trading at $38,945 and trying to recover after plummeting the day before. Despite the local correction, bears are still dominating. The technical picture tells us to continue monitoring $37,000 – bears will concentrate all forces on breaking it. The chances for […]
EURUSD continues falling and reaching new lows. The major currency pair hit another bottom. The current quote for the instrument is 1.0619. The Durable Goods Orders report from the US was below expectations but still quite positive – the indicator added 0.8% mm in March against the expected reading of 1.0% m/m. In February, it […]
Residents of a small village in Senegal are resisting the disasters of climate change and global warming, and the severe drought that it caused, with a project to grow vegetables and employ the population, after digging a well to provide irrigation water, using renewable energy sources, such as solar energy, and working ecosystems. The project […]
Type: Bullish BounceKey Levels:Resistance: 23.870Pivot: 23.280Support: 22.875Preferred Case:Price is near to the key pivot level. We are expecting the price to potentially bounce off from our pivot level of 23.280 in line with 138.2% Fibonacci extension towards our 1st resistance level of 23.870 which is in line with 23.6% Fibonacci retracement.Alternative Scenario:Otherwise, the price might […]
Tesla Sell Off DeepensShares in US automaker and alternative energy firm Tesla have come under heavy selling pressure this week. The company’s stock plunged by 12% yesterday over concerns relating to the company’s founder and CEO, Elon Musk, agreeing to but Twitter for $44 billion. Stockholders are reportedly concerned that, in order to finance the […]