Category: Technial Analysis
AUDJPY Key Level on Watch Putting the focus back on AUDJPY this week. A previously highlighted setup is still in the offing here. The market is potentially carving out a head and shoulders pattern, suggesting room for at least a medium-term correction lower. The key level to watch for a is a break of the […]
Credit AgricoleAsia overnightThe USD has extended its gains against all its G10 FX peers at the start of this week, as the Antipodeans’ FX are underperforming in the wake of broad equity losses. Of special note, NZD/USD has dipped below 0.6350 for the first time since H120, while AUD/USD has slipped back toward the big […]
As global growth concerns mount, the Canadian dollar falls to a five-month low. On Monday, the Canadian dollar fell to its lowest level in nearly five months against the US dollar, as investors became more concerned about the global economic outlook after China’s two largest cities tightened COVID-19 curbs. Global stock markets extended recent losses, […]
Type: Bearish ContinuationKey Levels:Resistance: 783’4Pivot: 778’0Support: 767’2Preferred Case:With the Ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the 78.6% Fibonacci retracement and horizontal pullback support from our pivot of 778’0 in line with the horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot […]
Metals Markets Falling On Higher USD Gold and silver remain subdued this week as recent strength in the US Dollar continues to act as a barrier. With the Fed having hiked rates by .5%, and signalling further .5% hikes to come, USD remains firmly in demand. The Fed cited excessive inflation and tightness in the […]
• WTI crude oil reversed from resistance zone• Likely to fall to support level 105.00 WTI crude oil recently reversed down from the resistance zone lying between the key resistance level 108.80 (top of the previous impulse wave 1) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier […]
• 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 […]