Category: Technial Analysis
The most important market event yesterday was a surge of longer-maturity Treasury yields, which apparently triggered greenback rally and sell-off in equity markets. The fact, that this happened after the Fed meeting suggests that the central bank’s efforts to control inflation proved unconvincing and investors decided to sell bonds, in other words, demanding more compensation […]
GBP Under Pressure The short trade issued in GBPCAD from the break of 1.6293 has now hit its final target at 1.5899. Yesterday’s BOE meeting saw the UK central bank issuing a warning of a massive downturn to come in the UK as a result of soaring inflation, ongoing supply-chain issues and tighter monetary conditions. […]
• Standard Chartered reversed from resistance zone• Likely to fall to support level 5.510 Standard Chartered earlier reversed down from the resistance zone lying between the multi-month resistance level 5.8 (which stopped the sharp uptrend in February) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier impulse wave […]
The BTC dropped after all. On Friday, the major cryptocurrency is trading at $36,435; yesterday’s low is $35,579. At the moment, the asset is moving close to the lows of 24 February. Over the last 24 hours, the BTC lost 9%. The current technical picture doesn’t exclude a possibility of a plunge below $35,000. After […]
After taking a short break, EURUSD resumed its decline. The major currency pair got back under bearish pressure quite quickly. The current quote for the instrument is 1.0558. The weekly Unemployment Claims report published yesterday by the US showed 200K against the expected reading of 182K. The difference is quite acceptable – the current situation […]
Type: Bearish ContinuationKey Levels:Resistance: 85’46Pivot: 83’76Support: 82’04Preferred Case:With price expected to reverse off the resistance of the Ichimoku cloud, we see a potential bearish continuation from our pivot level of 83’76 which is in line with 50% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 82’04 which is in line with […]
Type: Bearish ContinuationKey Levels:Resistance: 1674Pivot: 1662’6Support: 1644Preferred Case:With price moving below the Ichimoku cloud, we see a potential bearish continuation from our pivot level of 1662’6 which is in line with 50% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1644 which is in line with the horizontal pullback support.Alternative Scenario:Alternatively, […]
• EUR50 broke the support zone• Likely to fall to support level 3600.00 EUR50 index recently broke the support zone lying between the key support level 3700.00 (which stopped wave (i) at the end of April) and the 50% Fibonacci correction of the upward impulse (1) from March. The breakout of this support zone accelerated […]
• GBPAUD reversed from support level 1.7200• Likely to rise to resistance level 1.7493 GBPAUD currency pair recently reversed up sharply from the key support level 1.7200 (which stopped wave 1 at the start of April). The upward reversal from the support level 1.7200 created the daily candlesticks reversal pattern Hammer – standing far below […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the resistance area during the pullback. At the moment, EURUSD is reversing in the form of a new descending impulse. In this case, the downside target may be at 1.0440. However, an […]