Category: Technial Analysis
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Long-Legged Doji reversal pattern not far from the resistance area. At the moment, the asset is reversing in the form of another correctional impulse. In this case, the downside correctional target may be the support level at 1965.00. […]
Oil prices deepened their losses by more than 4% during trading on Tuesday, with fears of slowing demand for crude, and the rise of the dollar to its highest level in two years. The International Monetary Fund cut its forecast for global economic growth this year to 3.6%, down by 0.8% from previous expectations, warning […]
European stocks down, yen hits 20-year low as US hikes loom European stocks fell on Tuesday, while 10-year US inflation-linked bond yields were on the verge of turning positive for the first time in two years, as the prospect of aggressive Fed tightening to control inflation kept investors on edge. Investors were also bracing for […]
Type: Bullish BounceKey Levels:Resistance: 20.32Pivot: 19.96Support: 19.81Preferred Case:We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st support at 19.81 […]
Type: Bearish DipKey Levels:Resistance: 26.415Pivot: 26.160Support: 25.835Preferred Case:We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection.Alternative Scenario:Alternatively, price might break our pivot structure and head […]
• Dow Jones reversed from support level 34140.00• Likely to rise to resistance level 34920.00 Dow Jones recently reversed up from the support level 34140.00 (former resistance from March) intersecting with the 38.2% Fibonacci correction of the upward wave B from February. The support zone near the support level 34140.00 was further strengthened by the […]
• GBPJPY broke resistance level 164.35• Likely to rise to resistance level 168.00 GBPJPY is under the bullish pressure after the price broke above the key resistance level 164.35 (which stopped wave 3 at the end of March). The breakout of the resistance level 164.35 accelerated the active impulse waves 5 and (C). GBPJPY can […]
AUDUSD is slowing down its decline in response to the RBA Meeting Minutes. The Australian Dollar is taking a break from falling against the USD. The current quote for the instrument is 0.7389. Earlier today, the Reserve Bank of Australia released its latest Meeting Minutes, which provided the Aussie with serious support. The Australian currency […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from Tenkan-Sen at 1.0781; it is testing the downside border of a large Triangle pattern. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0835 and then resume moving […]
Type: Bearish DipKey Levels:Resistance: 2421.0Pivot: 2396.0Support: 2302.0Preferred Case:We see the potential for a bearish dip from our pivot level at 2396.0 in line with 127.2% Fibonacci extension towards our 1st support level at 2302.0 in line with 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 2421.0 in […]