Category: Technial Analysis

GBPNZD Bear Flag on Watch Price action in GBPNZD is looking interesting here. The pair has been moving in a well-defined, corrective bull channel over the last month or so. Given the heavy decline leading into this current corrective period, an eventual downside break of the channel and a continuation of the prior bearish trend, […]

• USDJPY reversed from support area• Likely to rise to resistance level 131.20 USDJPY recently reversed up strongly from the support area located between the key support level 128.90 (former resistance from last month) and the 50% Fibonacci correction of the upward impulse from April. The upward reversal from this support area is likely to […]

• Nikkei 225 reversed from resistance area• Likely to test support level 26500.00 Nikkei 225 index recently reversed down from the resistance area located between the key resistance level 27425.00 (which has been reversing the price from last month), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from March. The […]

GBPUSD is falling before the May meeting of the Bank of England. The Pound sterling is looking rather weak against the USD. The current quote for the instrument is 1.2525. The United Kingdom didn’t publish a lot of important macroeconomic statistics this week. However, there will be something worth paying attention to today – the […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is falling within the bearish channel. 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 1.2575 and then resume moving downwards to reach 1.2255 Another signal in favour of […]

Type: Bullish BounceKey Levels:Resistance: 1.49684Pivot: 1.47451Support: 1.4689Preferred Case:On the H4, with price expected to bounce off the RSI indicator, we have a bullish bias that price will rise to our 1st resistance at 1.49684 where the swing high resistance , 78.6% Fibonacci retracement and 61.8% Fibonacci projection is from our pivot at 1.47451 in line […]

Type: Bearish ReversalKey Levels:Resistance: 0.71703Pivot: 0.71235Support: 0.7029Preferred Case:On the H4, with price moving below the Ichimoku cloud and the descending trendline, we have a bearish bias that price will drop from our pivot at 0.71235 where the horizontal swing high resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci projection is to our 1st support at 0.7029 […]

EURUSD, “Euro vs US Dollar” After breaking 1.0580 to the upside, EURUSD is expected to correct up to 1.0670. Later, the market may form a new descending structure to return to 1.0580 and then start another growth with the target at 1.0696. GBPUSD, “Great Britain Pound vs US Dollar” Having broken 1.2580 upwards, GBPUSD is […]

USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after breaking 8/8 and leaving the “overbought area”, USDCHF is expected to break 7/8 and continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks the resistance at 8/8 to the upside. After that, the instrument may […]

FOMC Up NextThe FOMC meeting later todayholds the potential to be a key, near-term catalyst for FX price action. Withtraders expecting the Fed to hike rates by .5%, the focus now will be one theaccompanying guidance issued alongside the rate decision. Should the Fedmaintain its recent hawkishness, focusing on the need to normalise policy so […]