Category: Technial Analysis
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of another rising impulse. In this case, the upside target may be the resistance level at 1995.00. At the […]
BRENT In the H4 chart, Brent is trading above at 200-day Moving Average to indicate a possible sideways tendency. Yesterday bears attempted to break 1/8 but failed – bulls were stronger, so the price is currently moving above this level. In this case, the price is expected to test the resistance at 2/8, break it, […]
Type: Bullish RiseKey Levels:Resistance: 1726’4Pivot: 1704’6Support: 1688’4Preferred Case:With price moving above the Ichimoku cloud and the ascending trendline, we have a bullish bias that price will rise to our 1st resistance in line with the 1726’4 in line with the swing high resistance from our pivot of 1704’6 in line with the 50% Fibonacci retracement […]
Type: Bearish ContinuationKey Levels:Resistance: 81.27Pivot: 79.67Support: 78.42Preferred Case:With price moving below the Ichimoku cloud, we see a potential bearish continuation from our pivot level of 79.67 which is in line with 50% Fibonacci retracement towards our 1st support level of 78.42 which is in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break […]
Not too much good news from the BTC. On Friday, the major cryptocurrency is trading at $40,492 and remains under pressure for the third consecutive trading session. Negative vibes are coming from the stock markets – yesterday American investors were selling and the overall situation was rather sad. The US Fed is ready to boost […]
GBPUSD updated the lows after the UK released Retail Sales statistics. The Pound sterling dropped against the USD on Friday. The current quote for the instrument is 1.2908. The new bottom, 1.2898. is the lowest since 3 November 2020. The key trigger for this was the Retail Sales Report published by the United Kingdom earlier. […]
Europe is set to install a record capacity of offshore wind power this year, led by the United Kingdom, as the old continent seeks to boost energy supplies away from Russia. And energy research company Rystad Energy expects, in a report issued yesterday , Thursday, that the added capacity of offshore wind energy in Europe […]
USD Rally ContinuesThe US Dollar is seeing better demand into the end of the week following comments from Fed chairman Jerome Powell yesterday. Powell, who was taking part in an IMF meeting regarding the global economy, yesterday confirmed that larger .5% hikes are “on the table” for the next meeting on May 4th.Powell explained that, […]
Type: Bearish ContinuationKey Levels:Resistance: 807’4Pivot: 800’2Support: 789’6Preferred Case:With price moving below the Ichimoku cloud and the descending channel, we see a potential bearish continuation from our pivot level of 800’2 which is in line with 38.2% Fibonacci retracement and horizontal overlap resistance towards our 1st support level of 789’6 which is in line with the […]
• GBPCAD reversed from support level 1.6320• Likely to rise to resistance level 1.6475 GBPCAD recently reversed up from the key support level 1.6320 (which has been reversing the price from the end of March) – strengthened by the lower daily Bollinger Band. The upward reversal from the support level 1.6320 created the daily candlesticks […]