Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” USDCAD is testing the descending channel’s upside border. After plunging earlier, the asset quickly recovered due to significant pressure from bulls. If they fix the price above 1.2670, the asset may continue growing towards the key resistance at 1.2900, which they had been trying to break for much of […]
EURUSD, “Euro vs US Dollar” EURUSD has rebounded from 1.0930; right now, it is falling towards 1.0801. After that, the instrument may correct to reach 1.0866 and then start a new decline with the target at 1.0686. GBPUSD, “Great Britain Pound vs US Dollar” Having rebounded from 1.3086, GBPUSD is trading downwards to reach 1/2950. […]
Type: Bullish BounceKey Levels:Resistance: 1962.9Pivot: 1944.2Support: 1934.1Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 1944.2 in line with 138.2% Fibonacci extension towards our 1st resistance level of 1962.9 which is in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Alternative […]
Oil Traders Continue to Reduce LongsThe latest CFTC COT institutional positioning report shows that oil traders continued to pare upside positions last week. This reduced upside exposure came despite a recovery in oil prices last week, though this has since petered out with oil now trading back below last week’s highs. Recent price action reflects […]
• AUS200 index reversed from resistance level 7615.00• Likely to fall to support level 7430.00 AUS200 index recently reversed down strongly from the long-term resistance level 7615.00 (which has been reversing this index from last August). The downward reversal from the resistance level 7615.00 created the daily candlesticks reversal pattern Evening Star Doji – which […]
• USDCAD reversed from support level 1.2450• Likely to rise to resistance level 1.2650 USDCAD recently reversed up sharply from the powerful support level 1.2450 (which has been repeatedly reversing the price from the middle of January). The upward reversal from the support level 1.2450 created the daily candlesticks reversal pattern Piercing Line – which […]
EURUSD, “Euro vs US Dollar” EURUSD has finished the correction at 1.0860; right now, it is consolidating below this level. Possibly, the pair may expand the range up to 1.0870 and then start a new decline with the target at 1.0750. GBPUSD, “Great Britain Pound vs US Dollar” Having completed the correctional structure at 1.3070, […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. However, this scenario may be cancelled if […]
AUDCAD Sitting on Key LevelPrice action in AUDCAD has piqued my interest here. Following the latest failed attempt at breaking out above .9391/.9474, price has since broken through the rising trend line from YTD lows. For now, we are sitting atop support at the .9262 level. However, with the retail market currently around 65% long, […]
Type: Bearish DropKey Levels:Resistance: 105.59Pivot: 104.39Support: 100.38Preferred Case:Price is moving nearer to the pivot level. We are expecting the price to potentially reverse off from our pivot level of 104.39 in line with 50% Fibonacci retracement towards our 1st support at 100.38 which is in line with 50% Fibonacci retracement and horizontal swing low support […]