Category: Technial Analysis

• Natural gas in a strong uptrend• Likely to test resistance level 8.0000 Natural gas has been rising strongly in the last few trading sessions following the breakout of the key resistance level 6.50 (former multi-month high from last October). The breakout of the resistance level 6.50 coincided with the breakout of the two different […]

• USDJPY rising inside impulse wave 3• Likely to rise to resistance level 128.00 USDJPY continues to rise inside the minor impulse wave 3, which started earlier from the key support level 125.00 (former top of wave (3)). The support zone near the support level 125.00 was strengthened by the support trendline of the nearby […]

EURUSD, “Euro vs US Dollar” Having rebounded from 1.0920, EURUSD continues falling towards 1.0730 and may later start a new growth with the target at 1.0822. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has rebounded from 1.3141; right now, it is still falling towards 1.3029 and may later grow to reach 1.3088. Later, the […]

BRENT In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 2/8 and continue moving upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks 1/8 to the downside. […]

BOC Hikes And Signals More To ComeThe Canadian Dollar has seen fresh demand today following yesterday’s April BOC meeting. BOC governor Tiff Macklem announced a .5% hike, as expected, marking the bank’s largest rate hike in 20 years. While the move was well-anticipated by markets, CAD seems to have avoided the fate of NZD following […]

Oil Traders Continue to Reduce Longs The latest CFTC COT institutional positioning report shows that oil traders continued to reduce their net-long positions last week. Upside exposure has been steadily paired back for over a month now. Despite the ongoing reductions in long positions, oil prices have seen better demand this week with crude rallying […]

EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the support area at 1.0805; it managed to test the March low but not break it. 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 1.0845 and then […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2510. However, an alternative scenario implies that the asset may correct […]

Type: Bullish BounceKey Levels:Resistance: 1.26644Pivot: 1.5541Support: 1.24303Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1.26644 in line with the 50% Fibonacci retracement and the swing high resistance from our pivot at 1.5541 in line with the 50% Fibonacci retracement and horizontal […]

CADCHF Eyeing Key LevelCADCHF is sitting at an interesting level here. Following the breakout above the .7367 highs, price has stalled into a test of major resistance at the .7496 level and is now sitting in a block of consolidation between the two level. .7496 has been a major ceiling for the pair over the […]