Category: Technial Analysis
Daily Market Outlook, April 28, 2022 Overnight Headlines Australia Banks Pull Forward Hike Calls After Inflation Surprise China Cabinet Split Over Opening Stimulus ‘Flood Gates’ Treasury Yields Extend Slide Amid Signs Of Extreme Bearishness Deutsche Bank Sees 5%-6% Fed Target Rate And U.S. Recession Euro Falls To Five-Year Low Against Dollar As Growth Risks Eyed […]
Oil Traders Raise Upside Bets on Supply FearsThe latest CFTC COT institutional positioning report shows that oil traders increased their net long position last week for the first time in well over a month. The increase in upside exposure is likely a reflection of resurgent fears over the path the conflict in Ukraine is taking. […]
CIBCKey Headlines $YEN bought for the fix because today is month-end for Japan. Usual comments from Japanese Fin Min but no one paid any attention. Waiting for BoJ, no change expected, ultra-easy monetary policy to continue. BoC Governor Macklem reiterated that Canadian interest rates will go higher, how high they go will depend on how […]
• Silver broke support level 24.00• Likely to fall to support level 22.00 Silver recently broke the support level 24.00, intersecting with the 38.2% Fibonacci correction of the upward impulse from the end of last year. The breakout of the support level 24.00 accelerated the active intermediate ABC correction (2). Silver can be expected to […]
EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.0600 and forming a new consolidation range above this level, EURUSD has broken it to the downside; right now, it is falling towards 1.0506. After that, the instrument may start a new correction to return to 1.0600 and then resume trading downwards with the […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may be cancelled if the price breaks the resistance […]
Gold prices fell to the lowest level in 10 weeks, during trading today, Thursday, with the strength of the US dollar and anticipation of the Federal Reserve’s decision. Markets are awaiting the Fed’s interest rate decision; The US central bank is scheduled to hold its meeting next Wednesday, amid strong expectations of a new interest […]
US GDP Up NextLooking ahead to today’s US session, the main data focus will be on the release of advance US quarterly GDP for Q1. In light of the impact of surging inflation, supply-side issues, and the impact of COVID and the conflict in Ukraine, the market is widely expecting US GDP to have moderated […]
JPY Plunges Lower StillThe Japanese Yen has fallen to it slowest level against the Dollar since 2002 on the back of the April BOJ meeting today. The BOJ reaffirmed its commitment to maintaining an easing presence in the market, stating that it will continue buying bonds daily in line with its aim of keeping bond […]
• NZDUSD broke long-term support level 0.6535• Likely to fall to support level 0.6400 NZDUSD currency pair recently broke the long-term support level 0.6535, which has been repeatedly reversing the price from the end of 2020. The breakout of the support level 0.6535 continues the active intermediate impulse wave (3) from last year. NZDUSD can […]