Category: Technial Analysis
Type: Bullish BounceKey Levels:Resistance: 20.32Pivot: 19.96Support: 19.81Preferred Case:We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st support at 19.81 […]
Type: Bearish DipKey Levels:Resistance: 26.415Pivot: 26.160Support: 25.835Preferred Case:We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection.Alternative Scenario:Alternatively, price might break our pivot structure and head […]
• Dow Jones reversed from support level 34140.00• Likely to rise to resistance level 34920.00 Dow Jones recently reversed up from the support level 34140.00 (former resistance from March) intersecting with the 38.2% Fibonacci correction of the upward wave B from February. The support zone near the support level 34140.00 was further strengthened by the […]
• GBPJPY broke resistance level 164.35• Likely to rise to resistance level 168.00 GBPJPY is under the bullish pressure after the price broke above the key resistance level 164.35 (which stopped wave 3 at the end of March). The breakout of the resistance level 164.35 accelerated the active impulse waves 5 and (C). GBPJPY can […]
AUDUSD is slowing down its decline in response to the RBA Meeting Minutes. The Australian Dollar is taking a break from falling against the USD. The current quote for the instrument is 0.7389. Earlier today, the Reserve Bank of Australia released its latest Meeting Minutes, which provided the Aussie with serious support. The Australian currency […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from Tenkan-Sen at 1.0781; it is testing the downside border of a large Triangle pattern. 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 1.0835 and then resume moving […]
Type: Bearish DipKey Levels:Resistance: 2421.0Pivot: 2396.0Support: 2302.0Preferred Case:We see the potential for a bearish dip from our pivot level at 2396.0 in line with 127.2% Fibonacci extension towards our 1st support level at 2302.0 in line with 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 2421.0 in […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed an Inverted Hammer reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new ascending impulse. In this case, the upside target may be at 1.0840. However, an alternative scenario […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to continue falling to reach the support at -1/8. Still, this scenario may no longer be valid if the price breaks […]
Type: Bearish DipKey Levels:Resistance: 4.7890Pivot: 4.7740Support: 4.7375Preferred Case:We see the potential for a bearish dip from our pivot at 4.7740 in line with 138.2% Fibonacci extension towards our 1st support at 4.7375 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at […]