Category: Technial Analysis

Type: Bullish BounceKey Levels:Resistance: 2968Pivot: 2890Support: 2717Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our pivot at 2890 where the pullback resistance is to our 1st support at 2717 in line with the daily horizontal overlap support and 161.8% Fibonacci extension.Alternative Scenario:Alternatively, […]

• Natural gas reversed from support zone• Likely to rise to resistance level 7.50 Natural gas recently reversed up from the powerful support zone located between the pivotal support 6.50 (former multi-month high from October of 2021), 20-day moving average, upper trendline of the daily up channel from January and the 38.2% Fibonacci correction of […]

• EURJPY reversed from resistance zone• Likely to fall to support level 134.00 EURJPY currency pair recently reversed down from the resistance zone located between the 2 long-term resistance levels: 137.20 (yearly high from 2018) and 140.00 (key resistance from 2015). The downward reversal from this resistance zone stopped the earlier intermediate impulse wave (3). […]

NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is still rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6665 and then resume moving downwards to reach 0.6450. Another signal in favour of a further downtrend will […]

USDJPY is slowly moving away from the multi-year highs. The Japanese Yen is trying to reach stability against the USD after plummeting to its 20-year lows. The current quote for the instrument is 127.85. The Yen devaluation attracted a lot of attention and it seems like market players finally decided that it was too much. […]

Daily Market Outlook, April 26, 2022 Overnight Headlines China Central Bank Seeks To Calm Markets With Support Pledge Japan Readies $48bn Package To Ease Inflation Pain – Nikkei Goldman Sachs Now Sees ECB Hiking Interest Rates In July Oil Advances As Investors Weigh China’s Covid-19 Resurgence Dollar Ascends On China Covid Fears, Fed Rate Hike […]

Gold & Silver Fall As USD Strengthens on Hawkish Fed ViewsThe yellow metal remains under pressure this week, opening with heavy selling in Europe, as traders digest recent hawkishness from the Fed. Fed chairman Powell last week confirmed that the Fed is looking to hike rates by 0.5% in May and is committed to aggressively […]

NZCAD Sell-Off DeepensThe NZDCAD short trade issued ahead of the recent BOC meeting is developing nicely with price close to hitting the final target at .8351. The Canadian Dollar has been much stronger in the wake of the meeting, which saw the BOC hike rates by .5%. However, the .8351 level marks an important level […]

Type: Bullish BounceKey Levels:Resistance: 0.67284Pivot: 0.65331Support: 0.63834Preferred Case:We see the potential of bullish bounce from pivot level of 0.65331 in line up with 161.8% fibonacci extension and 78.6% fibonacci projection towards the 1st resistance level of 0.67284 in line with 38.2% fibonacci retracement.Alternative Scenario:Alternatively, price might break through the key pivot level and trigger a […]

EURUSD, “Euro vs US Dollar” After rebounding from 1.0840 and finishing the descending wave at 1.0774, EURUSD has completed the correction towards 1.0810; right now, it is falling to reach 1.0735. After that, the instrument may correct to return to 1.0773 and then start a new decline with the target at 1.0700. GBPUSD, “Great Britain […]