Category: Technial Analysis
USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after breaking 8/8 and leaving the “overbought area”, USDCHF is expected to break 7/8 and continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks the resistance at 8/8 to the upside. After that, the instrument may […]
FOMC Up NextThe FOMC meeting later todayholds the potential to be a key, near-term catalyst for FX price action. Withtraders expecting the Fed to hike rates by .5%, the focus now will be one theaccompanying guidance issued alongside the rate decision. Should the Fedmaintain its recent hawkishness, focusing on the need to normalise policy so […]
GBPCAD Remains Under PressureThe short idea issued inGBPCAD has seen the market trading down towards the target at 1.5894. While we’veseen a little corrective action recently, the bias remains firmly bearish forthe pair while below the 1.6293 level, keeping the focus on an eventual test ofthe 1.5899 level. Retail traders remain heavily long here and […]
EURUSD continues trading near its lows; market players are waiting for the US Fed’s decisions. The major currency pair remains weak on Wednesday. The current quote for the instrument is 1.0518. So, the zero hour has come. The 2-day meeting of the US Fed will be over later today, which means that investors will finally […]
EURUSD, “Euro vs US Dollar” After finishing the correctional wave at 1.0655, EURUSD is forming a new descending structure to break 1.0407 and may later continue trading downwards with the target at 1.0373. GBPUSD, “Great Britain Pound vs US Dollar” Having completed the correctional wave at 1.2570, GBPUSD is falling to break 1.2444 and may […]
Type: Bearish ContinuationKey Levels:Resistance: 83’30Pivot: 82’45Support: 79’93Preferred Case:With price expected to reverse off the resistance of the ichimoku cloud, we see a potential bearish continuation from our pivot level of 82’45 which is in line with 38.2% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 79’93 which is in line with […]
The Fed is expected to deliver a 50 bp rate hike today and announce the start balance sheet runoff. Markets will be interested in the pace of QT, since this will determine supply of longer-maturity Treasuries on the market in the medium-term which has a great influence on greenback demand. For example, the pullback of […]
AUDUSD is keeping its positive momentum thanks to the Reserve Bank of Australia. The Australian Dollars keep on trying to recover against the USD. The current quote for the instrument is 0.7118. Yesterday, the Reserve Bank of Australia raised the benchmark interest rate by 25 basis points, up to 0.35%. At the same time, it […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from Tenkan-Sen and Kijun-Sen. 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 1.0570 and then resume moving downwards to reach 1.0315. Another signal in favour of a further […]
Type: Bearish DropKey Levels:Resistance: 1105’2Pivot: 1080’2Support: 1042’4Preferred Case:With price expected to reverse off the stochastics indicator, we see a potential bearish continuation from our pivot level of 1080’2 which is in line with 61.8% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1042’4 which is in line with the horizontal swing […]