Category: Technial Analysis
Type: Bullish BounceKey Levels:Resistance: 1679Pivot: 1623Support: 1579Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance in line with the 1679 in line with the swing high resistance from our pivot of 1623 in line with the 38.2% Fibonacci retracement and the horizontal pullback […]
Type: Bearish DipKey Levels:Resistance: 100.02Pivot: 98.14Support: 90.72Preferred Case:Prices are on bearish momentum and abiding by a descending trendline. We see the potential for a dip from our pivot at 98.14 which is a graphical overlap and which is an area of Fibonacci confluences towards our 1st support at 90.72 in line with 100% Fibonacci Projection […]
EURUSD, “Euro vs US Dollar” EURUSD continues forming the descending wave and may soon reach at 1.0855. After that, the instrument may correct towards 1.0945 and then start another decline with the target at 1.0806. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the descending wave at 1.3079, GBPUSD has formed a new consolidation […]
USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break the resistance at 5/8 and then continue growing to reach 6/8. However, this scenario may be cancelled if the […]
Type: Bearish DropKey Levels:Resistance: 14591Pivot: 14346Support: 14049Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop to our support at 14049 in line with the horizontal overlap support from our pivot at 14346 in line with the 38.2% Fibonacci retracement and horizontal pullback resistance.Alternative Scenario:Alternatively, price may break […]
Fed Pushing Ahead in MayThe US Dollar has been higher today on the back of the release of the March FOMC minutes yesterday. The minutes confirmed the hawkish shift within the Fed, revealing members’ intentions to begin scaling back the central bank’s balance sheet by $95 billion a month starting in May. Coming on the […]
• AUDCHF reversed from resistance level 0.7070• Likely to fall to support level 0.690 AUDCHF currency pair recently reversed down from the strong resistance level 0.7070 (the previous monthly high from March) – ending the earlier wave (C). The resistance zone near the resistance level 1.2450 was strengthened by the upper daily Bollinger Band and […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the broken resistance area at 1.0920; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0965 and then resume moving downwards to reach 1.0735. Another signal in favour of a […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Doji 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 1.2460. However, an alternative scenario implies that the asset may correct […]
Sterling falls against the euro following the release of ECB minutes. Sterling fell against a stronger euro on Thursday, as the minutes of the European Central Bank’s March meeting were more hawkish than expected. At their March 10 meeting, ECB policymakers appeared eager to reduce stimulus, arguing that conditions for raising rates had either been […]