Category: Technial Analysis
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Shooting Star reversal pattern close to the resistance level, USDCAD is reversing in the form of a new correctional impulse. In this case, the downside correctional target may be at 1.2690. However, an alternative scenario implies that the […]
Daily Market Outlook, April 22, 2022 Overnight Headlines Nomura Expects Fed To Hike By 75 Basis Points In June And July Fed’s Powell, Half-Point Hike In View, Completes Hawkish Pivot Fed’s Daly: Hiking Fed Policy Rate Beyond 2.5% Is Open Question Bank Of Canada Leaves Door Open To A 75-Basis-Point Rate Hike UK Consumer Confidence […]
Another week comes to a close for traders and it’s been nice for many to get back into the swing of things following the Easter break. In terms of market action it’s been a funny old week indeed. The main theme over the first half of the week was the sharp weakening in JPY which […]
CIBCFX FlowsJapanese Finance Minister Suzuki told reporters that he had discussed the recent rapid decline of the YEN with Treasury Sec Yellen. Both agreed to communicate closely on currency moves. He can’t comment on possibility of intervention. $YEN moved little higher but very cautiously. Annual inflation rose 1.2% in March, many economists said CPI likely […]
Type: Bullish BounceKey Levels:Resistance: 139.967Pivot: 137.154Support: 135.611Preferred Case:With price expected to bounce off the support of the ichimoku cloud, we have a bullish bias that price will rise from our pivot of 137.154 in line with the 50% Fibonacci retracement, 78.6% Fibonacci projection and horizontal pullback support to our 1st resistance of 139.967 in line […]
Type: Bullish BounceKey Levels:Resistance: 95.765Pivot: 93.092Support: 90.924Preferred Case:With price expected to bounce off the support of the ichimoku cloud and the stochastic indicator, we have a bullish bias that price will rise from our pivot of 93.092 in line with the 50% Fibonacci retracement and horizontal pullback support to our 1st resistance of 95.765 in […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of another rising impulse. In this case, the upside target may be the resistance level at 1995.00. At the […]
BRENT In the H4 chart, Brent is trading above at 200-day Moving Average to indicate a possible sideways tendency. Yesterday bears attempted to break 1/8 but failed – bulls were stronger, so the price is currently moving above this level. In this case, the price is expected to test the resistance at 2/8, break it, […]
Type: Bullish RiseKey Levels:Resistance: 1726’4Pivot: 1704’6Support: 1688’4Preferred Case:With price moving above the Ichimoku cloud and the ascending trendline, we have a bullish bias that price will rise to our 1st resistance in line with the 1726’4 in line with the swing high resistance from our pivot of 1704’6 in line with the 50% Fibonacci retracement […]
Type: Bearish ContinuationKey Levels:Resistance: 81.27Pivot: 79.67Support: 78.42Preferred Case:With price moving below the Ichimoku cloud, we see a potential bearish continuation from our pivot level of 79.67 which is in line with 50% Fibonacci retracement towards our 1st support level of 78.42 which is in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break […]