Category: Technial Analysis
Type: Bearish DipKey Levels:Resistance: 104.56Pivot: 102.83Support: 98.24Preferred Case:Prices are on bearish momentum and abiding by a descending trendline. We see the potential for a dip from our pivot at 102.83 which is a graphical overlap and in line with 38.2% Fibonacci Retracement towards our 1st support at 98.24 in line with 61.8% Fibonacci Projection .Alternative […]
USDJPY, “US Dollar vs. Japanese Yen” In the H4 chart, USDJPY is heading towards the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at […]
EURUSD weakened pretty much on Tuesday and remains under bearish pressure on Wednesday. The major currency remains weak in the middle of the week. The current quote for the instrument is 1.0911. Demand for the “greenback” skyrocketed after some harsh comments from American monetary policymakers. For example, Lael Brainard, the vice-chair of the Federal Reserve, […]
Bonds Tank on Fed HawkishnessUS bond prices continue to sink this week, with bonds soaring, on the back of hawkish comments from Fed’s Brainard overnight. Speaking at a conference in Minneapolis, Brainard told the audience that she believes the run-off in the Fed’s balance sheet will happen at a much quicker pace than the last […]
Type: Bearish DipKey Levels:Resistance: 25.005Pivot: 24.665Support: 24.050Preferred Case:Prices have broken our pivot. We see the potential for a dip from our Pivot at 24.665 in line with 50% Fibonacci Retracement towards our 1st support at 24.050 in line with 61.8% Fibonacci Projection . Our bearish bias is further supported by prices trading below our Ichimoku […]
• USDCAD under bullish pressure• Likely to rise to resistance level 929.00 USDCAD currency pair under bullish pressure after the price reversed up from the strong support level 1.2450 (previous monthly low from January) – ending the earlier correction (2). The support zone near the support level 1.2450 was strengthened by the lower daily Bollinger […]
• Platinum under bearish pressure• Likely to fall to support level 929.00 Platinum under bearish pressure after the price broke below the support level 966.00 (which has been reversing the price from the middle of January). The breakout of the support level 966.00 accelerated the active impulse wave C, which belongs to wave (2) from […]
The cryptocurrency expectedly responded to the US stock market decline. Yesterday, American policymakers spoke and said that the US Fed’s portfolio would be cut much faster than in the past, as well as announced a possibility of a 50-point rate hike during its meeting on 3-4 May. This news made investors sell assets and indices […]
EURUSD, “Euro vs US Dollar” EURUSD continues forming the descending wave and may soon reach at 1.0860. 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 is forming a new consolidation […]
Type: Bullish RiseKey Levels:Resistance: 73.42Pivot: 72.11Support: 70.81Preferred 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 73.42 in line with the overlap resistance and 61.8% Fibonacci retracement from our pivot of 72.11 in line with the 23.6% Fibonacci retracement and […]