Category: Technial Analysis

Type: Bullish BounceKey Levels:Resistance: 1710’4Pivot: 1690’6Support: 1682’2Preferred Case:We see the potential for a bounce from our pivot at 1690’6 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 1710’4 in line with 100% Fibonacci projection and 161.8% Fibonacci extension.Alternative Scenario:Alternatively, price may break our pivot structure and head for […]

Suzuki Weighs in On JPY DeclineJapanese Finance minister Shunichi Suzuki this week warned over the negative impact to the Japanese economy that the current depreciation in the Yen is having. JPY has plunged by around 11% against USD, EUR and GBP since early March. Suzuki said that while “There are positive aspects to it…given the […]

EURUSD, “Euro vs US Dollar” EURUSD continues falling towards 1.0749 and may later start a new correction to reach 1.0835. After that, the instrument may resume trading downwards with the target at 1.0730 or even extend this structure down to 1.0700. GBPUSD, “Great Britain Pound vs US Dollar” Having formed a new consolidation range around […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Long-Legged Doji reversal pattern not far from the resistance area. At the moment, the asset is reversing in the form of another correctional impulse. In this case, the downside correctional target may be the support level at 1965.00. […]

Oil prices deepened their losses by more than 4% during trading on Tuesday, with fears of slowing demand for crude, and the rise of the dollar to its highest level in two years. The International Monetary Fund cut its forecast for global economic growth this year to 3.6%, down by 0.8% from previous expectations, warning […]

European stocks down, yen hits 20-year low as US hikes loom European stocks fell on Tuesday, while 10-year US inflation-linked bond yields were on the verge of turning positive for the first time in two years, as the prospect of aggressive Fed tightening to control inflation kept investors on edge. Investors were also bracing for […]

Type: Bullish BounceKey Levels:Resistance: 20.32Pivot: 19.96Support: 19.81Preferred Case:We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st support at 19.81 […]

Type: Bearish DipKey Levels:Resistance: 26.415Pivot: 26.160Support: 25.835Preferred Case:We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection.Alternative Scenario:Alternatively, price might break our pivot structure and head […]

• Dow Jones reversed from support level 34140.00• Likely to rise to resistance level 34920.00 Dow Jones recently reversed up from the support level 34140.00 (former resistance from March) intersecting with the 38.2% Fibonacci correction of the upward wave B from February. The support zone near the support level 34140.00 was further strengthened by the […]

• GBPJPY broke resistance level 164.35• Likely to rise to resistance level 168.00 GBPJPY is under the bullish pressure after the price broke above the key resistance level 164.35 (which stopped wave 3 at the end of March). The breakout of the resistance level 164.35 accelerated the active impulse waves 5 and (C). GBPJPY can […]