Category: Technial Analysis
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Credit AgricoleAsia overnightRetreating USTyields and expectations for monetary policy easing in China both helped investor sentiment in the Asian session. UST yields are in modest retreat following the below-consensus US core inflation reading on Wednesday. China’s policymakers have indicated looser monetary policy is on the way. Most Asian bourses as well as S&P 500 futures […]
Type: Bullish BounceKey Levels:Resistance:Pivot:Support:Preferred Case:On the H4 timeframe, price is abiding to ascending trendline. We see the potential for a bullish continuation from our pivot level at 0.74299 in line with 50% Fibonacci retracement towards our 1st resistance level at 0.75364 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection.Alternative Scenario:Alternatively, if price breaks […]
• Natural gas in a strong uptrend• Likely to test resistance level 8.0000 Natural gas has been rising strongly in the last few trading sessions following the breakout of the key resistance level 6.50 (former multi-month high from last October). The breakout of the resistance level 6.50 coincided with the breakout of the two different […]
• USDJPY rising inside impulse wave 3• Likely to rise to resistance level 128.00 USDJPY continues to rise inside the minor impulse wave 3, which started earlier from the key support level 125.00 (former top of wave (3)). The support zone near the support level 125.00 was strengthened by the support trendline of the nearby […]
EURUSD, “Euro vs US Dollar” Having rebounded from 1.0920, EURUSD continues falling towards 1.0730 and may later start a new growth with the target at 1.0822. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has rebounded from 1.3141; right now, it is still falling towards 1.3029 and may later grow to reach 1.3088. Later, the […]
BRENT In the H4 chart, Brent is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 2/8 and continue moving upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the asset breaks 1/8 to the downside. […]
BOC Hikes And Signals More To ComeThe Canadian Dollar has seen fresh demand today following yesterday’s April BOC meeting. BOC governor Tiff Macklem announced a .5% hike, as expected, marking the bank’s largest rate hike in 20 years. While the move was well-anticipated by markets, CAD seems to have avoided the fate of NZD following […]
Oil Traders Continue to Reduce Longs The latest CFTC COT institutional positioning report shows that oil traders continued to reduce their net-long positions last week. Upside exposure has been steadily paired back for over a month now. Despite the ongoing reductions in long positions, oil prices have seen better demand this week with crude rallying […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the support area at 1.0805; it managed to test the March low but not break it. 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 1.0845 and then […]