Category: Technial Analysis

Type: Bullish BounceKey Levels:Resistance: 0.68969Pivot: 0.68085Support: 0.67297Preferred Case:Price is near pivot level of 0.68085 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. It can potentially bounce up to 1st resistance level of 0.68969 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the stochastic indicator where […]

• GBPJPY reversed from key round resistance level 164.65• Likely to fall to support level 163.00 GBPJPY today recently reversed down from the key resistance level 164.65 (previous monthly high from March) – coinciding with the upper daily Bollinger Band. The downward reversal from the resistance level 164.65 stopped the previous impulse wave (i). Given […]

• Freversed from resistance level 134.60• Likely to fall to support level 132.00 CHFJPY currency pair recently reversed down from the key round resistance level 134.60 (previous multi-month high from 2015) – standing near the upper daily and weekly Bollinger Bands. The downward reversal from the resistance level 134.60 created the daily candlesticks reversal pattern […]

AUDUSD is stuck inside a narrow sideways range and waiting for new catalysts. The Australian Dollar is barely moving against the USD. The current quote for the instrument is 0.7443. The “greenback” weakened a bit and the other traded currencies got a chance to rebound. However, the Aussie didn’t take advantage of the situation.  The […]

After updating this month’s lows, EURUSD quickly corrected.  The major currency pair reached some stability. The current quote for the instrument is 1.0914. The “greenback” weakened yesterday: the US 10-year bond yield dropped, and market sentiment improved. Investors got interested in risky assets again and their demand for the USD declined.  Today’s going to be […]

Gold prices fell in trading on Thursday, with the stability of high-risk assets, but the precious metal is still heading towards achieving a second consecutive weekly gain, driven by the safe haven demand caused by the Ukrainian crisis and the expansion of inflationary pressures. On Wednesday, gold prices ended higher, for the fifth consecutive session, […]

RBNZ Hikes by .5% We’ve seen plenty of volatility in the New Zealand Dollar over the last 12 hours, following the RBNZ April meeting. The bank took the bull by the horns and announced a .5% rate hike, taking rates back up to 1.5%, in a bid to combat ballooning inflation. While the market was […]

CIBCFX FlowsFed Barkin spoke but it wasn’t him that moved the US$, UST yields climbed, 10-year rose above 2.74% and that encouraged US$ buyers. Witness $YEN demand for the fix got the pair to 125.645. For the rest of the morning $YEN did little and clung on to the top of the morning’s range.The RBNZ […]

EURUSD, “Euro vs US Dollar” Having completed the descending wave at 1.0808, EURUSD is correcting towards 1.0929 and may later start a new decline with the target at 1.0750. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has finished the descending wave at 1.2975; right now, it is correcting towards 1.3142. Later, the market may […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is still growing within the bullish impulse at 1.3142. The bears’ second attempt to break the support area at 1.2965 failed, that’s why the daily chart has the potential for the formation of a Double Bottom reversal pattern. To complete the pattern, bulls have to fix above […]