Category: Technial Analysis
• Platinum broke round support level 1000.00• Likely to fall to support level 959.00 Platinum recently broke the round support level 1000.00 (which has been repeatedly reversing the price from last January). The breakout of the support level 1000.00 coincided with the breakout of the 61.8% Fibonacci correction of the previous wave (B) from December. […]
• EURNZD reversed from support level 1.5710• Likely to rise to resistance level 1.6100 EURNZD earlier reversed up from the key support level 1.5710 (which stopped the previous sharp downward impulse wave 1), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 1.5710 started the active short-term correction (ii). Given […]
EURUSD, “Euro vs US Dollar” EURUSD is forming a wide consolidation range around 1.0970. Possibly, today the pair may start a new decline towards 1.0966 and then grow to reach 1.1001. After that, the instrument may resume trading downwards with the target at 1.0937. GBPUSD, “Great Britain Pound vs US Dollar” After completing the descending […]
AUDUSD, “Australian Dollar vs US Dollar” In the H4 chart, AUDUSD is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if […]
Type: Bearish DipKey Levels:Resistance: 19.89Pivot: 19.63Support: 19.05Preferred Case:Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement. We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is […]
Type: Bullish PressureKey Levels:Resistance: 228.10Pivot: 220.20Support: 214.00Preferred Case:Price is near pivot level of 220.20 in line with 50% Fibonacci retracement. Price can potentially rise up to the 1st resistance level at 228.10, in line with 61.8% Fibonacci projection, with a graphical swing high resistance. Our bullish bias is further supported by price trading above the […]
Type: Bearish ReversalKey Levels:Resistance: 69714Pivot: 69237Support: 67255Preferred Case:Prices have recently bounced off a pivot and are on bearish momentum We see the potential for further bearish continuation from our Pivot at 69237 in line with 38.2% Fibonacci retracement and graphical overlap towards our 1st support at 67255 in line with 38.2% Fibonacci Retracement. Our bearish […]
Type: Bearish DropKey Levels:Resistance: 1759’2Pivot: 1070’6Support: 1637’4Preferred Case:Prices are on bearish momentum. We see the potential for a dip from our pivot at 1070’6 which is a graphical overlap towards our 1st support at 1034’0 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.0960; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1020 and then resume moving downwards to reach 1.0755. Another signal in favour of a further downtrend will be […]
EURUSD, “Euro vs US Dollar” Having completed another descending wave at 1.0960, EURUSD is consolidating near the lows. Possibly, today the pair may extend the descending wave to 1.0940 and then start a new growth with the target at 1.1000. GBPUSD, “Great Britain Pound vs US Dollar” After breaking 1.3176 to the downside, GBPUSD is […]