Category: Technial Analysis
The Canadian dollar recovers from a four-week low as investors assess US inflation data. On Tuesday, the Canadian dollar edged higher against the US dollar, recovering from its lowest level in nearly four weeks, as oil prices rose and US data showed underlying inflation rising less than expected in March. The 12-month increase in core […]
Type: Bearish DropKey Levels:Resistance: 1131’6Pivot: 1107’0Support: 1075’2Preferred Case:Prices are at a pivot . We see the potential for a dip from our pivot at 1107’0 in line with which is an area of Fibonacci confluences towards our 1st support at 1075’2 in line with 38.2% Fibonacci retracement. RSI is at levels where pullbacks previously occurred, […]
Type: Bearish ReversalKey Levels:Resistance: 1697’4Pivot: 1680’0Support: 1652’4Preferred Case:We see the potential for a bearish reversal from our pivot at 1680’0 in line with 61.8% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st support at 1652’4 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the RSI indicator […]
• WTI reversed from key support level 93.50• Likely to rise to resistance level 105.00 WTI crude oil today reversed up sharply from the key support level 93.50 (which formed the daily Mornign Star in March) – standing near the 38.2% Fibonacci correction of the upward price impulse from December. The upward reversal from the […]
• AUDCHF reversed from pivotal support level 0.6900• Likely to rise to resistance level 0.7000 AUDCHF currency pair today reversed up sharply from the pivotal support level 0.6900 (which stopped the previous corrective wave (iv) at the end of March). The support zone near the support level 0.6900 is strengthened by the 38.2% Fibonacci correction […]
USDJPY continues rising; the Yen is surrendering. The Japanese Yen continues its free-fall against the USD. The current quote for the instrument is 125.65. The Yen hasn’t been able to act as a “safe haven” asset for a long time, although financial and capital markets remain very rough. So, what’s going on? As a rule, […]
EURUSD, “Euro vs US Dollar” EURUSD is still consolidating around 1.0870. If the price breaks this range to the downside, the instrument may start a new decline with the target at 1.0804 or even extend this structure down to 1.0750. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD continues consolidating around 1.3030. Possibly, the pair […]
Today, Shell International resumed shipment of liquefied natural gas (LNG) from the Prelude facility, the world’s largest floating LNG terminal, located off northwest Australia, after a 4-month shutdown due to a major blackout. A Shell spokesman said that a shipment of liquefied gas had completed its loading and had left the site, yesterday evening, Sunday, […]
BTC Approaching Key SupportThe fall back in risk appetite over the last two weeks has hit crypto assets hard. BTC has reversed from recent highs around 4800, taking out two key support levels as both MACD and RSI turn lower. BTC is now approaching a major support region at the rising channel low and 37030 […]
US CPI Up NextLooking ahead to today’s US session and the key focus will be the release of US CPI for March. In light of hawkish comments from various Fed members last week, as well as further hawkish details in the FOMC minutes, today’s data holds the power to drive USD further higher. In terms […]