Category: Technial Analysis
Another week comes to an end in financial markets and we’re also rounding out the first quarter of the year. We’ve seen plenty of action over the first three months of 2022 and this week proved no different with several big moves to focus on. Chatting with traders ahead of the weekend, however, it seems […]
Type: Bearish Drop Key Levels:Resistance: 15008 Pivot: 14912 Support : 14723 Preferred case: With price moving close to the ichimoku cloud resistance, we have a bearish bias that price will drop from our Pivot at 14912 in line pullback resistance and 78.60% Fibonacci retracement towards our 1st support at 14723 in line with the latest […]
Type: Bearish Reversal Key Levels:Resistance : 114.35 Pivot: 112.05 Support : 107.92 Preferred case: Prices have recently broken out of our ascending trendline support. We see the potential for a further bearish continuation from our Pivot at 113.23 in line graphical overlap and 23.6% Fibonacci retracement towards our 1st support at 112.05 in line with […]
Type : Bullish BounceKey Levels:Resistance : 2647Pivot: 2558Support : 2502Preferred case: We see the potential for bullish bounce from our Pivot level at 2558 in line 50% Fibonacci retracement towards our 1st resistance level at 2647 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by price trading above […]
• Germany 50 reversed from resistance level 32000.00• Likely to fall to support level 30000. Germany 50 index recently reversed down from the resistance level 32000.00 (which has been reversing the price from last January). The resistance zone near the resistance level 32000.00 was strengthened by the 61.8% Fibonacci correction of the downward impulse 1 […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new correctional impulse. In this case, the upside correctional target may be at 1.2575. However, an alternative scenario implies that the asset […]
BRENT As we can see in the H4 chart, Brent is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the […]
Type: Bearish Reversal Key Levels:Resistance : 1975.7 Pivot: 1965.9 Support : 19938.3 Preferred case: Prices have bounced off a Pivot. We see the potential for further bearish continuation from our Pivot at 112.05 in line graphical overlap and area of Fibonacci confluences towards our 1st support at 1938.3 in line with 50% Fibonacci Retracement. Our […]
GBPNZD Testing Key LevelThe sell off in GBPNZD has seen the pair collapsing by around 8% over the last month, shedding around 1600 pips! The decline has been firmly consistent with price blowing through several key support levels. The pair is now testing major support at the 1.8857 level, having broken through the rising trend […]
• AUDCAD reversed from resistance level 0.9425• Likely to fall to support level 0.9300 AUDCAD recently reversed down from the key resistance level 0.9425 (which has been reversing the price from last November) -strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 0.9425 stopped the previous intermediate ABC correction (2). […]