Category: Technial Analysis

Type: Bullish BounceKey Levels:Resistance: 2639Pivot: 2552Support: 2500Preferred Case:Price is near pivot level of 2552 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially bounce up to the 1st resistance level of 2639, in line with 78.6% Fibonacci projection, along with a graphical swing high resistance. Our bullish bias is further supported […]

• NZDCAD reversed from support level 0.8615• Likely to rise to resistance level 0.8775 NZDCAD recently reversed up with the daily Piercing Line from the key support level 0.8615 (which has been reversing the price from the start of March). The support zone near the support level 0.8615 was strengthened by the lower daily Bollinger […]

• Gold reversed from the key support level 1900.00• Likely to rise to resistance level 1960.00 Gold recently reversed up with the daily Hammer from the key support level 1900.00 (which has been repeatedly reversing the price from the middle of February). The support zone near the support level 1900.00 was strengthened by the lower […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2425. However, an alternative scenario implies that the asset may correct […]

EURUSD, “Euro vs US Dollar” Having finished the ascending impulse at 1.1040 and then formed a new consolidation range around this level, EURUSD has broken it to the upside to reach 1.1133. Today, the pair may start a new correction to return to 1.1040 and then resume trading upwards with the target at 1.1144. GBPUSD, […]

Type: Bearish ReversalKey Levels:Resistance: 25.140Pivot: 25.055Support: 24.690Preferred 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 25.055 in line with 23.6% Fibonacci retracement and graphical overlap towards our 1st support at 24.690 which is an area of Fibonacci confluences. Our […]

Type: Bearish DropKey Levels:Resistance: 1109’2Pivot: 1070’6Support: 1031’1Preferred Case:Prices are on bearish momentum and abiding by a descending trendline. We see the potential for a dip from our pivot at 1070’6 which is a graphical overlap and in line with 50% Fibonacci retracement towards our 1st support at 1031’0 in line with 61.8% Fibonacci Projection.Alternative Scenario:Alternatively, […]

Progress in peace talks between Ukraine and the Russian Federation in Istanbul today has become the main driver of recovery moves in risk assets and Forex. One of the key signals of de-escalation was the statement by a representative of the Russian Defense Ministry that “the Russian Ministry of Defense will significantly reduce military activity […]

Type: Bearish ReversalKey Levels:Resistance: 114.35Pivot: 112.05Support: 107.92Preferred Case:Prices are on bearish momentum and abiding by our descending trendline resistance. We see the potential for a further bearish continuation from our Pivot at 104.45 in line graphical overlap, 23.6% Fibonacci retracement and 127.2% Fibonacci extension towards our 1st support at 94.44 in line with 61.8% Fibonacci […]

After several trading sessions of growth, AUDUSD took a break.  The Australian Dollar is consolidating against the USD. The current quote for the instrument is 0.7481. Market players are focused on geopolitical tensions and energy prices growth, that’s why their responses to the statistics are rather restrained.  Earlier today, Australia reported on the Retail Sales […]