Category: Technial Analysis

Type: Bearish ReversalKey Levels:Resistance: 746’7Pivot: 729’0Support: 696’2Preferred Case:Price is approaching our pivot level of 729’0 in line with 138.2% Fibonacci extension. We see the potential for a further dip towards our 1st support level of 696’2 in line with 23.6% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is […]

UK Inflation Hits Fresh 30 Year HighsThe British Pound’s reaction to the latest UK inflation data today serves as an important example of how perspective and context are crucial in gauging market response to economic data. If we look back to the tail end of last year, GBP was rising as UK inflation continued to […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support area. At the moment, EURUSD is reversing and may form a new ascending impulse. In this case, the upside target may be at 1.1110. However, an alternative scenario implies that […]

CADJPY Keeps GoingThe recent CADJPY breakout idea has now hit its second target. Price has made a more than 5% move higher over the last week as risk appetite rebounds. CAD, along with other higher-yielding currencies, has benefitted from better risk sentiment, while JPY has seen a sharp move lower amidst weakened safe-haven inflow. Additionally, […]

Type: Bearish ReversalKey Levels:Resistance: 782’2Pivot: 765’0Support: 730’0Preferred Case:We see the potential for bearish dip from our Pivot level at 765’0 in line 61.8% Fibonacci retracement and 100% Fibonacci projection towards our 1st Support at 730’0 in line with 78.6% Fibonacci projection.Alternative Scenario:If price continues to go up, it can potentially move towards our 1st Resistance […]

EURCAD, “Euro vs Canadian Dollar” EURCAD is trading at 1.3878; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3895 and then resume moving downwards to reach 1.3685. Another signal in favour of a further downtrend will be […]

USDJPY, “US Dollar vs. Japanese Yen” In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to continue growing and reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at […]

Fixed-income markets of advanced economies show signs of recovery after a heavy sell-off on Tuesday. European currencies cede ground against USD after a brief rebound. US 10-year Treasury yield bounced off 2.40% and is moderately down. GBPUSD fall intensified after release of February inflation data, which together with the dovish BoE shift in March hit […]

Buybacks Start TomorrowShares in Japanese vehicle maker Toyota are trading higher today on news that the company will buy back around $826 million worth of shares this week. With shares in Toyota still sitting more than 10% down off the recent highs, the carmakers has said that it plans to be “more flexible” than ever […]

• FR40 reversed from resistance level 6700.00• Likely to fall to support level 6500.00 FR40 index recently reversed down from the resistance level 6700.00 (former support which has been reversing the price from February). The resistance level 6700.00 was further strengthened by the 61.8% Fibonacci correction of the downward impulse 1 from February. FR40 index […]