Category: Technial Analysis

Type: Bearish ReversalKey Levels:Resistance: 69185Pivot: 68708Support: 66493Preferred Case:Prices have recently broken out of our ascending trendline and retested it. We see the potential for a further bearish continuation from our Pivot at 68708 in line graphical overlap and 78.6% Fibonacci projection towards our 1st support at 66493 in line with 61.8% Fibonacci projection ad 78.6% […]

CADJPY Breaks OutThe recent breakout trade in CADJPY has hit its first target at 94.06. With the retail market heavily short the pair and with both MACD and RSI firmly bullish, there is plenty of room for the pair to continue higher here with the next upside target at 96.30. The bounce in crude oil […]

BRENT 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 6/8, break it, and then continue moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the asset breaks the support […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the resistance area. At the moment, EURUSD is reversing and may form a new descending impulse. In this case, the downside target may be at 1.0970. However, an alternative scenario implies that […]

The Bank of England raised rates by 25 bp up to 0.75%, broadly in line with market consensus. Eight members out of nine voted in favor of the hike, one voted to leave the rate unchanged. Compared to the February meeting, officials’ opinions were divided much less hawkishly: at that time, four officials voted for […]

Type: Bearish MomentumKey Levels:Resistance: 220.95Pivot: 213.75Support: 200.60Preferred Case:Price is near pivot level of 213.75 in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. Price can potentially move towards the 1st support level which is graphical swing low support. Our bearish bias is further supported by price trading below the Ichimoku cloud indicator.Alternative Scenario:Price could […]

• CHFJPY broke key resistance level 127.00• Likely to rise to resistance level 129.00 CHFJPY recently broke the key resistance level 127.00 (previous multi-month high from January – which stopped the previous impulse wave (5)). The breakout of the resistance level 127.00 accelerated the active medium-term impulse wave (3). CHFJPY can be expected to rise […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3162; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3080 and then resume moving upwards to reach 1.3365. Another signal in favour of a further uptrend will […]

EURUSD, “Euro vs US Dollar” After reaching 1.1134, EURUSD continues the correction towards 1.1034. Later, the market may form one more ascending wave with the target at 1.1144. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the ascending wave at 1.3210, GBPUSD has formed a new consolidation range around 1.3143. Possibly, the pair may […]

Credit AgricoleAsia overnight Global risk-correlated assets continued trading with a bid tone as confidence grew that the global economy could withstand the triple threat of geopolitical, stagflation and monetary policy tightening risks. Indeed, despite their latest recovery, global energy prices remain well below their recent highs in part because hopes for a ceasefire in Ukraine […]