Category: Technial Analysis

SNB Holds Steady The March SNB monetary policy meeting today saw the central bank holding rates unchanged, as expected. In the statement issued alongside the decision, Jordan noted that the bank had “tolerated” a certain level of strengthening in CHF against other currencies, given the better inflationary environment in Switzerland. February CPI came in at […]

Type: BearishKey Levels:Resistance: 14829Pivot: 14642Support: 14270Preferred Case:With price expected to reverse off the stochastics resistance, we have a bearish bias that price will from our Pivot at 14870 in line pullback support and 78.6% Fibonacci retracement towards our 1st support at 14036 in line with the pullback support and 23.6% Fibonacci retreatment.Alternative Scenario:If prices were […]

• Spain 35 index reversed from resistance level 0.94• Likely to fall to support level 8200.00 Spain 35 index recently reversed down with the daily Bearish Engulfing from the pivotal resistance level 8465.00 (former strong support from January and February). The resistance zone near the resistance level 8465.00 was strengthened by the 61.8% Fibonacci correction […]

USDJPY updating its 6-year highs; the “greenback” is in demand. The Japanese Yen dropped to the lows of December 2016 against the USD. The current quote for the instrument is 121.66. The “greenback’s” attack is too strong for the Yen to keep the balance. However, given the current circumstances, the weak JPY might still help […]

EURUSD is back to falling; investors are selling due to increased risks. The major currency pair found itself under pressure on Thursday. The current quote for the instrument is 1.0984. In the last 24 hours, risk aversion returned to global financial markets, including the currency one. There is an opinion that EURUSD might remain under […]

Type: Bearish ReversalKey Levels:Resistance: 19.89Pivot: 19.57Support: 19.09Preferred Case:Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic […]

Type: Bullish RiseKey Levels:Resistance: 14870Pivot: 14090Support: 13466Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will from our Pivot at 14090 in line pullback support and 23.6% Fibonacci retracement towards our 1st resistance at 14870 in line with the pullback resistance and 78.6% Fibonacci retracement .Alternative Scenario:If prices were […]

• Nikkei 225 broke resistance level 27870.00• Likely to rise to resistance level 28765.00 Nikkei 225 index recently broke through the resistance level 27870.00 (which has been reversing the price from the middle of December). The breakout of the resistance level 27870.00 was preceded by the breakout of the 61.8% Fibonacci correction of the downward […]

• Rolls Royce reversed from resistance level 0.94• Likely to fall to support level 0.850 Rolls Royce recently reversed down from the resistance level 0.94 (which has been reversing the price from the start of March). The resistance zone near the resistance level 0.94 was strengthened by the 50% Fibonacci correction of the downward impulse […]

EURUSD, “Euro vs US Dollar” Having completed the descending wave at 1.0963, EURUSD is consolidating around 1.1000. Today, the pair may expand the range down to 1.0960 and then form one more ascending wave with the target at 1.1048. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the descending structure at 1.3210 and then […]