Category: Technial Analysis

Type: Bullish ContinuationKey Levels:Resistance: 4.940Pivot: 4.497Support: 3.361Preferred Case:We see the potential for a further bullish bounce from our Pivot at 1924.0 which is a graphical swing low support and in line with 161.8% Fibonacci projection towards our 1st resistance at 1976.5 in line with 78.2% Fibonacci projection. Our bullish bias is further supported RSI being […]

Type: Bullish BounceKey Levels:Resistance: 19.87Pivot: 18.92Support: 18.33Preferred Case:Price is near the pivot level of 18.92 in line with a 50% Fibonacci retracement. We expect price to move towards 1st resistance level of 19.87 in line with 161.8% Fibonacci extension, along with a swing high resistance. Alternative Scenario:Price may break our pivot structure and head for […]

Type: Bullish RiseKey Levels:Resistance: 156’01Pivot: 150’15Support: 152’02Preferred Case:With price expected to bounce from the stochastic indicator, we have bullish bias that price will rise from our pivot of 150’15 in line with the horizontal swing low support to our 1st resistance of 156’01 in line with the horizontal pull back resistance and 50% Fibonacci retracement.Alternative […]

AUDUSD, “Australian Dollar vs US Dollar” In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 5/8, break it, and then continue falling to reach the support at 4/8. However, this scenario may no longer […]

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 level. At the moment, EURUSD is reversing and may form a new correctional impulse. In this case, the upside correctional target may be at 1.1100. However, an alternative scenario implies […]

Economic news from China today beat expectations in a positive way. Especially surprising was the growth of retail sales as the market set quite low expectations on the figure. Restrictions on mobility inside the country during the Lunar New Year, which were supposed to contain growth in retail consumption and social distancing measures introduced to […]

H&M Shares HigherShares in Swedish retailer H&M are trading a little higher today following news that the company’s retail sales growth jumped 23% in Q1. H&M reported a roughly $5 billion (49.17 billion SEK) jump, year on year, in the quarter ending in February. The strong rise in growth comes despite H&M noted it had […]

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.0971; 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 1.1015 and then resume moving downwards to reach 1.0685. Another signal in favour of a further downtrend will be […]

EURUSD, “Euro vs US Dollar” EURUSD is growing towards 1.0990 and may later form a new descending structure to reach 1.0880. After that, the instrument may resume trading upwards with the first target at 1.1125. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the descending wave at 1.3000 and forming a new consolidation range […]

Oil prices fell more than 7% in trading today, Tuesday, to record Brent crude, the level of $ 99 a barrel, with the release of the monthly OPEC report. OPEC kept estimates of global oil demand and supply growth unchanged this year, but noted that the war in Ukraine was accelerating inflation and could hurt […]