Category: Technial Analysis
Gold prices are down $24, the biggest drop in a week Gold prices fell more than $24 in trading on Tuesday, the largest drop in a week, supported by a rise in US Treasury yields. The decline comes as investors await the US Federal Reserve’s decision to raise interest rates, as well as renewed hopes […]
Type: Bearish DropKey Levels:Resistance: 372Pivot: 363.9Support: 332Preferred Case:We see the potential for a further bearish drop from our Pivot at 363.9 in line swing high resistance towards our 1st support at 332 in line with 127.2% Fibonacci projection and 61.8% Fibonacci retracement . Our bearish bias is further supported prices trading below our Ichimoku clouds […]
Type: Bearish DipKey Levels:Resistance: 233.50Pivot: 221.45Support: 202.30Preferred Case: Price is near pivot level of 221.45 in line with 23.6% Fibonacci retracement. Price can potentially dip to the 1st support level of 202.30 which is a swing low support. Our bearish bias is further supported by price moving under the Ichimoku cloud indicator.Alternative Scenario: Price could […]
• EURGBP reversed from resistance level 0.8450• Likely to fall to support level 0.8360 EURGBP recently reversed down from the key resistance level 0.8450 (which has been reversing the price from the start of February). The resistance zone near the resistance level 0.8450 was strengthened by the upper daily Bollinger Band, resistance trendline of the […]
• S&P 500 reversed from support level 4140.00• Likely to rise to resistance level 4300.00 S&P 500 index recently reversed up from the key support level 4140.00 (which has been reversing the index from the middle of last year). The support zone near the support level 4140.00 was strengthened by the lower daily Bollinger Band. […]
AUDUSD is reaching stability after plunging earlier this week. The Australian Dollar is consolidating against the USD after plunging earlier. The current quote for the instrument is 0.7192. The commodity market is shaking, pulling the floor out from under the Aussie. Moreover, the coronavirus-related news from China is offering little room for optimism. Taken together, […]
GBPUSD updated its local “bottom”; the labour market statistics managed to smooth “negative vibes”. The British Pound is looking weak against the USD on Tuesday. The current quote for the instrument is 1.3046. Earlier this morning, the pair updated its local lows at 1.2997. It happened before the UK reported on the labour market – […]
Type: Bearish DropKey Levels:Resistance: 14644Pivot: 14099Support: 12558Preferred Case:We see the potential for a further bearish drop from our Pivot at 14099 in line swing high resistance and 78.6% Fibonacci retracement towards our 1st support at 12558 in line with the swing low support. Our bearish bias is further supported prices trading below our Ichimoku clouds […]
EURCAD Channel BreakEURCAD price action is worth monitoring here. The pair has been trading lower within a broad bearish channel over since Q3 last year. However, the recent test of the 1.3876 level support has seen price finding firm demand. With the pair potentially carving out a double bottom here, and both MACD and RSI […]
Price action in CADJPY is looking interesting here. Following the heavy sideways action we’ve seen over the year so fa, price now looks to be breaking higher. We’ve seen price breaking out above the contracting triangle which has framed price action over the last six months. Price remains within a larger rising wedge formation and, […]