Category: Technial Analysis
Type: Bearish ReversalKey Levels:Resistance: 25.575Pivot: 25.240Support: 24.690Preferred Case:Prices are on bearish momentum and abiding to our descending trendline resistance. We see the potential for a further bearish continuation from our Pivot at 25.240 in line graphical overlap and 38.2% Fibonacci retracement towards our 1st support at 24.690 in line with 161.8% Fibonacci projection. Our bearish […]
Type: Bearish ReversalKey Levels:Resistance: 4.934Pivot: 4.709Support: 4.415Preferred Case:Prices are on bearish momentum and abiding by a descending trendline. We see the potential for a further bearish continuation from our Pivot at 4.709 in line graphical overlap, descending trendline and 61.8% Fibonacci retracement towards our 1st support at 4.415 in line with 61.8% Fibonacci projection. Our […]
Type: Bullish ContinuationKey Levels:Resistance: 2708Pivot: 2523Support: 2452Preferred Case:We see the potential for bullish continuation from our Pivot level at 2523 in line 23.8% Fibonacci retracement towards our 1st Resistance at 2708 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection . Our bullish bias is further supported by the stochastic indicator where price trading […]
Type: Bearish ReversalKey Levels:Resistance: 1963.6Pivot: 1948.2Support: 1894.9Preferred 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 1948.2 in line graphical overlap, 23.6% Fibonacci retracement towards our 1st support at 1894.9 in line with 127.2% Fibonacci projection. Our bearish bias […]
Type: Bearish ReversalKey Levels:Resistance: 4.934Pivot: 4.709Support: 4.415Preferred Case:Prices are on bearish momentum and abiding by a descending trendline. We see the potential for a further bearish continuation from our Pivot at 4.709 in line graphical overlap, descending trendline and 61.8% Fibonacci retracement towards our 1st support at 4.415 in line with 61.8% Fibonacci projection. Our […]
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 […]