Category: Technial Analysis
• GBPCAD broke key support level 1.670• Likely to fall to support level 1.6575 GBPCAD recently broke the key support level 1.670 (which has been reversing the price from the start of November). The breakout of the support level 1.670 continues the active short-term impusle wave (iii) of the higher order impulse wave 3 from […]
The crypto market is once again experiencing a local decline and there is a fundamental reason for that. Yesterday, the US reported on the February inflation and the indicator skyrocketed to its 40-year high, 7.9% y/y. Investors were expecting the actual reading to be quite high but the reality turned out to be much more […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Hanging Man pattern not far from the resistance level. At the moment, the asset is reversing in the form a new descending impulse towards the rising channel’s downside border. In this case, the downside correctional target may be […]
Gold prices fell on Friday, with US Treasury yields rising overnight, on the back of rising inflation data. Despite the decline, the precious metal is heading for a second consecutive weekly gain, supported by growing fears of political tensions, as talks between Russia and Ukraine have made no progress. And gold prices ended their trading, […]
The ECB held a monetary policy meeting on Thursday and sort of announced a reduction in stimulus. However, given recent geopolitical events, markets were clearly hoping for more. EURUSD rallied towards 1.11 in the run up to the meeting on the back of expectations that buying frenzy in commodity markets and inflation pressures related to […]
Oil PlungesAnother week comes to a close in financial markets and it’s been another week of hoping the violence in Ukraine comes to an end. While, sadly, that doesn’t seem to be the case for now, we have at least had plenty of interesting market moves to be focusing on. Chatting with traders this week, […]
Gold reversed from long-term resistnace level 2075.00• Likely to fall to support level 1900.00 Gold recently reversed down from the powerful long-term resistnace level 2075.00 (which stopped the previous sharp upward trend in the middle of 2020) – standing far above the daily and the weekly Bollinger Bands. The downard reversal from the resistnace level […]
• NZDCAD reversed from resistnace level 0.8750• Likely to fall to support level 0.8650 NZDCAD recently reversed down from the key resistance level 0.8750 (which has been reversing the price from the start of December). The resistance zone near the resistance level 0.8750 was strengthened by the upper daily Bollinger Band and by the 61.8% […]
EURUSD has to fall after the US reported on the Consumer Price Index. The major currency pair is back to falling. The current quote for the instrument is 1.0976. The risk appetite dropped yesterday after the US reported on inflation in February. The indicator showed 7.9% y/y, the highest reading in 40 years. What does […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1001; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1045 and then resume moving downwards to reach 1.0725. Another signal in favour of a further downtrend will be […]