Category: Technial Analysis

• Gold broke key support level 1950.00• Likely to fall to support level 1880.00 Gold recently broke the key support level 1950.00, intersecting with the 38.2% Fibonacci correction of the upward impulse from January. The breakout of the support level 1950.00 coincided with the breakout of the support trendline of the daily up channel from […]

• AUDCHF reversed from support level 0.6730• Likely to rise to 0.6860 AUDCHF currency pair recently reversed up from the key support level 0.6730 (which has been reversing the pair from the start of this month). The support zone near the support level 0.6730 was strengthened by the 38.2% Fibonacci correction of the upward impulse […]

USDJPY passed the highs of December 2016 and intends to continue the rally. The Japanese Yen plummeted against the USD and may get even weaker. The current quote for the instrument is 118.28. The last times the Yen was so low was in December 2015 and 2016, when the asset reached 123.00. Intriguingly, the Japanese […]

EURUSD is consolidating and waiting for the March meeting of the US Fed to be over.  The major currency pair slowed down its growth and is currently waiting for news. The latest quote for the instrument is 1.0997. The two-day meeting of the US Fed is scheduled to be over later today. It’s hard to […]

All Eyes On The FedThe US Dollar is trading a little softer ahead of the March FOMC decision later today. However, with the Dollar index sitting just off highs, traders are braced for a USD breakout if the Fed delivers on hawkish signals ahead of the meeting. The market is widely expecting the bank to […]

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 […]