Category: Technial Analysis
European indices entered recovery path with a solid rebound after heavy sell-off on Tuesday, greenback, gold and other defensive assets pare down gains amid early signs of de-escalation of Ukraine conflict. This was mainly influenced by the softening position of the country’s leadership on Russian demands, as can be seen from yesterday’s interview with Zelensky. […]
Aeroflot Down 60%It’s been a dismal few weeks for Russian airliner Aeroflot. Shares in the company have fallen around 40% since the Russian invasion of Ukraine. Overall, prices are now down by almost 60% on the year, extending the declines seen over the end of 2021. Aeroflot has been hit hard by the West’s response […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Hanging Man reversal pattern close to the resistance level, USDCAD is reversing and may form a new correctional impulse. In this case, the downside correctional target may be at 1.2845. However, an alternative scenario implies that the asset […]
EURUSD, “Euro vs US Dollar” After forming a new consolidation range around 1.0886, EURUSD is correcting towards 1.0963. Later, the market may form a new descending structure to reach 1.0793 and then resume growing with the target at 1.1040. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is still consolidating below 1.3113. Possibly, today the […]
Type: Bullish ContinuationKey Levels:Resistance: 163’18Pivot: 159’16Support: 157’24Preferred Case:With price moving above the Ichimoku cloud, we have a bias that price will rise from our pivot of 156’00 in line with the 100% Fibonacci projection to our 1st resistance of 159’27 which is also the graphical swing high resistance. Alternative Scenario:Price may dip to the support […]
Type: Bullish BounceKey Levels:Resistance: 1751’4Pivot: 1639’6Support: 1581’4Preferred Case:With price moving above the Ichimoku cloud, we see the potential for a bounce from our Pivot at 1694’2 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1757’4 in line with horizontal swing high resistance. Alternative Scenario:Alternatively, price can potentially dip towards our 1st support […]
EURUSD has been correcting and moving away from the local lows for the second consecutive trading session. The major currency pair continues recovering after plunging earlier this week. The current quote for the instrument is 1.0969. A plunge in EURUSD was the result of investors’ demand for “safe haven” assets, the situation which is very […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF is trading at 0.9284; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9255 and then resume moving upwards to reach 0.9370. Another signal in favour of a further uptrend will be […]
CIBCFX FlowsRBA Governor Lowe spoke at the AFR Business Summit, indicated that it is plausible for cash rate to be raised later this year but RBA has the time to wait and see before acting. AUD$ barely moved, traded narrow range. Even slight risk-on sentiment didn’t do much. We think that there are still ongoing […]
Type: Bearish ReversalKey Levels:Resistance: 20.15Pivot: 19.78Support: 19.01Preferred Case:We see the potential for bearish reversal from our Pivot at 18.78 in line 161.8% Fibonacci extension towards our 1st resistance at 20.15 with a graphical swing high. Our bullish bias is further supported by stochastic indicator whereby prices are at resistance level.Alternative Scenario: If prices were to […]