Category: Technial Analysis
Type: Bearish ReversalKey Levels:Resistance: 432.7Pivot: 410.9Support: 374Preferred Case: Price is near pivot level of 410.9 which is also our previous high, Price can potentially reverse to the support level of 374 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator as it is at resistance […]
CreditAgricole Asia overnightGeopolitics continue to rule investor sentiment. News that theG7 is looking at coordinated sanctions against Russian exports, especially oil,sent oil and other commodity prices soaring in Asia. News out of China’s NPCover the weekend that signals it will be seeking to boost growth, have also pushedcommodity prices higher. Higher commodity prices are threatening […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.0875; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0955 and then resume moving downwards to reach 1.0605. Another signal in favour of a further downtrend will be a […]
EURUSD, “Euro vs US Dollar” After forming a new consolidation range above 1.0886 and breaking it downwards, EURUSD has reached 1.0830; right now, it is growing to return to 1.0886. Possibly, the pair may break the latter level upwards and then continue growing with the target at 1.0939. GBPUSD, “Great Britain Pound vs US Dollar” […]
Type: Bullish BounceKey Levels:Resistance: 244.90Pivot: 226.85Support: 214.55Preferred Case:Prices are on bullish momentum. We see the potential for a bounce from our Pivot at 226.85 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards our 1st resistance at 244.90 in line with 78.6% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator […]
Type: Bullish ContinuationKey Levels:Resistance: 163’18Pivot: 159’16Support: 157’24Preferred Case: Price has recently broken out of the descending trendline and at pivot level of 159’16 in line with 23.6% Fibonacci retracement. Price can potentially continue its rally to the 1st resistance level of 163’18 which is also the graphical overlap resistance. Our bullish bias is supported by […]
BTC remains under pressure but there is no panic or extra emotions. The connection might be the following: after the US published solid February data on its labour market, investors decided that the American economy was so strong that it might easily “survive” several rate hikes. However, one should pay attention to a small detail: […]
EURUSD continues falling and has already updated the lows of May 2020. The major currency pair continues plummeting. The current quote for the instrument is 1.0871. The demand for the USD as a “safe haven” asset in the currency market remains high. Moreover, the statistics published last Friday gave the “greenback” a significant boost. For […]
Ukraine Crisis Driving Defence Stocks HigherWithdefence stocks soaring amidst the violence in Ukraine and the uncertainty andfear spiralling out of that crisis, Lockheed Martin’s stock price has hitfresh, all-time highs. Lockheed is one of the leading, global aerospace anddefence companies. Given the massive uptick in global arms buying we are seeingas a result of Russia’s […]
It’s been a strong start to the week for metals markets with gold prices breaking out to fresh highs on soaring safe haven demand. Risk sentiment has taken another leg lower this week as traders digest the developments over the weekend with regard to the main geo-political driver currently; the crisis in Ukraine.The intensification of […]