Category: Technial Analysis

Type: Bullish ContinuationKey Levels:Resistance: 1964.4Pivot: 1935.3Support: 1923.7Preferred Case:Prices are consolidating in a triangle pattern. We see the potential for further bullish continuation from our Pivot at 1935.3 in line 23.6% Fibonacci retracement towards our 1st resistance at 1964.4 in line with 78.6% Fibonacci Extension and 100% Fibonacci Extension. Our bullish bias is further supported by […]

GBPCAD Continues LowerThe downward trend in GBP this week has been most obvious against commodity currencies. With surging oil prices supporting CAD, and with the BOC kicking off its tightening operation this week, the GBPCAD short trade has continued develop with price now hitting the second target at 1.6853. With both MACD and RSI firmly […]

Type: Bullish ContinuationKey Levels:Resistance: 25.660Pivot: 25.150Support: 24.960Preferred Case:Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 25.150 in line 23.6% Fibonacci retracement towards our 1st resistance at 25.660 in line with 78.6% Fibonacci Extension. Our bullish bias is further supported by […]

Another spike in the dollar FRA-OIS spread (an indicator of credit and liquidity risk in the interbank market) suggests that stress mounts in the dollar funding market. And although it is far from the levels of the spring 2020, the demand for dollars is growing because of this. Today’s Payrolls report may also strengthen the […]

WithFed chairman Powell having confirmed the Fed’s intentions to hike rates at thecoming March meeting, the prospect of today’s data creating any meaningful liftin USD appears slim. Unless we see a strong, strong upside beat on the keynumbers, the impact is likely to be rather muted. Indeed, with the NFP andaverage hourly earnings both expected […]

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 break 7/8 and then continue moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the asset breaks the support at 6/8 […]

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 target may be at 1.1100. However, an alternative scenario implies that […]

Oil Prices Rise 5%.. Brent Crude Is Above $115 Oil prices consolidated their gains by about 5% during trading on Friday, with Brent crude rising above $115, amid fears of Western sanctions that could hamper Russian oil exports, outweighing the possibility of an increase in Iranian supplies. Global stocks fell, and oil prices rose amid […]

Type: Bearish ReversalKey Levels:Resistance: 115.597Pivot: 115.491Support: 115.119Preferred Case:Prices are abiding to a daily ascending trendline. We see the potential for further bearish continuation from our Pivot in line with 38.2% Fibonacci retracement towards our 1st support at 115.119 in line with 61.8% Fibonacci extension. RSI is close to levels where dips previously occurred, supporting our […]

Type: Bearish ReversalKey Levels:Resistance: 98.486Pivot: 98.104Support: 97.411Preferred Case:Prices are at a key resistance at our pivot at 98.104 which is an area of Fibonacci confluences. We see the potential for a short pullback from our Pivot at 98.104 in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and 161.8% Fibonacci Projection towards our 1st support […]