Category: Technial Analysis
US CPI Up NextTraders will be closely watching today’s US CPI release for February. While a March rate hike is now fully priced in, on the back of recent comments from Fed chairman Powell, the market is now focusing on upside risks. Given events in Ukraine and the impact on global energy prices, inflation risks […]
ECB In FocusAlong with US CPI, today’s ECB meeting will be the main event of the week. On the back of a surprisingly hawkish shift by Lagarde in January, the market will be closely watching today to see how much the crisis in Ukraine has affected the bank’s view. In light of recent developments, the […]
AUDUSD has been “in the black” for the second week in a row despite natural disasters. The Australian Dollar is actively strengthening against the USD. The current quote for the instrument is 0.7336. One reason is that the improvement in global geopolitics has a positive influence on traded currencies. Another supporting factor comes from a […]
EURUSD successfully continues its positive momentum; all eyes are now on the Fed and statistics. The major currency pair recovered pretty much yesterday. The current quote for the instrument is 1.1041. The local improvement in geopolitical tensions had an immediate impact on EURUSD – the demand for the “safe haven” USD dropped and the European […]
Type: Bullish RiseKey Levels:Resistance: 13946Pivot: 13484 Support: 12294Preferred Case:On the H4 chart, price is near our pivot of 13118 in line with horizontal overlap support and 78.6% Fibonacci projection. Price can potentially rise to our 1st resistance level at 14405 in line with the 100% Fibonacci projection. Our bullish bias is supported by how price […]
Type: Bearish ReversalKey Levels:Resistance: 239.30Pivot: 232Support: 221.25Preferred Case:Price is near pivot level of 232 in line with 23.6% Fibonacci retracement. Price can potentially dip to the support level of 221.25 with a graphical swing low level. Our bearish bias is supported by prices trading under the Ichimoku cloud indicator. Alternative Scenario: Price could also head […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading within the “overbought area”. In this case, the price is expected to test 8/8, break it, and then continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks […]
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 […]