Category: Technial Analysis
EURUSD is trying to keep its positive momentum and remain “in the black”. The major currency pair is slowly growing on Friday. The current quote for the instrument is 1.1014. The statistics published yesterday by the US showed that the country’s labour market is eventually recovering. The Initial Jobless Claims was 187K after being 215K […]
NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is trading at 0.6977; 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 0.6935 and then resume moving upwards to reach 0.7095. Another signal in favour of a further uptrend will […]
USDNOK Testing Key Support USDNOK is attempting to breakout to the downside here. With the Dollar failing to find lift-off following the hawkish FOMC last week, and with crude prices turning higher again here, NOK is soaring against the greenback. The breakdown through the rising trend line has now seen the market trading down to […]
Oil Traders Cut Longs Further The latest CFTC COT institutional positioning report shows that oil traders cut their net long positions to four-month lows last week. The combined net-long position in oil now sits at just 411k lots, just above the 400k lows marked in December 2021 when oil turned lower in the face of […]
Type: Bearish DropKey Levels:Resistance: 1759’2Pivot: 1728’4Support: 1637’4Preferred Case:With price expected to reverse off the stochastics resistance , we have a bearish bias that price will drop to our 1st support at 1637’4 in line with the horizontal swing low support and 100% Fibonacci projection from our pivot at 1728’4 in line with the 61.8% Fibonacci […]
Type: Bullish BounceKey Levels:Resistance: 0.93967Pivot: 0.93013Support: 0.9228Preferred Case:On the H4, with price moving in an ascending channel and expected to bounce off the stochastics indicator, we have a bias that price will rise to our 1st resistance at 0.93967 in line with the 61.8% Fibonacci retracement from our pivot at 0.93013 in line with the […]
USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may be […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Harami pattern not far from the resistance level. At the moment, the asset is reversing in the form a new correctional impulse. In this case, the downside correctional target may be the support area at 1920.00. At the […]
SNB Holds Steady The March SNB monetary policy meeting today saw the central bank holding rates unchanged, as expected. In the statement issued alongside the decision, Jordan noted that the bank had “tolerated” a certain level of strengthening in CHF against other currencies, given the better inflationary environment in Switzerland. February CPI came in at […]
Type: BearishKey Levels:Resistance: 14829Pivot: 14642Support: 14270Preferred Case:With price expected to reverse off the stochastics resistance, we have a bearish bias that price will from our Pivot at 14870 in line pullback support and 78.6% Fibonacci retracement towards our 1st support at 14036 in line with the pullback support and 23.6% Fibonacci retreatment.Alternative Scenario:If prices were […]