Category: Technial Analysis

• Dax reversed from resistance zone• Likely to fall to support level 3.000 Dax index recently reversed down from the resistance zone lying between the key resistance level 3220.0 (former strong support from last year) and the 38.2% Fibonacci correction of the earlier downward impulse from last month. The downward reversal from this resistance zone […]

• EURCHF broke key support level 1.0300• Likely to fall to support level 1.0200 EURCHF currency pair under the bearish pressure after the earlier breakout of the key support level 1.030 (which has been reversing the pair from the end of January). The breakout of the support level 1.030 accelerated the active impulse waves 3 […]

Ukraine Holding Off Russian AttackIn terms of the market’s main geo-political focus right now, the Russian invasion of Ukraine, we have seen plenty of developments over the weekend which are influencing price action on Monday. The bottom line is that the Ukrainian military is so far holding off against the Russian invasion with the capital […]

Busy Start For MetalsIt’s been a volatile start for metals traders as markets digest the developments over the weekend. With the Russian invasion of Ukraine yet to mark any significant progress and with Western sanctions against Russia building, there is a very tentative hope that peace talks between Russia and Ukraine might yield a ceasefire.The […]

EURUSD, “Euro vs US Dollar” In the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test the support at 2/8, break it, and then continue falling to reach 1/8. Still, this scenario may no longer be valid if the […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, after a slight correction, the upside target may be the resistance area at 1.2865. However, an alternative […]

Gas prices rose more than 35% today, Monday, despite the Russian company Gazprom’s confirmation that it will continue to supply gas to its customers in Europe through Ukraine. The surge in prices comes in conjunction with the Russian-Ukrainian war entering its fifth day, amid fears of supply disruptions due to the escalation of Western sanctions […]

Gold prices rose today, Monday, at the beginning of the week’s trading, by about 25 dollars, to rise to the record level of 1914 dollars, after fears increased, after Russian President Vladimir Putin put the Russian nuclear deterrent on high alert. Palladium jumped about 6% as new Western sanctions against Russia increased and concerns over […]

As geopolitical tensions increased sharply on Monday, policy tightening cycles of central banks and inflation challenges have been pushed deeper on the sidelines. The focus remains entirely on military operations in Ukraine, as well as the sanctions war between the West and Russia. The third package of EU sanctions, including financial, transport, technological, export and […]

GBPCAD Turning LowerThe short idea issued last week in GBPCAD has now hit its first target at 1.7041. The decline from the double top level has seen the market breaking down through the bull channel support with price now testing the 1.7041 level. With the retail market heavily long the pair and with both MACD […]