Category: Technial Analysis
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 […]
• EURCHF broke support area• Likely to fall to support level 1.000 EURCHF continues to fall after the earleir breakout of the support area located between the key support level 1.0200 and the support trendline of the daily down channel from last September. The breakout of this support area accelerated the active impulse waves 3 […]
Over the last 24 hours, the BTC rate lost almost 5%. On Friday, it is moving at $41,425; investors have been selling the asset for the third consecutive session. One of the reasons for that might be a close correlation between Bitcoin and the US stock market, the NASDAQ index in particular. Another possible reason […]
EURUSD updated its lows of 2020 and may fall deeper. The major currency pair continues weakening on Friday. The current quote for the instrument is 1.1023. Demand for the USD can be explained by a global risk aversion. Yesterday was the second day the Fed Chairman Jerome Powell spoke to Congress. This time, he said […]
Type: Bullish BounceKey Levels:Resistance: 34359Pivot: 34359 Support: 32906Preferred Case:With price expected to bounce off the support of the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 34359 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement from our pivot of 34359 in line with […]
Type: Bullish RiseKey Levels:Resistance: 91.707Pivot: 90.948Support: 90.113Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 91.707 in line with the horizontal swing high resistance from our pivot of 90.948 in line with the 50% Fibonacci retracement and horizontal overlap support.Alternative Scenario:Alternatively, price […]