Category: Technial Analysis
It’s been an incredibly volatile week for markets, as traders react to the sad news of Russia invading Ukraine. We’ve seen big moves across the board given the large wave of risk aversion which has taken risk assets and higher yielding currencies lower and driven support for safe-haven assets such as gold, JPY and the […]
Type: Bullish ContinuationKey Levels:Resistance: 1975.3 Pivot: 1904.1 Support: 1890.5Preferred Case:Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 1904.9 in line with 23.6% Fibonacci retracement and 38.2% Fibonacci retracement towards our 1st support at 1975.3 in line with 100% Fibonacci Extension […]
BRENT As we can see in the H4 chart, Brent is trading within the “overbought area”. In this case, the price is expected to break 8/8 and then continue moving downwards to reach the support at 7/8. However, this scenario may no longer be valid if the asset breaks the resistance at +1/8 to the […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, XAUUSD has formed a Harami pattern not far from the support level. At the moment, the asset is reversing in the form a new rising impulse. In this case, the upside target may be the resistance area at 1960.00. At the same […]
Oil prices deepened their decline by about 2% during trading today, Friday, as Brent crude fell to less than 97 dollars, giving up the gains recorded in morning trading. The black gold was trading in the green range with gains of nearly 2% in early trading; Due to fears of disruption to global supplies, as […]
PCE In FocusLooking ahead to today’s US session, the key data focus will be the release of US core PCE for January. Given the hawkish shift from the Fed and the run of strong data we’ve seen recently, the market is poised for another strong reading today. With USD currently trading higher on safe haven […]
Type: Bearish ContinuationKey Levels:Resistance: 14394.75Pivot: 13986.75Support: 13133.25Preferred Case:On the H4, we can see that price is moving along the descending channel . This is signifying bearish momentum. We are expecting price to fall from pivot at 13986.75 which is in line with our 61.8% fibonacci retracement and horizontal swing high resistance to 1st support at […]
The cryptocurrency market is slowly reaching stability after a recent stress. It’s clear that the negative triggers didn’t go anywhere but investors are feeling up to normalising the rates. The situation for Bitcoin has changed over the last 24 hours. The BTC rate improved after the changes to the geopolitical sentiment. The correlation between the […]
EURUSD, “Euro vs US Dollar” After completing the descending wave at 1.1106 along with the ascending impulse towards 1.1182, EURUSD has formed a new consolidation range around the latter level; right now, it is trading to break the range to the upside. Possibly, today the pair may grow to reach 1.1257 and then resume trading […]
Despite ongoing skirmishes in Ukraine, risk assets post some signs of relief as the worst-case scenario for the Russian sting operation in Ukraine has been averted. Russian stocks rebounded shortly after the opening, RTSI rebounded 28%, MOEX added 12%, however later market sentiment started to deteriorate.Investors were scared that the local conflict in Ukraine would […]