Category: Technial Analysis
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3498; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3525 and then resume moving downwards to reach 1.3365. Another signal in favour of a further downtrend will […]
Price Shift Coming? GBPCAD price action is catching my eye here. The market has been trading higher within a broad bullish channel over recent months. However, price is now potentially carving out a large double top pattern with strong bearish divergence on momentum studies. The market is now turning lower, about to test the 1.7198 […]
Risk Aversion Seen on ThursdayGlobal markets are in heavy risk-off mode today in response to news of Russia invading Ukraine. News broke in the early hours of the morning that Russia had launched an attack on several front, firing missiles, rolling troops in and deploying troops by air. There have been reports of mass casualties […]
USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming an Engulfing reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, the upside target may be the resistance area at 1.2815. However, an alternative scenario implies that the […]
Type: Bearish DipKey Levels:Resistance: 14372.25Pivot: 13842.25Support: 12724.25Preferred Case: Price has recently broken through a key support level and near pivot level of 14034 in line with 38.2% Fibonacci retracement . Price can potentially dip to the support level of 13624 in line with the horizontal swing low support . Our bearish bias is supported by […]
Type: Bullish ContinuationKey Levels:Resistance: 154’09Pivot: 152’21Support: 151’15Preferred Case: Price is near pivot level of 152’21 in line with 50% Fibonacci retracement. Price can potentially go to the 1st resistance of 154’09 which is also the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above the […]
EURUSD, “Euro vs US Dollar” EURUSD is consolidating around 1.1324. Possibly, today the pair may fall to break 1.1284 and then continue trading downwards with the target at 1.1255. GBPUSD, “Great Britain Pound vs US Dollar” Having reached 1.3540 and then completed the correction at 1.3585, GBPUSD is consolidating below the latter level. Possibly, the […]
USDJPY, “US Dollar vs. Japanese Yen” In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then grow to reach the resistance at 8/8. However, this scenario may no longer be valid if the […]
NZDCAD Breaks OutThe rally in NZD on the back of the February RBNZ meeting overnight has seen the NZDCAD breakout idea from .8553 hitting its first target at .8631. With the retail market heavily short the pair and with both MACD and RSI bullish here, the focus is on a continuation higher while 8553 holds, […]
NZD In The Driving SeatThe New Zealand Dollar has been the strongest performer across the European open today, extending the rally seen over the Asian session in response to the latest RBNZ meeting. As expected, the RBNZ hiked rates again overnight, marking the third consecutive rate rise, to take the bank’s headline rate back up […]