Category: Technial Analysis
Credit AgricoleAsia overnightThe rise in the UST 10Y yield to nearly 1.80% post the US non-farm payrolls data modestly weighed on sentiment during the Asian session. Adding some weight to sentiment were newswire reports of the first omicron variant cases of Covid in Mainland China. At the time of writing, a modest majority of Asian […]
Type: Bearish ReversalKey Levels:Resistance: 1.36251Pivot:1.35984Support: 1.3557Preferred Case:Prices are abiding to a bullish trendline and forming a potential double top. We see the potential for a reaction dip from our Pivot at 1.35984 in line with 61.8% Fibonacci extension towards our 1st support at 1.3557 in line with 38.2% Fibonacci retracement. RSI is at a level […]
• Dow Jones reversed from resistance level 36800.00, • Likely to fall to support level 35000.00 Dow Jones index recently reversed down with the daily bearish Engulfing from the resistance level 36800.00, intersecting with the upper daily Bollinger Band and the weekly up channel from September. The downward reversal from the resistance level 36800.00 started […]
• USDCAD reversed from support level 1.2615 • Likely to rise to resistance level 1.2800 USDCAD currency pair recently reversed up from the key support level 1.2615 (which has been reversing the price from the start of December), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (1) […]
Beware Correction RisksThe breakout trade in GBPNZD from 1.9690 has now hit its target at 2.0064. With the retail market still firmly short the pair and with both MACD and RSI bullish, there is room for a continuation higher here. However, given the recent move and the current stalling at the resistance area marked, some […]
Metals Higher Following Mixed US Labour ReportIt’s been a quiet start to the week for metals markets though both gold and silver are trading in the green over the European session so far on Monday. Friday’s US jobs report failed to deliver the USD upside that many were anticipating, creating some room for metals to […]
Despite relatively upbeat NFP report, the dollar was down on Friday. This is somewhat surprising as the odds of a Fed rate hike in March rose after the report. If before the report, the chances were 66%, then on Monday they rose to 70%:Currently the markets price in three rate hikes in 2021. It is […]
NZDCAD Looking To Break LowerNZDCAD has been moving in a broad bearish channel over the last year and price is now threatening to take another leg lower. NZD has been among the currencies hardest hit by the recent fall-back in risk appetite. Hawkish Fed expectations, fuelled by the December FOMC minutes last week, have spooked […]
Type: Bullish BounceKey Levels:Resistance: 116.327Pivot: 115.624Support: 115.332Preferred Case:Prices are on bullish momentum and abiding to our bullish channel. We see potential for a buy from our Pivot at 115.624 in line with 50% Fibonacci retracement and 23.6% Fibonacci retracement towards our 1st resistance at 116.327 in line with 127.2% Fibonacci extension. Ichimoku clouds are showing […]
Type: Bullish BounceKey Levels:Resistance: 1.27905Pivot: 1.27067Support: 1.26655Preferred Case:With price moving within the ascending channel, we have a bullish bias that price will rise to our 1st resistance at 1.27905 which is in line with horizontal swing high resistance and 78.6% Fibonacci retracement from pivot at 1.27067, which is in line with horizontal swing low support […]
