Category: Technial Analysis

Type: Bearish ReversalKey levels:Resistance: 34996Pivot: 34213Support: 33286Preferred Case:Price near pivot level of 34213 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially dip to the 1st support level of 33286 in line with 38.2% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator. Alternative Scenario: Alternatively, price may […]

EURUSD continues recovering after plummeting earlier.   The major currency pair is recovering. The current quote for the instrument is 1.1175. The local improvement of the EUR rate is looking rather logical; however, there are chances that the rate might resume falling in the nearest future amid active demand for “safe haven” assets, such as […]

AUDUSD is growing after the RBA kept its monetary policy intact.  The Australian Dollar is quickly rising against the USD on Tuesday. The current quote for the instrument is 0.7264. The way the March meeting of the Reserve Bank of Australia went was quite predictable. The benchmark interest rate remained unchanged at 0.10%, just as […]

AUD in DemandThe Australian Dollar has been higher today on the back of the RBA’s March meeting, held overnight. While the bank held off from tightening its monetary policy, expectations remain broadly hawkish with several regional banks having recently lifted their growth forecasts for Australia. The RBA itself, lifted its inflation target, citing the war […]

ETH Bouncing BackPrice action in Ethereum is looking particularly interesting now following the developments we’ve seen over recent weeks. The decline towards the 2422 level support was accompanied by clear, bullish divergence in momentum studies and found strong demand at a test of the level. With price now turning higher from that region we are […]

• 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 […]