Category: Technial Analysis
Mixed Start For MetalsIt’s been a mixed start to the week for the metals market with plenty of two-way action seen already since the Asian open last night. Gold prices weakened initially but have since found better demand once again into the European open, these moves have been broadly tracked by silver also. The key […]
EURUSD, “Euro vs US Dollar” After finishing the descending wave at 1.1313 and then returning to 1.1366, EURUSD is consolidating below the latter level. Possibly, the pair may form a new descending structure to break 1.1323 and then continue falling towards 1.1255. On the other hand, if the price grows and breaks 1.1370, the market […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to test the resistance at 3/8, break it, and then continue growing to reach 4/8. Still, this scenario […]
The Russian Ministry of Finance and the Central Bank are unable to reach an agreement on how to cope with the rise of cryptocurrency. Despite the central bank’s worries, Russia’s finance ministry is sticking to its intentions to deploy Bitcoin technology. The debate between the Ministry of Finance and the Bank of Russia heated up […]
Gold prices fell today, Monday, after hitting their highest level in more than 8 months, at the beginning of the week’s trading. The plan of the US and Russian presidents to hold a summit on the Ukraine crisis led to a decline in the demand for safe haven, while looming further increases in federal interest […]
EUR Bid On Better DataThe Euro is catching a bid this morning following the release of the latest preliminary PMI data sets for February. The eurozone manufacturing PMI was seen dipping slightly to 58.4 from the prior month’s 58.7, in contrast to the 58.9 reading expected. However, despite the weakness in manufacturing, which was largely […]
Type: Bearish ContinuationKey Levels:Resistance: 153’30Pivot: 1513’15Support: 151’07Preferred Case:Price is trading in a descending channel and near pivot level of 153’15 in line with 50% Fibonacci retracement and 127.2% Fibonacci projection. Price can potentially dip to the 1st support level of 151’07 in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, the asset is testing the mid-term 61.8% fibo at 1908.00. Possibly, the pair may rebound and form a slight pullback, which may later be followed by a further uptrend. The next upside target is 76.0% fibo at 1969.00. The H1 chart shows […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1366; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1380 and then resume moving downwards to reach 1.1180. Another signal in favour of a further downtrend will be […]
Oil prices fell, today, Monday, after beginning the week’s trading earlier in the session on a rise. The markets are in a state of volatility, with investors looking for contradictory scenarios to tighten Russian energy supplies due to the Ukrainian crisis, and more crude oil entering the market amid indications of a possible nuclear agreement […]