Category: Technial Analysis
Type: Bearish ReversalKey Levels:Resistance: 2.05483Pivot: 2.04976Support: 2.03089Preferred Case:Prices have recently broke of our ascending trendline. We see the potential for further bearish drop from our Pivot at 2.04976 in line with 78.6% Fibonacci retracement towards our Take Profit at 1st support at 2.03089 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. RSI is […]
Type: Bullish BounceKey Levels:Resistance: 3412Pivot: 3041Support: 2837Preferred Case:Price is expected to bounce off the Ichimoku support and horizontal overlap support at our pivot of 3041. We are biased that price will rise to 1st resistance at 3412 in line with the 127.2% Fibonacci extension level and horizontal swing high resistance.Alternative Scenario:Alternatively, price may break pivot […]
Brent As we can see in the H4 chart, divergence on MACD made the asset start a new correctional decline after entering the post-correctional extension area between 138.2% and 161.8% fibo at 94.54 and 99.43 respectively. A breakout of the key support at 65.89 will lead to a reversal of the long-term tendency. The H1 […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1355; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1375 and then resume moving downwards to reach 1.1185. Another signal in favour of a further downtrend will be […]
Pound On The RiseGBP has seen better buying across the European morning on Wednesday in response to the latest CPI data out of the UK. The Office for National Statistics released its January inflation report, showing that consume prices were firmly higher once again last month. The headline CPI reading was seen at 5.5% on […]
CitiEuropean OpenThe risk rally from the NY session paused as markets assessed the state of play. G10 FX sat in a tight range while UST yields were down, led by the front end as we wait for FOMC minutes today. Overnight, the nominations for Biden’s Fed nominees faced resistance in the Senate and Bloomberg reported […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading within the “overbought area”. In this case, the price is expected to break 8/8 and then fall to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.1510. However, an alternative scenario implies that […]
Equity markets are on the rise on Wednesday as bullish momentum stretched for the second day in a row, at the same time, defensive assets, bonds and gold lost their footing amid a marked de-escalation of the Ukrainian conflict, although the West is expressing skepticism about the partial retreat of Russian troops from the Ukrainian […]
Type: Bullish ContinuationKey Levels:Resistance: 1880.4Pivot: 1852.6Support: 1837.3Preferred Case:Prices have recently broken out of our daily descending trendline and has experienced a trendline breakout. We see the potential for bullish continuation from our Pivot at 1852.6 in line with 23.6% Fibonacci retracement towards our 1st resistance at 1880.4 in line with 100% Fibonacci retracement.Alternative Scenario: If […]