Category: Technial Analysis

Type: Bullish continuationKey Levels:Resistance: 19.46Pivot: 18.78Support: 18.30Preferred Case:Prices are on bullish momentum. Prices might potentially move from pivot level of 18.78 in line with 100% Fibonacci projection and 61.8% Fibonacci retracement towards the 1st resistance level at 19.46 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is further supported by […]

• CADCHF reversed from resistance level 0.7300• Likely to fall to support level 0.7250. CADCHF currency pair recently reversed down from the pivotal resistance level 0.7300 (which has been reversing the pair from the start of February). The resistance zone near the resistance level 0.7300 was strengthened by the upper daily Bollinger Band and by […]

• USDCAD reversed from support level 1.260• Likely to rise to resistance level 1.2800 USDCAD currency pair recently reversed up from the key support level 1.260 (which has been reversing the pair from the end of January). The upward reversal from the support level 1.260 stopped the previous intermediate ABC correction 2. Given the prevailing […]

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1100; 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 1.1195 and then resume moving downwards to reach 1.0885. Another signal in favour of a further downtrend will be a […]

USDCHF, “US Dollar vs Swiss Franc” As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to rebound from 7/8 and then resume falling to reach the support at 5/8. However, this scenario may be cancelled […]

Gold prices rose in trading on Thursday, in conjunction with the continuing conflict between Russia and Ukraine, which boosted demand for the precious metal as a safe haven. Yesterday, Wednesday, gold prices ended down by more than $21, recording the first drop in 3 sessions, coinciding with the rise of the dollar and US stocks. […]

Type: Bearish DownsideKey Levels:Resistance: 33949Pivot: 33401Support: 32157Preferred Case:Price near pivot level of 33401 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci retracement . Price can potentially dip to the 1st support level of 32157 in line with 100% Fibonacci extension and 50% Fibonacci retracement . Our bearish bias is supported by prices trading below […]

Type: Bullish ReversalKey Levels:Resistance: 18.97Pivot: 18.25Support: 18.03Preferred Case: Price has already broken out of descending trendline and thus we are seeing a bullish reversal. Price is near pivot level of 18.25 in line 23.6% Fibonacci retracement. We expect price to reversal upwards to the resistance level of 18.97 in line with 78.6% Fibonacci retracement and […]

EURUSD remains under pressure amid high demand for “safe haven” assets.   The major currency pair remains weak. The current quote for the instrument is 1.1103. As it usually happens early in the month, the economic calendar is very eventful and offers a lot of data. For example, the CPI in the Euro Area showed […]

EURUSD, “Euro vs US Dollar” After rebounding from 1.1142, EURUSD continues forming the descending wave towards 1.1044. Later, the market may correct to reach 1.1144 and then resume trading downwards with the target at 1.1010. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is consolidating around 1.3354. Possibly, today the pair may grow towards 1.3410 […]