Category: Technial Analysis

EURUSD is consolidating at the beginning of a new week.  The major currency pair is looking neutral on Monday. The current quote for the instrument is 1.1357. Market players are obviously saving their strengths while watching the global market – politicians are making too many moves. It means that the demand for “safe haven” assets […]

Financial markets will start next week with a reassessment of geopolitical risks, probably pricing in further aggravation of the situation in Ukraine and a new round of involvement of world powers in this conflict. This was facilitated by the message on Friday that the self-proclaimed republics of the DPR and LPR began the evacuation of […]

During a discussion at Columbia University, the head of the St. Louis FRB, James Bullard, warned that without urgent action to raise interest rates, inflation could worsen further, writes CNBC.“Now we are at greater risk than ever; inflation could get out of hand,” he said, calling for a full percentage point rate hike by July.According […]

Type: Bearish ReversalKey Levels:Resistance: 96.092Pivot: 95.944Support: 95.648Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 95.944 in line with 38.2% Fibonacci retracement towards our 1st support at 95.648 in line with 61.8% Fibonacci extension. RSI is showing bearish momentum.Alternative Scenario:Alternatively, prices […]

Looking To BreakoutThe New Zealand Dollar has been one of the best performers this week as a hawkish shift in RBNZ expectations is helping support NZD. Given the heavily bearish sentiment we’d seen up until the last week, there is plenty of position covering going on which is helping drive NZD higher here.One chart which […]

Type: Bullish BounceKey Levels:Resistance: 157.128Pivot: 156.4 Support: 156.053Preferred Case:Prices are consolidating in a triangle pattern. We see the potential for bullish continuation from our Pivot at 156.4 in line with 38.2% Fibonacci retracement and 38.2% Fibonacci retracement towards our 1st resistance at 157.128 in line with 61.8% Fibonacci retracement. Prices are transcending above our Ichimoku […]

BRENT As we can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming another Hammer reversal pattern close to the support level, USDCAD is reversing and may form a new ascending impulse. In this case, the upside target may be the resistance area at 1.2815. However, an alternative scenario implies that the […]

Leaving for the weekend, there seem to be more questions about the Russian-Ukrainian tension than there are answers. The diplomatic game is likely to extend much longer than for the upcoming week, which adds to the confidence that traditional safe heavens and greenback will remain immune to sellers’ encroachments for some time.Despite some signs of […]

Amazon Shares at Key JunctureFollowing some initial downside action in response to Q4 earnings, Amazon shares have since been back in demand. Amazon reported a strong beat on earnings per share, which rose to $27.76, well above the $3.61 forecasts. Revenues, however, were slightly lower, which resulted in some short term selling, before price rebounded […]