Category: Technial Analysis
CIBCFX FLOWSFixing demand for $YEN but was subsequently sold by Japanese, believed to be the usual exporters. I also learned that the retail sector was also selling, adding to short USD positions. Japanese names also sold EUR¥ which has gotten several specs bullish. $YEN stayed under pressure, 10-year UST yields closed 1.96% over in North […]
Type: Bullish ContinuationKey Levels:Resistance: 15621.25Pivot: 14826.75 Support: 14510.25Preferred Case:Price is near pivot level of 14826.75 in line with 50% Fibonacci retracement. Price can potentially go top the resistance level of 15261.25 which is also 50% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator.Alternative Scenario:Price can potentially dip […]
USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency; right now, the asset is rebounding from the resistance at 8/8. In this case, the price is expected to correct down to the support at 6/8. However, […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Stick Sandwich reversal pattern not far from the support level, XAUUSD is reversing and may continue forming its rising impulse. In this case, the upside target remains the resistance area at 1840.00. At the same time, an opposite scenario […]
On Wednesday, Romania’s central bank raised its key interest rate by more than expected, predicting that inflation will hit double digits in the second quarter, fueled by rising energy prices, and will remain above goal for longer. The bank increased its key rate by 50 basis points to 2.50 % , keeping it at the […]
Uber Up NextAs US earnings season rolls on, Uber is up next to report today. The company has seen its share prices trending steadily lower since the highs printed early last year. The group saw strong performance over the peak of the pandemic with a record surge in food deliveries offsetting the drop in transport. […]
Cryptos On The ReboundFollowing months of heavy losses, cryptocurrencies are finally starting to rebound in February. BTC has now recovered almost 40% off the lows printed in January while ETH has climbed by almost 50%. Much has been made of the cascade we’ve seen since the all-time highs printed last year with many calling for […]
• Costco broke resistance level 526.40 • Likely to rise to resistance level 560.00 Costco continues to rise after the earlier breakout of the resistance level 526.40 (top of the previous waves (B) and (1)). The breakout of the resistance level 526.40 accelerated the active medium-term impulse wave (3). Given the clear daily uptrend – […]
EURUSD, “Euro vs US Dollar” EURUSD is still consolidating around 1.1425. Possibly, today the pair may grow towards 1.1435 and then fall with the short-term target at 1.1386. Later, the market may correct to test 1.1420 from below and then resume trading downwards to break 1.1380. After that, the instrument may continue falling to reach […]
EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1420; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1370 and then resume moving upwards to reach 1.1565. Another signal in favour of a further uptrend will be a […]