Category: Technial Analysis

Type: Bearish ReversalKey Levels:Resistance: 34682Pivot: 34364Support: 33678Preferred Case:With price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from our pivot at 34364 in line with the horizontal swing high resistance and 61.8% Fibonacci retracement to 1st support at 33678 in line with the horizontal swing low support.Alternative […]

Type: Bullish BounceKey Levels:Resistance: 0.70842Pivot: 0.69935Support: 0.69616Preferred Case:Prices are at a pivot and graphical swing low, we see the potential for a bounce from our Pivot at 0.69935 in line with 78.6% Fibonacci extension and 100% Fibonacci retracement towards our 1st resistance at 0.70842 in line with 23.6% Fibonacci retracement.Alternative Scenario:Alternatively, prices may dip further […]

Type: Bearish ReversalKey Levels:Resistance: 0.93555Pivot: 0.93309Support: 0.9274Preferred Case:Prices are at a pivot and graphical overlap. We see the potential for a sell entry at our pivot at 0.93309 in line with 127.2% Fibonacci extension and 127.2% Fibonacci Projection towards our Take Profit at 1st support at 0.9274 in line with 23.6% Fibonacci retracement. RSI is […]

AUDJPY price action is catching my eye here. The rejection at the 83.94 level has seen the market reversing lower and breaking down out of the bull channel. Price has recently broken below the 82.02 level and, following a subsequent retest, is turning lower again. Risk currencies have come under heavy pressure this week amidst […]

Type: Bearish ReversalKey Levels:Resistance: 91.218Pivot: 91.027Support: 90.456Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot 91.027 in line with 61.8% Fibonacci extension and 100% Fibonacci retracement towards our 1st support at 90.456 in line with 61.8% FIbonacci extension. Ichimoku clouds are depicting […]

• EURCAD reversed from support zone • Likely to rise to resistance level 1.4350 EURCAD recently reversed up once again from the support zone lying between the key support level 1.4176 (which has been reversing the price from November) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Hanging Man, close to the resistance level, USDCAD is reversing and may form a new correctional impulse. In this case, the downside target may be the support area at 1.2655. However, an alternative scenario implies […]

BRENT 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 break 5/8 and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the asset breaks 4/8 to the […]

There was a sign of relief on geopolitical front, welcomed by asset markets, after the Russian Foreign Ministry said that a war with Ukraine was “unthinkable”, hinting that diplomatic resolution of the conflict may be in cards. The market focus today is on a portion of US price and employment data, namely PCE and employment […]

US Core PCE In FocusIt’s been a stunning week for the US Dollar with the greenback on curse to close out its biggest weekly gain since June 2021. A hawkish FOMC meeting, teeing up a March rate hike, followed by a bumper quarterly GDP reading has week and truly reignited demand for the Dollar. Traders […]