Category: Technial Analysis

• Tesco broke resistance level 2.9670 • Likely to rise to resistance level 3.050 Tesco recently broke above the key resistance level 2.9670 (which stopped the previous short-term impulse wave 1 at the start of January) The breakout of the resistance level 2.9670 accelerated the active intermediate impulse wave (3). Given the clear daily uptrend, […]

• Natural gas broke resistance zone • Likely to rise to resistance level 5.000 Natural gas recently broke the resistance zone lying between the key resistance level 4.400 (which stopped the previous impulse wave (1)) and the 50% Fibonacci correction of the downward impulse from November. The breakout of this resistance zone accelerated the active […]

EURUSD continues falling; it has dropped to its 2-year lows.  The major currency pair is “knocked down” at the end of the trading week. The current quote for the instrument is 1.1155. So, the USD continues its rally. The key trigger for that is the results of the US Fed January meeting. Market players are […]

EURUSD, “Euro vs US Dollar” EURUSD is trading at 1.1151; 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 1.1035. Another signal in favour of a further downtrend will be a […]

AUDUSD, “Australian Dollar vs US Dollar” As we can see in the daily chart, having completed the correction, the asset is forming a new wave to the downside and re-testing 38.2%. The downside targets are 50.0% and 61.8% fibo at 0.6758 and 0.6464 respectively. The resistance is the high at 0.8007. In the H4 chart, […]

EURUSD, “Euro vs US Dollar” After breaking the consolidation range to the downside at 1.1244 and completing the descending wave at 1.1130, EURUSD is expected to form a new consolidation range there. A breakout of this range to the upside may result in a new rising wave towards 1.1310. Today, the pair may form the […]

CIBCFX FlowsCurrencies were locked in narrow ranges, the only pair that had better trading range was the $CAD. The pair was sold into the North America closing minutes, believed to be linked to ETFs. WTI Crude March futures began the session weak, contracts dipped briefly below $87.00 and bounced back to $87.28, this helped accelerate […]

Daily Market Outlook, January 28, 2022 Overnight Headlines Tokyo Inflation Slows, Bolstering BoJ Case For Standing Pat IMF Urges Japan To Scale Back Pandemic Support, Raise Taxes IMF Urges BoJ To Consider Targeting Shorter-Term Yields Argentina, IMF Reach Understanding On Fiscal Path For Deal Aus, NZ Dlrs Nurse Painful Losses As Markets Go Mad For […]

XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Hanging Man reversal pattern not far from the resistance level, XAUUSD is reversing and may continue forming its correctional impulse. In this case, the downside correctional target is the support area at 1800.00. At the same time, an opposite […]

Type: Bullish BreakoutKey Levels:Resistance: 1.1273Pivot: 1.12471Support: 1.1187Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for further bearish momentum from our Pivot at 1.12471 in line with 78.6% Fibonacci retracement towards our Take Profit at 1.1187 in line with 100% Fibonacci retracement, 161.8% FIbonacci Projection and 61.8% Fibonacci […]