Category: Technial Analysis

Type: Bearish ReversalKey Levels:Resistance: 1.1273Pivot: 1.12471Support: 114.158Preference: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 extension. […]

• Gold broke daily up channel • Likely to fall to support level 1780.00 Gold continues to fall after the breakout of the support trendline of the daily up channel from the middle of December. The breakout of this up channel accelerated the active short-term correction – which started earlier from the key resistance level […]

EURUSD, “Euro vs US Dollar” After breaking the consolidation range to the downside at 1.1244 and forming a downside continuation pattern, EURUSD is falling to reach the target at 1.1188. Later, the market may correct to test 1.1244 from below and then start a new decline with the target at 1.1180. GBPUSD, “Great Britain Pound […]

USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at 8/8. However, this scenario may be cancelled if the price […]

Oil prices are turning up, and Brent crude is near $91 Oil prices turned up about 1% during trading on Thursday, with Brent crude rising near $91 a barrel, with geopolitical concerns continuing to support prices. Oil prices were lower in early trading, with the US dollar gaining after indications that the Federal Reserve will […]

Gold prices fell in trading Thursday, with the US dollar rising, after indications that the Federal Reserve will tighten monetary policy, and intend to raise interest rates starting next March. Geopolitical concerns about an imminent war between Russia and Ukraine have limited fears amidst the demand for the yellow metal as a safe haven. Gold […]

Fed Turns Up The HawkUSD bulls were not left disappointed by last night’s FOMC meeting. The Fed satisfied hawkish expectations, noting that “it will soon be appropriate to raise the target range for the federal funds rate”. With tapering of QE due to end by early March, the market expects the Fed to lift rates […]

Oil Longs Hit Ten Week HighsThe latest CFTC COT institutional positioning report shows that oil traders increased their net long positions last week by a further 26,000 contracts. This latest increased takes the net upside position back up to ten-week highs. Oil has been steadily bought over recent weeks, reflected in the ongoing rally in […]

• GBPJPY reversed from support level 153.00 • Likely to rise to resistance level 155.00 GBPJPY currency pair recently reversed up from the key support level 153.00 standing near the lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from December. The upward reversal from the support level 153.00 stopped he […]

• FTSE reversed from support level 7400.00 • Likely to rise to resistance level 7635.00 FTSE index continues to rise after the index reversed up from the key support level 7400.00 (former top of waves 1 and (i) from November and December). The support zone near the support level 7400.00 was strengthened by the lower […]