Category: Technial Analysis

USD On The DeclineThe January US labour reports are due later today and hold the potential to cause big market volatility. The Dollar has come under heavy pressure this week amidst the narrative that the policy gap between the Fed and other central banks in the G10 is rapidly closing. An uptick in hawkishness from […]

Gold prices fell in trading today, Thursday, and hovered near the highest level in the previous session. The decline in the yellow metal comes as the US dollar regains strength ahead of central bank meetings in Britain and Europe as their economies grapple with rising inflation risks. Gold Prices Today The price of gold futures […]

Type: Bullish BounceKey Levels:Resistance: 1.27961Pivot: 1.26505Support: 1.2571Preferred Case:With prices moving above the Ichimoku cloud, we see the potential for a bounce from our pivot at 1.26505 in line with horizontal swing low support and 61.8% Fibonacci retracement towards our 1st resistance at 1.27961 in line with horizontal swing high resistance and 61.8% Fibonacci projection.Alternative Scenario:Alternatively, […]

Type: Bullish BounceKey Levels:Resistance: 1.3634Pivot: 1.35222Support: 1.34537Preferred Case:With price moving above the Ichimoku cloud, we have a bias that price will continue with its bullish momentum up from our pivot at 1.35222 in line with the 23.6% Fibonacci retracement and horizontal overlap support to 1st resistance at 1.3634 where the horizontal swing high resistance is.Alternative […]

USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 6/8, break it, and continue falling to reach the support at 5/8. However, this scenario may be cancelled if […]

EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, the asset has formed a Long-Legged Doji reversal pattern close to the resistance level. At the moment, EURUSD is reversing and may form a new correctional impulse. In this case, the downside target may be at 1.1260. However, an alternative scenario implies […]

Factory orders in the United States fell in December, while shipments increased. In December, new orders for American-made goods declined somewhat more than predicted, but manufacturing is still supported by businesses refilling stockpiles. Factory orders fell 0.4 % in December, according to the Commerce Department. Orders increased 1.8 % instead of 1.6 % as previously […]

Oil and gas prices rise with Shell profits in the fourth quarter of 2021 Recorded $6.4 billion Oil and gas prices supported Shell in achieving record profits during the fourth quarter of last year, exceeding analyst expectations, recording $6.4 billion, an increase of 55% from the third quarter of 2021. Shell’s adjusted profit beat the […]

Dollar reversed gains made in the first half of Thursday session with the DXY shedding nearly half a percentage point after EU and UK central banks signaled that they would be catching up with the Fed in terms of policy tightening. The Bank of England raised the rate to 0.5%, however, the fact that 4 […]

Daily Market Outlook, February 3, 2022 Overnight Headlines Fed’s Daly: ‘Gradual’ Rate Hikes Won’t Derail The Economy Biden’s Three Fed Board Nominees Vow To Tackle Inflation Yellen Sets Inflation Blame Abroad, Defends Biden Stimulus US House China Competition Bill Set For Passage This Week US Sends 3,000 Troops To Aid Allies In Russia-Ukraine Crisis Putin […]