Category: Technial Analysis
Forecasts indicate that the demand for electricity in Sweden will grow in the coming years; So the government is building a fleet of offshore wind farms to meet its needs. In this context, the government is seeking to develop the offshore wind sector in Sweden to produce 120 TWh of electricity annually. The government revealed […]
Retail Sales Surge Higher in January US retail sales yesterday confirmed the health of the US economy over January. On the back of a bumper set of US labour reports and stronger-than-expected CPI, there was plenty of attention on yesterday’s retail sales release. The report showed that consumer activity jumped 3.8%, up from -2.5% in […]
Type: Bullish ContinuationKey levels:Resistance: 1920.2Pivot: 1920.2Support: 1854.3Preferred Case:Prices have recently broken out of our daily descending trendline and has experienced a trendline breakout. We see the potential for further bullish continuation from our Pivot at 1880.2 in line with 61.8% Fibonacci extension towards our 1st resistance at 1920.2 in line with 127.2% Fibonacci extension. Prices […]
• Gold broke key resistance level 1875.00 • Likely to rise to resistance level 1920.00 Gold continues to rise after the earlier breakout of the key resistance level 1875.00, which was set as the likely upward target in earlier forecast of this instrument. The breakout of the resistance level 1875.00 should accelerate the active short-term […]
USDCHF, “US Dollar vs Swiss Franc” In the H4 chart, after rebounding from the “overbought area”, USDCHF is trading below 7/8. In this case, the price is expected to continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks 8/8 to the upside. After that, the instrument […]
XAUUSD, “Gold vs US Dollar” As we can see in the H4 chart, after forming a Harami reversal pattern not far from the support level, XAUUSD is reversing in the form a new rising impulse. In this case, the upside target may be the resistance area at 1885.00. At the same time, an opposite scenario […]
Gold prices rose in trading on Thursday, after news of the return of tensions between Russia and Ukraine, in the wake of a Russian report that mortar shells were fired in eastern Ukraine, prompting investors to resort to safe assets. Yesterday, Wednesday, gold prices ended up by about $15, with the dollar and US stocks […]
Reports of ceasefire violations in the disputed territories of Ukraine and the lack of reliable data that Moscow has withdrawn troops from the border does not fully eliminate the geopolitical premium in risk assets and apparently offers some support for the dollar and defensive assets. A quick diplomatic resolution to tensions now looks unlikely, adding […]
Dropbox Earnings Up NextUS tech company Dropbox is due to report earnings later today. The company’s shares have been languishing over recent months, following the decline seen across November/December last year. Price has been stuck in a tight block of consolidation between the 22.75 level and 25.46 level, underpinned also by the near channel low. […]
• Citibank falling inside impulse wave 3 • Likely to reach support level 64.68 Citibank continues to fall inside the impulse wave 3, which started earlier from the key resistance level 68.00 (which has been reversing the price from November), intersecting with the 50% Fibonacci correction of the previous downtrend from June. The active impulse […]