Category: Technial Analysis

Daily Market Outlook, January 25, 2022 Overnight Headlines Australian Core Inflation Jumps To 7-1/2 Year Peak In Major Shock Australian Business Confidence Bruised By Coronavirus Surge China: Too-Fast Stimulus End In Some Nations May Hit Exports China Newspaper Calls For Faster Approval Of Property M&A Loans BoJ’s Kuroda Vows Easy Policy, Aware Of Early Inflation […]

Type: Bullish BounceKey Levels:Resistance: 2.04059Pivot: 2.01111Support: 2.00397Preferred Case:Prices are on bullish momentum and abiding to our bullish trendline. We see the potential for a bounce from our Pivot a 2.01111 in line with 100% Fibonacci extension towards our 1st resistance at 2.04059 in line with 61.8% Fibonacci extension, 127.2% Fibonacci extension and 100% Fibonacci retracement. […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Shooting Star, close to the resistance level, USDCAD is reversing and may form a new descending impulse. In this case, the downside target may be the support area at 1.2540. However, an alternative scenario implies […]

CIBCFX FlowsAustralia’s Q4 inflation came out higher than expected, trimmed mean, measure watched by RBA, up 2.6%, above the RBA target midpoint of 2-3%. Our macro strategist Patrick expects the RBA could announce next week to end QE sometime middle of February. Patrick, along with market is looking for rate hike this year. RBA is […]

Type: Bullish BounceKey Levels:Resistance: 27479.38Pivot: 27171.76Support: 26531.38Preferred Case:Prices are on bearish momentum and consolidating in a descending channel. We see the potential for a dip from our Pivot at 27171.76 in line with 100% Fibonacci extension toward sour 1st support at 26531.38 in line with 100% Fibonacci extension. Prices are trading below our Ichimoku cloud […]

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is trading at 1.3474; 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 1.3505 and then resume moving downwards to reach 1.3355. Another signal in favour of a further downtrend will […]

AUDUSD, “Australian Dollar vs US Dollar” As we can see in the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling to reach the support at 3/8. However, this scenario may no […]

European Forex news roundup: The dollar rises slightly, but US futures point downward It was a rather calm session, as markets appear to be more cautious following Wall Street’s dramatic recovery late yesterday. Since Asian trading, US futures have been trending lower, and they have remained so throughout European morning trade. As a result, the […]

AUDNOK Breaks The ChannelThe recent AUDNOK breakout trade idea has hit its first target at 6.4202. With MACD and RSI firmly bullish here, the focus remains on the bigger target at 6.5046.Despite the broader wave of risk aversion we’ve seen, AUD has benefitted against NOK firstly as a result of softer oil prices this week […]

Markets Rattled By Russia/Ukraine Military FearsIt’s been a volatile start to the week for benchmark global equities indices. Asset markets have seen wild price action over the last 24 hours with stock prices plunging amidst rising geo-political fears before recovering off the lows. Once again today, however, risk markets are back under pressure as uncertainty […]