Category: Technial Analysis

BOE In FocusThe February Bank of England meeting due today is drawing a great deal of focus, with the market widely expecting the BOE to hike rates by a further .25% to 0.5%. With omicron risks having fizzled out, the labour market continuing to tighten and inflation soaring, there seems little case for the BOE […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Hammer, close to the support level, USDCAD is reversing and may form a new rising impulse. In this case, the upside target may be the resistance area at 1.2780. However, an alternative scenario implies that […]

Content ControversyMusic streaming platform Spotify has been drawing plenty of heat recently following a row which erupted just a fortnight ago. Folk-rock icon Neil Young called on Spotify to make a choice between having his music on their platform or Joe Rogan’s podcasts. Young took aim at Spotify over the content of Rogan’s podcasts, specifically […]

AUD Trading HigherThe Australian Dollar has seen better demand today following comments overnight from RBA governor Lowe. Following the RBA’s February meeting which saw the bank announcing an end to QE but citing ongoing concerns over the sustainability of the pickup in inflation, Lowe’s comments last night were deemed more hawkish than the market was […]

NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is trading at 0.6634; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6685 and then resume moving downwards to reach 0.6455. Another signal in favour of a further downtrend […]

USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be […]

The rise in prices in the Eurozone once again surprised, primarily due to an increase in energy prices, but there are few qualitative positive changes. Core inflation, on the other hand, eased from 0.4% to 0.3%, indicating that a “second round” of inflationary effects, which could really make the ECB worry, has not emerged. The […]

OPEC In FocusThe first OPEC+ meeting of 2022 gets underway today. The group will decide on how to set its production levels for the coming months. Oil prices have been on a solid topside run recently with prices rallying over 40% since the December lows. So far, OPEC+ has stuck to its plan of maintaining […]

EURUSD continues rising; the risk attitude pushes the asset upwards. The major currency pair is strengthening in the middle of the week. The current quote for the instrument is 1.1288. Risk attitude in global financial markets is now pretty high – that deprives the “greenback” of the support it got used to and helps the […]

EURUSD, “Euro vs US Dollar” EURUSD is still growing with the short-term target at 1.1300. Later, the market may start a new correction to reach 1.1220 and then form one more ascending structure with the target at 1.1320. GBPUSD, “Great Britain Pound vs US Dollar” After finishing the ascending wave at 1.3500, GBPUSD is still […]