Category: Technial Analysis
The Fed held a meeting this week and signaled that it will conduct monetary policy tightening much faster than its peers and faster than market participants expected. Now rumors are centering around a possible Fed rate hike at the next meeting by 50 bp.Next week the decision on the interest rate will be made by […]
Kiwi Comes Under PressureAnother week comes to a close in financial markets, and we’re also rounding out the first month of the year. I hope it’s been a great start to the year for you all. In terms of market action this week, there’s been plenty going on, however, it seems that the move catching […]
Type: Bullish BounceKey Levels:Resistance: 1.27888Pivot: 1.26951Support: 1.26543Preferred Case:With prices moving above the Ichimoku cloud, we see the potential for a bounce from our pivot at 1.26951 in line with horizontal overlap support and 23.6% Fibonacci retracement towards our 1st resistance at 1.27888 in line with horizontal swing high resistance and 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price […]
Gold prices fell to a three-week low on Friday and could see their worst weekly performance since late November as the dollar rallied after the Fed signaled a rate hike in March.The Federal Reserve on Wednesday signaled it was likely to raise US interest rates in March and reaffirmed plans to stop buying bonds later […]
Type: Bearish ReversalKey Levels:Resistance: 34682Pivot: 34364Support: 33678Preferred Case:With price approaching the resistance of the stochastics indicator, we have a bearish bias that price will drop from our pivot at 34364 in line with the horizontal swing high resistance and 61.8% Fibonacci retracement to 1st support at 33678 in line with the horizontal swing low support.Alternative […]
Type: Bullish BounceKey Levels:Resistance: 0.70842Pivot: 0.69935Support: 0.69616Preferred Case:Prices are at a pivot and graphical swing low, we see the potential for a bounce from our Pivot at 0.69935 in line with 78.6% Fibonacci extension and 100% Fibonacci retracement towards our 1st resistance at 0.70842 in line with 23.6% Fibonacci retracement.Alternative Scenario:Alternatively, prices may dip further […]
Type: Bearish ReversalKey Levels:Resistance: 0.93555Pivot: 0.93309Support: 0.9274Preferred Case:Prices are at a pivot and graphical overlap. We see the potential for a sell entry at our pivot at 0.93309 in line with 127.2% Fibonacci extension and 127.2% Fibonacci Projection towards our Take Profit at 1st support at 0.9274 in line with 23.6% Fibonacci retracement. RSI is […]
AUDJPY price action is catching my eye here. The rejection at the 83.94 level has seen the market reversing lower and breaking down out of the bull channel. Price has recently broken below the 82.02 level and, following a subsequent retest, is turning lower again. Risk currencies have come under heavy pressure this week amidst […]
Type: Bearish ReversalKey Levels:Resistance: 91.218Pivot: 91.027Support: 90.456Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot 91.027 in line with 61.8% Fibonacci extension and 100% Fibonacci retracement towards our 1st support at 90.456 in line with 61.8% FIbonacci extension. Ichimoku clouds are depicting […]
• EURCAD reversed from support zone • Likely to rise to resistance level 1.4350 EURCAD recently reversed up once again from the support zone lying between the key support level 1.4176 (which has been reversing the price from November) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier […]