Category: Technial Analysis
The AUD/USD is hovering near a one-week low, below 0.7200, due to a stronger USD/risk-off environment. A combination of factors dragged AUD/USD to a one-week low on Tuesday. The AUD/USD pair remained offered during the first part of the European session, and was last seen lingering near a one-week low, just below the 0.7200 line. […]
Type: Bullish BounceKey Levels:Resistance: 1.0509Pivot: 1.04178Support: 1.04047Preferred Case:Price broke out of the descending trendline resistance on the daily, signifying an overall bullish momentum. We can expect price to bounce from the pivot level in line with 61.8% Fibonacci projection and 50% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci retracement and previous swing […]
Type: Bearish ReversalKey Levels:Resistance: 43811.Pivot: 42275.85Support: 39778.7Preferred Case:Price is abiding to the descending trendline resistance, signifying overall bearish momentum. We can expect price to continue to drop from pivot level in line with 23.6% Fibonacci retracement and graphical overlap support (if price close below pivot) towards 1st Support in line with 61.8% Fibonacci projection and […]
EURUSD, “Euro vs US Dollar” As we can see in the H4 chart, after breaking its consolidation range to the upside, EURUSD has broken 50.0% fibo. At the moment, the asset is starting a new pullback, which may later be followed by another growth towards 61.8% and 76.0% fibo at 1.1500 and 1.1570 respectively. The […]
EURUSD, “Euro vs US Dollar” Having finished the correctional wave at 1.1380, EURUSD is expected to form one more ascending structure to break 1.1435 and then continue trading upwards with the target at 1.1495. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has completed the correctional wave at 1.3620. Possibly, today the pair may resume […]
Type: Bearish ReversalKey Levels:Resistance: 1.15137Pivot: 1.14603Support: 1.13846Preferred Case:With price approaching the resistance of the stochastics indicator, we are bias that price will drop from our pivot at 1.14603 in line with the 161.8% Fibonacci extension and swing high resistance to 1st support at 1.13846 in line with 38.2% Fibonacci retracement and horizontal overlap support.Alternative Scenario:Alternatively, […]
Type: Bullish BounceKey Levels:Resistance: 0.72717Pivot: 0.71951Support: 0.71281Preferred Case:With price moving above the Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 0.72717 which is in line with horizontal overlap resistance and 61.8% Fibonacci retracement from pivot at 0.71951, which is in line with horizontal overlap support and […]
In this Weekly Market Outlook 17-01-22, our analyst looks into the trading week ahead, possible market moving data releases across the globe and the technical analysis to accompany it! Source: Tickmill
CitiEuropean OpenIt was a busier morning today, despite the US MLK holiday, with FX volumes up to 30% more than averages, according to our etraders. The highlight in the Asian session was the 10bps cut in the MLF rate by PBoC, alongside a mixed bag of data from China. FX markets, including CNH were little […]
EURUSD, “Euro vs US Dollar” In the H4 chart, after rebounding from the resistance at 8/8, EURUSD is trading downwards. In this case, the price is expected to test 7/8, rebound from it, and then resume falling to reach the support at 5/8. Still, this scenario may no longer be valid if the price breaks […]