Category: Technial Analysis

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Engulfing, close to the support level, USDCAD is reversing and may form a new correctional impulse. In this case, the upside target may be the resistance area at 1.2605. However, an alternative scenario implies that […]

USDCAD Testing Channel LowThe sell off in USDCAD over the last week has seen price breaking below key support at the 1.2643 level trading down as far as a test of the 1.2469 level, with the bull channel low sitting just beneath. While price is holding the initial test of this support zone, sentiment remains […]

Metals Looking To Move Higher On USD RetreatThe metals complex has started the week with a bid tone as both gold and silver attempt to trade to the upside here. Relatively speaking, price actions remains fairly muted for now and with the US markets offline for the MLK holiday, flows are likely to remain light […]

• USDJPY reversed from support level 113.50 • Likely to rise to resistance level 115.00 USDJPY currency pair recently reversed up with the clearly formed daily Hammer from the support level 113.50 (which has been reversing the price from October), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 113.50 […]

• AUDNZD reversed from support level 1.0575 • Likely to rise to resistance level 1.0640 AUDNZD currency pair recently reversed up from the key support level 1.0575 (low of the sideways price range, which has been reversing the price from the start of December), intersecting with the lower daily Bollinger Band. The upward reversal from […]

XAUUSD, “Gold vs US Dollar” As we can see in the daily chart, XAUUSD is forming another rising wave within the uptrend after convergence on MACD; the previous wave has tested 50.0% fibo. In this case, the pair is expected to continue the uptrend to reach 61.8% and 76.0% fibo at 1908.00 and 1969.50 respectively. […]

EURUSD, “Euro vs US Dollar” Having finished the descending structure and reached the short-term target at 1.1414, EURUSD is expected to continue the correction to reach 1.1390. Possibly, today the pair may return to test 1.1436 from below and then complete the correction by falling towards 1.1390. Later, the market may resume trading upwards with […]

TheDollar managed to gain a foothold after touching 100-day SMA on Friday, but onMonday the recovery was difficult – the dollar index dangled near the week’s opening:Sellershave broken the uptrend that has lasted since June 2021, so ongoing correctionmay take place in several stages. The main resistance in the index, where awave of sales may […]

GBJPY In Holding PatternGBPJPY price action is starting to look very interesting here. Price is has been sitting in a tight range just under the 157.88 highs over the last week. While there are clear double-top risks, given the strength of the recent rally, and with the retail market still overwhelmingly short here, I’m looking […]

EURUSD stopped growing; the statistics failed the “greenback”.   The major currency pair is rather neutral early in the week. The current quote for the instrument is 1.1426. The statistics published by the US were disappointing. It seems like the Omikron strain together with surging inflation penetrated the country’s economy and financial system much deeper […]