Category: Technial Analysis
EURUSD plunged after the US Fed January meeting. The major currency pair is weakening on Thursday. the current quote for the instrument is 1.1190. During its January meeting, the US Fed left the benchmark interest rate unchanged at 0.25%, just as expected. The QE tapering pace also remained the same and the programme will […]
The US labor market is “strong”, inflation is “well above” the target level and balance sheet runoff could be combined with interest rate hikes – these are the three key takeaways from the Fed meeting. We can conclude from them that the Fed’s lead, in terms of intentions to tighten policy, has only increased compared […]
USD GDP Up NextOn the back of yesterday’s hawkish FOMC meeting, the focus is now on advance quarterly USD GDP data due to be released later today. The market is looking for a firm bounce from the prior quarter’s 2.3% reading to 5.3%. If confirmed, this should add further fuel to the current USD rally, […]
• Brent reversed from support level 85.35 • Likely to rise to resistance level 88.75 Brent recently reversed up from the key support level 85.35 (previous strong resistance level from October, actin as the support after it was broken at the start of this year). The upward reversal from the support level 85.35 started the […]
• EURCHF reversed from support level 1.031 • Likely to rise to resistance level 1.0450 EURCHF currency pair recently reversed up from the key support level 1.031 (previous low of wave (1) from the end of December), intersecting with the lower weekly Bollinger Band. The upward reversal from the support level 1.031 created the daily […]
Brent As we can see in the H4 chart, after breaking the high at 86.63 and fixing above it, Brent has tested the psychologically important level of $90 per barrel. In this case, the asset may slightly correct in the nearest future and then resume growing. The next upside targets are inside the post-correctional extension […]
USDJPY, “US Dollar vs Japanese Yen” USDJPY is trading at 114.69; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 114.45 and then resume moving upwards to reach 115.90. Another signal in favour of a further uptrend will […]
CIBCFX FlowsNew Zealand 4Q annual CPI rose to 5.9%, highest in more than 30 years. According to Bloomberg, price increases were widespread and were particularly acute for home rentals and construction of new dwellings. Shipping disruptions that stem from closed borders and congestion at ports during the pandemic have added fuel to the inflation bonfire. […]
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USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 1/8. However, this scenario may no […]