Month: December 2022

Looking at the 1H timeframe, we see the development of the corrective wave b, which is part of the global zigzag. Correction b most likely takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first Read more…

The FTSE 100 falters as traders ponder the Fed’s potential stance next week. The bulls are testing the major supply zone from this year’s highs around 7630 where strong downward pressure could be expected. As Read more…

The Australian dollar softened after the RBA lifted its cash rate by 25bp as expected. On the daily chart, the pair has been grinding up along the 20-day moving average. September’s high of 0.6900 may Read more…

The US dollar edges higher as dovish incentives for the Fed fade amid robust data. The pair came under pressure at 1.0600 which is a supply zone from last June’s sell-off. The directional bias remains Read more…

Markets US stock markets lost more dash yesterday, ceding again up to 2% (Nasdaq) in the close and completely erasing the exaggerated reaction to last week’s dovish interpreted Fed Chair Powell speech. Technically, the S&P Read more…

Daily Pivots: (S1) 165.78; (P) 166.64; (R1) 167.13; More… Intraday bias in GBP/JPY stays neutral at this point. On the downside, break of 164.02 should resume the whole fall from 172.11 through 163.02 support. Nevertheless, Read more…

Daily Pivots: (S1) 143.03; (P) 143.51; (R1) 143.93; More…. Intraday bias in EUR/JPY stays neutral at this point. Further decline could be seen as long as 146.12 resistance holds. Break of 140.75 will resume the Read more…

Daily Pivots: (S1) 0.8591; (P) 0.8612; (R1) 0.8647; More… Further decline remains in favor with 0.8674 resistance intact. Current fall from 0.9267 should target 61.8% projection of 0.9267 to 0.8647 from 0.8827 at 0.8444 next. Read more…

Daily Pivots: (S1) 1.5586; (P) 1.5638; (R1) 1.5701; More… Sideway consolidation continues in EUR/AUD and intraday bias remains neutral first. In case of another fall, downside should be contained by 55 day EMA (now at Read more…