Archive for Forex and Currency News – Page 159

The Analytical Overview of the Main Currency Pairs on 2022.03.02

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.1215
  • Prev Close: 1.1123
  • % chg. over the last day: -0.82%

The European currency fell to its lowest since June 2020 amid Russia’s invasion of Ukraine. Investors are buying dollars as a defensive asset, and energy prices are rising because of possible supply shortages. For this reason, currencies such as the euro and the British pound are losing value.

Trading recommendations
  • Support levels: 1.1107, 1.1032
  • Resistance levels: 1.1211, 1.1273, 1.1392, 1.1459

From the technical point of view, the trend on the EUR/USD currency pair on the hourly time frame is bearish. The MACD indicator is in the negative area, but there are signs of divergence to the buying side. Under such market conditions, it is best to look for sell trades on intraday time frames from the resistance level of 1.1211. Buy trades should be considered from the support level of 1.1107, but only with short targets.

Alternative scenario: if the price breaks out through the 1.1274 resistance level and fixes above, the mid-term uptrend will likely resume.

EUR/USD
News feed for 2022.03.02:
  • – Eurozone Consumer Price Index (m/m) at 12:00 (GMT+2);
  • – US ADP Nonfarm Employment Change (m/m) at 15:15 (GMT+2);
  • – US FOMC Member Bullard’s Speech at 16:30 (GMT+2);
  • – US Fed Chair Jerome Powell Testifies at 17:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.3402
  • Prev Close: 1.3324
  • % chg. over the last day: -0.58%

The index of business activity in the manufacturing sector increased last month. This indicates that the region’s economy is recovering. However, analysts forecast a slowdown in the coming months due to Russian aggression against Ukraine and resulting economic sanctions, which will partly negatively affect European countries.

Trading recommendations
  • Support levels: 1.3274, 1.3220
  • Resistance levels: 1.3315, 1.3382, 1.3442, 1.3486, 1.3529, 1.3560

On the hourly time frame, the GBP/USD trend is bearish. Volatility remains high, sellers’ pressure has increased. Under such market conditions, buy trades should be considered from the support level of 1.3274, but it is better with confirmation. Resistance levels of 1.3315 and 1.3382 are good for sell deals, but only with an additional confirmation in the form of sellers’ initiative.

Alternative scenario: if the price breaks out through the 1.3442 resistance level and fixes above, the mid-term uptrend will likely resume.

GBP/USD
There is no news feed for today.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 114.98
  • Prev Close: 114.91
  • % chg. over the last day: -0.06%

The Japanese yen is a safe-haven currency in case of various financial shocks. With the beginning of Russia’s aggression against Ukraine, the Japanese yen has become a safe-haven currency for many investors, along with the US Dollar. For this reason, both the Japanese yen and Dollar Index are now inclined to rise, even though the policies of the central banks of the USA and Japan are diametrically opposite.

Trading recommendations
  • Support levels: 114.86, 114.78, 114.41
  • Resistance levels: 115.49, 115.69, 115.87, 116.32

The medium-term trend on the USD/JPY currency pair is bullish, but the structure is flatter, as the price has no single dynamics. The MACD indicator has become positive, and there is buying pressure. Under such market conditions, it is best to look for buy deals on the lower time frames from the support level of 114.86, but with additional confirmation. For sell deals, a resistance level of 115.49 may be considered.

Alternative scenario: if the price fixes below 114.41, the uptrend will likely be broken.

USD/JPY
There is no news feed for today.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2667
  • Prev Close: 1.2741
  • % chg. over the last day: +0.58%

Today, an OPEC+ meeting will take place, at which decisions can be made to increase oil supplies to stop the energy price spike amid Russia’s invasion of Ukraine. There will also be a meeting of the Canadian Central Bank today. Analysts predict that the Bank of Canada will raise interest rates by 0.25% to stop the sharp rise in inflation in the country.

Trading recommendations
  • Support levels: 1.2723, 1.2694, 1.2653
  • Resistance levels: 1.2797, 1.2820, 1.2876

From the technical point of view, the USD/CAD currency pair trend is bearish. But today, USD/CAD quotes are growing against the background of increased aggression from Russia. It is worth trading only with short targets because both oil and the dollar index are now inclined to grow. Under such market conditions, it is better to look for buy trades on the lower time frames from the support level of 1.2723, but it is better with additional confirmation. For sell deals, it is better to consider the resistance level of 1.2797.

Alternative scenario: if the price breaks through and consolidates above 1.2797, the downtrend will most likely be broken.

USD/CAD
News feed for 2022.03.02:
  • – OPEC+ Meeting at 12:00 (GMT+2);
  • – Canada BoC Interest Rate Decision (m/m) at 17:00 (GMT+2);
  • – Canada BoC Rate Statement (m/m) at 17:00 (GMT+2).

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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By Orbex

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Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

AUDUSD Primary Intervening Wave Ⓧ To End Near 0.744

By Orbex

AUDUSD

AUDUSD seems to be forming a bearish triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag.

At the time of writing, a bullish intervening wave Ⓧ is developing. This can take the form of an intermediate triple (W)-(X)-(Y)-(X)-(Z) zigzag.

In the upcoming trading weeks, prices could continue higher in (Z), more precisely in its final minor wave Z, as shown on the chart.

Prices could rise to the level of 0.744. At that level, the primary wave Ⓧ will be at 50% of the primary wave Ⓨ.

After reaching the specified level, the price could fall in the primary wave Ⓩ, below the minimum of 0.696 marked by the wave (X).

AUDUSD

It is also worth considering an alternative scenario in which the market is in the final part of the primary wave Ⓩ.

Most likely, this wave is a double zigzag (W)-(X)-(Y). To complete this double zigzag, an intermediate wave (Y) is necessary. According to the internal structure, this wave is similar to double zigzag W-X-Y of the minor degree.

In the near future, the price could lower in the minor wave Y to the level of 0.688. At the level of 0.688, the intermediate wave (Y) will be at 76.4% of the intermediate wave (W).

Finally, it is likely that the cycle wave z will develop above the maximum of 0.731.

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Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

Intraday Market Analysis – CHF Gains Momentum

By Orbex

USDCHF struggles for support

USDCHF

The Swiss franc rallies as new sanctions against Russia trigger a flight to safety.

The pair has met stiff resistance in the supply area (0.9290). Then a drop below 0.9220 and 0.9170 suggests that sentiment remains cautious and buyers are hesitant. 0.9150 is a key level to safeguard the greenback’s latest bounce.

A bearish breakout could send the pair to the daily support at 0.9110. An oversold RSI may attract some buying interest. The bulls need to reclaim 0.9230 before they could hope for a turnaround.

EURGBP attempts to rebound

EURGBP

The euro struggles amid escalation in Western sanctions.

A bullish attempt above 0.8400 indicates an upward bias as sellers cover their positions. 0.8310 has been solid support. And the market mood may become increasingly upbeat if buyers succeed in holding above this level.

An extended rally may send the single currency to the daily resistance at 0.8475, where a breakout may cause a bullish reversal in the weeks to come. On the downside, a fall below the said demand zone may send the euro to 0.8260.

US 100 to test key resistance

NASDAQ

The Nasdaq 100 bounces as Russia and Ukraine meet for peace talks.

The index saw bids near last May’s lows (13050), an important floor to prevent further bleeding. A rebound above 14050 has prompted some sellers to take profit, easing the downward pressure for the moment.

Price action is heading to the next resistance at 14500 which sits on the 30-day moving average, and high volume could be expected in this area of interest. A bullish breakout could boost sentiment in the short term and extend gains to 15280.


Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

Ichimoku Cloud Analysis 01.03.2022 (EURUSD, XAUUSD, GBPUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1203; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1230 and then resume moving downwards to reach 1.0995. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1415. In this case, the pair may continue growing towards 1.1505. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.1125.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1907.00; 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 1895.00 and then resume moving upwards to reach 1995.00. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1845.00. In this case, the pair may continue falling towards 1805.00.

XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3419; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3455 and then resume moving downwards to reach 1.3175. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3565. In this case, the pair may continue growing towards 1.3655.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Japanese Candlesticks Analysis 01.03.2022 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Hammer reversal pattern close to the support level. At the moment, EURUSD is reversing and may form a new rising impulse. In this case, the upside target may be at 1.1280. However, an alternative scenario implies that the price may fall to reach 1.1120 without any corrections towards the resistance area.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, during the pullback, USDJPY has formed several reversal patterns, such as Hammer. At the moment, USDJPY is reversing and may start a new growth towards the resistance area. In this case, the upside target may be at 115.70. At the same time, an opposite scenario implies that the price may correct to reach 114.75 before resuming its uptrend.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Hammer reversal pattern near the support area, EURGBP is reversing and may start another growth towards the resistance level. In this case, the upside target may be at 0.8395. Later, the market may test the level, break it, and continue the ascending tendency. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8320 before resuming its growth.

EURGBP

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

The Analytical Overview of the Main Currency Pairs on 2022.03.01

by JustForex

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.1126
  • Prev Close: 1.1219
  • % chg. over the last day: +0.82%

According to Mario Centeno, a member of the European Central Bank’s Governing Council, the Eurozone could be vulnerable to stagflation after Russia attacks Ukraine. ECB officials are ready to cut bond purchases amid record inflation at their March 10 meeting. However, the economic consequences of the war and the sanctions imposed now complicate that task.

Trading recommendations
  • Support levels: 1.1185, 1.1126, 1.1032
  • Resistance levels: 1.1263, 1.1300, 1.1392, 1.1459

From the technical point of view, the trend on the EUR/USD currency pair on the hourly time frame is bearish. The MACD indicator has become inactive. The price is trading in a wide price corridor. Under such market conditions, it is best to look for sell trades on intraday time frames from the resistance level of 1.1300. Buy trades should be considered from the intraday support level of 1.1185, but only with short targets.

Alternative scenario: if the price breaks out through the 1.1300 resistance level and fixes above, the mid-term uptrend will likely resume.

EUR/USD
News feed for 2022.03.01:
  • – German Manufacturing PMI (m/m) at 10:55 (GMT+2);
  • – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
  • – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+2).

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.3321
  • Prev Close: 1.3419
  • % chg. over the last day: +0.74%

The British pound has lost confidence, and now, just like the euro, is heavily dependent on the dollar index, which changes under the influence of 2 main factors: the war in Ukraine and the Fed’s policy. Basically, both the dollar index and the GBP are inclined to rise now, so traders should trade with short-term targets.

Trading recommendations
  • Support levels: 1.3317, 1.3274, 1.3220
  • Resistance levels: 1.3442, 1.3486, 1.3529, 1.3560

The GBP/USD currency pair trend is bearish on the hourly time frame. Volatility has increased sharply. Now the price is trading in a wide corridor with the boundaries of 1.3317-1.3442. Under such market conditions, buy trades should be considered from the level of 1.3317, but it is better with confirmation. The resistance level of 1.3442 is good for sell deals, but only with an additional confirmation in the form of sellers’ initiative.

Alternative scenario: if the price breaks out through the 1.3486 resistance level and fixes above, the mid-term uptrend will likely resume.

GBP/USD
News feed for 2022.03.01:
  • – UK Manufacturing PMI (m/m) at 11:30 (GMT+2).

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 115.38
  • Prev Close: 114.97
  • % chg. over the last day: -0.35%

The Japanese yen is a safe-haven currency in case of various financial shocks. With the beginning of Russia’s aggression against Ukraine, the Japanese yen has become a safe-haven currency for many investors, along with the US Dollar. For this reason, both the Japanese yen and Dollar Index are now inclined to rise, even though the policies of the central banks of the USA and Japan are diametrically opposite.

Trading recommendations
  • Support levels: 114.99, 114.78, 114.41
  • Resistance levels: 115.49, 115.69, 115.87, 116.32

The medium-term trend on the currency pair USD/JPY is bullish. But the MACD indicator has become negative. There is intraday seller’s pressure. Under such market conditions, it is better to buy from the support level 114.99, but with additional confirmation. For sell deals, resistance level 115.49 may be considered.

Alternative scenario: if the price fixes below 114.41, the uptrend will likely be broken.

USD/JPY
News feed for 2022.03.01:
  • – Japan Manufacturing PMI (m/m) at 02:30 (GMT+2).

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.2768
  • Prev Close: 1.2668
  • % chg. over the last day: -0.78%

The Canadian dollar is a commodity currency, so it depends not only on the monetary policy of the Bank of Canada but also on the oil prices and the dollar index. The fundamental picture now is that both the dollar index and oil prices will grow. Investors are buying the dollar index as a defensive asset in times of war. Next month, the Fed will start tightening monetary policy, providing additional support to the US currency. But oil prices could rise even more on fears of disruption in supplies from Russia. The Bank of Canada will hold a meeting this week, which is likely to raise the interest rate. Against the backdrop of these expectations, the Canadian dollar may strengthen in the coming days.

Trading recommendations
  • Support levels: 1.2636
  • Resistance levels: 1.2721, 1.2797, 1.2820, 1.2876

From the technical point of view, the USD/CAD currency pair trend has changed to bearish. The price has consolidated below both moving averages. It is worth trading only with short targets because both oil and the dollar index are inclined to grow now. Under such market conditions, it is better to look for buy trades on lower time frames from the support level of 1.2636, but it is better with additional confirmation. For sell deals, it is better to consider the resistance level of 1.2721.

Alternative scenario: if the price breaks through and consolidates above 1.2797, the downtrend will most likely be broken.

USD/CAD
News feed for 2022.03.01:
  • – Canada GDP (q/q) at 15:30 (GMT+2);
  • – Canada Manufacturing PMI (m/m) at 16:30 (GMT+2).

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Financial markets are weighing the risks after the imposition of sanctions against Russia

by JustForex

The markets’ focus remains on Russia’s aggression against Ukraine and the sanctions imposed by Western countries against Russia, which has sharply increased uncertainty in the global financial markets. The US stock indices closed Monday with a slight decline. By the close of the stock market Dow Jones Index (US30) decreased by 0.49%, S&P 500 (US500) decreased by 0.24%, and the NASDAQ technology index (US100) increased by 0.41%.

On Monday, OFAC, a division of the US Treasury Department, issued a directive barring US residents from any transactions with the Central Bank, the Russian Treasury, and the sovereign wealth fund.

Disney, Warner Bros., and Sony suspended film distribution in Russia. The streaming video service Netflix refused to broadcast 20 Russian federal television channels.

MasterCard has disconnected several Russian banks from its payment system.

The United States expelled 12 Russian diplomats from the United Nations, citing national security concerns. Russia called the move “hostile.”

Japan imposed sanctions on 49 Russian companies and organizations and six Russians, including President Vladimir Putin and Deputy Chairman of the Security Council Dmitry Medvedev. The assets of Central Bank, Promsvyazbank, and VEB are frozen in Japan. The Shell Company decided to withdraw from its joint ventures with Gazprom and cease participation in the Nord Stream-2 gas pipeline project.

European stock indices also closed yesterday in the red zone, following the US indices. German DAX (DE30) decreased by 0.73%, French CAC 40 (FR40) added 1.39%, Spanish IBEX 35 (ES35) lost 0.09%, British FTSE 100 (UK100) fell by 0.42%. Shares of the European banking sector fell in price against the background of sanctions against Russia. The shares of Austrian Raiffeisen Bank International AG, which derives nearly one-third of its profits from operations in Russia, fell by 14%. Shares of the Italian UniCredit and Intesa Sanpaolo banks have fallen by 12.35% and 7.97%, respectively, shares of Deutsche Bank have dropped by 7.5%.

The EU sanctions list also includes Igor Sechin, head of the Russian state oil company Rosneft, Transneft President Nikolai Tokarev, oligarchs Alisher Usmanov, Petr Aven, and Alexander Ponomarenko, as well as banker Mikhail Fridman.

Oil prices could rise further as investors continue to hold on to oil contracts as they fear supply disruptions from Russia, the largest oil exporter. Investors fear the imposition of sanctions against the Russian energy sector, as talk about it is already underway.

The Russian ruble plunged to a record low after the West cut off some Russian banks from the SWIFT financial network and limited the Russian Central Bank’s ability to manage $630 billion in international reserves.

Capital control is slowly being implemented in Russia. Capital control is a measure aimed at limiting capital outflows from the country. Such measures are not applied in market economies, since they reduce the country’s investment attractiveness and thus harm investment dynamics.

Ukraine is calling on the West to introduce a no-fly zone to stop Russian bombings. Yesterday’s Russians shelling of Kharkiv, a city of 1.4 million people, killed dozens of civilians, including children. In a video message, Zelensky said it was time to block the entry of Russian missiles, planes, and helicopters from entering Ukrainian airspace.

Asian markets have been rising since opening today. Japan’s Nikkei 225 (JP225) increased by 1.20%, Hong Kong’s Hang Seng (HK50) added 0.21%, Australia’s S&P/ASX 200 (AU200) increased by 0.67% today. The Reserve Bank kept its monetary rate target at 0.1%. RBA head Philip Lowe said the war in Ukraine is a new source of uncertainty. Inflation is expected to rise amid rising gasoline prices and energy costs. This means the benchmark official interest rate will remain unchanged at 0.1% for 17 months.

Main market quotes:

S&P 500 (F) (US500) 4,373.94 -10.71 (-0.24%)

Dow Jones (US30) 33,892.60 -166.15 (-0.49%)

DAX (DE40) 14,461.02 -106.21 (-0.73%)

FTSE 100 (UK100) 7,458.25 -31.21 (-0.42%)

USD Index 96.73 +0.12 (+0.12%)

Important events for today:
  • – Japan Manufacturing PMI (m/m) at 02:30 (GMT+2);
  • – China Manufacturing PMI (m/m) at 03:00 (GMT+2);
  • – Australia RBA Interest Rate Decision (m/m) at 05:30 (GMT+2);
  • – Australia RBA Rate Statement (m/m) at 05:30 (GMT+2);
  • – Switzerland Manufacturing PMI (m/m) at 10:30 (GMT+2);
  • – German Manufacturing PMI (m/m) at 10:55 (GMT+2);
  • – Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
  • – UK Manufacturing PMI (m/m) at 11:30 (GMT+2);
  • – Canada GDP (q/q) at 15:30 (GMT+2);
  • – Canada Manufacturing PMI (m/m) at 16:30 (GMT+2);
  • – US ISM Manufacturing PMI (m/m) at 17:00 (GMT+2).

by JustForex

 

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

USDCNH Minuette Impulse Pushes The Level Of 6.238

By Orbex

USDCNH

The USDCNH pair could be forming a large horizontal correction wave ④ of the primary degree. This takes the form of an intermediate double three (W)-(X)-(Y).

At the time of writing, we are in the final part of the intermediate intervening wave (X). Only the second half of this wave is visible on the 1H timeframe chart. Most likely, wave (X) takes the form of a triple zigzag W-X-Y-X-Z.

It is likely that the wave Z can be simple in shape and take the form of a minute zigzag ⓐ-ⓑ-ⓒ. Thus, in the near future, we can expect a downward price movement in the impulse minute wave ⓒ.

The market is likely to fall to the level of 6.238. This is where the minor wave Z will be at 100% of actionary wave Y.

USDCNH

Let’s consider the second option, where the intermediate intervening wave (X) could already be complete.

Thus, in the last section of the chart, the development of the initial part of the intermediate actionary wave (Y) is noticeable. This is the final leg in the primary correction wave ④.

There is a possibility that the intermediate wave (Y) will take the form of a double W-X-Y zigzag. At the time of writing, a minor wave W has begun, taking the form of a minute standard zigzag.

This price could reach the previous maximum of 6.529, shown by wave (W).


Orbex-LogoArticle by Orbex

Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com

Ichimoku Cloud Analysis 28.02.2022 (BRENT, GBPJPY, AUDNZD)

Article By RoboForex.com

BRENT

Brent is trading at 102.30; 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 98.55 and then resume moving upwards to reach 108.45. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 92.45. In this case, the pair may continue falling towards 87.05.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPJPY, “Great Britain Pound vs Japanese Yen”

GBPJPY is trading at 154.45; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 155.25 and then resume moving downwards to reach 151.75. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 156.75. In this case, the pair may continue growing towards 157.65.

GBPJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDNZD, “Australian Dollar vs New Zealand Dollar”

AUDNZD is trading at 1.0730; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0740 and then resume moving downwards to reach 1.0625. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0765. In this case, the pair may continue growing towards 1.0775.

AUDNZD

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.