Market Analysis – May 5 Gold reached its highest price of the year this week. The price rallied from a bullish order block resting on the support level of 1958.0 to the supply level of 2068.0 Gold Key Levels Resistance Levels: 2068.0, 2080.0, 2100.0Support Levels: 1958.0, 1868.0, 1804.0 Gold Long-Term Trend: Bullish Gold has defied […]
Market Analysis – May 5 US Oil price has declined quickly after a false breakout above 81.130. This week, the market reached its lowest price so far at 66.000. US Oil Key Levels Resistance Levels: 81.130, 89.000, 92.800Support Levels: 73.200, 66.000, 62.000 Oil Long-Term Trend: Bearish Oil price fluctuations have been very erratic in recent […]
The Swiss franc emerges as a top-performing currency against the US dollar in 2023, and investors are loving it. While other currencies have struggled to make headway against the dollar, the franc has managed to hold its own and even make gains in the current economic climate. This trend is likely to continue as US […]
Market Analysis – May 2 The US 30 Bulls have attempted to rise beyond 34381.0 key level but have failed multiple times. The last attempt on the first of May has led to the formation of a double-top bearish reversal pattern below the stiff resistance zone. US 30 Key Levels Demand Levels: 32751.0, 31718.0, 30171.0Supply […]
Market Analysis – May 4 FTSE 100 is currently reversing in the premium region of the last bearish displacement on the 24 hour chart. The lower timeframe market structure has exposed the change in market direction, with the bearish reversal at 7887.0 FTSE 100 Key Levels Demand Level: 7622.0, 7311.0, 7079.0Supply Level: 7887.0, 8200.0, 9000.0 […]
Market Analysis – May 4 The market trend is well defined by the downward-sloping channel on the daily timeframe. The demand level of 0.9770 halted the descent of the price, causing a false breakout and an abrupt reversal in March. The demand level is still well-defended, as the price decline was stopped upon the test […]
Market Analysis – May 1st GBPUSD is making its third attempt since November to bridge the resistance zone of 1.2459. The contention at the key level has been so stiff that the market has remained in the zone for a few days. GBPUSD Key Levels Demand Levels: 1.1900, 1.1100, 1.0700Supply Levels: 1.2450, 1.3100, 1.3700 GBPUSD […]
Market Analysis – May 3 USDCAD remains bullish despite a false breakout at diagonal support. While the overall trend is weakly bullish, the directional bias of USDCAD is bullish. The price is likely to keep appreciating until a successful breakout occurs on the downside. USDCAD Significant Zones Demand Zones: 1.32260, 1.27280 Supply Zones: 1.38620, 1.39780 […]
Despite facing significant headwinds in recent weeks, the Canadian dollar, also known as the Loonie, has demonstrated remarkable resilience. With a major sell-off coinciding with declining crude oil prices and ongoing banking crises, it’s been a challenging time for the Loonie. However, positive economic indicators and supportive data have helped the currency consolidate and maintain […]
