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Intraday Trading

Intraday Market Analysis 09.08.2021

Jing Ren Aug 9, 2021 537 0

USDCAD grinds key resistance The Canadian dollar fell after an uptick in Canada’s unemployment rate in July. The pair has found bids at 1.2430, a key support on the daily chart. A second test of the demand-turned-supply zone around…
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Technical Analysis

Intraday Market Analysis 06.08.2021

Jing Ren Aug 6, 2021 684 0

GBPUSD seeks further support The pound bounces higher on BOE’s upbeat inflation forecast for later this year. The rally above the daily resistance level at 1.3900 is a strong sign that buyers are willing to commit. A bullish MA…
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Technical Analysis

Intraday Market Analysis 05.08.2021

Jing Ren Aug 5, 2021 706 0

XAUUSD challenges resistance Gold whipsawed after Fed Vice Chair Richard Clarida’s hawkish comment on the US recovery. The price is holding on to its gains above 1805. A previously oversold RSI has prompted buyers to bid the dip in…
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Technical Analysis

Intraday Market Analysis 04.08.2021

Jing Ren Aug 4, 2021 755 0

AUDUSD builds support The Australian dollar jumped after the RBA kept its tapering course despite dovish guidance. The Aussie is making an attempt to reverse the gears. The RSI divergence was an indication that the bearish momentum…
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Technical Analysis

Intraday Market Analysis 02.08.2021

Jing Ren Aug 2, 2021 705 0

EURUSD breaks resistance The euro inched higher after the eurozone’s Q2 GDP growth topped estimates. The pair has crossed above the 30-day moving average on the daily chart, a sign of unwavering interest from the demand zone at…
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Technical Analysis

Intraday Market Analysis 30.07.2021

Jing Ren Jul 30, 2021 555 0

USDJPY tests key support The Japanese yen finds support as June’s unemployment rate fell below 3%. A bearish MA cross on the daily chart is likely to cloud buyers’ mood. The pair has met stiff selling pressure near 110.60. The…
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Technical Analysis

XAGUSD Has Actionary Wave y Ended?

Roman Onegin Jul 29, 2021 734 0

The current XAGUSD formation hints at a large triple zigzag structure. This is where the bearish actionary wave y is in formation. The wave y has the internal structure of a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag which has ended. In the near future,…
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Technical Analysis

Intraday Market Analysis 29.07.2021

Jing Ren Jul 29, 2021 633 0

EURUSD attempts reversal The US dollar tumbled after Fed Chairman Jerome Powell said it is nowhere near a rate hike. The RSI divergence was a giveaway that the sellers may have taken their feet off the pedals. The break above 1.1820…
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Technical Analysis

AUDUSD Did Cycle Intervening Wave x

Roman Onegin Jul 28, 2021 559 0

The current structure of the AUDUSD pair eyes the construction of a triple zigzag consisting of cycle degree waves w-x-y-x-z. On the chart, we can see the end of the actionary wave y, after which the market formed a bearish intervening…
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Technical Analysis

Intraday Market Analysis 28.07.2021

Jing Ren Jul 28, 2021 752 0

XAUUSD seeks support Gold bounces back as the US dollar retreats ahead of the Fed meeting later today. The price has been treading water above 1790 as the bulls struggle to save the rebound. The dip below the psychological level of…
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