EURO - Price can break support level and drop to $1.0370 pointsHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
Some time ago price started to grow inside a rising channel, where it soon broke $1.0255 level and continued to grow.
Then it made a correction and after this continued to move up and soon reached $1.0490 level and broke it.
After this, Euro started to decline and exited from a channel, breaking $1.0490 level too, after which continued to fall.
Price made a strong gap and dropped to support line of wedge, after which started to grow and later made another gap.
Next, EUR bounced up from support line of wedge and in a short time rose to $1.0490 level and broke it.
Now, it trades close this level and I think it can break $1.0490 level and continue to decline to $1.0370
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USD
GBP/USD Analysis – Bullish Momentum or a Pullback?GBP/USD Technical Analysis – Bullish Momentum or a Temporary Pullback?
By Dhanda The Great
The GBP/USD currency pair has been on an interesting journey over the past few months, experiencing a significant downtrend before showing signs of a bullish reversal. The big question now: Is this the beginning of a sustained uptrend, or just a temporary pullback?
Chart Analysis & Key Levels
Breakout from the Downtrend:
The pair was trading within a descending channel for months, indicating a strong bearish structure.
Recently, GBP/USD broke out of this channel, which could signify a trend reversal or at least a short-term bullish correction.
Support & Resistance Zones:
Support: The key demand zone lies between 1.2100 - 1.2200, where previous bounces have occurred.
Resistance: GBP/USD faces a crucial test around 1.2750 - 1.2800. A break above this level could propel the pair towards the psychological 1.3000 mark.
Moving Averages & Bollinger Bands:
The price is currently riding the upper Bollinger Band, which shows strong buying pressure.
Short-term EMAs (Exponential Moving Averages) are crossing upwards, signaling potential bullish continuation.
Trade Ideas & Market Outlook
📈 Bullish Scenario:
If GBP/USD holds above 1.2600, it could gain further momentum towards 1.2750 - 1.2800.
A confirmed breakout above 1.2800 would open doors for 1.3000.
📉 Bearish Scenario:
If the price fails to sustain above 1.2600, we could see a pullback to 1.2300 - 1.2200.
A break below 1.2200 would indicate bearish strength, potentially leading to 1.2000 or lower.
Final Thoughts
The GBP/USD is at a critical juncture, and traders should keep an eye on key levels. With fundamental catalysts like economic data and central bank policies, volatility is expected. A sustained breakout above 1.2800 could mark the beginning of a strong bullish trend, while rejection could send prices lower.
🔥 What’s Next?
Keep an eye on GBP/USD and be ready to react!
Let’s make 2025 the year of your financial success! 🚀💰
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EURUSD 18 Feb 2025 W8 - Intraday - EU ZEW /US ManufacturingThis is my Intraday analysis on EURUSD for 18 Feb 2025 W8 based on Smart Money Concept (SMC) which includes the following:
Market Sentiment
4H Chart Analysis
15m Chart Analysis
Market Sentiment
Some light economic news today along with the US Markets are back after long weekend.
EUR : ZEW Economic Sentiment
US : Empire State Manufacturing Index
The market still in the same sentiment detailed in my Weekly Analysis. Below a summary:
Short-Term Bias: Cautiously bullish for EUR/USD, driven by optimism over delayed tariffs, geopolitical progress, and hopes for softer inflation.
Key Risks:
A hot PCE report reviving Fed hawkishness.
Sudden tariff escalations or breakdowns in peace talks.
4H Chart Analysis
1️⃣
🔹Swing Bullish
🔹INT Bearish
🔹Reached Swing Extreme Demand
🔹Swing Continuation
2️⃣
🔹With the deep pullback to the Bullish Swing extreme discount and mitigating the 4H/Daily demand zones, price turned Bullish forming a Bullish CHoCH.
🔹The current Bullish move from Swing extreme discount to current price level having 2 scenarios (Previously I’d the following 2 scenarios where now I favors the 2nd scenario due to the impulsive nature of the move):
Scenario 1: Pullback for Bearish INT Structure and with the recent Bearish CHoCK and Minor Demand zones are failing, I expect Bearish continuation to target the Weak INT Low which aligns with the Daily/Weekly Bearish Structure/Move. (Counter Swing – Pro Internal)
Scenario 2: Bullish Swing continuation to target the Weak Swing High. Which requires to have Demand holding and Supply failing. The first sign required to confirm this scenario will be the current Demand which price is currently at to hold and we form a Bullish CHoCH. (Pro Swing – Counter Internal)
🔹With the recent moves, Supply is failing and Demand is holding solidifying the scenario that the Bullish 4H Swing continuation in play.
🔹Price swept Liq. above 30 Jan on 4H and Daily where I’d noted in the previous days analysis which can provide a decent pullback. (Bearish CHoCH is required to confirm the Sweep of Liquidity. Otherwise, it’s not enough and price will continue from the recent 4H Demand formed).
3️⃣
🔹Currently price is targeting the Liq. (Bearish CHoCK) above the recent demand which could provide Bullish continuation.
🔹Expectations is set to continue Bullish to target the Weak 4H Swing High to facilitate to the Daily and Weekly expected Bullish move.
15m Chart Analysis
1️⃣
🔹Swing Bullish
🔹INT Bearish
🔹Swing Pullback Phase
2️⃣
🔹Bullish Swing structure continuing bullish aligning with the 4H Bullish Swing continuation phase.
🔹After the recent Swing BOS, we expect a pullback which is confirmed with the 15m Bearish iBOS today.
🔹With the Bearish iBOS we confirm the 15m pullback phase to Swing EQ (50%)/ Discount.
3️⃣
🔹As price on the 4H is currently targeting the Liq. (Bearish CHoCH), expectations today is to continue Bearish to facilitate the 15m Swing Pullback to Swing Discount and mitigate the 4H/15m Demand before continuing Bullish.
The RBA just cut by 25bp: Instant ViewThe RBA have just cut their cash rate for the first time since late 2020. Using their monetary policy statement and updated forecast, I provide my instant high-level view of what this could mean fir future policy - with an update to my AUD/USD outlook thrown in for good measure.
Matt Simpson, Market Analyst at City Index and Forex.com
Falling towards 50% Fibonacci support?The Aussie (AUD/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 0.6301
1st Support: 0.6259
1st Resistance: 0.6376
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the Kiwi bounce from here?The price is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance.
Pivot: 0.5691
1st Support: 0.5667
1st Resistance: 0.5736
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USD/CAD finds support (but 1.40 still beckons)USD/CAD has spent most of the past two weeks stuck on sell mode, after its short-lived rise to the 22-year high of 1.48 came crashing down thanks to tariffs being delayed.
Due to bears closing shorts on CAD futures and bulls shying away from long USD bets, my core view is for USD/CAD down to 1.40, just above the 2022 high. But over the near term it shows the potential for a bounce towards 1.43.
Last week's low stalled around a weekly VPOC and November high. A small bullish hammer and inside-day doji also formed around the 100-day EMA, while a bullish divergence also formed on the daily RSI (2) in the oversold zone.
Bulls could seek dips towards the weekly VPOC in anticipation of a bounce to 1.4250, while prices hold above last week's low. At which point we can revisit its potential to roll over once more, in line with the core bias outlined above.
Matt Simpson, Market Analyst at City Index and forex.com
Bearish drop?WTI Oil (XTI/USD) is rising towards the pivot and could drop to the 2st support level which is an overlap support that aligns with the 161.8% Fibonacci extension.
Pivot: 71.47
1st Support: 69.15
1st Resistance: 72.74
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish momentum to extend?EUR/USD is falling towards the support level which is a pullback support that lines up with the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.0456
Why we like it:
There is a pullback support level that lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.0392
Why we like it:
There is an overlap support level that is slightly above the 61.8% Fibonacci retracement.
Take profit: 1.0532
Why we like it:
There is a pullback resistance level.
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DOGE to $69.00Historical Pumps:
DOGE had a 24,827.31% increase from $0.000088 to $0.02194 (marked in purple).
Another massive rally to $0.611315534 (~24,827.4% increase).
Projected Future Moves:
The chart includes arrows and trend channels indicating potential bullish momentum.
Price cycles align with historical breakout patterns, suggesting another surge.
July 2025 and October 2029 are marked as possible key dates.
High Volatility Indicated: ATR (Average True Range) suggests a strong price movement phase.
Reaching $69 Target:
Given DOGE’s historical exponential growth, hitting $69 per coin would require an astronomical percentage increase.
USDCAD Oversold bounce incoming.USDCAD is trading inside a Channel Up.
February's price action has so far been a strong rejection of the price near the Channel Up top with the price dropping even below the MA50 (1d).
This is very similar to the last Channel Up Top on October 13th 2022, which first dropped to the 0.5 Fibonacci level and then bounced to the 0.236.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.44750 (the 0.236 Fib).
Tips:
1. The RSI (4h) is almost oversold, which also favors buying. In fact it got rejected and currently is on the exact same levels it did in September - October 2022.
Please like, follow and comment!!
EURUSD About to turn bearish again on Double StructureThe EURUSD pair has been on a Bullish Leg since the February 09 Low and is approaching the January 27 High, which is its technical Resistance level. Technically, every such test has been rejected down to at least the 0.786 Fibonacci level but since we might be within a Channel Up, it is possible to see one last push to complete a +2.68% rise from the February 09 Low.
The 0.786 Fib then will fall below the Channel Up so to account for that technical miss of support, our Target will be the 0.618 Fibonacci level at 1.03125.
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EURUSD 17 Feb 2025 W8 - Intraday AnalysisThis is my Intraday analysis on EURUSD for 17 Feb 2025 W8 based on Smart Money Concept (SMC) which includes the following:
Market Sentiment
4H Chart Analysis
15m Chart Analysis
Market Sentiment
No major economic news for today and market sentiment still continuing as per my Weekly Analysis
4H Chart Analysis
1️⃣
🔹Swing Bullish
🔹INT Bearish
🔹Reached Swing Extreme Demand
🔹Swing Continuation
2️⃣
🔹With the deep pullback to the Bullish Swing extreme discount and mitigating the 4H/Daily demand zones, price turned Bullish forming a Bullish CHoCH.
🔹The current Bullish move from Swing extreme discount to current price level having 2 scenarios (Previously I’d the following 2 scenarios where now I favors the 2nd scenario due to the impulsive nature of the move):
Scenario 1: Pullback for Bearish INT Structure and with the recent Bearish CHoCK and Minor Demand zones are failing, I expect Bearish continuation to target the Weak INT Low which aligns with the Daily/Weekly Bearish Structure/Move. (Counter Swing – Pro Internal)
Scenario 2: Bullish Swing continuation to target the Weak Swing High. Which requires to have Demand holding and Supply failing. The first sign required to confirm this scenario will be the current Demand which price is currently at to hold and we form a Bullish CHoCH. (Pro Swing – Counter Internal)
🔹With the recent moves, Supply is failing and Demand is holding solidifying the scenario that the Bullish 4H Swing continuation in play.
🔹Price swept Liq. above 30 Jan on 4H and Daily where I’d noted in the previous days analysis which can provide a decent pullback. (Bearish CHoCH is required to confirm the Sweep of Liquidity. Otherwise, it’s not enough and price will continue from the recent 4H Demand formed).
3️⃣
🔹Expectations is set to continue Bullish to target the Weak 4H Swing High to facilitate to the Daily and Weekly expected Bullish move.
15m Chart Analysis
1️⃣
🔹Swing Bullish
🔹INT Bullish
🔹Swing continuation after BOS, Waiting Swing pullback phase.
2️⃣
🔹Bullish Swing structure continuing bullish aligning with the 4H Bullish Swing continuation phase.
🔹After the recent Swing BOS, INT structures continuing bullish and I’m expecting the 15m BOS pullback to start soon with Bearish iBOS.
🔹Current INT structures could be treated as Swing structures, but I prefer to have the 15m Swing Bullish even when we have a deep pullback.
🔹INT Structure still can hold bullish to facilitate the 4H target the Weak Swing High (Bullish BOS on 4H before pullback).
3️⃣
🔹As it’s Monday and no much catalyst Today, I prefer longs from the INT structure demand following the bullish structures on 15m and 4H while knowing that pullback can start at any time soon where I can shift to Intraday Bearish after confirmation (Bearish iBOS).
Bullish rise?The Cable (GBP?USD) has reacted off the pivot and could potentially rise to the 1st resistance.
Pivot: 1.2508
1st Support: 1.2358
1st Resistance: 1.2844
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards 61.8% Fibonacci support?The Swissie (USD/CHF ) is falling towards the pivot and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 0.8916
1st Support: 0.8752
1st Resistance: 0.9206
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce off pullback support?USD/JPY is falling towards the pivot and could bounce to the 1st resistance which is a pullback resistance.
Pivot: 151.12
1st Support: 149.37
1st Resistance: 154.33
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards 50% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which has been identified as a pullback resistance.
Pivot: 1.4106
1st Support: 1.3949
1st Resistance: 1.4300
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish rise?The Kiwi (NZD/USD) has reacted off the pivot and could rise to the 1st resistance which is a pullback resistance.
Pivot: 0.5692
1st Support: 0.5579
1st Resistance: 0.5798
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish bounce?The Gold (XAU/USD) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance.
Pivot: 2,790.01
1st Support: 2,721.96
1st Resistance: 2,929.89
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop?WTI Oil (XTI/USD) has reacted off the pivot and could drop to the 1st support.
Pivot: 71.56
1st Support: 66.57
1st Resistance: 74.65
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish bounce?USD/JPY is falling towards the support level which is an overlap support that line sup with the 78.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 151.90
Why we like it:
There is an overlap support that lines up with the 78.6% Fibonacci retracement.
Stop loss: 151.08
Why we like it:
There is an overlap support level that is slightly above the 78.6% Fibonacci projection.
Take profit: 153.71
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
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