USD/TRY Outlook: Bulls Hover around 7.00 Barrier and Ready for Eventual Break Higher
The pair is trading near magnetic 7.00 barrier which so far resists attacks but maintains firm tone and shows signs that eventual break would occur soon. Shallow pullback after initial test of 7.00 level last week, signaled that bulls ignore...
USD/CHF The Bias Remains Bullish
Pivot (invalidation): 0.9740 Our preference Long positions above 0.9740 with targets at 0.9770 & 0.9785 in extension. Alternative scenario Below 0.9740 look for further downside with 0.9715 & 0.9700 as targets. – advertisement – Comment Technically the RSI is above...
WTI Oil Fell Over $4 on Monday as Negative Sentiment Dominates
WTI oil was down $4 or nearly 20% since opening in Asia on Monday, as sentiment sours again on rising fears on physical storage being nearly full and coronavirus crisis made the strongest negative impact to global demand that hasn’t...
Oil Is Suffering from Market Risks Again
Oil is falling again. On Monday, April 27th, Brent is approaching $20.30 (-5.2%) amid investors’ concerns that global stocks may yet be overlooked. Global demand for oil remains weak and that’s quite normal. However, global supply isn’t going down and...
EUR/USD Bullish Above 1.0800
Last Friday, the U.S. dollar eased against other major currencies, with the ICE Dollar Index slipping 0.2% on day to 100.29. EUR/USD rebounded 0.4% to close at 1.0821 Friday, snapping a four-day decline. The German IFO Business Climate Index declined to 73.4 in...
Silver isn’t the Shiniest Metal, But It Still Looks Good
If traders are weary of buying XAU/USD near recent highs, a better setup may be in XAG/USD! When most people think of a beautiful, shiny metal, usually the first one to come to mind is Gold. The same can be...
USD/JPY Eyeing 106.05/105.14 Support – Elliott Wave Analysis
USDJPY is in a three-wave corrective reversal, after the intial five-wave rise at the beginning of March. We know that once an impulse fully develops (in this instance wave A), that is when a contra-trend reaction may follow (wave B)....
EUR/GBP Outlook: Neutral Near-Term Tone Eyes Weekly Close for Possible Fresh Signals
The cross is holding within narrow range around magnetic converged 10/55/200DMA’s and Fibo 61.8% of 0.8281/0.9498 (0.8738/46) on Friday. Near-term action shows indecision after two-day fall resulted in marginal close below abovementioned pivotal supports but failed to extend weakness. Daily...
JP 225 Index Unable to Decisively Close Above 50.0% Fibonacci
JP 225 stock index (Cash) appears mostly flat in the very near-term as it edges sideways into the Ichimoku cloud, capped by the 50-day simple moving average (SMA) residing at the 19,779 border, that being the 50.0% Fibonacci retracement of...
US 30 Index Stands Below 50.0% Fibo, Bullish Correction In Progress
The US 30 stock index (cash) found strong resistance at the 24,443 level and the 50-day simple moving average (SMA), returning back below the 50.0% Fibonacci retracement level of the downward wave from 29,582.61 to 18,145 at 23,866. Technically, the...
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