USD/JPY Challenges Next Support Zone At 107
The USD/JPY is testing the 50-61.% Fibonacci levels of wave 4 vs 3 (pink). A break above the resistance zone (red) could indicate a bullish breakout towards the Fibonacci targets of wave 3 vs 1 whereas a bearish breakout below...
GBP/USD Outlook: Reaction on Court Rule Below Expectations, Downside Remains at Risk
Cable regained traction and tested again 1.2500 barrier in early US trading, following mild initial reaction on UK Supreme Court’s verdict that PM Johnson’s suspension of parliament was unlawful. Fresh bulls need sustained break above 1.25 handle (after recent attempts...
WTI Oil Outlook: Oil Price Holds Bearish Bias But Cracked Pivotal Supports Still Hold
WTI oil price remains in red on Tuesday despite Monday’s strong downside rejection at $57.33 and failure to close below cracked pivotal supports at $57.74 (10DMA) and $57.44 (Fibo 61.8% of $53.93/$63.12 jump). Weak economic data from Europe and Japan...
Market Morning Briefing: Aussie Remains Stable Above Its Support At 0.6760
STOCKS Right now it seems that India zigs while the world zags. Yesterday saw another strong rally in India while there was the expected consolidation/ profit-taking in most other global indices. It might be prudent to expect Indian indices to...
Copper Testing Key Support
Following this morning’s publication of poor manufacturing data from Germany, copper was among the markets that fell as investors worried about a recession in Europe’s largest economy. But with US-China high level trade talks set to resume in October, it...
WTI Oil Outlook: Oil Price Cracks Pivotal Supports On Fresh Optimism Over Saudi Production Recovery
WTI oil price changed direction and fell below important supports at $57.66/44 (10DMA/Fibo 61.8% of $53.93/$63.12) on Monday, following the latest news that Saudi Arabia is restore production from oil facilities damaged in attack last week, as soon as next...
Market Morning Briefing: Pound Has Come-Off Sharply From The High Of 1.2582
STOCKS Indian Equities came in from the cold with the big bank tax cut on Friday, with the Nifty closing substantially higher at 11274.20. Thankfully, we had waited for a day before going bearish on Friday. The Nifty is now...
China Has Instant Response to Trump Comments
It appears China may not be buying more agriculture products from the US any time soon as both the Montana Farm Bureau and the Nebraska Department of Agriculture have said that the Chinese delegation has canceled visits with them and...
GBPNZD’s Nearly 2-Month Rally Dries up ahead of May High
GBPNZD after a decisive push north on September 13, fell inches short of the May high of 2.0020, plotting a shooting star suggesting the bears have taken control. The pattern was followed by an engulfing candle, backed by the momentum...
EUR/USD Outlook: Euro Eases Towards 1.10 Support after Repeated Rejection at Trendline Resistance
The Euro fell near 1.10 support in mid-European/early US trading on Friday, following repeated upside rejection at bear-trendline, drawn from 1.1412 (25 June high) and reinforced by falling 30DMA. The US dollar regained traction on Friday, pushing the single currency...
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