WTI Outlook: Oil Price Stands at the Front Foot as Middle East Escalation so Far Offsets Negative Impact from Trade War
WTI oil advanced over 2% on Monday, supported by rising tensions as two Saudi tankers were attacked on Sunday. The oil price maintains strong bullish near-term stance, despite the latest news on deepening crisis between the US and China, as...
Elliott Wave Analysis: DAX Can Find Support And A Bullish Turn Around 11800-11950
Yen opened stronger and dollar rallied as stocks turned down following new Trump tweets about US-China trade deal. We see SP500 futures gaping down, same as DAX which is headed back to the lows it seems after only three waves...
Market Morning Briefing: Aussie Is Trading Just Below 0.70
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the...
Euro Advances to New Weekly High after Weak US CPI
The Euro hits new weekly high following rally after weaker than expected US inflation data pushed dollar lower. The single currency maintains bullish bias, despite Thursday’s strong upside rejection and is on track for the second consecutive weekly close in...
Elliott Wave Analysis: USD/CHF Aims Higher After A Correction; AUD/NZD Expecting a Minor Consolidation
USDCHF just came into an important support area for wave 4 around ideal 38,2% Fibo. retracement and clearly with a three-wave a-b-c corrective decline. But, only if we see a strong bounce back above 1.0160 region, only then we may...
USD/CAD Outlook: Loonie Surges on Upbeat Canada’s Jobs Data, US CPI Miss
The pair fell sharply and hit the lowest levels since 1 May on Friday, after US inflation fell below expectation and upbeat Canada’s labor data boosted loonie. US CPI rose 0.3% in Apr, missing 0.4% forecast after inflation rose by...
US 100 Index Corrects Lower, but Broader Picture Still Positive
The US 100 index retreated this week, after reaching a new all-time high in late April. However, the bears have so far been unable to push the price below the 50-day simple moving average (SMA), and as long as that...
GBPJPY Retains Downside Bias On Bear Pressure
GBPJPY retains downside bias on bear pressure as it looks to follow through lower in the days ahead. further on Wednesday following its price extension. On the downside, support comes in at the 142.50 level where a violation will aim...
USD/JPY Outlook: Bears Are Taking A Breather As Markets Await Results From Trade Talks
Bears are taking a breather on Friday following steep fall in past three days that cracked key support at 109.71 (25 Mar low) but s far failing to register close below. Overextended daily techs and markets awaiting news from US/China...
GBP/USD Outlook: Bears Show Signs Of Fatigue Above 200SMA But No Signals Of Reversal So Far
Cable holds within narrow range in European trading on Friday and attempts to stabilize above psychological 1.30 support. Thursday’s long-legged Doji suggests that strong three-day fall might be running out of steam and profit-taking may prompt recovery. With existing hopes...