Crude Oil Look For 63.25
Pivot (invalidation): 61.70 Our preference Long positions above 61.70 with targets at 62.90 & 63.25 in extension. Alternative scenario Below 61.70 look for further downside with 61.35 & 60.90 as targets. – advertisement – Comment The RSI is bullish and...
Bitcoin Bursts Back Above 6,000
Most risk assets are selling off on fears of a negative outcome from US-China trade talks, but Bitcoin is quietly defying that trend. The world’s oldest cryptoasset has rallied nearly 100% from its mid-December lows to regain the 6k handle...
Elliott Wave Analysis: GBPAUD In A Temporary Correction; 1.860/1.870 Can Represent A Reversal!
GBPAUD looks to have found a low at the 1.853 level, from where price started to rose again. Ideally a three-wave retracement started to unfold, that can in upcoming sessions look for resistance, and a bearish turn around the 1.866/1.872...
AUD/USD Towards 0.6945
Pivot (invalidation): 0.6995 Our preference Short positions below 0.6995 with targets at 0.6960 & 0.6945 in extension. Alternative scenario Above 0.6995 look for further upside with 0.7010 & 0.7025 as targets. – advertisement – Comment The RSI advocates for further...
Elliott Wave Analysis: USDZAR and Crude Oil Beautiful Patterns
USDZAR is trading bullish but currently price may slow down in an a-b-c correction, where ideal support would be around previous wave »iv« and 14.25 level. But, any earlier strong rise back above 14.53 region would be an indication of...
USDCHF Consolidates but Holds Near 2-Year Highs
USDCHF is lacking near-term direction as the pair continues to consolidate after touching a two-year high of 1.0235 in April. The RSI has come off from overbought levels and the MACD histogram has crossed below its red signal line, pointing...
EUR/USD Climbing Higher While USD/JPY Tumbles
EUR/USD is currently trading nicely above the 1.1160 and 1.1180 support levels. USD/JPY declined heavily recently and broke the 110.80 and 110.50 support levels. Important Takeaways for EUR/USD and USD/JPY The Euro corrected lower recently and tested the 1.1160-1.1165 support...
USDTRY Flirts With 7-Month High; Extends Positive Move
USDTRY has been in a flying mode today, reaching a new seven-month high of 6.1952. Looking at the technical indicators, the RSI is still hovering in the overbought area, suggesting a possible overstretched market in the daily chart, while the...
EUR/USD Outlook: EC Downgrades Outlook and Sends Euro Lower
The Euro stands at the back foot at the beginning of US trading on Tuesday, as the weakness started in early European session on weaker than expected German data and accelerated after the European Commission in its report, downgraded outlook...
WTI Oil Outlook: Directionless N/T Mode Extends As Signals Remain Mixed
WTI oil holds in narrow range directionless mode on Tuesday, following Monday’s strong rejection at converged 200/55SMA’s ($60.64/49) and repeated failures to close below cracked Fibo pivot at $61.40 (61.8% of $58.20/$66.58 upleg). This indicates that bears face strong headwinds,...
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