GBPUSD Testing Pattern Break
The British pound is attempting to recover higher against the US dollar after finding interim technical support from the 1.2970 level. The four-hour time frame is showing that GBPUSD buyers are now testing back towards bearish breakout area of the...
Elliott Wave View: Further Strength In Oil
Short term Elliott Wave view on Oil suggests the pullback to $63 ended wave 4. Rally in wave 5 is currently in progress and subdivides as an Elliott Wave impulse structure. Up from $63, wave ((i)) ended at $64.61, wave...
WTI Bursts To A 6-Month High, Bulls May Target 70.00 Next
Earlier this month, we noted that April has historically been the most bullish month for West Texas Intermediate (WTI) crude oil, with the commodity gaining an average of nearly 5% in the month over the last 15 years (and a...
Brent Futures Trade Near Multi-Month High; Upward Sloping Range Holds
Brent futures skyrocketed towards a multi-month high of 74.30 earlier today but are currently moving slightly below this level. The red Tenkan-sen and the blue Kijun-sen lines are flattening below the price action, suggesting a flat bias after the aggressive...
CADJPY Squeezed by Bollinger Band; Strong Movement is Expected
CADJPY has been finding strong support on the bullish cross of the 20- and 40-day simple moving averages (SMAs) since the beginning of this month, creating a narrow sideways move above the 50.0% Fibonacci retracement level of the downleg from...
Gold Stops Sell-off Near 4-Month Lows; Eyes on Downtrend Line
Gold printed fresh losses last week after remaining mostly stable in the first half of the month, slipping near a four-month low of 1,271 on Friday. The price, however, has been flirting with the lower Bollinger band in the past...
EUR/USD Showing Signs of Weakness Below 1.1300
Key Highlights The Euro failed to break the 1.1325 resistance and declined sharply against the US Dollar. EUR/USD traded below a crucial bullish trend line with support at 1.1290 on the 4-hours chart. The US Housing Starts in March 2019...
USDCHF Faces Risk Of Price Extension On Bullishness
USDCHF faces risk of price extension on bullishness following its past week strength. Resistance stands at the 1.0150 level. A break of there will clear the way for a run at the 1.0200 level. Above here, resistance lies at the...
EURGBP Consolidates the Last 2 Months; Indicators Suggest Bullish Bias
EURGBP is in a neutral mode after tumbling below the 38.2% Fibonacci retracement level of the downleg from the 15-month high of 0.9110 to the 22-month low of 0.8470 on February 19; prices are consolidating within the 0.8715 resistance and...
US 500 Index Flies Near 6-month Peak; All-time High is Near
The US 500 index price skyrocketed to a fresh six-month high of 2918 on Thursday before it pared those gains later in the day. The price is holding above the red Tenkan-sen line as well as above the ‘golden cross’...
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