WTI Oil Futures in a Flying Mode; Bullish Bias in Short Term
WTI crude oil futures have come under renewed buying interest, rising back above the 20- and 40-simple moving averages (SMAs) in the 4-hour chart after the market found strong support at the 23.6% Fibonacci retracement level of the upleg from...
WTI: Crude Oil Steady As Investors Weigh Demand Against Supply Forces
For oil, the focus continues to be mainly on the supply side of the equation rather than demand. Although concerns over demand have come into sharper focus again, owing to further weakness in economic data, ultimately, though, Saudi Arabia and...
Elliott Wave View: Nikkei Rally Likely Fails For Further Downside
Elliott Wave view is calling an end to Nikkei’s rally from December 26, 2018 low with wave X at 21884. The Index should resume the move lower and should eventually break below wave December 26, 2018 low. Or at minimum,...
GBP/USD Approaching Crucial Resistance Near 1.3300
Key Highlights The British Pound recovered nicely after trading towards the 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3120 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity...
GBP/USD Outlook: Pound Ticks Higher on News of Possible MV3 on Tuesday but Still Directionless
Cable spiked to session high at 1.3246 on comments that the third parliament’s vote on Brexit plan could be tomorrow. Pound remains volatile and very sensitive on any news regarding Brexit, though there is still long way until satisfactory solution....
GOLD Looks To Pullbacks On Corrective Weakness
GOLD looks to pullback on corrective weakness. While the commodity trades below the 1,320.35 level, risk of more decline remains. The commodity looks to move higher towards the 1,320.00 resistance zone. Further out, resistance resides at the 1,330.00 level where...
WTI Oil Outlook: Rising Concerns about Global Economic Slowdown Keep Oil Price Under Pressure
WTI oil remains in red on Monday, following bearish close last Friday that completed Doji reversal pattern on daily chart. Rising concerns of broadening global slowdown that were sparked by news from Germany on Friday that showed extending contraction of...
GBP/USD And EUR/GBP: Pound Could Recover
GBP/USD started an upward move from the 1.3000 support and it could recover above 1.3240. EUR/GBP declined recently and broke the key 0.8600 support area. Important Takeaways for GBP/USD and EUR/GBP The British Pound is showing positive signs above the...
EURUSD 1.1290 Critical Support
The euro currency has tumbled lower against the US dollar on Friday, following much weaker than expected PMI Manufacturing data from the German economy. If the EURUSD pair falls below the 1.1290 level traders should expect heavy technical selling to...
USDJPY Back To Major Support
The US dollar has moved back towards major weekly support against the Japanese yen currency after a brief correction back to the 111.00 level. A sustained move below the 110.40 support level should signal the next bear move towards the...
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