Market Morning Briefing: Dollar Index Has Broken Below 90
STOCKS Asians are trading weak. Nikkei has failed to break above 28500 and keeps the bearish view intact. Shanghai has to sustain above 3500 to breach 3525 and rise further. Sensex and Nifty have closed higher yesterday but have to...
EURCHF Bearish Pressures Fumble ahead of 1.0900 Defences
EURCHF has faded from the near 20-month peak of 1.1151 below the Ichimoku cloud but negative momentum seems to be dwindling around the 100-day simple moving average (SMA) at 1.0943. The 100- and 200-day SMAs are shielding price improvements, while...
EUR/AUD 4H Chart: Bulls Could Prevail
The common European currency surged by 1.51% against the Australian Dollar during last week’s trading sessions. The currency pair breached the 50– and 200– period SMAs last week. All things being equal, the exchange rate could continue to edge higher...
Elliott Wave View: XME Should See Further Upside
Short Term Elliott Wave structure for XME (S&P Metals & Mining ETF) suggests the rally from March 25, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Wave 3 of this impulse ended at 47.27 and pullback...
Global Sugar Supply Shortage Propels Price
Brazil, top exporter of Sugar, experiences record prices of ethanol as Covid-19 restrictions ease. Consumers take advantage of the easing and start travelling again, increasing consumption of biofuel. This means that mills can start processing more sugar cane into ethanol,...
What is Pushing USD/CAD Lower?
Since the Bank of Canada met on April 21st , when they cut bond purchases from C$4 billion/week to C$3 billion/week, USD/CAD has been in a freefall. Price has dropped from 1.2654 on that date to a low of 1.2046...
NZDUSD Gains Impetus Within Bullish Channel
NZDUSD is in the process of recapturing the ground above the Ichimoku cloud after recently bouncing off the 200-period simple moving average (SMA) around 0.7134. The flattening demeanour of the 50- and 100-period SMAs is reflecting the recent dwindling in...
Copper Futures Enter Bearish Phase After Record Highs
Copper futures for July delivery started a new bearish phase on the four-hour chart after their impressive rally matured near a new record high of 4.883. Having crossed below its 20- and 50-period simple moving averages (SMAs), the price is...
GBPJPY Sellers Unable To Effectively Contest Ascent
GBPJPY is edging across the 153.39 level, which happens to be the previous high. The price is obeying this border as negative pressures lack the backing to gain an advantage. That said the advancing simple moving averages (SMAs) are endorsing...
EUR/USD Approaches Key Resistance At 1.2150 Decision Zone
EUR/USD has made another bullish bounce at the 21 ema zone after breaking the resistance trend line. Price action, however, is reaching a critical resistance. The EUR/USD is expected to build a larger ABC (orange) pattern in wave 4’ (pink)....
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