2020

AUDUSD seems to be forming a triple zigzag pattern consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Primary sub-waves Ⓦ-Ⓧ-Ⓨ and Ⓧ are complete. In the near future, we can expect wave Ⓩ to lead prices higher to 0.773. At that level, wave Ⓩ will…
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Challenges Persist for the Dollar The US index continued its fall yesterday. It closed under 93 for a fourth consecutive day. Increased doubts about the durability of America’s economic recovery assisted the decline. In addition,…
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The precious metal is resuming its bullish trend with price action trading slightly above the 1972 level of resistance. A strong close above this level or at the very least a bullish continuation is required  This will confirm the…
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Crude oil prices continue to maintain its recent range, albeit price action is recovering from last Friday's slump. Oil markets will be looking for cues from the OPEC+ meeting this week, which is due on Wednesday. Price action is firmly…
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The British pound sterling is on a steady course and is likely to close with a three-day gain. Price action is, however, still below the key technical resistance level of 1.3122. A breakout above this level is required to confirm…
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The euro currency is on track to post gains for the fourth consecutive session. The common currency is rising once again on the back of a weaker USD. Price action is still a few pips away from the 1.1900 level. But a breakout above…
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Alibaba Lower Pre-Market Shares in Chinese technology company Alibaba are trading 1.62% lower pre-market on Monday. The company has been hit by recent headlines highlighting fresh threats from President Trump. Following Trump’s ban on…
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The GBPJPY structure hints to a triple zigzag consisting of primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the time of writing, the final wave Ⓩ is under development. This takes the form of a standard (A)-(B)-(C) zigzag. Intermediate sub-waves (A) and (B)…
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The meeting of OPEC's ruling commission hasn't even started yet, and there have already been issues. It was originally supposed to happen on Monday and Tuesday this week, with a declaration at the end of Tuesday's session. However,…
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USDJPY Rises Back as Trade Talks Resumes The US dollar has seen its sell-off stalled across the board as investors await new catalysts for the next directional move. While bargain hunting and short covering have helped the…
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