2020

The pound sterling is making a push back to the upside. The resistance level near 1.2643 will be challenged once again. We expect to see a breakout occurring above this level. Following a close above the trend line, we could expect…
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The euro currency was somewhat volatile heading into the ECB meeting on Thursday. However, a brief intraday dip sent the common currency to rebound off the 1.1400 handle. Price action, although trading below Wednesday's low, is poised to…
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Heavy Selling Following Scandal Following a 1.5% rally yesterday, Twitter stock prices are down over 6% pre-market on Thursday. Traders are digesting the news of a recent hacking scandal that has shaken confidence in the tech firm. It…
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In the long run, DXY seems to be forming a bullish 5-wave impulse. It consists of cycle degree waves I-II-III-IV-V. Currently, a corrective wave IV is under construction. The wave is a triple combo Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The complex pattern could…
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Corporate earnings season kicked off on Tuesday. First up were the Q2 results from three of the major US banks: JPMorgan, Wells Fargo, and Citigroup. They all reported significantly lower results compared to the prior year. This isn't…
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Inventories Fell Last Week Oil prices have seen renewed buying this week, driven in part by a positive release from the Energy Information Administration. In its latest report, covering the week ending July 10th, the EIA confirmed a 7.5…
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AUDCHF is approaching the multiyear trendline that started in Aug '12 once again. The last attempt in June '20  tipped sentiment over, however, the pair retreated only marginally. Registering higher-lows suggests that bulls could have…
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Gold prices did not make any major gains, but price action is stable above the key 1800 price level. Following the brief decline intraday on Tuesday, gold prices are trading near the previous highs. So far, gold is not showing any signs…
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Oil prices are trading about one percent higher intraday on Wednesday. Price action looks to have cleared the key hurdle near the 40.50 level. However, prices are not out of the woods yet as crude oil might still be at risk of a pullback…
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The pound sterling's attempt to break out above the key resistance level near 1.2643 was met with a strong rejection of prices once again. Price action is trading lower following a failed attempt to break out above this level. As a…
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