2020

The euro is building upon the dollar weakness as price broke out to a two-week high intraday before pulling back. This upside move now invalidates the head and shoulders pattern that we were watching. Price is reversing well before…
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The current NZDUSD analysis structure suggests that the primary Ⓐ-Ⓑ-Ⓒ zigzag is under development. The standard ‘three’ pattern has only its 5-wave impulse Ⓐ completed. Wave Ⓑ, which is a double (W)-(X)-(Y) zigzag, is currently under…
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Many economists are focusing on inflation as the major guide for how the economic situation post-COVID is going to evolve. April's CPI readings might be a bit too soon to measure the reaction to the massive amount of stimulus since most…
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AUDJPY has been trading with a renewed upside bias since the trendline (TR1) break of 69.96. The RSI (9) indicated two signals since May 4. Despite that, as well as the fact that the pair has been riding an ascending channel in the…
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Gold prices are retreating just after the intraday action saw prices rising to an eight-year high of 1764.92. The declines come just after the precious metal rose past the previous highs from mid-April this year. The strong…
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WTI crude oil prices are up by over 9% intraday. The commodity is back to the bullish trend after price consolidated over the past few sessions. The resulting breakout above 27.95 has now opened the way for WTI crude oil to test the…
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The pound sterling is posting modest gains after prices briefly slipped below the 1.2100 psychological level of support. The downside bias is towards 1.1950 and this little recovery could see a retest of 1.2277. This level previously…
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The euro currency is posting some modest gains on Monday. Economic data remains sparse, but the dollar pulled back, giving a boost to the euro. EURUSD maintains its upside bias after rebounding off the support level near 1.0792. We…
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Price action on USDCAD suggests that we are trading within the last primary wave Ⓒ of a simple correction. Wave Ⓒ consists of five intermediate sub-waves (1)-(2)-(3)-(4)-(5). With wave (3) completed a few weeks ago, we are now running…
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Tomorrow we have the release of the latest jobs numbers from the UK, and they are complicated. Traditionally the ILO Unemployment Rate is what often drives the market, but this time around, that's likely not to be the case. And then we…
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