2020

The Pound sterling continues to trade flat with prices drifting above the lower support level of the range at 1.2277. With the minor resistance level at 1.2423 coming in, to the upside, GBPUSD could continue to drift sideways. For the…
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The euro currency is posting modest gains after consolidating near the technical support level of 1.0818. Price action is slightly bullish at the moment, but the bias will not shift unless EURUSD breaks out above 1.1000 level of…
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The current XAUUSD formation hints to a 5-wave impulse consisting of cycle waves I-II-III-IV-V. Wave V consists of primary sub-waves ①-②-③-④-⑤. Currently, correction ④ seems to be forming an intermediate  (A)-(B)-(C)-(D)-(E) triangle.…
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This week we have two major economies reporting their GDP numbers for the first quarter. First up is the UK, and then we have the euro area numbers. But what really moves the market is the report from Germany. These are the preliminary,…
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NASDAQ only missed the 9375 top by a few pips. However, that follows multiple attempts to break the ascending channel starting Mar 26. That suggests a reasonable failure as the lower channel has been a hurdle for bulls since May. Despite…
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Gold prices are trading a tad weaker, giving up some of the gains from the previous session. Despite price action breaking past the 1712.47 level, gold prices have slipped back below. The downside bias is toward the support at…
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Volatility in WTI crude oil prices are lower once again. This comes despite oil prices breaking the rising trend line. Price action is firmly trading above the 25.00 level which marks the support level. As long as this support holds,…
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The pound sterling briefly accelerated the declines intraday. However, price quickly reversed the gains following a test to the lower support level at 1.2277, just a few pips higher. The sideways range between 1.2485 and 1.2277 will most…
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The euro currency is trading consistently close to the confluence of the rising trendline and the horizontal support level at 1.0823. Price needs to close above this level for any form of upside bias to build up. The initial upside…
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