2020

WTI crude oil prices are up for the fifth consecutive session. As a result, the rally in oil prices saw them trading near the 25.00 level. This marks the completion of the double bottom pattern after a successful rebound. With prices…
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The British pound sterling is caught range-bound within the levels of 1.2485 and 1.2277. However, amid this consolidation, price action is posting a bearish head and shoulders pattern as the minor neckline support level at 1.2423 holds…
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The euro currency is falling for the second consecutive day, down close to 0.60% on an intraday basis. With the declines so far, price action is erasing the gains from the previous sessions. The support level of 1.0879 failed to step…
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The AUDUSD structure shows a bearish impulse consisting of waves ①-②-③-④-⑤. The first four parts of the primary degree pattern appear to be fully completed. At the time of writing, the intermediate wave (1) of ⑤ is complete.…
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Right now, most countries are looking towards ways to ease social distancing measures that harm the economy. Therefore, the next area we need to be focusing on is employment. The evolution of the jobs market is likely to be the key to…
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The Canadian dollar has recovered a good portion of its losses against its American counterpart since the March 19th, 2020, high at 1.4668. USDCAD has maintained a sell-the-rally bias since then. The bearish move towards 1.39 is now…
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WTI Crude oil prices are up nearly 12% on the day. It was the fourth consecutive session of gains. With the price level at 17.80 being cleared, crude oil prices could be likely targeting the double bottom pattern’s target price of 25.00.…
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Gold prices are trading modestly flat with the bias staying mixed at the moment. Price action is caught between the resistance and support levels of 1712.50 and 1691.75. A breakout from this range could see a short term direction…
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The British pound sterling is back on the downside. The declines come as price action failed to capitalize on the bullish momentum from last week. GBP rose to 1.2642 highs before giving up the gains. Shy of the upside target of 1.2686,…
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The euro is paring gains from last week as price failed to breakout above the 1.1000 level of resistance. Gapping lower on the open, prices extended a steep decline, down over 0.60% on an intraday basis. This decline could potentially…
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