2020

WTI Crude oil prices made modest attempts to rise intraday. However, the gains were erased quickly. Price action turned bearish into the mid-US trading session. Oil prices fell to the 42.00 handle. Just a few weeks ago this is the level…
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The British pound sterling is extending declines for the second consecutive day. The sterling was trading above 1.3400 earlier this week but has given back the gains. At the time of writing, GBPUSD is trading near the 1.3300 level. This…
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The euro currency is posting losses and is down over 0.70% intraday. The declines come on the back of the stronger US dollar which is trading stronger for the second day. The declines in the euro accelerated after price lost the…
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Citi Sues Over Unreturned Funds Shares in US banking giant Citibank Group continue to struggle to establish momentum this week despite plenty of recent headlines. Citi, which is the third-largest bank in America, recently filed a…
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The US dollar has been losing ground the last several days thanks to a combination of factors. There is a chance that the trend could continue after the avalanche of data this week. Improving risk sentiment naturally weighs on the…
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The current GBPJPY scenario indicates primary sub-wave Ⓧ is complete. Prices are now moving up in the final wave Ⓩ. This consists of intermediate sub-waves (A)-(B)-(C). Wave (A) is a 5–wave impulse, whereas wave (B) is a simple bearish…
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EURAUD has tested levels on a trend line that has been established since the beginning of June. Prices are currently breaking through the line as we look to the momentum indicator for further clues. The hidden bearish divergence could show…
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Greenback Shrugs Off Negativity on Encouraging ISM Data The US Index turned positive closing 0.15% up on Tuesday. Even though the index touched its lowest level in more than two years, upbeat ISM data helped the greenback gather…
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The precious metal made modest gains on Tuesday as prices fell back to the support area near 1987. As long as this support holds, we could see price action attempting to push higher. However, note that the lower high could indicate a…
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Oil prices are trading modestly higher but price action still remains below the 43.50 technical resistance. The downside is also supported as the consolidation in the commodity continues with a slightly bullish bias. The support level…
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