2020

GBPCHF tested the 1.2017 high at the 61.8% Fibonacci retracement of the 1.1620-1. 2260 leg. At the time of writing, prices are pulling back towards the Ichimoku cloud. This is where the 38.2% retracement lies, by 1.1867. With a close…
Read More

Mixed FOMC Minutes Support the Dollar The US dollar saw a correction across the board on Wednesday as the FOMC minutes revealed concerns regarding the road to recovery. Policymakers hinted at further aggressive stimulus measures and…
Read More

Crude Inventories Fall Again Crude oil prices have remained buoyant this week as the latest data from the Energy Information Administration announced a further fall in US crude stockpiles. The EIA confirmed that in the week ending…
Read More

The precious metal is trading on a weaker note on Wednesday following two days of consecutive gains. Price action is reversing direction just below the 1988 level of resistance. Ideally, we expect to see gold rising toward this level…
Read More

Oil prices are trading a tad weaker with the OPEC meeting underway. No official word has been made so far, keeping oil prices mixed for the moment. With President Trump postponing trade talks with China, investor sentiment fell.…
Read More

The British pound sterling made some gains intraday but gave them back rather quickly. Price action is holding up steady to the upside with GBPUSD targeting the 1.3300 handle. The current price action indicates that we could see…
Read More

The common currency has resumed its bullish momentum, but prices are struggling near the trend line. The consolidation is likely to continue into the FOMC meeting, following which we could see a potential move in either direction. The…
Read More

Greenpeace Protests On Tuesday Shares in French energy producer and provider, Total, ranked the fourth-largest company of its kind globally, are trading 0.5% lower pre-market on Wednesday. Shares suffered over the last 24 hours in…
Read More

The USDCNH formation hints to a cycle degree a-b-c zigzag, currently in wave b. Cycle degree wave a took the form of a 5-wave impulse upon completion. We then saw the development of a bearish correction which hints at a simple zigzag…
Read More

The EURNZD trades in an ascending regression channel as it maintains its push towards fresh highs. A rally towards the upper channel caused a rejection at 38.2% of the 1.99-1.7160 Fibonacci Retracement. Prices are now hovering in the…
Read More