2022

USDCHF hits resistance The Swiss franc rallies across the board as traders dump risk assets for safe haven ones amid uncertainty. The latest rebound came to a halt at 0.9370 from the late March sell-off. The RSI’s double top in the…
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Over the weekend, it emerged that Tesla CEO Elon Musk would not be taking a seat on Twitter's board of directors. And that is quite significant. Musk announced he had bought a 9.2% stake in the company, and became the largest shareholder.…
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The current GBPUSD structure suggests a correction decline within the major trend. This takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. A bearish wave Ⓨ is currently developing. Wave Ⓨ is a triple zigzag (W)-(X)-(Y)-(X)-(Z) of…
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USDJPY consolidates gains The US dollar rallies as the 10-year Treasury yield hits a three-year high. Price action has been treading water after it bounced off 121.30. The RSI shot back into the overbought area and could limit the…
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EURUSD falls over hesitant ECB The euro softens over stark policy divergence from hawkish FOMC minutes. Soaring energy prices have pushed inflation in the eurozone to a record high of 7.5%, and the ECB is under intense pressure to…
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For a long time, there have been moves to replace the US dollar as the world's reserve currency. With the kind of sanctions imposed on Russia over the war in Ukraine, several countries have renewed their interest in moving away from the…
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In the long term, EURUSD suggests the formation of a horizontal pattern. This is most likely a contracting a-b-c-d-e triangle of the cycle degree. At the time of writing, a bearish wave d is under construction, which is a complex…
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USDCHF tests key resistance The US dollar edged higher supported by better-than-expected initial jobless claims. The pair continues its journey upward from the demand zone near 0.9200. The rally is gaining momentum after a break…
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Yesterday, WTI Crude closed below $100/bbl for the third time since the start of the Russia-Ukraine war. Unsurprisingly, the USDCAD has been rising over the last couple of days as crude represents the largest export from Canada. But now…
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