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Forex
EURUSD: Recent Decline Part of Correction
The current EURUSD structure suggests that we could be looking at the final part of a cycle-degree zigzag consisting of sub-waves w-x-y.
At the time of writing, wave y seems to be under construction. This is also a primary-degree Ⓐ-Ⓑ-Ⓒ… Read More
What Is the “Kelly Criterion” in Forex?
Put simply, the Kelly Criterion or Formula is a way to calculate how much of their assets a Forex trader should risk on any given trade in order to maximize the return.
It became notorious among equities traders because it was said that… Read More
EURAUD – Potential Quick Minor Correction Prior to Further Retrace Lower
The pair did a swing low to 1.6779 on March 5th and then a swing high to 1.9799 on March 19th. It is currently on a retrace and posted a low of 1.7672 so far.
Big swings are in play on the FX front since central banks started lining up… Read More
Metals Rally Amidst Market Stabilisation
Gold
It’s been a much quieter week for the yellow metal on the back of the recent volatility we have seen in prior weeks. The ongoing coronavirus situation continues to dominate market news-flow and remains the key catalyst for price… Read More
What 15M bpd Cut?
Oil's surprise move supported loonie yesterday following Trump's twit on SA and RU cutting production, however, will it really last given no official announcement was made by OPEC+? Meanwhile, the US and the UK are the only countries that… Read More
XAUUSD Attempts to Move to the Upside
Gold prices are slightly bullish, rising over 1.50% on the day. Price action reclaimed the resistance level of 1594.
This puts the upside bias into the picture. In the event that prices pullback lower, then we expect the 1594 level to… Read More
Crude Oil Rises to a 2-week High
Oil prices are caught in a bid, rising to a two-week high. The gains came after President Trump’s announcement about a possible OPEC supply cut.
WTI crude oil rose to intraday highs of 27.31 before retracing some of the gains.
Despite… Read More
GBPUSD Continues to Maintain a Sideways Range
The British pound continues to trade flat, maintaining a sideways range since March 27.
The Stochastics also remains rather flat in the near term. This suggests that the momentum is still weak at the moment.
However, we expect to see… Read More
Euro Maintains declines amid a strong USD
The euro is down another 0.8% on the day. The declines could likely see a move to the lower support level at 1.0787.
There is scope for a modest rebound ahead of the decline to the support level. However, the resistance level at 1.1030… Read More
NFP Preview – the Worst Yet to Come
The US didn’t start taking stringent measures against the pandemic till around mid-March. The rest of the world, on the other hand, had been sounding the alarms for weeks.
The true impact of the virus on job numbers will appear in… Read More