Uncategorized

Price action on USDJPY has been bullish since the 106.00 takeover on May 07. One swing low at 106.25 and one at 106.75 have both supported the upside initiative since. The latter, followed by a break above the descending trendline…

Last Week’s Highlights US manufacturing PMI from ISM falls to an 11-year low The latest manufacturing PMI from the Institute of Supply Management showed activity falling to an 11-year low. The index fell to 41.5 in April, down from 49.1…

The current EURUSD structure hints to a zigzag consisting of waves Ⓐ-Ⓑ-Ⓒ. The primary wave Ⓑ of the bearish pattern is a zigzag. Wave Ⓑ of (B) seems to have taken a triple zigzag W-X-Y-X-Z formation. The bullish price action suggests…

Euro has been on a defensive stance across the board recently. Riskier assets, on the other hand, have been upbeat. This was led by the upside in WTI oil's upside and by economies re-opening. Will it last though? And if yes, how long…

Gold The yellow metal started the week on a soft footing. Prices retreated towards the 1679.87 support level. This saw demand kick in fuelling a strong reversal higher to take gold positive on the week once again. The reversal higher on…

Markets have a tendency to, shall we say, overreact. After all, the trick is to get in the market before it moves, causing people to pile on rumors and drive prices on rollercoaster rides. We needn't look further than the reaction to the…

Gold prices are back up, trading close to 0.90% on the day. This marks a reversal of the declines from the previous session. Price action is trading above the 1691 level for the moment. The trend line will be of interest. An upside…

The bullish price action in crude oil continues following a dip back to the price level of 25.00. However, following this minor pullback, WTI crude oil prices are rising higher once again. If prices do not post any meaningful highs…

The British pound completed the downside target of the head and shoulders pattern. Price briefly tested the lower range level of 1.2277 before pulling back slightly. We expect a more firm test of this level in the near term. The…

The euro currency is consolidating after price action closed below the trend line in the previous session. However, with prices trading rather flat, there is scope for a rebound back above the trend line. In the near term, the price…