commodities

EURUSD finds support The US dollar continues to retreat as profit-taking goes on ahead of nonfarm payrolls. The latest rally found support over 1.0100 after it cleared 1.0200. A series of higher lows indicates mounting buying pressure…
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AUDUSD seeks support The Australian dollar weakened after the CPI fell short of expectations in Q2. A rally above the supply zone around 0.6960 forced more sellers to cover their bets and took the heat off the aussie. 0.6980 is the…
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USOIL suggests the development of the final part of the global impulse wave of the cycle degree. The 1H timeframe shows the final primary wave ⑤ which takes the form of an intermediate impulse. Currently, an intermediate correction…
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The XAUUSD formation hints at a global correction pattern that takes the form of a cycle triple zigzag. The current chart shows the internal structure of the bearish cycle intervening wave x. This looks completed in the form of a…
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NZDUSD tests support The New Zealand dollar consolidates as the RBNZ raises its interest rates by 50 basis points. The struggle to clear the supply area around 0.6200 suggests that the sell side still has a firm grip on the direction.…
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The internal structure hints at the formation of a bearish correction pattern. This takes the form of a cycle triple zigzag w-x-y-x-z. Currently, we see a completed actionary wave y. This has the form of a primary double zigzag…
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Oil continued its slide to a 12-week low on fears of a global recession. A strong dollar coupled with increasing Covid-19 cases in China, saw the sell-off continue. Further lockdowns in the world's biggest oil importer could shake up…
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GBPUSD tests daily resistance The pound surged after the UK saw a jump in average earnings over the past three months. Solid bullish momentum above 1.2400 has prompted sellers to cover their positions, exacerbating volatility in the…
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