💬 Description: Today, the Central Bank of Canada will announce its decision on interest rates. The rate is expected to remain at the same level. Against this background, we continue to adhere to our previous trading idea for USDCAD , namely to look up (look at the chart) . But most likely, there will be volatility during or after the meeting of the Central...
WTI Crude Oil formed a double bottom formation after a test of a solid rising trend line on a daily. Its neckline was broken this week. The broken neckline and a trend line compose a contracting demand zone now. A bullish continuation will be expected to 93.7 level from that. ❤️Please, support my work with like, thank you!❤️
Preferred direction: SELL Comment: Yesterday, oil still showed growth and we were forced to exit with a stop loss. However, the priority of sales remains and today once again we are considering sales from current prices with a target of 90.72 and even with fixation below. Thank you for like and share your views!
Preferred direction: BUY Comment: As for gold, everything remains valid. Priority shopping continues. There is a possibility that the metal will go flat against the background of the expected strengthening of the US dollar, after which it will continue to update local highs. Thank you for like and share your views!
What a pump on WTI Crude Oil. Following the geopolitical tensions, the market bounced nicely on Friday. Ahead I see a strong daily resistance: 88.4 - 88.6 area is the last resort for the sellers. If the price breaks and closes above that on a daily next week, it will be a strong bullish signal for you. You can anticipate a bullish continuation all the way up...
Preferred direction: SELL Comment: Monday's oil gap surprised everyone, but given this geopolitical background, this is not surprising in principle. The strengthening of oil is most likely short-term and a fall can be expected soon. Most likely it will be in the middle of this week. The goal of the fall will, of course, be closing the gap, and even moving...
Preferred direction: BUY Comment: The Canadian is also prone to fall against the dollar. At the moment, the price is trading at the level of 1.36545, and given this fact, in the near future the price may fall a little further below the level, in the form of a breakout. A deep potential false move down is not expected. The purpose of the purchase here will be...
Recently, more and more financial institutions have been upgrading their price targets for oil. Mostly, these forecasts were upward of $100 per barrel, with JP Morgan and some other financial entities forecasting prices as high as $150 in the coming months. About three weeks ago, we tweeted that these statements are very reminiscent of those made in the second...
💬Description: As a result of yesterday's trading day, the currency pair closed above the level of 1.35019 , which is a very significant event, especially for buyers. The dollar continues to exert pressure across the board, and with the daily close above this level, this trend for USDCAD will continue. However, most likely, growth is limited and setting targets...
Preferred direction: SELL Comment: The bearish sentiment for oil still continues. We remind you that our last short trading idea worked 100%. Now the seller’s task is to break through the support zone around level 92. Most likely this will happen in the very near future. The more global target of this sale is, of course, the level of 90.72. Thank you for...
USOIL has formed a cup and handle on the weekly and daily charts, (feel free to quickly check) so we have since seen momentum to the upside, price has no entered a consolidation and a break out can occur, both ways still possible, however early signs of POTENTIAL breakout to the upside, watch next couple of sessions :)
Preferred direction: SELL Comment: The last oil trade aimed at a short-term fall (counter-trend movement) successfully closed with a profit. At the moment, a sell setup has also formed, and here most likely the rollback will be deeper. The correction potential lies at the level of 92.50. Thank you for like and share your views!
Preferred direction: BUY Comment: Oil continues its steady strengthening, and the medium-term outlook for instruments is positive. However, now, most likely, the price will go for a correction, and it is expected that the instrument will reach level 92, where the balance for pushing is located. In addition, there is a small probability that the price will...
A previous gold pattern could be in the making on the oil chart. If the similarity persists, oil prices may rise drastically
Here is my latest structure analysis for WTI Oil. Resistance 1: 81.4 - 82.1 area Resistance 2: 84.2 - 84.9 area Support 1: 76.8 - 77.3 area Support 2: 73.9 - 74.1 area Consider these structures for pullback/breakout trading. ❤️Please, support my work with like, thank you!❤️
Preferred direction: BUY Comment: The buy scenario remains relevant. Additional pressure on the Canadian dollar has a downward trend in oil. Several important economic data are expected to be released today, both for Canada and the US. Undoubtedly, their results will affect the course. However, from the point of view of technical and volume analysis, most...
The Gasoil chart also has several alternatives to how it can shape the end of the uptrend. I indicated them on the chart below. Black labels mark the alternative scenario. Probability is not much different from each other. In summary, we have to prepare for a volatile environment which would be difficult to orientate until it is over and wave of X is formed.
Preferred direction: BUY Comment: Almost only one currency pair fell under Friday's profit-taking, and that is the Canadian dollar. In addition, the pressure on the currency continues to have a fall in oil prices, which is likely to continue. Against this background, it is expected to break through the level 1.32399 soon, and further growth on the impulse to...