Crude Oil 4 Hour cycle is bullish against 2/11/2016 (26.05) low and 1-hour cycle is bullish against 6/21/2017 low (42.05). Oil has ended cycle from 8/1/2016 low (39.19) and currently correcting that cycle in 3, 7, or 11 swing in wave IV. As far as bounces fail below 70.44 high, expect Oil to extend lower 1 more leg before the rally resumes. We favor the downside...
USOIL the pair traded in bullish trend , After API surprised markets with a 1.1-million-barrel build in crude oil inventories yesterday, the EIA reinforced the mood by reporting a 2.2-million-barrel build for the week to April 20,The effect of EIA’s latest inventory report on oil prices would be interesting to watch; API’s figures seemed to remind market players...
EURUSD the pair overall still bullish trend, the pair trade in large range bound between 1.22 to 1.2450 last week but the overall theme of the week was that of dollar strength. earlier the dollar weakening all across the board Due to the decision of the US administration to impose tariffs on various Chinese goods.This has led to some choppy trading in the pair as...
AUD/USD A hotter-than-expected Chinese industrial production figure is good news for the Aussie dollar, a proxy for China.The data, though positive, is likely being taken by trades with a pinch of salt, given the Lunar New Year holidays usually distorts the economic numbers. Also, mild risk aversion as represented by a 0.20 percent decline in the S&P 500 futures...
USOIL the pair drop more than 8% on Friday , Strong production data reported this week by the Department of Energy, was likely the catalyst for the selloff although the general risk off trade also played a role, overall global demand is as strong as it has been in at least eight years,Data from China General Administration of Customs showed that China’s oil...
USD/JPY the pair is overall still under pressure with Japanese Yen outperforming against its major counterparts, but recent price action highlights the risk for a larger rebound in the exchange rate as the pair fails to test the 2018-low (108.28).Fresh comments from Fed officials have done little to alter the near-term outlook for USD/JPY as Dallas Fed President...
USOIL the pair rally after the news that a pipeline in Libya exploded, knocking a sizable portion of supply offline. Prices remained elevated, as the issue will reduce production by nearly 100K barrels of oil a day. on the otherside ,technically the pair look strong, we can see soon 60.50/61.60, but currently the pair pause on touch at $60.00 barrel, on daily...
GBPUSD the pair early gain yesterday after reports surfaced that an initial Brexit deal between the UK and EU was close to being reached but it reversed course after this confirmation that no deal had been reached yet. The losses may be limited for the time being, however, as both May and Juncker were optimistic that an impending agreement was still likely.As...
NZDUSD the pair fall again after there was no hawkish statement in emollient parliamentary testimony, The pair shows sideways trading since morning keeping its stability above 0.6900 level, As technically the pair trading above support zone 0.6852 with the double bottom candle pattern on Daily time frame, we can see rally to test 0.6980/0.7710, Longer-term...
AUDUSD the pair have recovered from early session weakness and are now trading higher, resuming the rallies that began last week with the release of the dovish Fed minutes, As technically the pair trading on 1hr support zone with 200 MA , we expect short term bullish momentum towards test his resistance zone 0.7645/0.7680, if break these level we can see another...
