The bearish impulsive wave that started in October 2019 is still underway.
Price should be making a short-term rally and longterm decline until the structure is completed.
Note: I will be looking to short from the blue zone.
Check Related Idea for previous analysis.
In today's #marketinsights video recording I analyse #USDTRY and #EURGBP #FXMinors!
Turkish Lira Under Pressure on:
- Risk of sanctions
- Launch of military operations in Syria
- Bank charges for money laundering and fraud
- Breather short-term amid US Retail Sales
Pound Higher on:
- Negotiations optimistic ahead of EU Summit
- BoJo's attempts to get deal...
The 3 horizontal lines visible in the main weekly chart of WTI are concrete support and resistance levels taken from monthly TF. Currently the price is at 60.00 and there is a descending trendline preventing the price from climbing further. From a technical perspective, once this trendline breaks, the price on the monthly charts must close above 63.00 concrete...
"The Washington Post came out with a news report on early Monday saying that the US State Department is set to announce that all countries will have to completely end their imports of Iranian oil or be subject to U.S. sanctions.
The report further states that the US action is an escalation of the Trump administration’s “maximum pressure” campaign, which seeks to...
Bitcoin is grossly undervalued. Looking at the price trend in a LOG format gives more of a realistic view of how Bitcoin price action works. And $100,000 is an inevitability in due time.
Currently, the U.S. controls global monetary flow. Through its virtual monopolization of FED Wire and SWIFT, U.S. can bankrupt weak countries at will...
There will be no miracle. Less revenues from falling oil market will drag the index lower
as it should be around 800 already and could hit 530 when the oil would retest a multi-year low.
The correlation index for the past 12 months shows negative correlation but it is a temporary situation
as on the longer periods (20+ months) it is positive.
This will change...
The rouble has seen weakness since the recent Syria debacle, and this weakness looks to continue longterm as shown below. But as for now, here is a shorter term outlook with a great risk/reward ratio trade.
Below is a rough longterm forecast/scenario:
the U.S. and the European Union announced a fresh round of sanctions against Russia on Wednesday 16 of July following the annexation of Crimea back in March and ongoing tensions in the east of Ukraine. The U.S. package was the largest round of penalties so far, with Russia's oil producer Rosneft hit as well as other energy, financial and defense firms....