USDCAD has climbed up to top of consolidation pattern this week, before finding resistance at previous supply zone. Price was unable to drop any further, and came back for a retest before market closing. This week, should the price be resisted at this supply zone, we can look to sell USDCAD again.
The recovery of the Dow Jones and other stock market started in mid-late March 2020. The recovery was due to the injection of money by government and central banks, NOT due to economic recovery. In fact, the pandemic was not getting any better while the stock market kept climbing. Now that it's getting really exhausting, the rising structure has started to fall...
By now, it is clear that the gold is climbing its 5th wave which is the final wave for the entire motive wave. The price was ranging previously which turned out to be an ABCDE triangle and thus we are certain that wave 4 has ended. This week, we will focus on buying the gold simply by waiting for a pullback from the current high. The price is expected to end its...
Last week, the dollar rebounded from the range bottom towards the top to stay. Buying is seen exhausting as sharp pullbacks can be seen and highs did get lower than the previous sometimes. The price is expected to climb a little further and retest the supply zone 100.68 - 100.92. This week, we will still focus on the range and look for an opportunity to sell from...
GBP/AUD is overbought levels in weekly rsi, DeMarker, and bb Weekly MACZ-Vwap crossover for short-sell Weekly Moving averages are crossing for short-sell 1.800 take-profit target and 1.9320 stop-loss Retail sales expected bullish for AUD later Bearish expected construction for GBP later NFP is bullish expected so GBP/USD are short-selling
Overall market structure is to the down side with weekly market structure(White). Currently on a pullback to .618fib that can be seen with daily market structure(Magenta). Two possible scenarios to sell. Brake structure and retest at .5 fib(Orange) or form double top and shoot down(Light Blue). Target is -.618fib(Green).
The Dow climbed at first and broke previous high but started to reverse and fell steadily throughout the last two trading days. The bearish trend has resulted in the breakaway from a bullish structure as it broke below the bottom of a rising channel. Previously, the price has also broken below the bottom of a rising wedge thus the recent break has put a stop to...
The gold fell and trade lower amid a double top last week but pulled back significantly on the last trading day. About two months ago since the huge selloff, the price took about one month to recover and even broke higher. The recovery was definitely extensive and overbought which led to a 3-week range up till now. Since it is clear that the price is trading at...
EURUSD reversed and climbed throughout the entire week but faced strong resistance as it approached the top of a bearish flag. The price has been consolidating within a bearish flag for the past 6 weeks since the plunge from 1.15 to near 1.06. The current bearish trend is no doubt part of the 6-week consolidation and should not be recognised as a newly established...
The dollar ended the week with a strong-bodied bearish candle as it fell every day throughout the week. The price is seen breaking below the bottom of an ascending triangle which was formed after the previous bearish trend started from the highest price at 103.8. Seeing how bearish the trend is last week and the fact that it also broke below a consolidation...
The Dow Jones started to recover and climbs since 23rd March, forming a 1-month rising wedge in the process. Last week, the price finally broke below the rising wedge and created a lower low. However, the price took a pause quickly and fell into a consolidation. The price retraced throughout the last half of the week, seemingly forming a retracement channel...
The main event of the past week, without a doubt, was the epic failure in the oil market on Monday and the drop of May oil futures quotes into a deeply negative zone (up to - $ 50 per barrel). We wrote about the reasons for this in our reviews. The bloodbath continued on Tuesday when the world's largest oil futures ETF fund decided to reposition itself from June...
EURUSD was trading with little volatility but managed to fall throughout the week. Both highs and lows also continued to drop lower but there are clearly some strong buyers emerging from the demand zone between 1.0721 and 1.0782. Nevertheless, thee MAs are still showing a strong bearish-bias market and the price is expected to fall eventually. This week, we will...
The gold was little changed at first but rose steadily during the 2nd half of the week. However, the price was resisted and reversed shortly and broke below a rising trendline once again. Sellers started to take control on the last trading day during the US session. As of current, the price has shown resistance and trading near the top while both highs and lows...
The dollar climbed and created both higher highs and lows throughout the entire week. The fast MAs are also bending upwards while staying moderately above the 200 MA, showing an increasingly bullish-bias market. Besides, the price has recently broken above a bullish pennant which signifies for the dollar to continue its uptrend. This week, we expect little...
The gold peaked twice at 1739 and started to fall amid a bearish butterfly formation. Gold continued its bullish stance from the previous week as it climbed steadily in the first 2 trading days last week. After peaking at 1747, a strong pullback took place and price started to fall and lower highs were formed while still supported at 1710. On Thursday, the price...