Potential Oil short at $55 for a continuation to the downside subsequent to the pullback that is being observed which reached lows circa $53 per barrel
The pair is reaching the 1.334 area where there lies a key area of resistance (SZ + FIB) and on the lower time frames it’s rejecting the previous Asia session high. Bearish Bias: Clear rejection with the close of the 4hr candle could confirm bearish movement back down to 1.32 psycho level. Bearing in mind the pair has been in an overall uptrend from the 18th...
Bear run started on 01/08 with a pullback to 0.98 before what we could see as a continuation to the downside. Gold seems to be showing resistance at psycho 1500 mark and DXY resisting FIB level after having just broke 98 last week. F + P + G DXY: Gold:
Bearish run kicked off on 22/07 and dropped in excess of 400+ pips; this run had ended on 7th August at which bulls made an attempt for a recovery- now there seems to be a pullback before the pair potentially shoots upwards. DXY cleared the 98 hurdle but seems to have come to resistance at FIB level. Fundamentals: The pair remained on the defensive and traded...
UJ short upside limited given recent fundamentals. Supported by DXY reaching 98 and showing signs of a rejection on 4hr TF. "Despite the renewed strength, the growing recession fears, as signaled by the US 2-year-10-year Treasury yield curve inversion will continue to keep the bulls on the edge. Therefore, any upside in the pair is likely to be short-lived, as the...
Sellers bullish run started 1/8 caused the pair to drop in excess of 400+ pips, now with the reversal to the upside in full effect. Forecast below shows expectation for a pullback down to 106 psycho before continuation back up; potential target 107. DXY seems to have also gained traction as forecasted earlier this week in response to positive CPI data coupled with...
Greenback reached 98 mark and is starting to show signs of resistance on 4hr TF. On one hand could break through and work its way back up to 98.93 which we saw two weeks ago- move could be supported with positive CPI data that's scheduled to be issues later today. On the other hand growing recession fears, as signaled by the US 2-year-10-year Treasury yield curve...
4hr engulfing candle and currently testing FIB + DXY seems to be clearing to the upside after consolidation and break of 97.8. Will need to see Oil weaken for big moves after retest off 4hr TL. DXY: Oil:
Rejection off 0.68 handle. Need to be wary keeping position open over night as wage price index released at 2:30am. Confluences: Fib, 0.68 psycho, 4hr R. DXY: Gold:
Sellers bullish run started 1/8 caused the pair to drop in excess of 400+ pips, 4hr seems to show a slowdown in momentum- potential reversal off zone + TL. Targeting 106. Confluences: DXY, TL, P Zone DXY:
Approaching 1.12 psycho zone, pair has been consolidating for a while. A rejection off key level from DXY may be just what's needed for some movement from the pair towards the downside. Multiple confluences including the following: 4hr TL + Psycho Z + F + R + DXY TL. Possible entry on close of 1hr candle. DXY:
DXY rejecting zone, potential for rise back up to 97.72 area... Lack of any fundamentals today to shift markets substantially.
Rejection off Fib and TL, supporting a long on this pair targeting previous highs circa 1.334. Oil rejected clean off $55 and DXY respected zone and expecting continuation to the upside. DXY: Oil:
Gold seems to be holding above 1500, it's reaching area of resistance/supply zone which could be a good time for shorts.
NZDUSD Buy Potential Pair showing resistance around 0.65 psycho, showing potential early signs of a reversal to the upside subsequent to the 280 pip drop from last week. Confluences: rejection off daily TL + 0.65 psycho handle + oversold conditions + DXY downside rally subsequent to reaching 2 year highs and breaking through key levels. Alternative view: Need...
H+S pattern on shorter 1hr TF with scope for a valid short set up should the pair close below the neckline + FIB zone identified. DXY seems to have retested off 4hr TL as shown on graph and a break above around 97.6 may confirm this. Confluences: DXY upward momentum, H+S, 1.12 psycho zone. Alternatively: Trade tensions and release of more information affecting...
The price of crude has been under immense pressure since Trump announced fresh tariffs on Chinese imports leading to the U.S. oil benchmark suffering its biggest one-day fall in more than four years. Drop has caused Oil to reach 4hr TL at which there seems to be some resistance.. Upside potential labelled on chart, however should Oil continue to drop could see a...