WTI Crude Oil – Trade Plan The trade idea is to stay bearish below 71.61 with a stop above 71.95 and take profit at 76.40. Good luck! Refer to our website for full articles. Thanks
Today’s session has brought serious bullish heat to the USD/CHF. Price has steamrolled through the Triple Top Pattern (.9985-.9990) and appears poised to challenge yearly highs. A short from the Triple Top Pattern/Yearly High (1.0056) is a likely profitable trade. Here it is: 1)Entry: Sell 1.0049 2)Stop Loss: 1.0077 3)Profit Target: 1.0021 4)Risk Vs Reward Ratio: 1/1
There’s a bullish trendline which is supporting the pair near $1,237. 200 periods moving average is also supporting gold near $1,237. The same level $1,237 also supported gold back in April 2017 and in July 2018. The leading indicators, RSI and Stochastics are massively oversold and are holding below 20. Is there any chance of bullish reversal? Yes, there’s a...
If there has been such a large one week draw on supply, then why are WTI prices heading south? The big reason is news out of Saudi Arabia. Production for June spiked significantly, upwards of 500,000 barrels per day. Traders have latched on to this piece of news, predicting a glut of oil to hit the market in coming months. As a result, we may get a shot to take a...
Crude Oil is still very much bullish. Despite the latest headlines on tariffs. We need to remember that commodities trend. So we have to go a fair way to the downside before that changes on a longer term basis. I'm a buyer above $72 at this stage.
The last two sessions have been good ones for the Aussie. Price has broken above several key resistance levels on the daily chart and is looking for more. Currently, price is posting a retrace of the June high (.7676) to July low (.7310) macro-wave. As a result, the macro-wave 50% and 62% retracement levels have come into view. Here is the trading plan for...
EUR/USD turned bearish yesterday after having climbed for a couple of weeks. This forex pair lost exactly 100 pips from top to bottom in the last few trading sessions. But, the decline is the attribute of the USD bulls, since they charged ahead, pushing the Buck up against most major pairs. As a result, EUR/USD extended the decline in the European session. But,...
EUR/USD turned bearish yesterday after having climbed for a couple of weeks. This forex pair lost exactly 100 pips from top to bottom in the last few trading sessions. But, the decline is the attribute of the USD bulls, since they charged ahead, pushing the Buck up against most major pairs. As a result, EUR/USD extended the decline in the European session. But,...
2,800 is now the level to crack. If we can break above it, we move into the upper half of our regression channel. And we can have a run at the highs. An upbeat tone from earnings season will help as will a strong GDP print later in the week.
I will be looking for a buying trade above 129.750 with a stop loss below 129.400 and take profit above 130.100. All the best!
In the event the USD/CAD closes negative, it will mark the third straight red candlestick on the daily chart. July has extended the negative sentiment of late June, with price seemingly on a collision course with the 1.3000 handle. If we see a continued fall, then a buy from just above the macro 62% Fibonacci retracement is good trade location to the bull. Here...
We are in a bullish trade above $1,258 with a take profit near $1,262.25 and a stop loss near $1,255. Good luck!
Looking back to 2016, the SPX has maintained a consistent trend. Thanks to the bounce on Friday we are now targeting a move back towards the highs. 2,800 is the first key target then the top of the channel is 2,900. A strong showing on Friday has helped save us from a short-term sell-off.
Friday has brought a myriad of challenges to currency players. Trade war hysteria has boiled over, with the USD fading against the majors. It appears that selling the Greenback is the play across the early U.S. forex session. The 1.3134-40 area has set up as value in the USD/CAD for the last two days. If this market tests it once again, a nice position to the...
As we can see, the volatility is really thin today as traders are waiting for the NFP figures. Gold is also stuck in a narrow range of $1,251 - $1,259. Probably we will see a breakout on NFP. So brace yourself! Stay tuned for more updates.
If we can break above 1.1700 then the risk/reward appears to be in our favour to the upside. We will need a fundamental driver to do so. Probably something negative for the USD, such as a poor jobs number or some fall out from the US-China tariffs which start today.
A bit earlier in the session, the EIA crude oil stocks report was released to the public. The data sent August WTI plunging, rapidly sliding over $1.00. Since then, volatility has calmed and price has posted a nice rebound. In the event we see a further selloff by tomorrow's close, a long trade from the daily 38% Fibonacci level is a solid way to join the...
1. The trend has turned bullish this week 2. The 20 SMA is supporting the uptrend 3. Economic data has improved 4. BOE’s Carney sounded hawkish We have been bearish on this pair for quite some time. But, the trend of the last several days has turned bullish and fundamentals are helping its cause. The economic data from the UK has been positive this week and...