Reference link for data points matching a clear Wyckoff Accumulation occurring in the wheat market (WEAT). This would spell for some much higher food costs in the coming years. Fits narratives of inflation worries in the coming months/years.
Expecting a double top on double divergence leading to an "M" pattern taking oil back to missed monthly pivot.
Saudis have indicated that their crude production will increase substantially come August, and it will be not by the "hundreds of thousands, not tens of thousands, of barrels.(1)"
1.) Reed, Stanley, "Saudis, Saying They Heard Price Complaints, Are...
EURUSD has put in a double bottom on the daily and is showing clear divergence on the RSI. The missed Monthly pivot level makes for the added directional bias to the long side and a sensible price target. Price confirmation off the double bottom gives an earlier entry than waiting for a w pattern and with much a better R:R assuming stops are below the lows.
Expecting USDJPY to break to the downside after a pin bar formed after penetrating the broken trendline. This is coming off multiple divergence on the MACD and this most recent top also has RSI divergence to confirm. Some might wait for an M pattern to form and adjust position size and targets but the pin bar offers an opportunity to maximize risk reward for this trade.
Double Divergence seen on RSI along with price confirmation of SO's most recent bottom. A "W" pattern is also setting up with a break above $45 further solidifying the opportunity for a low risk positional trade when taking the stated yield % into account. Pin bar seen on Heavy volume, and the most recent double bottom also coming on good volume.
Looks to be evidence of a channel change unfolding on AUDCHF. This level happens to be a 50% Fib retracement on Daily chart at support level. Multiple divergence confirms price action, and a W pattern seems to be setting up a long opportunity to test the top of the "new channel" with stops below.
Ascending Triangle pattern on 1H Chart. NZD/USD and USD/JPY both in immediate term uptrends on their 1H timeframes as well which should provide minimal pressure from bears to hinder NZD/JPY from going higher should the pattern provide a buy signal with a break above most recent highs. Measured move for profit target comes in very cleanly at next resistance level.
A close below the neckline on a Daily Head and Shoulders pattern should take EURUSD down to next support level <1.1400. Head came on strong MAC-D divergence. Weekly Chart's momentum also trading in bottom range of bollinger bands and a .382 Fib retracement from that chart's most recent leg higher would fall right at the 1.1400 level as well.