lucapoia

lucapoia Updated 

USDCAD is currently in an ascending channel, mostly due to falling oil prices and positive US jobs data. I believe we might see further gains tomorrow, but the exchange rate should fall in the medium term. Here are the main reasons: 1) At the moment, CL1! is at the lower limit of a multi-week descending channel. Indicators show it is oversold, so it will likely...

lucapoia

This chart shows the S&P index weighted by the dollar index (DXY). As you can see, it gives us a much clearer picture, and allows us to find better support and resistance levels. Why is that so? One explanation is that it shows us the S&P as viewed from the eyes of the average foreign investor, or from large investment groups which have to take into account...

lucapoia

NZD/USD made extraordinary gains despite signs of strengthening in the US economy from the positive non-farm payrolls report. This may be attributed to two facts: 1) Although extraordinary, the June report was an outlier, especially when compared to the disastrous May report, and may not reflect actual US economic conditions. 2) The New Zealand central bank...