On the back of the US employment data, yesterday Gold manages to reach again 1955 without being able to cross over previous day high. Today a breakout of that level can enable an extension to the 196x level but as for now, a new low is still on the card. Here are the high low sequences:
Attacks on two tankers from Saudi Arabia reversed the early trend of crude oil.
Those attacks are targeting US and US allies interests in order to distrupt oil supply from the Persian Gulf .
So far today it has worked as planned by the perpetrators.
Waiting to see the market reaction during the US session to those attacks.
Hopefully, I reached my target yesterday of 61.03 before that “reassuring” tweet on the Sino-US trade deal.
After the very traumatic reaction from US stock markets from last Sunday news about China tariffs, it seems consistent to provide the market with less pessimistic news
The last tweet from president Trump has created a huge buying impulse....
As mentioned in my yesterday analysis 62.0x has played a pivotal role in the price action. After a reversion at that level, we have had a drop to the 61 price range.
Thanks to an anticipation of the coming data and a surprising decrease of over 3 million barrels the target I mentioned of 62.3x was quite exactly reached during the US session.
After a sharp decrease yesterday starting from the Asia session and with the lowest point during the European session, US buyers managed to resist on monthly support in the 60.7x area and swing toward 62.
Today quotation is following that pullback in order to potentially reach the 62.3x price range that was the starting area of the yesterday...
It was quite a long process to cross level 5 I suggested in my previous analysis. Considering the price action since we crossed that breakout level we have had the usual downslope after we crossed that breakout area but we can't see any real drop so far below that level 5.
I am expecting today the quotation to continue is way on the upside with a...
As you can notice recently, price action appears often disconnected with fundamentals. As for example the sharp retracement after the RBA no rate increase announcement or the last retracement in progress despite all news about US-China difficulties to reach a deal.
In other terms, we may say that the Forex market is definitely no longer WYSIWYG...
As published previously the bearish momentum has corrected each of the bullish attempts so far. The updated 120 minutes chart suggests that the market configuration hasn't changed that much from last week.
Despite that strong headwind I still consider a new attempt to the upside can be initiated from level 5 indicated in the chart. Conversely, a...
3 days ago I published my Bearish target for GBP that was reached yesterday @141 level.
it is critical in a trading plan to anticipate retracement. Retracement is a necessary step to initiate a new impulse but what I would like to simply illustrate is why retracement can be so brutal and potentially very damaging by nature.
On that 120 minutes...
In that OANDA:BCOUSD 240 minutes chart we can identify two opposite forces. On one side the momentum is correcting bullish attempts, on the other side Buyers are rescuing the price correction.
As shown in the chart step by step bullish bets managed to push the price up, one level after another level.
As we learned from Bill Williams the momentum is the last to...
Yesterday was the big day I was expecting with a 360 degrees daily swing, starting with a bullish attempt of 120 pips from 62.5x to 63.7x and a final fall of 200 pips.
It validates how critical is that area for both Bulls and Bears to shape the following trend of Brent Crude Oil.
I mentioned on my daily chart analysis yesterday an area of...
OANDA:GBPJPY I stay like yesterday on a daily perspective to show the very strong selling wick we have had yesterday during the US session when the price action met the daily Fibonacci 0.618. I wasn't expecting the quotation to reach the daily Fibonacci but I kept in mind the daily structure without changing my view because of a short term correction. My second...
OANDA:GBPJPY After a strong bullish retracement, the pair succeeded to cross the 0.618 fib level on the daily. However, just after that, we can notice a strong pullback, a sign of exhaustion that pushed GBP JPY down to the 0.5% fib level. Historically we also can notice a bearish zone just above the current higher high. We have had a selling wick just after the...
Last week was an important milestone to reach the door of a fib retracement level.
Everyone can be interested to catch the uptrend move but it’s important as well to step back on a daily time frame and to consider where we are. On one hand, we are bouncing from the low in the 50 handle which is a significant price increase. On the other hand, we are still in the...