Today we look at the strong finish to last week that saw yet another successful buy-the-dip impulse, even if there are signs of considerable divergence. Also on the agenda today, a look at the weakening credit impulse in both the US and China and the forward implications for growth headwinds,...
COT: Gold bought, oil and copper sold on virus concerns
Futures positions and changes made by hedge funds across commodities, forex, bonds and stock indices up until last Tuesday, August 17. A week where emerging risk adversity set the agenda with focus on the delta variant and the risk of an earlier than expected unwinding of the Fed's massive stimulus...
EURUSD Facing bullish pressure | 23 Aug 2021
EURUSD has reached a bottom and has formed a possible double bottom pattern. With technical indicators now showing room for further bullish momentum, a further push up above our entry at 1.17033 towards graphical swing high resistance at our take profit level of 1.17262 could be possible. Any opinions, news,...
USDCHF Facing bearish pressure | 23 Aug 2021
USDCHF holding below descending trendline resistance. Technical indicators are showing room for further bearish momentum as well. An intraday drop below our entry at 0.97178 towards Fibonacci confluence zone and our take profit at 0.91495 could be expected. Any opinions, news, research, analyses, prices, other information, or links to third-party...
AUDUSD Facing Bullish Pressure | 23 Aug 2021
AUDUSD is facing bullish pressure. With price breaking above moving average support to the upside and also holding above ascending trendline support, a further push up above our entry at 0.71431 towards graphical overlap resistance and our take profit at 0.72434. Any opinions, news, research, analyses, prices, other information, or...
AUDJPY short burst of bullish momentum | 23rd Aug 2021
Price have made a lower low which confirms overall bearish trend for AUDJPY however price has potential to bounce up to create a higher low hence our bias for the short term is bullish . Price is expected to push up to resistance level in line with 161.8% Fibonacci extension...
CADJPY continuation of bullish momentum | 23rd Aug 2021
Price is seen to holding below the H4 ascending support turn resistance however, price is also holding above the daily and weekly ascending trendline support, hence our overall bias would be a bullish momentum. Price has just bounced off the 1st support which is in line with the 100% Fibonacci...
USDJPY approaching pivot, potential for further upside
Price is reacting above our pivot level at 109.76 which is in line with 38.2% Fibonacci retracement level, 61.8% Fibonacci retracement level & 20EMA. Price could potentially push up further to resistance at 110.44, which is in line with 78.6% Fibonacci retracement level, 161.8% Fibonacci retracement level and horizontal overlap...
GBPUSD above pivot, potential for a further upside
Price is reactive above pivot level at 1.36427 which is in line with -61.8% Fibonacci retracement level and 127.2% Fibonacci extension . Price may potentially swing towards our resistance at 1.36950, which coincides with 50% Fibonacci retracement level , 127.2% Fibonacci extension level and 20EMA. Stochastic is also at support...
XAUUSD approaching pivot, potential for a drop
Price is approaching our pivot level at 1,796.49 which is in line with -27.2% Fibonacci retracement level and 78.6% Fibonacci extension level and horizontal overlap resistance. Price could potentially drop towards support at 1,761.94, in line with 23.6% Fibonacci retracement level , 61.8% Fibonacci extension level and 50MA. Stochastic is...