Price has recently broke out from the triangle and is currently retesting sell entry price of 113.620 which is also 38.2% Fibonacci retracement . Price can then potentially dip to the first support level of 111.977 which is also our graphical overlap support level . Our bearish bias is supported...
AUDCHF bearish momentum | 8th Nov 2021
Price broke past the ascending trendline support, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 23.6% Fibonacci retracement towards the take profit level in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection . Our bearish bias is further supported by...
FX Update: As we await USD status, JPY poking higher on plunging long yields.
The JPY is challenging speculative positioning and rallying as global long safe haven yields have dropped sharply, particularly in the US on Friday after a nominally strong October jobs report. Elsewhere, the USD status is in focus this week ahead of the unknown, but imminent timing of the Fed Chair...
COT: Energy and metals sold ahead of OPEC+ and FOMC meetings
The COT reports published weekly by the US CFTC highlight futures positions and changes made by hedge funds across commodities, forex and financials during the latest reporting week to last Tuesday, November 2. A week where major US stock benchmarks reached fresh all-time highs just a day before the FOMC...
What are US treasuries telling us?
The nominally strong US jobs report on Friday was unable to sustain the US dollar rally, but more curiously, saw long treasuries rallying sharply and driving yields at the long end of the US yield curve sharply lower - a development that demands the most attention this week for follow...
Market Quick Take – November 8, 2021
Global equity markets are off to a shaky start this week. In the US, the House passed the infrastructure spending bill already passed by the Senate, but it is of modest size measured in terms of new spending. Despite a strong US jobs report on Friday, the US dollar is...
The Only Exit Strategy Options Traders Need
In fact, it’s so difficult, many traders use rules of thumb.They may cut losses when a position falls 10%.
WCU: Commodities hold their breath on China growth concerns
The commodity sector continues to consolidate resulting in the Bloomberg Commodity Index trading lower for a third straight week. Investors have become more risk adverse given the amount of incoming data pointing to pausing growth expectations, most notably in China. Weakness was led by industrial metals and a crude oil...
NZDCHF potential for short reversal | 5th Nov
Price is trading in a descending trend line and is near the buy entry price of 0.64460 which is 78.6% Fibonacci projection and 78.6% Fibonacci retracement . Price potentially go the take profit level of 0.65392 which is also 50% Fibonacci retracement and 1.61.8% Fibonacci projection . Our bullish bias...
NZDCAD potential for bounce | 5th Nov
Price is near the buy entry price of 0.88032 which is also 39.2% Fibonacci retracement and 78.6% Fibonacci projection . Price can potentially bounce from that level to the taker profit level of 0.89044 which is also the graphical swing high resistance. Our bullish bias is supported by the stochastic...