Crude continues its descend last week halting at $75.00 per barrel, where it has currently rebounded to the upside due to positive signs on momentum indicators appearing clearly through the four hour chart.
The U.S. dollar corrected looses against most of the major currencies during last week’s session, as data showed that global recovery might take longer than expected. This decreased risk-appetite in the market, and turned investors to look...
USDCAD had formed a cycle bottom at 1.0107 level on daily chart. Further rally is expected in next several days and next target would be at 1.0600-1.0700 area. Support is at 1.0350 followed by 1.0280, as long...
USDCHF is forming a cycle bottom at 1.0331 level on daily chart. Range trading between 1.0331 and 1.0675 is expected in a couple of weeks. Key resistance is at 1.0675, above this level could indicate that the...
After touching 84.82 (2009 low) support, USDJPY rebounded from 84.72, suggesting that a cycle bottom is being formed on daily chart. Further rally would more likely be seen in next several days and target would be at...
AUDUSD has formed a cycle top at 0.9221 level on daily chart. Further decline is expected in next several days, and target would be at 0.8700 area. However, the fall from 0.9221 is treated as correction of...
GBPUSD stays above a rising trend line on daily chart and remains in uptrend from 1.4230, and the fall from 1.5997 is treated as consolidator of uptrend. Range trading between 1.5400 and 1.5997 would more likely be...
EURUSD dropped sharply from 1.3333 and the fall extended to as low as 1.2749, suggesting that a cycle top had been formed on daily chart, and the rise from 1.1876 had completed at 1.3333 already.
The metal departed the short term descending channel after breaching its resistance yesterday at 468.00; as well it managed to breach the 20 MA to start an upside correction seen on the daily chart below.
Crude succeeded in achieving yesterday’s suggested bearish direction flawlessly, touching the awaited targets between 75.80 – 75.65 as it’s currently starts a bullish correction due to the clear oversold signs appearing through momentum indicators.
