Category: Analysis

The news of fresh deals is coming in from the Middle East as Donald Trump seems very successful in getting the oil- and gas-rich countries to buy stuff from the US – including chips and planes – but appetite for trade optimism is starting to show signs of exhaustion. Despite the announcement of a $243bn…

Key Highlights WTI Crude Oil prices started a recovery wave above the $60.00 level. A connecting bullish trend line is forming with support at $61.90 on the 4-hour chart. Gold prices dipped below the $3,300 and $3,280 levels. EUR/USD is now trading below the 1.1320 resistance zone. WTI Crude Oil Price Technical Analysis WTI Crude…

USD/CAD has been on a grind higher since May 6 and has now returned to the key psychological level 1.4000 level. Volatility has subsided somewhat of late as trade deals and a rebound in overall market sentiment has led to calmer markets as a whole. May has been a rough month thus far for the…

CHFJPY: ⬇️ Sell CHFJPY reversed from the resistance level 176.00  Likely to fall to support level 173.00 CHFJPY currency pair recently reversed from the pivotal resistance level 176.00, which has been repeatedly reversing the price since November. The resistance level 176.00 was strengthened by the upper daily Bollinger Band. Given the strength of the resistance…

AUDJPY: ⬇️ Sell  AUDJPY reversed from resistance area Likely to fall to support level 93.20 AUDJPY currency pair recently reversed from the resistance area between the key resistance level 95.30 (former monthly high from March), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse wave (C) from November. The downward reversal…

The Japanese yen has posted strong gains for a second straight day. In the North American session, USD/JPY is trading at 146.32, down 0.79% on the day. The yen plunged 2.1% on Monday but has now recovered those losses. Japan’s PPI eases slightly to 4% Wholesale inflation in Japan remained high, rising 4% y/y in…

Gold price fell through key supports on Wednesday, deflated by growing optimism on US-China trade deal that cooled fears about deeper economic crisis and offset other factors that boost safe haven demand. Fresh wave of risk appetite pushed gold through pivots at $3228 (50% retracement of $2956/$3500 upleg) which recently contained several attacks and $3200…

Markets There were hardly any data with market moving potential and for now no trade-related headlines from US president Trump to guide trading today. European equities are taking a breather after the recent rebound (EuroStoxx 50 -0.1%). US indices open marginally higher after yesterday’s (tech) rebound on president Trump’s announcement of several eye-catching contracts in…

Cable keeps firm near term tone and extends recovery after Tuesday’s 1% rally generated positive signal on over 50% retracement of 1.3444/1.3139 pullback and completion of bullish engulfing pattern on daily chart. Fresh extension higher on Wednesday rose above Fibo 61.8% retracement that adds to development of reversal signal, after strong bounce on Tuesday signaled…

Market Picture Market capitalisation rose 2.7% in the last 24 hours to $3.38 trillion, with the market reaching $3.40 trillion the previous evening. These are the highest values since early February, driven by increased altcoin buying. The sentiment index reached 73, indicating that it is approaching extreme greed territory, but remains far from the overbought…