Day: November 15, 2022

Nov 15
Market Spotlight: Copper Breaks Out

Copper Climbs Above Bear Channel  The sharp drop in USD last week has fuelled noteworthy moves across markets. Commodities markets have benefitted strongly from a weakness in USD, as evidenced by the rally we’ve seen in copper. Following heavy sideways action since early July, copper futures broke out to their highest level since June last […]

Nov 15
USDCAD 1.3330 Target Achieved, New Pattern Emerging

Technical & Trade View USDCAD 1.3330 Target Achieved, New Pattern Emerging Bias: Bullish Above Bearish below 1.3410 1.3330 Target Achieved, New Pattern Emerging Technicals Primary resistance is at 1.3410 Primary pattern objective is 1.3165 Acceptance below 1.3230 next pattern confirmation Acceptance above 1.3430 opens a test of 1.35 20 Day VWAP bearish , 5 Day […]

Nov 15
Market Spotlight: Is The Tide Turning in FX?

FX Reversals Underway Last week’s sudden drop in the Dollar has proved highly fertile for reversal traders in FX. Across the board we’ve seen USD-counterparts rallying firmly. For technical traders, these moves looked well signalled given the basing action and momentum divergence we’ve seen in pairs such as EURUSD, GBPUSD, AUDUSD and (on the other […]