Day: December 9, 2022
BRENT On H4, the quotes of Brent oil are below the 200-day Moving Average, which indicates the prevalence of a downtrend. However, the RSI is already in the oversold area. A test of 0/8 (75.00) should be expected, followed by a bounce off it and growth to the resistance level of 2/8 (81.25). The scenario […]
USDCAD, “US Dollar vs Canadian Dollar” On H4, at the support level, the currency pair has formed an Inverted Hammer reversal pattern. The pair may now go by the pattern in an ascending wave. The goal of the growth will be 1.3700; later the price may break through it and extend the uptrend. However, a […]
Oil Slumps As something of a topsy-turvy week comes to a close in financial markets, traders are of course looking ahead to next week. The December FOMC meeting is drawing evermore attention and with the BOE and ECB also on deck, it promises to be a big week for markets. Ahead of those events, however, […]
Risk assets rallied after US jobless claims data pointed to decreasing strength of the US labor market. Labor market imbalances are now the key driver of inflation (through the impact of wages on consumer demand), which implies higher-than-usual sensitivity of investors to the data releases like Unemployment Claims, NFP and JOLTS reports. Continuing jobless claims […]
EURUSD, “Euro vs US Dollar” The currency pair got support at 1.0490 and performed a wave of growth to 1.0555. Today the market is forming a consolidation range around this level. With an escape upwards, a pathway to 1.0615 will open. With an escape downwards, a link of correction to 1.0490 is not excluded, followed […]
EURUSD, “Euro vs US Dollar” The pair is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0485 is expected, followed by growth to 1.0805. An additional signal confirming the growth will be a bounce off the lower […]
What is Liquidity and Volatility? To new traders terms like these, can be confusing and you need to fully understand forex terms, in order to apply them to your strategies. Both liquidity and volatility are quite different, but they can affect each other. What Is Liquidity? Volatility in simple terms, is how quickly an asset […]
BOC Hikes and Keeps Options Open The Bank of Canada meeting yesterday was a more neutral affair than most were anticipating. The BOC hiked rates by a further .5%. in line with expectations. However, the accompanying language and outlook was not convincingly geared towards a pause. Interestingly, the market reaction to the meeting has seen […]
USD Under Pressure USDCNH has seen a sharp sell-off over the last week or so. Part of this can be attributed to the softening we’ve seen in USD while the other driver is clearly the developments we’ve seen in China. On the USD front, the greenback has been well sold recently though the perspectives behind […]
Type: Bullish Continuation Key Levels:Resistance:1.06680Pivot:1.05085Support:1.03315 Preferred Case:The current bias for 6E1! on the H4 chart is bullish . To add to this bias, the price is currently above the Ichimoku cloud , indicating a bullish market. If the bullish momentum continues, expect price to possibly break the pivot at 1.05085, where the previous high is […]
