Day: April 13, 2023
Oil Traders Increase Longs Again The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions last week from 181k to 226k. This marks the second consecutive weekly increase in bullish crude bets which have now risen more than 50% off the March lows. The uptick in bullish positioning has […]
TitleETHUSD H4 | Running into resistance TypeBearish Reversal Preference:Price is approaching our pivot level of 1944.26 and potentially reverse from here, we could see momentum carry price down to its 1st support of 1848.75. Alternative scenario:If price breaks above the pivot level, it could hit the 1st resistance of 1990.63. To discuss this trading idea, […]
EURUSD, “Euro vs US Dollar” The currency pair broke a consolidation range upwards and completed a structure of growth to 1.1000. Today the market is forming an impulse of decline to 1.0980. After the price hits this level, a correction to 1.0992 could follow. Then a new wave of decline to 1.0960 could start. GBPUSD, […]
USDCHF, “US Dollar vs Swiss Franc” On H4, USDCHF quotes are in the oversold area. The RSI has broken the resistance line. A breakout of -1/8 (0.8972) and growth of the price to the resistance at 1/8 (0.9094) are to be expected. The scenario can be canceled by a downward breakout of the support at […]
TitleDE30 H4 | Bearish Divergence TypeBearish Reversal Preference:Price is approaching our pivot at 15766.97, which is a swing high resistance level. If there is a reversal from this level, the price could drop to our 1st support at 15536.3, which is a swing low support level. Alternative scenario:If the price were to break above a […]
Silver On the Move Silver prices are on the move again today following yesterday’s breakout. The metal has been a firm favourite over recent weeks, with silver futures now up around 28% from the YTD lows. The rally has seen price breaking out above the former YTD highs to print fresh highs on the year […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD is pushing off the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 0.6705 is expected, followed by falling to 0.6555. An additional signal confirming the decline will be […]
EURUSD, “Euro vs US Dollar” On H4 near the resistance, EURUSD has formed a Harami reversal pattern. The instrument may now go by the reversal signal in a descending wave. The target for the correction might be 1.0935. However, the pair may grow to 1.1040 and continue the uptrend without testing the support. USDJPY, “US […]
TitleUSDCAD H4 | Bullish momentum TypeBullish Breakout Preference:Price has stalled around the 61.8% Fibonacci retracement and is approaching our pivot level of 1.3462, we could see momentum carry price up to its 1st resistance of 1.3554. Alternative scenario:If price breaks below the pivot level, it could hit the 1st support of 1.34038. To discuss this […]
TitleUSDJPY H4 | Potential reversal from 50% Fibo TypeBearish Reversal Preference:Price has just reversed from our pivot pint at 133.819 which is an overlap resistance along with a 50% Fibonacci retracement. A reverse from here it could drop to 1st support at 132.046 which is a swing low support level Alternative scenario:However, if it breaks […]