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USDCAD, “US Dollar vs Canadian Dollar” On H4, USDCAD has formed an Engulfing reversal pattern. The instrument is currently going by the reversal signal in an ascending wave. The pullback target could be 1.3420. Next, the price might rebound from this level and continue the downtrend. However, the price might drop to 1.3290 before correcting […]

Oil Traders Cut Longs The latest CFTC COT institutional positioning report shows that oil traders cut their long positions for a second week running last week. Total upside exposure fell to 215k contracts from around 236k contracts previously. While crude prices had been falling sharply following the reversal from April highs, prices have rebounded over […]

PPI On Watch Following on from yesterday’s CPI reading, traders will today turn their focus to the latest US PPI reading. Rate hike expectations for June have fallen sharply on the back of yesterday’s softer-than-forecast US CPI data. Pricing for a further .25% hike now sits below 10%, down from around 20% ahead of the […]

The Australian dollar against the US dollar maintains a growth momentum. The current quote is 0.6766. The statistics from yesterday showed that retail sales in Australia increased by 0.4% m/m as expected. The business sentiment index in April rose slightly to 0 points from -1 point previously. Firstly, the AUD is finding a foothold in […]

The NFP report released on Friday has transformed the perception of a rate hike by the Federal Reserve in June from unrealistic to tangible possibility. Strong inflation risks emerged from the data, with the unemployment rate reaching a multi-year low of 3.4% and monthly wage growth heating up to 0.5%. With prior confidence in the […]

TitleBTCUSD H4 | Bullish reversal off overlap support TypeBullish Bounce Preference:Price is approaching the pivot point of 27153.13 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 28762.98. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 26495.34. To discuss this […]