News
USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI are nearing the resistance line. Currently, we should expect a test of 1/8 (0.9399), a breakaway of it, and falling to the support level of 0/8 (0.9277). The scenario can […]
• Platinum reversed from resistance level 1030.00 • Likely to fall to support level 960.00 Platinum recently reversed down from the key resistance level 1030.00 (previous multi-month high from June) intersecting with the upper daily Bollinger Band and the resistance trendline of the daily up channel from September. The downward reversal from the resistance level […]
• USDCHF reversed from support level 0.9400 • Likely to rise to resistance level 0.9600 USDCHF currency pair recently reversed up from the key support level 0.9400 (previous multi-month low from August, which stopped wave (A)) standing below the lower daily Bollinger Band. The upward reversal from the support level 0.9400 stopped the earlier medium-term […]
After shedding 4% last week, greenback was offered support near the 106 level on DXY in the first half of this week and eventually rallied on Thursday: The rally was likely driven by US October retail sales report. Headline reading beat estimates (+1.3% MoM), core sales also rose faster than expected (+0.9% MoM). The solid […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning data shows that oil traders increased their net long positions last week, taking the total upside position to 274k contracts from 254k contracts prior. With this increase, oil upside exposure is now at its highest level since the first week of July. Disappointingly for bulls, […]
The British pound against the US dollar is aiming up high. The current quote is 1.1910. Sky-rocketing of British inflation and verbal interventions of the Bank of England have given the pound a foothold for growth. No one knows whether for long or not, yet for now the GBP is growing. The British CPI in […]