EURCAD Timeframe: 1D Direction: Short Confluences for Trade: - Bearish candle formations - Price at 61.8% Fibo levels of previous High - Low - Stochastic Overbought momentum - Fundamentally, positivity is slowly returning to improve sentiment about global demand which is likely to spur oil prices and with OPEC looking to react to such low oil prices, CAD...
USDCAD Timeframe: 1D Direction: Short Confluences for Trade: - Price action at top of Resistance line of Parallel Channel - Widening of EMA - Stochastic Overbought momentum (W1, D1 & H4) - Fundamentally, market is starting to expect FED to be more dovish in their hiking path, and may steer USD weakness. Global demand is weaker which has affected oil prices...
USDSGD Timeframe: 1D Direction: Short Confluences for Trade: - Stochastic has yet to move into Oversold conditions - Breaking Support Trendline (since April 2018) - Fundamentally, with positivity the outcome from the temporary truce between Trump-Xi and a more dovish FED reduces the drag on global demand and is positive for the Asian region. The SGD is a...
Gold is stationary in Asia on Monday as the markets consolidate with a US holiday to get through before key events such as US CPI will hit the slate. Gold has been suffering on higher US rates and the recent Fed comments which have been supporting the upside bias in the dollar. If bears can stay below the 50-D SMA now at 1210, having broken the 38.2% target...
Italy has until Tuesday to submit a revised budget draft to the EU. Italy-German yield spread looks set to rise in the EUR-negative manner as Italy is unlikely to revise lower its expansive budget deficit target. The EUR/USD is trading near 1.1325 after taking an early-Monday plunge into near-term lows as the broader market opens the new trading week with...
The Canadian Dollar is having its best day since September 28 (when it became clear Canada would join the United States and Mexico in the USMCA) after the Bank of Canada not only raised rates by 25-bps – a move that was widely expected, with overnight index swaps pricing in a 92% chance ahead of the meeting today – but offered its clearest signal yet that it was...
CAD experiencing very little activity today as it is also a holiday in Canada leaves room for stronger currencies to gain some ground. AUD has had a lovely start to the week with a strong bullish push in the early hours of the day. If price breaks 0.91859 and closes above that zone it would be a great opportunity to enter the market to grab 30 pips at the Zone 2....
yes, I'm feeling pretty confident about this pair showing a well balanced pair and showing positive news about what the president doing meeting and having international presidents and political leaders from foreign countries indicating positive moves from this pair, taking notion of this pair... On long yes, neat risk enough for a sufficient TP..
It is no secret that Amazon has taken the world by storm in the past few years as its market cap nears the unbelievable 1 trillion mark. Amazon now provides a service for nearly every demand you can think of. Food, retail products, shipping, a place to sell your goods/services, cloud services, etc. In the next few years, Amazon will probably increase its user base...
Earlier this month, my friend Harrison Schwartz wrote an eye opening article exposing the disaster that is in store for Chinese Real Estate investors (seekingalpha.com). The article analyzes the unthinkable situation China is in, and what is most likely going to happen. After reading it, my first thought was how can I make money off of this inevitable crash? That...
There is a very bullish pattern on the chart: breaking from the descending wedge. Indicators SMA, EMA 10 and Stoch RSI confirm the probability of upward movement. In the short and middle term we expect growth up to Ichimoku lagging span line. Fundamentals are also great: the positive news background for this year should also push the market up.
USD/CHF has an immediate resistance at $0.9985 and a support at $0.9950. The violation of support level can lead the pair towards $0.9935. Now let's wait for the Bank of England to capture more fluctuations in the market. Good luck!
I'm speculating that the inventory draw by 2.1 million is already priced in. Therefore, the oil prices may drop on the release of EIA report. That being said, I will be looking to stay bullish above $65.02 to target $66 before the release of news today. All the best and stay tuned for updates. Keep following!
Today's forex trading signal is to stay bullish only above $66.45 to target $67 and $67.45. Whereas, selling is preferred only below $66.45. Good luck!
WAN is an excellent buy right now for both short and long term. Price is entering the demand zone and the last time that happened we bounced out very quickly. We are looking to make a HL double bottom pattern and then breakout of that downtrend line. I cannot see us going any lower than 5200 as many big players are bullish on WAN fundamentally and will buy up fast...
Finally BTC has managed to break the downtrend. On the picture you can see the triangle that was broken. I has opened long position from here for a couple of weeks and more. Moreover, fundamental characteristics of the coin are also growing: the number of transactions and amount USD sent are in bull trend like the price itself. I encourage you to check the...
The wedge seems like Bull's flag, however according to a deeper analysis it is 5 Elliott Impulse waves. MACD and HMA in a buy state, volume increasing. Moreover, fundamental analysis of this coin is also great: Abra has announced that it supports DASH now, NegocieCoins introduces Dash to Brazilian markets, Bitit offers many options for buying the crypto currency....