AlgoVenture

AlgoVenture

WTI continued to rally very strongly and has finally fully recovered from a previous dip of over 20 dollars. There is no doubt in the demand of oil and prices are going to climb even higher going forward. The market is now trading at the upper side of a major rising channel has shown nothing but bulls. This week, we will patiently wait for another pullback and...

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Gold rebounded off well from a rising trendline, found resistance at 1829 but stayed closed to it. The fact that the market is constantly rejected at 1829 may cause a deeper pullback towards the downside before it garner stronger buyers. A minor rising trendline was also broken below after multiple rejection at the current high. This week, we will focus on...

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GBPUSD has remained bullish every week consistently for almost a month now and is showing no sign of stopping just yet. The price has now broken above the top of a 7-month falling channel and more bulls will be expected going forward. This week, we will continue to look for buying opportunities on every pullback with 1.3630 as the key demand level for an entry for now.

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EURUSD has broken above a 7-month falling trendline, opening the door for more buyers. However, the bigger picture shows a clear downtrend and the recent increase in the price could be just another major pullback. Resistance was also seen at the supply level of 1.1450, causing EURUSD to give up over 70 pips before the week ends. Nevertheless, a direction needs...

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WTI continued to rise sharply last week and is becomingly clear it has resumed a strong bullish trend. However, we will still continue to observe resistance at supply level 79.9 to 81.3 as it may still provide strong selling. This week, we will wait for a pullback towards 77.3 to look for a buying opportunity.

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Gold came down again after a month-long of upward consolidation but found support at demand level 1787. The trend is currently still ranging and the price is now trading right in the middle of the entire symmetrical triangle. This week, we will observe for further support at the demand level 1787 and look for buying opportunity if it holds. Otherwise, the price...

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GBPUSD gained further last week and will be retesting the 7-month falling trendline very soon. The price is already trading deep into the supply level at 1.3562, alongside with the golden ratio and thus a sudden reversal could take place anytime soon. This week, we will attempt to sell as the price continues to climb higher with 1.3600 as the key level.

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EURUSD dived over 100 pips on the first trading day, found support at 1.1286 throughout the week, and made a comeback on the last trading day. The price is still trading within a consolidation pattern and a retest of the supply level at 1.1383 is highly expected. This week, we will wait for the retest at 1.1383 and towards the 7-month falling trendline to look...

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WTI found resistance at 77 after another rally at the beginning of the week. While the oil prices have been on the rise through December, it is becomingly obvious that this is part of a pullback for the bearish trend that formed through November previously. The price has also came down on the last trading day which did cause some breakdown of its current bullish...

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Gold rose for the 3rd week since it took off from the demand level at 1768. As the price reaches a key resistance at 1829, little resistance is seen and thus could extend the rally going into the coming week. The gold is expected to continue rising through the vacuumed area from the current 1829 to the key supply level at 1850. This week, we will wait for a...

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GBPUSD stayed very bullish for the 2nd week since the BOE started raising rates. There's no doubt that the pound can continue to climb higher but will face strong resistance as it approaches a major supply level at 1.3560. The supply level also sits well at the top of a 6-month falling channel, together with the golden ratio. This week, we will wait for a...

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EURUSD has been squeezing out more bulls and managed to stand above an one and a half-month consolidation. While the overall trend is still clearly bearish, there's just about enough gap between the current price and the supply zone at 1.1440 for another couple of bullish run in the intraday. Therefore, we will wait for a pullback towards 1.1350 for an intraday...

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WTI turned bearish last week as it broke below the bottom of a range at 81. Although the break-below did not cause the drop to continue and the price has rebounded off strongly on last Friday, the structure of both lower highs and lows is still favouring a bearish market this week. The oil market could still be in a major correction and more downside can be seen...

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Despite the dollar has strengthened, the gold marked a strong weekly gain and breaks towards the upside. This could certainly help the gold to climb further but it will face strong resistance at the top of the symmetrical triangle and a strong supply level at 1828 which could provide a good short-term sell opportunity. After which, we will look for a buying...

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EURUSD was ranging and attempting a recovery but was dismissed by a strong NFP, causing the price to break towards the downside. However, the price was able to find support at a previous low at 1.1527 and may climb a little further before resuming falling. As the Fed has started tapering while the ECB is still holding to a low rate stance, following a strong NFP...

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EURUSD began climbing at the beginning of the week but lost the handle and fell through the ground. The price has clearly broken below the bottom of a bullish channel as well as the demand zone at 1.1610 area. We expect the price to drop further towards the demand level at 1.1570 and shall wait for further upside pullback towards 1.1620 -1.1630 to sell...

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Following a strong rebound from a 15-month low, EURUSD continued to climb last week and found constant support at 1.1620 before the market closes. Apart from the demand level, the price is also climbing within a rising channel and is moving towards the top of a falling wedge. As such, we expect EURUSD to continue its recovery this week and will be looking to buy...

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Gold was up over 22 USD but threw most away through the US session. We can see that the market structure is an upward ranging one thus any gains could easily lose momentum and return to the lower band of the range. Right now, the price seems to have found support at 1768, but there's still quite a bit downside to reach the range bottom at 1760. We will be...