look to short @ 1.3 region, the loonie has been on multi year lows due to weakening oil prices. This could be a start of tightening cycle in monetary policy with a hawkish tone by BOC. I reckon this pair to break below 1.25 and eventually test 1.20 in coming months.
Very good risk to reward trade, very manageable with a tight stop below the swing low. A clean break above 78 would signal a trend change in AUD, go long on pullbacks after breakout beyond 78.
You dont want to be long crude oil too soon, the worst has yet to come. The recent reduction in crude oil stockpiles is just a distraction that, non OPEC production is gaining market share and adding on to the oil glut. MORE DOWNSIDE FOR CRUDE!
GBPUSD has somewhat bottomed out, forming at base between 1.22 to 1.26 over the past weeks. The pair retested 1.26 after a clean breakout of the trading range, potentially huge upside here with minimal risk.
Critical support at 2.53 region, break below would see further down side for NG.
2 trading scenarios:
1) Anticipate a sell-off with a half sized short position now with stops at 3.5 and load the remaining half after the break below 2.53.
2) wait for clear confirmation to break below 2.53 and short on pull back.
After a strong rally in recent days over concerns on geo political tensions between US and North Korea, gold looks set to retrace as buying momentum dies off. Expect to see a short term pullback towards 1270 before a possible trend continuation.
WTI failed to break new highs despite efforts to cut output from the Saudis. Iran and Russia has yet to fully comply with output cuts meanwhile US oil production gradually increasing week on week on the back of reports suggesting that shale production cost are becoming cheaper.
US Dollar remain strong in an uptrend after breaking out from its trading range, this...
With crude inventories seemingly increasing week on week since the start of 2017, crude oil price has been trading in a range of $50-55 per barrel.
From a technical perspective, the market has rejected price levels from 53s to 55s on 8 different occasions. My view is to stay short on CL while resistance at 55 still holds, key support areas will be 50s to 51s....
Downtrend still persist as risk on sentiment continues following election of Trump as President. The 10 yr notes stalled at 125 resistance and has attempted on several occasions to break out but to no avail.
Market closed positive on friday on support at 124 after 2 consecutive days of selling momentum, I expect a short rally in the beginning of this week...
On thursday ECB president Mario Draghi maintains a dovish tone on rates, Bund reacted with an attempt to rally from lows of 162 and closed 162.36 that day. However that rally was short-lived as the US Dollar continued to strengthen ahead of Trump's inauguration while pushing global bond yields higher.
Bund closed on a critical support level of 162, which has...
