WTI oil futures (February delivery) have been stuck in a downtrend since June but managed to bounce at the one-year low of 70.30 and recoup some losses. However, this recovery proved to be short-lived after the 50-day Read more…
Three weeks ago, we talked about the GBPUSD pair, according to which a global corrective trend is forming – a triple zigzag w-x-y-x-z, as part of which the market builds the final actionary wave z Read more…
The WTI oil remains at the back foot for the third consecutive day and extends weakness in early European trading on Thursday. The latest reports showed fresh surge in Covid cases in China, just days Read more…
WTI crude steadies as Russia bans countries that abide by the Western price cap. On the daily chart, the commodity would remain in a downtrend unless it manages to break free of 82.00. A bearish Read more…
Bullion remains sideways as the US dollar attempts to claw back losses near year’s end. On the daily chart, the price has been inching up along the 20-day moving average. A rising trend line from Read more…
The pound struggles as market sentiment remains cautious with thin liquidity. The pair is still looking to hold onto its gains after clearing last August’s high of 1.2280. Even though short-term buyers have bailed out, Read more…
The good news with China’s reopening is that it should boost global growth. The bad news with China’s reopening is that it will not only boost global growth, but also energy and commodity prices – Read more…
Daily Pivots: (S1) 1.0588; (P) 1.0632; (R1) 1.0656; More… No change in EUR/USD’s outlook as consolidation is extending. Further rally is expected as long as 1.0481 resistance turned support holds. Firm break of 61.8% projection Read more…
Daily Pivots: (S1) 1.1973; (P) 1.2049; (R1) 1.2096; More… Intraday bias in GBP/USD stays neutral at this point. On the downside, break of 1.1991 will resume the fall from 1.2445 to 55 day EMA (now Read more…
Daily Pivots: (S1) 0.9254; (P) 0.9281; (R1) 0.9315; More… Intraday bias in USD/CHF remains neutral as range trading is still in progress. Further decline is in favor with 0.9378 resistance intact. On the downside, break Read more…