Month: December 2022

Daily Pivots: (S1) 1.3524; (P) 1.3568; (R1) 1.3650; More…. USD/CAD recovered quickly after dipping to 1.3483 and intraday bias is turned neutral first. On the upside, break of 1.3704 will resume the rebound form 1.3224 Read more…

USD/JPY: Looking at the H4 chart, my overall bias for USDJPY is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to Read more…

Daily Pivots: (S1) 0.6706; (P) 0.6753; (R1) 0.6788; More… AUD/USD is staying in range of 0.6628/6892 and intraday bias remains neutral first. On the downside, sustained break of 38.2% retracement of 0.6169 to 0.6892 at Read more…

The financial markets are trading more on the risk-on side as the year-end is approaching. But reactions in the forex markets are relatively mild. Yen continues to be the worst performer for the week but Read more…

NASDAQ closed at new 2022 low at 10213.28 overnight as investor sentiment turned sour in thin holiday trading. Technically, it’s still staying above intraday low at 10088.82, but a break of that level should be Read more…

Short term, Elliott wave view in DAX suggests cycle from 9.28.2022 low has ended with wave (1) at 14677.69 as an impulse. The Index is currently correcting cycle from 9.28.2022 low within wave (2). Internal Read more…

Oil prices closed lower overnight as the near term rebound appeared to be fading. The optimism over a surge in demand in China was replaced by concerns over infections in the country, as well as Read more…

Key Highlights Crude oil price started a fresh decline from the $81 resistance. It broke a key bullish trend line with support near $79.70 on the 4-hours chart. Gold price is still struggling to clear Read more…

At the start of last week, forex traders were expecting to ease into the holidays with relatively low volatility trade until BOJ Governor Kuroda fired off a “bazooka” of a monetary policy decision, tweaking the Read more…