September and October’s large upward movement seemed to be somewhat excessive, with the consolidation ongoing, but more gains are likely based on TA. ¥90 is an important psychological area that might trigger a bounce, and the 50 SMA slightly above this could also function as a support. The 100 SMA seems to be about to…
Read more
Looking at the chart, a breakout in either direction still doesn’t seem especially likely. The double top around Mex$20.85 last month and earlier this month would usually be seen as a sell signal, but the main support around Mex$19.70 is also strong given that it has remained unbroken since February 2020 despite repeated testing since…
Read more
AUDUSD’s uptrend seems to be resuming at the time of writing on the daily chart considering highs on 3 September and 20 and 28 October. The 50 SMA from Bands is about to complete a golden cross above the 100 SMA, but the 200 SMA is still an important resistance which the price is currently…
Read more
The clear target for old buyers is the 161.8% weekly Fibonacci extension just below $90. Finding an entry as a new buyer is likely to be difficult here, but a bounce seems possible from the 38.2% zone of the weekly Fibo fan and definitely from the psychological area around $80. Brent has been strongly overbought…
Read more
LR: The last two years were turbulent, to say the least. What trends have you noticed in the retail forex industry? What changes in the industry do you think we can expect in the near future? Tom: One of the biggest trends has been the consolidation of brokers into several more significant players. We’ve also…
Read more
The obvious near-term resistance here is the value area between the 100 and 200 SMAs. Whether this might be tested on Wednesday morning is likely to depend on how markets perceive the accompanying commentary from Dr Orr and other senior members of the RBNZ, not just whether the cash rate is hiked as expected. Lower…
Read more
EUROPEAN SHARES European shares are extending yesterday’s gains amid a rising appetite for riskier assets ahead of the weekend. Even though the Delta variant keeps weighing on market sentiment in many regions like Asia, investors are optimistic about countries with more aggressive vaccination programs in place, such as Europe and the US. Apart from Madrid,…
Read more
OIL WTI stabilized during early Thursday trading, following the gains of the previous two sessions. The situation in Asia, where demand for fuel is likely to be impacted by new restrictions on movement put in place in China, alongside yesterday’s request from US President Joe Biden calling on OPEC+ to increase output in order not…
Read more
OIL WTI shed some of the previous session’s gains during early Wednesday trading, following the imposition of further restrictions to mobility in China in an attempt to halt the spreading of the Delta variant of the coronavirus. The situation in China and other Asian countries continues to worry oil traders, who now anticipate a drop…
Read more
OIL WTI is up by more than 1% during early Tuesday trading, recovering some of the losses of the previous session. Oil prices are likely to remain volatile as the outlook for the economic recovery becomes increasingly uncertain, with a rise in cases of the Delta variant in Asia continuing to be a reason for…
Read more