Tag: trading

Daily Market Commentary
December 08, 2021 BY Steffy Bogdanova

Weekly data: Cautious optimism on Brent holds

‘The likely scenario as of now seems to be a sideways trend over the next few weeks,’ said Michael Stark, an analyst at Exness: ‘There’s obviously very strong buying demand in the area around $65, while there’s no clear fundamental driver for the price to retest recent highs. Traders are now looking for significant confirmed…

Read more
December 01, 2021 BY Steffy Bogdanova

Weekly data: ‘buying the dip’ ahead of the NFP

Even before large losses at the end of last week, it already seemed fairly unlikely that the cartel would significantly boost production. With most members seemingly content with prices of Brent around $75-85 and various countries including Japan having released their strategic reserves of crude, there had been no clear calls among OPEC for increasing…

Read more
November 15, 2021 BY Steffy Bogdanova

Weekly data: focus on inflation continues

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
November 10, 2021 BY Steffy Bogdanova

Midweek data: focus on American inflation

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
October 25, 2021 BY Steffy Bogdanova

Weekly data: ECB’s meeting and inflation ahead

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
August 17, 2021 BY Steffy Bogdanova

Weekly data: FOMC’s minutes and RBNZ’s statement ahead

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
August 10, 2021 BY Steffy Bogdanova

Weekly data: commodities down as Delta caution increases

The pound seems to be standing at a crossroads with key technical references above and below, the 161.8% weekly Fibonacci retracement area and the 200 SMA respectively. Based on TA alone, consolidation and sideways movement would usually be favourable in this situation. However, the important economic releases from the USA and the UK on Wednesday…

Read more
July 26, 2021 BY Steffy Bogdanova

Weekly forex data: caution ahead of the Fed

The 61.8% area of the weekly Fibonacci fan seems to be quite a strong dynamic support from which a bounce might be expected, but the bunching of the 50, 100 and 200 SMAs might make significant movement upward from here a challenge. 15 July’s high around $1,834 seems to be the main static resistance in…

Read more
July 20, 2021 BY Steffy Bogdanova

Weekly forex data: looking ahead to the ECB

Sentiment on the euro though is weak: strong data around the end of 2020 and beginning of 2021 have generally been replaced by more lacklustre figures from major economies, and the Delta variant is likely to dent many countries’ plans to ease remaining anti-covid measures. Tuesday’s close at R17.33 was a two-month high for EURZAR,…

Read more