From the technical analysis perspective the price is currently trading around the $1.04800 price area above the 23.6% of the fibonacci retracement level. The US NFP release is expected to affect the fiber chart with the market expecting a decreased , yet positive, figure. This publication will most probably create volatility and might possibly give…
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On the technical analysis point of view the price is currently trading around the $1,740just above the 61.8% of the Fibonacci retracement level. With a bear flag formation forming in the last 4 days we might see some continuation to the downside with a very strong area of support around the $1,712 price area which…
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From the technical analysis perspective the price is currently trading around the 0.99900 price area just above the 61.8% of the fibonacci retracement level. The US inflation rate is expected to affect the fiber chart with the market expecting a decrease on the figure (8%). This publication will possibly create volatility and might give the…
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From the technical analysis perspective the price is currently trading around the 0.98 price area which is a very strong point of resistance since it consists of the 50% of the fibonacci retracement level, the daily trendline and the 50 day moving average. Given that the Stochastic indicator is also signaling an overbought level and…
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Key data this week Bold indicates the most important releases for this symbol. Wednesday 24 August 12:30 GMT: durable goods orders (July) - consensus 0.6%, previous 1.9% Thursday 25 August 6:00 GMT: German quarterly GDP growth (final, Q2) - consensus nil, previous 0.8% 6:00 GMT: German annual GDP growth (final, Q2) - consensus 1.4%, previous…
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Oil’s headwinds continue Brent Crude (symbol ‘UKOIL’) made losses in the first week of August, reaching around $95 and erasing all the gains after Russia’s latest invasion of Ukraine. The USA’s technical recession and signs of a general economic slowdown around the world have affected sentiment negatively, while there are some signs of increasing supply…
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On the chart, the picture is generally neutral aparts from moving averages. Volume is low so far this week and the slow stochastic is almost exactly neutral at just above 50. The 50 SMA is the main technical reference at the moment, with movement above there unlikely unless traders receive positive new information of some…
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With price now within the value area between the 100 and 200 SMAs and strongly oversold based on the slow stochastic, a pause seems likely in the runup to tomorrow’s meeting of the BoC. The target for sellers in the medium term seems to be last month’s lows around C$1.25, while to the upside the…
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The 261.8% Fibonacci extension around $129 remains in focus as the key resistance. A breakthrough above this remains highly unlikely unless there’s a significant change in fundamentals. $100 is the main psychological area below which might also drive a bounce if it were to be tested this week. With no signal of saturation and ATR…
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A return to strength looks unlikely as of now based on TA. Although yesterday’s test of the 23.6% weekly Fibonacci retracement area has been rejected for now, selling volume has been high since last week and the downward reaction on 9 March from the area of the all-time high has been very strong. With ATR…
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