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Chart of the Day -EURUSD- (March 7th 2019)
The EURUSD has finally cracked the multi month range lows and seems to be breaking lower (finally!) to test the 127% extension of the last rally.
Chart of the Day -USDCAD- (March 6th 2019)
The USDCAD has a longer term inverted head and shoulder’s pattern in play.
Chart of the Day -EURMXN- (Feb 28th 2019)
The EURMXN is breaking out of a long term consolidation inside a triangle that has formed all of 2019. This is a significant development for a couple reasons.
Crude Oil: Bullish Now Or Reversal Coming?
Macro Perspective:
Oil went into free fall in mid-2014, experiencing a relentless bear move which saw oil price drop by over 70%. US shale producers turned out to be the tipping point in terms of the global supply glut. This, combined with a decrease in global demand, proved to be an unstoppable force that lasted for over a year.