After a huge move that pushed it from as high as $77 to almost 42 within a 3 month period, crude found a low 1 day before the Christmas break.
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About Steve Voulgaridis
Steve’s academic studies include a bachelor degree in Business Administration and one in Finance. Steve has been actively engaged with the world of Finance and the financial markets since 2005. He started his career as an individual trader managing personal and family funds and within a few years progressed to become a consultant and trader for a private fund.
Due to his educational background, Steve uses Macroeconomic theory and the study of fundamentals, to build a top – down, long term view of the markets. Additionally, the tools of trade he uses to analyze their daily movements are comprised of Classical Chart Patterns, Candlestick Patterns, Fibonacci and Elliot Wave Theory.
Steve is an avid lover of sciences (with economics being the prominent one in his heart) and has always dedicated part of his free time studying them. He likes to spend the rest of his free time doing sports (tennis, basketball, football, sailing), socializing with friends and travelling.
Steve is happily married since 2014 with 1 baby boy and 2 feline companions (cats) completing his household family.
Entries by Steve Voulgaridis
USDJPY is rebounding higher after finding support at the confluence of the 88.6% Fib of the August low to the October high and the 141.4% extension of the October low to the November high.
Copper has broken below a triangle and after a 3 day attempt to rebound we only managed to pullback enough to re-test the broken T/L support before getting rejected on Friday.
The DXY stalled today at the 96.20 support area as it remains trapped between it and the 97.65 resistance.
Both popular precious metals (gold and silver) posted key reversal days today.
The USDCAD rallied to new highs for 2018 as crude oil pushed below the $47 level today.
The USDNOK pullback from the ascending wedge was limited to the 38% Fibonacci retracement which has allowed for a turn to new trend highs.
Sometimes the best trade is “no trade” and that is probably the case with the USDJPY currently.
Two days ahead of the ECB meeting and the EURUSD is probing a triangle consolidation support.
The EURGBP has been held hostage by the resistance at the 61.8% retracement at .8930 which broke today.