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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.
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.
Chart of the Day -USDNOK- (Jan. 29th 2019)
Back on January 3rd, we blogged about a smaller time frame USDNOK head and shoulder pattern developing, and now a longer term one is taking shape.
The USD showed the potential to breakdown against many majors
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
Chart of the Day -WTI- (Jan. 2nd 2019)
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.
Chart of the Day -Precious Metals- (Dec. 19th 2018)
Both popular precious metals (gold and silver) posted key reversal days today.
Chart of the Day -USDCAD- (Dec. 18th 2018)
The USDCAD rallied to new highs for 2018 as crude oil pushed below the $47 level today.