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Chart of the Day – EURUSD – (November 5th 2019)
Following a strong move higher that breached through several areas of resistance, the EURUSD is in danger of posting a double top if it fails from current support level.
Chart of the Day – NZDUSD – (November 4th 2019)
Kiwi has developed an inverted H&S formation where the head is a prior H&S formation indicated previously in our analysis.
Chart of the Day -Crude Oil- (May 2nd 2019)
Following up on Sunday’s blog post (read it HERE), crude has now broken below the horizontal support area and the ascending channel’s support (both confluenced at $63.75).
Crude Oil reversed lower from key level. What should we expect going forward?
Crude Oil is quite a peculiar instrument to trade, given that its supply side has been managed for decades. If we look at a multi-year chart, there was a very evident move which happened in 2014. The drop from over $100 to $40 was very sharp and relentless, and it was driven mostly by the […]
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.