From around the beginning of November 2022, Cotton futures have been trading in a range, roughly between the 75- and 89-dollar marks. As long as the price remains in that range, we will stay neutral. Only if we see the commodity breaking through one of the sides of that range, only then we will consider the next short-term directional move.
A break through the...
After rebounding from the 200-day EMA in mid-June and moving strongly higher, EURAUD is now trading above a short-term tentative upside support line drawn from the low of June 15th. At the same time, the rate is stuck in short-term range, roughly between the 1.6258 and 1.6555 territories. In order to examine the next short-term directional move, a break through...
From around mid-June, DJIA futures have been moving sideways, trading roughly between the 33859 and 34889 levels. Overall, the index remains on an uptrend, while trading above a medium-term tentative upside support line drawn from the low of March 15th. Although there are signs pointing towards further upside, a break of the upper side of the aforementioned range...
From around the beginning of March 2021 NZDCHF continues to drift lower. From around the beginning of May 2023 the pair is forming a descending triangle pattern, which according to the TA rules, tends to be a bearish indication. However, in order to consider the next short-term directional move, a break through one of the sides of that triangle is needed.
A drop...
After a recent upmove, WTI oil had stalled and is now moving sideways. The commodity continues to trade above a short-term tentative upside support line drawn from the low of June 28th. Although there are signs that a further move higher is possible, we would prefer to wait for a violation of the 74.00 territory first.
If that happens, and WTI breaks above the...
Looking at our daily chart of LTCUSD, we can see that from the beginning of July, the crypto continues to correct lower. The rate is now near the crossroads of two short-term trendlines, a downside one taken from the high of April 18th and an upside one drawn from the low of June 14th. If LTCUSD remains above both of those trendlines, there is a good chance the...
AUDNZD continues to slide, while trading below a short-term downside resistance line, drawn from the high of June 19th. Given that the trendline remains intact, we will continue aiming lower.
A drop below the current lowest point of June, at 1.0729, would confirm a forthcoming lower low. The may clear the way towards the 1.0697 obstacle, or even to the 1.0674...
After yesterday’s strong fall, we can see that our DAX Futures have found support near the lower side of a possible rising wedge pattern, which can be drawn from around the end of December 2022. Although the pattern is considered to be bearish, a strong violation of the lower side of it would be needed, before getting comfortable with lower areas. In the meantime,...
Although USDCHF is seen trading below a short-term downside resistance line drawn from the high of March 8th, from around mid-June the rate has been moving sideways within a range. That range is roughly between the 0.8907 and 0.9000 levels. The overall trend is still to the downside, however, in order to consider the next short-term directional move, we would...
A QUICK TECHNICAL OVERVIEW
The technical picture of EURJPY on our 4-hour chart shows that after a strong run to the upside that the pair experienced through the month of June, now it is starting to show signs of weakness, after finding resistance near the 158.00 territory. The rate recently fell below a short-term upside support line drawn from the low of June...
A QUICK TECHNICAL OVERVIEW
After recently breaking above a key short-term resistance line drawn from the high of April 14th, BTCUSD is currently testing a key resistance area, roughly between the 31000 and 31500 levels. The rate is stuck near the highest point of April. Although the short-term picture shows a possibility of a bullish flag formation, we would...
A QUICK TECHNICAL OVERVIEW
Looking at the technical picture of XAUUSD on our 4-hour chart, we can see that the commodity is still trading below a short-term downside trendline drawn from the high of May 4th. However, given the proximity of the current price to that trendline, there is a possibility that we may see a violation of it, as the precious metal has...
C3.ai Quick Overview
The stock of the C3.ai Inc (NYSE: AI) company has been hitting the wires lately. It is a U.S. artificial intelligence enterprise, providing software-as-a-service application that enables deployment of enterprise-scale AI applications. Because of the recent increased popularity of Chat GPT, artificial intelligence became the hot topic among...
After a sharp decline on Tuesday, Gold is now balancing slightly above our 38,2% retracement on the Fibonacci. Given that we have the Fed rate announcement on Wednesday evening, we will take a cautious approach and wait for the decision first, before getting comfortable with either of the short-term directional moves.
From the technical perspective, a break below...
Looking at the recent technical picture of the US Dollar index, we can see that from around the beginning of March, the index is trading within a falling wedge pattern. According to the Technical Analysis (TA) rules, such patterns tend to be bullish indications. However, in order to get comfortable with that idea, a break of the upper side of that formation would...
The technical picture of USDCAD on our 4-hour chart shows that the pair is currently trading inside a descending triangle pattern. According to Technical Analysis rules, such patterns tend to break to the downside. For that, a confirmation break roughly below the 1.3650 zone would be needed. This way, a forthcoming lower low would be confirmed and more sellers may...
