Looking at the technical picture of EASYMARKETS:NZDJPY on our 4-hour chart, we can see that the pair is currently coiling up, as it sits between two trendlines, a short-term downside one, drawn from the high of 5th of July and an upside one taken from the low of 24th of March. For now, we take a neutral stance and wait for a breakout.
A break of the...
Looking at the technical picture of EASYMARKETS:EURUSD on our 4-hour chart, we can see that the pair made its way back to its short-term tentative downside resistance line drawn from the high of 18th of July. This happened after finding support near the 1.0765 territory.
Given that the downside line currently remains intact, according to the TA rules, we have...
After reversing higher in mid-July, DXY has almost been on a continuous run to the upside. That said, from the broader perspective, the index is still trading below a medium-term tentative downside resistance line drawn from the high of May 31st. The price is already approaching that line and the question is will it end up breaking that trendline?
If the bulls...
Silver recently rebounded from a key support zone, at 24.53, which marks the highest point of June. Although there are signs that another upmove could be possible, we would still prefer to wait for a pop above the current highest point of July first, which is at 25.27 level.
If the precious metal rises and eventually violates the 25.27 barrier, this will...
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...
