Once the consolidation is over, we will see if the precious metal has the steam to take a shot at $1375 or dwindle back down below $1300.
AUDUSD bulls have lost momentum and bad Aussie housing data has not helped their cause. Bears will take over full control once 0.7980 is breached.
Weekly uptrend has been broken and upper resistance has been established and tested. Weekly 9 MAV is about to cross below the 18 MAV and perform the perfect bearish cross. I'm all out short on this pair for a while. There not many guarantees in the FX world but this is one of them.
Weekly uptrend has been broken and upper resistance has been established and tested. Weekly 9 MAV is about to cross below the 18 MAV and perform the perfect bearish cross. I'm all out short on this pair for a while. There not many guarantees in the FX world but this is one of them.
Gold has clearly formed a Head and Shoulders pattern on the hourly chart. Once the temporary support is broken, the price will fall.
As stated above, USDJPY is primed to short. Dollar is weak and the Yen has been sold off for far too long. USA political uncertainty and tax reform debacle will cause the already wobbling dollar to stumble further.
USDTRY is prime to short now. The dollar is wobbling and will continue to weaken in the coming days and weeks.
Bulls are exhausted. Clearly overbought. Just waiting to get sold off. Don't get stuck holding longs.
I believe WTI has entered the consolidation zone and is now looking for the correct direction. Experts state that OPEC will continue with production cuts and look to extend them to November but U.S. shale producers and OPEC members not involved in production cuts (Libya, Nigeria, Iran, and Iran due to failing economies) continue to ramp up production. Unless OPEC...
A lot of consolidation going on for the past couple of weeks. It is looking for the proper direction. If it breaks upwards, it will go to 2.0+ but my bias is a downward move. AUD has been sold off aggressively across the board and Sterling will be tested with the General Election coming up. The conservative party is losing some steam. This is not the most liquid...
USDRUB is in a consolidation pattern looking to break out. The consolidation is getting tighter and tighter. Look to go LONG or SHORT once a direction is found. If it breaks below, I will go short and hold for a long time because there is very little support beneath 48. (My bias remains on the downside but only time will tell.)