USD/JPY-Pair Is Floating Between The Ascending Triangle

November 28, 2018

 

By analyzing the daily technical chart we can see that pair is bouncing from the short term uptrend line and recently it received bounce from the 112.30 level and heading towards north side. Well the pair is floating between ascending triangle which is generating bullish signal for the time being, however we will receive further strong signal above 114.50 level in the short term.A valid breakout above 114.50 level will open the way towards the 116 level.

 

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EUR/USD: Bulls Are Trying Their Best To Reach North Side

November 28, 2018

 

The EUR/USD pair, which spent the majority of the day fluctuating above the 1.13 handle, came under pressure in the evening session and fell to its lowest level since November 15 at 1.1278 before going into a consolidation phase. As of writing, the pair was down 0.35% on the day at 1.1290. The pair remains under pressure so far this week, briefly dropping to fresh multi-day lows in the 1.1290 region.

 

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Crude Oil: Black Gold Marked A New Low On Black Friday

November 26, 2018

 

Last week we have witnessed a clear sell off in the crude oil, as we can see that it marked a low of $50 level which was the fresh 2018’s year low on the daily chart. Black gold reversed all the yearly gains and it lost almost 10% in the last week. From the fundamental prospective China’s gasoline exports fall to its lowest level in more than a year. OPEC is reportedly looking to pull back production to 2016 levels. However, the Wall Street Journal recently reported that Saudi Arabia and OPEC was looking to cut the current production by around 1 million barrels per day to 2016 levels and helped the WTI recover a small portion of its daily losses.

 

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Gold: Bulls & Bears Are Fighting In The Consolidation Phase

November 23, 2018

 

By observing the daily technical chart we can see that yellow metal is unable to move on either side as we can see that both bulls and bears are fighting with each other as we can see a small consolidation phase is going on. The current candles are unable to provide any signal for the time being but we can say the that the breakout of rangebound territory i.e. 1240 to 1190 level will give us new buy or sell signal.

 

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CHF/JPY: Risky Traders May Initiate Their Long Position

November 23, 2018

 

By looking at the daily chart we can see that earlier the balanced demand and supply was going on in the pair and pair was trading in purely uptrend channel followed by an aggressive uptrend channel and it was making higher highs and higher lows on daily basis. From intermediate point of view we can see that the pair has retraced almost 61.8% level and from here we are expecting a bounce towards north side. Well first it needs to clear the 114 level then only we may expect further bounce towards the 117 level.

 

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