Crude Oil: Is It A Correction Or Trend Is Reversing?

October 08, 2018

 

An overview of daily technical chart shows that earlier crude was making successively higher highs and higher lows and was heading towards north side. The bullish momentum can be seen which can’t be ignored but bulls have been arrived at $75.50 level which is a strong supply zone as it has received supply from this level 2 times earlier also and once again it seems like history tends to repeat itself as we can see that crude oil started to receive supply pressure at this strong resistance level.

 

Well the current selloff can be a correction as it has bounced too much or it is an initial signal for trend reversal. Well time will give the answer but we would advise to our traders and investors that don’t go for short as long as $72.50 level remains intact and a valid breakout of this level will give us confirmation of bearish momentum and bears may approach the $70 and $68 levels in near term.

 

Well RSI , Stochastic indicators are in overbought territories which is providing us trend reversal signal at an initial stage. Presently the pair is trading and sustaining between the caged major and minor EMA lines which is generating neutral to bearish signal for the time being. An engulfing bearish candlestick followed by dark cloud candlestick is also confirming the bearish movement. Odds are in favor of bears and intraday bias remains bearish on the pair.

 

A bearish crossover on MACD indicator is about to occur on the daily chart however it has occurred on the hourly chart already. The. 75.50 level is immediate resistance level followed by 78.50 whereas 70.10 level is strong key support level followed by 68.20 level.

GBP/AUD: Bulls Are Dancing With Three White Soldier Pattern.

October 08, 2018

 

By looking at the daily chart we can see that pair is making suceessively higher highs and higher lows on day to day basis; even it is heading north side with aggresively , it seems like only bulls are leading and dominating the bears. Well in our previous report we have mentioned that bulls have arrived at key resistance level and a valid breakout on either side will give us new buy or sell signal and we have witnessed the same bulls have given us upside breakout and it seems like bulls are dancing with three white solider pattern has been formed.

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GBP/CHF: Pair Has Violated Downtrend Line With Rounding Bottom Pattern

October 05, 2018

 

By looking at the daily technial chart we can see that pair was trading in downtrend channel with full of bearish momentum and heading towards south side. From technical prospective bears have breached the key support level of 1.2871, which is the psychological level and marked a new low of 1.2450 level on the daily chart.

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AUD/JPY: Bears Are Controlling The Game & Heading Towards South

October 05, 2018

 

The Australian Dollar (AUD) against the Japanese Yen (JPY) is an exciting pair for its relation to risk. The pair is frequently among one of the most highly correlated pairs to price action in US equities on a short to medium term basis. The pair has a propensity to rise in a low risk environment on carry flows while the opposite is true when we see a ‘risk-off’ approach in the markets.

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USD/CAD: Pair is moving in downtrend channel showing weakness.

Oct 3, 2018

 

By observing the daily technical chart we can see that pair is making successively lower lows and lower highs by taking the balanced demand and supply from the downtrend channel.The bearish engulfing candlestick surviving below the previous swing’s low is  generating bearish signal and it’s just  a starting the further bearish storm is still expected.

Continue reading “USD/CAD: Pair is moving in downtrend channel showing weakness.”