May 31, 2018
By looking at the daily technical chart we can see many wipsaws, well no doubt crude oil is driven by geopolitical factors but one question should be in the mind of traders that which side we should sit i.e. Buy or Sell. Well OPEC (Organization of the Petroleum Exporting Countries) says that the output agreement is set to continue until the end of 2018.
Continue reading “Crude Oil:-Has it topped out or just a correction?”
May 31, 2018
The daily chart shows an uptrend line breakout occurred on 10th May and bearish momentum finally returned. Yesterday also we have seen full on bearish sentiments in the trading session and bearish marabuzo candlestick has been posted on the daily technical chart. The way bulls are reacting it seems like they are approaching the 1.7100 level in short term.
Well the odds are in favor of bears and our bias remains bearish on the pair as long as pair is trading and sustaining below the 1.8000 level which is a immediate key resistance level for the time being. By looking at the daily chart we can see that pair is heading towards south side and making successively lower lows and lower highs. Presently pair is trading below all the major and minor EMA lines which are generating bearish sentiments.
Continue reading “GBP/AUD in under pressure and marking 4 month’s fresh low”
May 30, 2018
By looking at the daily chart we can see that pair is heading towards north side and making successively higher highs and higher lows. Presently pair is trading above all the major and minor EMA lines which are generating bullish sentiments and odds are in favor of bulls. Presently pair is trading at 1.3020 level and next hurdle is 1.3120 which is high of previous swing on the daily chart. Well the way bulls are reacting and dominating the bears it seems like they will give valid breakout of mentioned level. The news on Friday that Russia and Saudi Arabia would ease cuts and increase production sent the USD/CAD to highs just under 1.30000.
Continue reading “USD/CAD: Will bulls break the previous swing high?”
May 30, 2018
From past couple of days we can see the tug of war is going on between bulls and bears and and both are trying to show their strength. Well the past 8-10 trading days are completely choppy session which is not indicating any signal. The short term moving averages are overlapping with each other. We are not getting any signal for the time being. The traders and investors are advised to sit aside and wait for the clear breakout on either side. The range is $1308 to $1282 is very strict range and chances are very high that we may see bullish breakout of $1308 level in very short term.
Continue reading “Gold:-Tug Of War Between Bulls And Bears”
May 29, 2018
Well pair is making successively lower lows and lower highs on daily and weekly basis which indicates that bears are dominating the bulls at every nook and corner. The way bears are reacting we can see a strong selloff on the pair and there is no change to buy or to hold. It’s an fabulous opportunity to sell the pair as bears are driving the car and accelerating towards south side. Yesterday pair has made fresh low of year 2018 i.e.1.16068.
Continue reading “EUR/USD:-Rounding top pattern has been formed.”