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 28, 2018
Last week pair has made a new low of 1.3293 for year 2018 by the second estimate of UK GDP for the 1st quarter of the year,which was unchanged at 0.1%, further denting chances of a rate hike in the second half of the year. The pair is heading south due to stronger USD and weak GBP , well USD is likely to remain stronger for next 2-3 months as US interest rate are hiked between 2-3 times.
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May 25, 2018
Silver is seeking support continuously from the $16.124 level and seems ready to move upside towards $17.30 level. The current geopolical situation for US dollar seems beneficial for silver for the time being. From technical prospective we can see a potential rounding bottom pattern has been formed on daily chart which is providing bullish signal for traders and investors.
Continue reading “XAG/USD(Silver)-Bulls Are Attacking, Just Buy”
May 18, 2018
The pair is trading at 110.89 level and making successively higher highs and higher lows on day to day basis. Poor Japanese data and supporting US data has lifted the pair towards north side. The national CPI data was down by 1.1% which was the key factor to take the advantage by bulls. Traders and investors are showing their interest to buy the USD as they have bullish bias for USD as the widening 10 years differential is too attractive to ignore.
Continue reading “USD/JPY has become the sky rocket”
May 17, 2018 09:00 AM
Crude oil price has arrived near $71 post crude oil inventory decreased by almost 1.4mbpd. Crude oil is trading in completely uptrend from short term point of view and it is used to say that Trend is your friend so every dips should be converted as buying opportunity as uptrend line has been formed on the daily chart and aggressive buying can be seen due to critical situation in Venezuela and tensions in the middle east.
Continue reading “Crude Oil: Bulls are driving the Car due to Geopolitical tension.”