The Australian Dollar is testing familiar resistance above the 0.76 threshold against its US counterpart after prices found support above the 0.74 figure. The pair has been capped here since late June, with a sustained upward push this time around threatening April’s swing top. A daily close above the 50% Fibonacci expansion at 0.7649 clears the way for a challenge of the 61.8% level at 0.7768, a barrier reinforced by the April 21 high ...
Crude holds key support symmetryTiming relationship next week should prove critical Crude Oil - Medium-term Forces vs. Long-term Forces I have been touching upon a similar theme in most of my writings over the past couple of weeks. We are at a point in the markets where some pretty strong medium-term term trends have developed against opposing longer-term trends (copper, USD, stocks to name a few). Are we going to see the ...
USD/JPY USD/JPY traded it its highes level in almost 6 years today before stalling near the 127% extension of the 1Q14 rangeOur near-term trend bias remains higher in the rate while above 104.70A close over 106.45 is need to set off the next leg higher in the advanceAn important turn window is eyed mid-monthA close below 104.70 would turn us negative on USD/JPY Like ...
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