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  1. EUR/USD Weekly Technical Outlook: Rally to the Bullish

    by , 09-23-2018 at 11:08 AM
    On Thursday, the euro finally made some headway out of the congestion it's been stuck in during the past few weeks. The breakout turns the once-viewed resistance area in the low to mid-11700s into support, and as long as price stays above the outlook is favorable for another leg higher.

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    A break below 11700 would put price back inside the choppiness the euro just came from and at the least be a caution signal for longs, if not turn the tone ...
  2. US Dollar Technical Analysis: Daily Correction

    by , 08-28-2018 at 01:59 PM
    The US Dollar is seeing its sharpest pullback after touching technical resistance mid-month at 97. The Dollar Index has pulled back by 2.4% despite hawkish talk from Fed members. The key question on the charts will be as to whether the next move higher in US Dollar will result in a lower-high that is followed by the next big breakdown.

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    As a technically-driven FX trader, the most important development for me to watch is what happens on the ...
  3. Crude Oil Price Forecast: Possible Daily Bullish Breakout

    by , 08-24-2018 at 05:40 AM
    Backwardation is rising again, and thatís good news for bulls. The spread between December 2018 and December 2019 has widened in favor of Dec. 18 showing a demand premium that will likely continue to support the bullish argument. The rise came after the largest stockpile drawdown of crude in the US in four weeks per weekly EIA data.

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    Weekly EIA data showed a bigger-than-expected draw of nearly six million barrels against an expectation of ...
  4. GBP/USD: Bearish Breakdown

    by , 08-20-2018 at 08:03 AM
    GBPUSD: Retail trader data shows 70.5% of traders are net-long with the ratio of traders long to short at 2.39 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.40482; price has moved 9.4% lower since then. The number of traders net-long is 4.5% lower than yesterday and 7.3% lower from last week, while the number of traders net-short is 1.6% lower than yesterday and 9.7% higher from last week.

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    We typically ...
  5. Nikkei 225 Technical Analysis: Ranging

    by , 08-09-2018 at 02:34 PM
    The Nikkei 225ís daily chart points to a touch of technical stasis, of the sort now quite common across the equity market space. The Tokyo stock benchmark has settled into a broad range since late July at what- by recent standards- are quite elevated levels. While bulls can if they like take some comfort that the market is clearly in no hurry to take cash off the table, there is clearly little impetus to push on towards recent highs, which remain just out of reach.

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