Blogs

<p>The JP 225 index stretched its two-month old downside rally to an almost four-year trough of 15,383 before retracing half of the decline.  The MACD seems to be gaining ground towards the zero line, the RSI is still hovering around its 50 neutral mark and the simple moving averages (SMAs) continue to point south, all signaling a more cautio

<p>Highlights Unprecedented demand destruction – the duration of which is subject to significant uncertainty – will continue to dictate global oil markets in the near term. OPEC+’s 10th extraordinary meeting and Friday’s G20 negotiations culminated with a historic agreement to cut oil production by a combined 9.7 million barrels p

<p>US 100 stock index (cash) has retraced more than half of the bearish wave started from the 9,750 top, piercing all its simple moving averages (SMAs) on the four-hour chart and topping at a one-month high of 8,495. The odds for a downside correction are increasing as the price is testing a familiar restrictive area […]

<p>WTI oil price pared brief overnight’s gains and fell to new two-week low at $21.66 in European trading on Tuesday, extending weakness into third straight day. Sentiment remains weak as traders strongly fear significant drop in global demand due to coronavirus lockdown, with no positive impact from decision of OPEC+ group to reduce ou

<p>During the previous weekend the OPEC plus group had concluded on a massive production cut program to help stabilize the Oil market. The official written report by OPEC states that from May to June 2020, 9.7M barrels per day will be cut and the agreement extends even further from July to December with cuts reaching […]

<p>USDCAD held onto losses for the third day in a row, dropping to a one-month low of 1.3855 on Monday. Currently, the pair has been developing below the 20- and 40-period simple moving averages (SMAs) and the falling tentative trend line since March 19. The RSI in the four-hour chart, is turning higher after the […]

<p>The British pound has continued its recent recovery against the US dollar currency, with the pair now trading above the 1.2550 level. Going forward, the GBPUSD pair is increasingly likely to target the 1.2600 resistance level as buying interest appears strong at this stage. If bulls can hold price above the 1.2600 level then a […]

<p>The US dollar has remained under pressure against the Japanese yen currency during the European trading session as the pair trades towards the 107.50 support level. A sustained break under the 106.80 level could see the USDJPY pair targeting the 105.85 support level. Overall, technical selling towards the USDJPY pair could increase as the

<p>The pair stays in red for the fourth consecutive day as rising demand for safe havens on strong uncertainty keeps yen inflated. Today’s action broke below important Fibo support at 107.69 (38.2% of 101.18/111.71) which was cracked on Monday but without clear break. Rising bearish momentum and daily MA’s in full bearish setup (5

<p>Downside risks have dominated the single European currency against the Canadian Dollar since March 20. The currency pair was guided by a descending channel pattern. Given that the exchange rate has breached the 50-, 100– and 200– period SMAs, bears are likely to drive the price lower within the following trading sessions. The potential tar