Chart Suggests Temporary Pause In EUR/USD Ascent
Hiyo my avid forex fans! In my previous article about the euro, I mentioned that its recent rally after breaking down from what appears to be a head and shoulders formation could be over soon. However, a full blown breakdown and a reversal did not really pan out as the euro bulls were able to out-muscle the bears to place them back on top.
As you can see from the EURUSD’s 4-hour chart, the bears were forced to cover their short positions when the price of the euro went back above the … [visit site to read more]
Oil Tumbles As Speculative Interest Drops, Gold Curbed By Quiet Confidence
North American Commodity Update
Commodities – Energy
Speculative Confidence in Crude Tumbles According to COT Data
Crude Oil (LS Nymex) – $74.34 // -$0.68 // -0.91%
US-based oil would see its impressive bullish reversal hit a wall Friday despite a steady climb in risk appetite seen across other speculative-based asset classes. The first decline for crude in three days would develop on the same day that the S&P 500 rallied for a fourth consecutive session and tested levels not seen since … [visit site to read more]
Canadian Dollar: Bullish Bias Above 1035
Update on supports and resistances. … [visit site to read more]
Forex Trading: EURUSD Tests 38.2% Fibo Resistance At 1.2871 Level
The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent highs come … [visit site to read more]
