Why is the Dollar weakening? This is because the Fed has something to do with it.
With the CHN, we have approached the descending channel.
With WTI we have breached the shoulder and the double bottom lines, as well as the daily descending channel.
Gold has bounced from the previously broken symmetrical triangle, which doubles as a pennent this week.
According to the COT CFTC reports, market operators have abruptly shrunk their short buy orders.
We are waiting for the rates of the offshore Yuan (CHN) to reach our target levels.
As prices rise, more and more investors will be looking at shale oil, and vice versa.
We are waiting for USD/RUB to continue falling.
The Euro has returned to the previously broken daily ascending channel.
There is an inverse flag shaped for the pair in the four-hour and day chart.
Last week was all about Janet Yellen’s speech before the congress.
Yellen stated that we should not expect a steep and quick rate increase – the US need weak currency to support their exports.
The price has formed a reverse bearish engulfment model, which is pressing against the broken daily channel…
Just a few hours ago, the head of the Federal Reserve of New York told some interesting things that have sent the USD up north.
Last week Oil has continued a correction which can unexpectedly end with, for example, negative data from China.