• USDCAD approaching resistance, potential drop!

    Price is approaching our first resistance at 1.3387 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 1.3069 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). Stochastic (89,5,3) is also approaching its resistance and a reaction off […]

  • AUDNZD approaching support, potential bounce!

    Price is approaching our first support at 1.0775 (horizontal overlap support, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.0953 (horizontal swing high resistance, 61.8% Fibonacci extension). A breakout above our intermediate resistance at 1.0899 (horizontal swing high resistance, 78.6% Fibonacci retracement) might […]

  • Summary

    Today we are seeing a nice setup on USDCHF as it is approaching or first resistance which coincides with our Fibonacci retracement and Fibonacci extension level where we expect a drop to occur below this level. We are also seeing a nice setup on USDJPY where it is approaching our first resistance where we expect […]

  • GBPAUD approaching resistance, potential drop!

    GBPAUD is approaching our first resistance at 1.8084 (horizontal swing high resistance, 61.8% Fibonacci retracement, 161.8%, 100% Fibonacci extension, Elliot wave structure) and a strong reaction might occur below this level, pushing price down to our major support at 1.7769 (horizontal overlap support, 50% Fibonacci retracement). A breakout below our short term ascending line might […]

  • EURUSD approaching support, potential bounce!

    EURUSD is approaching our first support at 1.1626 (horizontal overlap support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above that level pushing price up to our major resistance at 1.1723 (Horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (34,5,3) is also bouncing off our support and we […]

  • USDCHF approaching resistance, potential drop!

    Price is approaching our first resistance at 0.9918 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 0.9827 (horizontal overlap support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension). A breakout below our intermediate support at 0.9856 (horizontal swing low […]

  • USDJPY approaching resistance, potential drop!

    Price is approaching our first resistance at 110.22 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop could occur below this level pushing price down to our major support at 108.88 (61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout below our intermediate support at 109.37 (horizontal swing low support, […]

  • New economic data is expected to shake the markets

    The oil market has focused on talks between the US, Japan and South Korea, which are discussing creating a common “black list” which will include Iran.

  • Oil market overview: no clear direction

    Oil prices extended rally on Tuesday due to the impact of transitory factors limiting supply in the market. Canada reduced supplies to the US by 360,000 barrels after interruptions in production, and the seizure of oil terminals in Libya by armed opposition threatens to completely halt oil exports from the country.

  • Summary

    Today we are seeing a nice setup on USDCAD as it is approaching resistance which coincides with a Fibonacci retracement and extension. Stochastic is also approaching resistance where a reaction off this level might see a corresponding drop in price. We are also seeing a nice setup on NZDUSD as it is approaching resistance where […]

  • NZDUSD approaching resistance, potential for drop!

    Price is approaching our first resistance at 0.6958 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.6826 (horizontal swing low support, 61.8% Fibonacci extension). A breakout below our intermediate support at 0.6886 (horizontal overlap support, 50% Fibonacci […]

  • AUDUSD approaching resistance, potential drop!

    Price is approaching our first resistance at 1.0779 (horizontal overlap resistance, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong reaction might occur below this level pushing price down to our major support at 1.0602 (horizontal overlap support, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout below our intermediate support at […]

  • Market upheaval follows Trump’s new strategy

    Market upheaval followed Donald Trump’s strategy of raising bets, making the Asian markets more prone to a sell-off on Monday.

  • Will gold go down?

    We discuss where Canadian currency is going to head during next week and ponder what is the gold currently up to.

  • Summary

    Today we are seeing a nice setup on USDCAD as it is approaching resistance which coincides with a Fibonacci retracement and extension. Stochastic is also approaching resistance where a reaction off this level might see a corresponding drop in price. We are also seeing a nice setup on NZDUSD as it is approaching resistance where […]