USD/CAD

What happened previously?

USDCAD rallied and reached our 1st resistance target.

What can we expect?

We are seeing price to reverse from 1st resistance at 1.4267 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 78.6% Fibonacci extension and 23.6% Fibonacci retracement.

 

UKOIL

What happened previously?

Market moved lower and broke previous highlighted support at 29.55. Prior support levels are invalidated.

What can we expect?

Our bullish view unchanged. We are seeing the price to retest the first 1 support now at 25.57 and likely to bounce from there. Stochastics are reaching a new low at 0.99 which serve as a good support for price. If price drops past 1st support, it may drop till the 2nd support where the 100% Fibonacci extension stands.

 

XAUUSD

What happened previously?

As expected, market moved higher and reached the previously highlighted target resistance  at 1522.64

What can we expect?

We are seeing prices to retest 1st resistance  at 1548.86 and likely to drop from there. Ichimoku cloud is also showing some bullish momentum for a minor bounce to happen.  The 1st resistance happens to be where 38.2% Fibonacci retracement and 61.8% Fibonacci extension line up. 

 

XCUUSD

What happened previously?

Market moved lower and broke previous highlighted support at 29.55. Prior support levels are invalidated.

What can we expect?

Our bullish view unchanged. We are seeing the price to bounce further from the first 1 support at 2.2889. Stochastics are bouncing from a new low at -0.78 which serve as a good support for price. 1st resistance is a confluence level of a 38.2% Fibonacci retracement and horizontal swing high resistance.

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