USD/CAD

What happened previously?

USDCAD rallied and went past our 1st resistance.Our previous bearish call is not valid. 

What can we expect?

We are seeing price to reverse from 1st resistance at 1.47155 and there’s a overbought Stochastics providing support too. 1st support level is a confluence level of 1.113% Fibonacci extension , horizontal swing high resistance and  161.8% Fibonacci retracement.

 

UKOIL

What happened previously?

Market moved lower and retested our 1st support at 25.57. Prior bullish call is still valid. 

What can we expect?

Our bullish view unchanged. We are seeing the price to retest the first 1 support now at 25.57 and is likely to bounce from there. Stochastics are reaching a new low at -0.12 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, the market moved lower and reached the previously highlighted target support  at 1517.68.

What can we expect?

Our bias changed to a bullish call. We are seeing prices to reach 1st support  at 1464.99 and likely to bounce from there. Stochastics is also showing some bullish momentum for a bounce to happen. The 1st support happens to be where 61.8% Fibonacci retracement  and horizontal swing low line up. 

 

XCUUSD

What happened previously?

Market moved lower and broke previous highlighted support. 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 1.6441. Stochastics are reaching a new low at 0.10 which serve as a good support for price. 1st  support is a confluence level of a 61.8% Fibonacci retracement and 88% Fibonacci retracement.

 

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