WTI pulls back to $67.00 even as Saudi Arabian news, US stimulus probe October 2018 top
on 08 March 2021, in News
WTI eases after week-start gap-up to multi-month high. Saudi Arabia increases oil prices for Asia, Iran-backed Houthi rebels said they targeted Saudi oil ports. US Senate passage $1.9 trillion covid stimulus, House is expected to vote on Tuesday. Risk news will be the key amid a light calendar. WTI wavers around $67.00, following its run-up
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USD/JPY idles in the 108 territory as markets weigh the underlying funda
on 08 March 2021, in News
USD/JPY meets resistance in the open this week as traders weigh the underlying of the US economy. Weekly support is in focus within the heavily bid environment. After the heavy bid in the greenback at the end of the week’s sessions following Federal reserve’s Chair Jerome Powell’s comments, the yen is showing some resilience as the mighty
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EUR/CAD: Bulls in play until 4-hour resistance
on 08 March 2021, in News
EUR/CAD bulls about to step-up at critical monthly demand. The 4-hour chart offers an upside confluence target at a daily 61.8% Fibo. There is little downside potential left in this cross as the bears penetrate the deep supply on the monthly chart. The following top-down analysis illustrates where the next bullish play could unfold. Monthly
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Gold Price Analysis: XAU/USD regains $1,700 as US Senate passes stimulus
on 08 March 2021, in News
Gold picks up bids while consolidating losses from nine-month low. US Senate passed $1.9 trillion covid stimulus, House vote expected to Tuesday. China warns America on Taiwan, Houthi Rebels accept attacks on Saudi oil ports. Risk news will be the key amid a light calendar. Gold begins the week’s trading on a front-foot while crossing
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Developed countries may be required to maintain stimulus for longer than presently expected – PIMCO
on 08 March 2021, in News
In its latest client note, the Pacific Investment Management Company (PIMCO), a US firm that manages circa US$1.9 trillion in assets, cited China’s rolling back of stimulus to be the reason behind the need for developed countries to keep the easy money flowing. The US firm initially cited China’s plan of a gradual, also early,
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GBP/USD Price Analysis: Bulls running into a wall of resistance
on 08 March 2021, in News
Bulls take hold of the open while the week’s outlook spells a bearish divergence. Bears to take the baton in sessions to come. GBP/USD is opening the week at a critical juncture. The monthly chart displays a positively bearish outlook while the 4-hour still has room to move higher to meet key resistance. the following
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GBP/JPY Price Analysis: Ascending triangle around multi-day top keeps bears hopeful near 150.00
on 08 March 2021, in News
GBP/JPY keeps Friday’s corrective pullback from 149.36, stays near to confirmation point of the bearish move. Normal RSI conditions suggest continuation of the north-side grind. MACD teases sellers, 100-bar SMA adds to the downside filters. GBP/JPY picks up bids to 150.00 during the early Asian session on Monday. In doing so, the quote again refrains
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NZD/USD: Struggles to regain 0.7200 as bears keep reins at seven-week low
on 08 March 2021, in News
NZD/USD keeps Friday’s corrective pullback without gaps at weekly open. Treasury yields stay strong near February 2020 high amid reflation fears. US dollar bulls cheered upbeat jobs report, reaction to Senate’s passage of stimulus awaited. China’s Trade Balance jumped 60% during January-February, no major data/events up for publishing in Asia. NZD/USD stays mostly unchanged from
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EUR/USD Price Analysis: Bulls stepping up at critical support
on 08 March 2021, in News
EUR/USD bulls in play from key support on the monthly time frame. Lower time frames depict the bullish outlook on a break of the hourly 10 SMA for the open. EUR/USD is decelerating in its current bearish impulse and the upside is compelling from support. The following illustrates the playbook. Monthly chart Price has reached
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News
WTI pulls back to $67.00 even as Saudi Arabian news, US stimulus probe October 2018 top
on 08 March 2021, in News
WTI eases after week-start gap-up to multi-month high. Saudi Arabia increases oil prices for Asia, Iran-backed Houthi rebels said they targeted Saudi oil ports. US Senate passage $1.9 trillion covid stimulus, House is expected to vote on Tuesday. Risk news will be the key amid a light calendar. WTI wavers around $67.00, following its run-up
Read more
USD/JPY idles in the 108 territory as markets weigh the underlying funda
on 08 March 2021, in News
USD/JPY meets resistance in the open this week as traders weigh the underlying of the US economy. Weekly support is in focus within the heavily bid environment. After the heavy bid in the greenback at the end of the week’s sessions following Federal reserve’s Chair Jerome Powell’s comments, the yen is showing some resilience as the mighty
Read more
EUR/CAD: Bulls in play until 4-hour resistance
on 08 March 2021, in News
EUR/CAD bulls about to step-up at critical monthly demand. The 4-hour chart offers an upside confluence target at a daily 61.8% Fibo. There is little downside potential left in this cross as the bears penetrate the deep supply on the monthly chart. The following top-down analysis illustrates where the next bullish play could unfold. Monthly
Read more
Education
Technical analysis
USD/RUB intraday: the downside prevails as long as 74.534 is resistance
on 06 March 2021, in Technical Analysis
Our pivot point stands at 74.534. Our preference: the downside prevails as long as 74.534 is resistance. Alternative scenario: above 74.534, look for 74.872 and 75.074. Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its
NZD/USD intraday: the upside prevails as long as 0.7146 is support
on 06 March 2021, in Technical Analysis
0.7146 is our pivot point. Our preference: the upside prevails as long as 0.7146 is support. Alternative scenario: the downside breakout of 0.7146 would call for 0.7115 and 0.7097. Comment: the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20
GBP/JPY intraday: the upside prevails as long as 149.63 is support
on 06 March 2021, in Technical Analysis
Our pivot point is at 149.63. Our preference: the upside prevails as long as 149.63 is support. Alternative scenario: below 149.63, expect 149.26 and 149.03. Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20
EUR/RUB intraday: the downside prevails as long as 88.840 is resistance
on 06 March 2021, in Technical Analysis
Our pivot point is at 88.840. Our preference: the downside prevails as long as 88.840 is resistance. Alternative scenario: the upside breakout of 88.840, would call for 89.250 and 89.490. Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the
EUR/GBP intraday: the downside prevails as long as 0.8623 is resistance
on 06 March 2021, in Technical Analysis
Our pivot point is at 0.8623. Our preference: the downside prevails as long as 0.8623 is resistance. Alternative scenario: the upside breakout of 0.8623, would call for 0.8641 and 0.8652. Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the
USD/ZAR intraday: as long as 15.2640 is support look for 15.5450
on 06 March 2021, in Technical Analysis
15.2640 is our pivot point. Our preference: as long as 15.2640 is support look for 15.5450. Alternative scenario: below 15.2640, expect 15.1640 and 15.1050. Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its
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