Traders are focused towards the upcoming FOMC minutes. After the disheartening US NFP report, the upcoming minutes could set a little dovish tone for the dollar and this is what is being priced. The euro is strong against the dollar – at least for now, but we maintain our view that the divergence will become…
Read MoreCrude oil is moving higher today as traders are expecting that the crude inventory data may show a decline given that we have seen -1.5% rig count fall since last week at Bakken, -8.7% at Basin and -6.8% at Eagle Ford. So, in summary, what is expected is that supply glut could be stepping off…
Read MoreThe EUR/GBP pair is trading in a symmetrical triangle pattern on a 4 hour time frame. These triangles usually break in the direction of the trend and on this time frame the trend is towards the upside for two reasons. Firstly, tit is trading above the upward trend line and as long as the price…
Read MoreThe GBP/USD jumped back up from its support zone which We Mentioned last week. The support zone of 1.50822-1.5113 was a a fresh support zone on a 4 hour time frame and presented a strong probability of rebound. Going in the support zone, we mentioned that we have a strong divergence between the price and…
Read MoreThe USD/JPY pair has formed a symmetrical triangle pattern on a 4 hour time frame. These patterns are ranked towards the bottom of the list as they do not usually complete their projections or there is no clear evidence of them breaking in any particular direction. However, statistically, these patterns often break in the direction…
Read MoreThe GBP/USD pair is trading in a support zone (mentioned below) on a 4 hour time frame. The support zone is a fresh zone which means it has not been tested and this increases the odds that the price could bounce back up from this zone. The pair is also trading below the 50 and…
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