WTI Crude (CL) slid nearly 1% Friday, continuing a month plus bottoming effort around the psychologically key 70 whole figure level. The bigger picture is of CL is trying to form a higher major low (formed December) versus the March and May low…
The AUDJPY has gained more than 200 pips from Tuesday’s low, and is now forming a weekly Hammer just a few days’ volatility from the 2022 high. Odds are elevated that the AUDJPY will want to consolidate the balance of June near its current 23.6% Fib retrace of the slide from the Oct 2007 high to the Oct 2008 low (as seen on tradingview.com)…
The USDJPY is edging up going into today’s European morning after yesterday’s strong bounce. Significantly, with the USDJPY back above the psychologically key 115 whole figure level, and the current weekly Hammer showing an unwillingness for the USDJPY to test wedge support, odds are high for the ascending wedge (on the weekly chart) to extend above the 2022 high in the next week or so…
The AUDJPY is gaining for a 3rd straight day and week after today’s Asia morning release of Australian employment data. Significantly, the AUDJPY is quickly nearing last week’s high, with any weekly close above the 2022 high to dramatically increase the odds of testing the 2021 high in the month after…
The AUDUSD is rallying in today’s Asia morning on the 730pm EST release of Australian employment data, adding to yesterday’s bounce off uptrend support (on the 4hr chart). Significantly, although the AUDUSD remains within a downtrend (on the weekly chart), a daily close above triangle resistance (on the daily chart) would dramatically increase odds for a test of the weekly chart downtrend resistance in the week after…
The USDJPY is edging higher going into today’s European morning, and has arguably completed a near 2 month plus Bull Flag consolidation (on the weekly chart). Significantly, with the USDJPY back above the psychologically key 115 whole figure level, it is well positioned to extend the upchannel (on the weekly chart)…
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