Wheat (ZW) is consolidating to start the week after last week’s bounce off a fresh 2023 low. Although ZW could retest in the next week or so the weekly chart descending wedge support, odds are increasing and moderate for a test of the same wedge’s resistance before month end…
The AUDUSD has consolidated roughly a month around downchannel resistance (on the weekly chart), with rising odds for a weekly close by mid January, above the 50% Fib retrace of the slide from the April peak to the October low. With a retest of the psychologically key 0.65 whole figure level increasingly unlikely in January, the AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
The AUDUSD is edging higher as its month plus consolidation around downchannel resistance (on the weekly chart) approaches completion. Regardless of any retest of the consolidation range low next week, the AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
The AUDUSD is edging higher as its near month long consolidation around downchannel resistance (on the weekly chart) approaches completion. The AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
Register/Login to freely access technical analysis on the market described in the headline above. Today’s Top 3 Trades includes technical analysis on: Softs (Cocoa | Cotton) + Today’s Top Trade (AUDUSD) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM asRead More
The EURUSD is trying to gain for a 3rd straight day, nearly complete on the Bull Flag consolidation of the past week after forming a fresh November high. Odds are elevated for a test of the psychologically key 1.05 whole figure level before the weekend…
Soybean (ZS) is consolidating to start the week, hesitating for roughly 2 weeks now just below triangle resistance (on the weekly chart) and near the 50% Fib retrace of the slide from the June high to the July low. Odds are better for a retest of the 2022 high going into year end, than it is for a slide back to the July low during the same period, with the July low coinciding with the 50% Fib retrace of the May 2019 to June 2022 bull market (as can be seen on tradingview.com)…
Corn (ZC) gapped up more than 2% to start the week, but is likely to consolidate these next few days as it bumps against the psychologically key 700 whole figure level and triangle resistance (on the weekly chart). With the rebound off upchannel support (on the weekly chart), odds are decent for a test of the same upchannel’s resistance, coinciding roughly with the 2022 high, before year end…
Cocoa (CC) gained another almost 1% yesterday, closing near triangle resistance (on the daily chart). With the weekly Hammer having refused Wednesday to slide back to the 2022 low, CC is making progress in forming its major bottom…
The AUDUSD is trying once again to form its major bottom, attempting to form a higher August low versus the July low. Nevertheless, with the strong rejection last week from the August high, the AUDUSD is vulnerable to extending the weekly chart descending wedge (with wedge resistance defined by the line connecting the April to August highs)…
