The EURUSD is edging higher after the post-FOMC surge, but will likely see healthy profittaking by the weekend back to below the psychologically key 1.10 whole figure level. The EURUSD’s massive rally since making its major bottom in September 2022 is due for a notable pullback going into next week with the weekly chart ascending wedge near complete…
The GBPUSD is consolidating for a 3rd straight day near downchannel resistance (on the 4hr chart). The GBPUSD appears to be readying to complete (in the next week) the Bull Flag consolidation since the mid December high…
Wheat (ZW) is starting the week consolidating for a 3rd straight day near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
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)…
The GBPAUD has been consolidating for a second week near or above the 61.8% Fib retrace of the February to September slide, and appears to be readying to break to a fresh December high. Odds are moderately high for a test of the psychologically key 1.85 whole figure level by year end…
The EURUSD appears to be gearing up to complete the 2 week plus Bull Flag consolidation and retest the psychologically key 1.05 whole figure level before the weekend. With the EURUSD comfortably above downchannel resistance (on the weekly chart), the EURUSD has halted a slide since June 2021, which itself is a part of a major downtrend from 2008 (as can be seen remains intact on tradingview.com)…
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…
Gold (GC) is consolidating a second straight day just below the psychologically key 1800 whole figure level and the 38.2% Fib retrace of the March to October slide. GC is at risk ahead of the weekend of a deeper healthy pullback as it is nearing completion on what appears to be an ascending wedge (on the 4hr chart)…
Raw Sugar (SB) edged higher yesterday, gaining for the 9th straight day and closing above the 61.8% Fib retrace of the April to September slide. SB is now comfortably above the October high, downchannel resistance (on the weekly chart) and the psychologically key 0.19 whole figure level…
The EURUSD is consolidating after the strong bounce from the 2022 low (in September). Although the EURUSD is vulnerable today to a bit more healthy profittaking, odds are elevated for a weekly close above downchannel resistance (on the weekly chart) and the psychologically key 1.00 whole figure level…
