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The AUDUSD surged roughly 100 pips yesterday on the back of the FOMC and US Fed rate hike, halting the correction from early April. Yesterday’s break above downchanel resistance (on the 4hr chart) dramatically increases odds for a break above descending wedge resistance (on the daily chart) by the weekend…
Cocoa (CC) edged higher yesterday with a daily Doji, gaining for a 4th straight day. Significantly, CC appears poised to extend its 2 week bounce within what is arguably a slight upchannel (on the weekly chart)…
The EURUSD consolidated in today’s Asia morning after surging a second straight day yesterday. Significantly, the EURUSD has just reclaimed the January low and the 50% Fib retrace of the February to March bear extension…
Silver (SI) formed a daily Hammer yesterday, reversing much of yesterday’s initial sharp losses. Significantly, SI is trying to halt the strong profittaking from the March high, and is suddenly back to near the psychologically key 25 whole figure level…
Soybean (ZS) is pushing higher to start the week, nearing completion on the daily chart triangle. Significantly, with a green weekly Doji beginning to form, ZS appears unwilling to deepen in its 2 week plus consolidation, improving odds for ZS to gravitate before month end, back to its 2022 high (from February)…
The AUDUSD is edging higher going into today’s European morning, breaking upchannel resistance (on the 4hr chart). Significantly, last week’s brief surge above downchannel resistance (on the weekly chart) strengthens the uptrend since February…
The EURJPY is consolidating for a 5th day near ascending triangle resistance (on the 4hr chart). Significantly, the EURJPY appears poised to resume its breakout last week, above a triangle resistance (on the weekly chart)…
The EURUSD is consolidating going into today’s European morning after 3 straight days of gains. Significantly, the EURUSD is once again trying to halt the downchannel (on the weekly chart), with a test of downchannel resistance coming as early as after today’s 745am EST release of the ECB’s Main Refinancing Rate and Monetary Policy Statement, or following the 830am EST ECB Press Conference…
Natural Gas (NG) is trying to firm in its 3rd day of consolidating, edging back towards the psychologically key 5 whole figure level. Significantly, with NG testing the 61.8% Fib retrace of the October to December 2021 slide, odds are fairly elevated for a deeper consolidation to begin Thursday following the highly anticipated weekly storage data…
