The GBPAUD is hesitating within a key bull-bear battleground, testing the psychologically key 1.80 whole figure level, 2023 high and ascending triangle resistance (on the 4hr chart). Odds appear elevated for a surge in March to the December high and major downchannel resistance since March 2020 (as can be seen easier on a monthly chart on tradingview.com)…
Tag: GBPAUD
Wheat (ZW) Testing Key 700 Level
Wheat (ZW) is looking wobbly to start the week, gravitating towards the psychologically key 700 whole figure level. However, with ZW also probing descending wedge support (on the weekly chart), odds are moderate and rising for a strong bounce this week…
GBPAUD Weekly Gravestone Consolidates Below Key 1.8 Level
The GBPAUD is trying to halt its healthy consolidation from the February high, trying to avoid the weekly Gravestone flipping red. Any holding of yesterday’s low today should pave the way for a retest by early next week of the 61.8% Fib retrace of the February to September slide…
VIX (VX) Consolidating Near Weekly Chart Downchannel Resistance
The VIX (VX) slid almost 4% yesterday after bumping against downchannel/ descending wedge resistance (on the weekly chart), but remains poised for another test this week of this key bull/bear battleground. Any reclaiming of last week’s high will dramatically increase odds of testing the psychologically key 25 whole figure level and January high in the week after…
S&P500 (ES) Tries Holding Above Key 4K Level
The S&P500 (ES) is trying to firm going into the weekend, but remains wobbly for next week as it has arguably slid back into the downchannel (on the weekly chart). Odds are low for a fresh February high before month end, with ES more likely to slide to a new February low in the same period…
GBPAUD Weekly MACD Trying to Positively Cross
The GBPAUD is consolidating after the massive 350 pip or so gain from the Tuesday low to yesterday’s high, with decent odds now of testing the psychologically key 1.80 whole figure level and the 50% Fib retrace of the February to September slide by early March. Although the GBPAUD has halted the slide since the December high, it remains within a major downchannel since March 2020 (as can be seen easier on a monthly chart on tradingview.com)…
Silver (SI) Daily MACD Trying to Positively Cross
Silver (SI) is making progress in forming a much higher February low versus the Bull Flag Consolidation low (on the weekly chart) in September and seen more easily on a monthly chart on tradingview.com. Odds are low for SI to slide further to the psychologically key 20 whole figure level by March sometime, particularly with SI trying to halt its pullback from the January high around the 38.2% Fib retrace of the March to September slide…
VIX (VX) Rebounds Off Key 20 Level Just Above 2023 Low
The VIX (VX) bounced more than 5% yesterday off the psychologically key 20 whole figure level. The VX has now reversed half of the Monday to Wednesday slide and appears poised to retest by early next week, downchannel resistance (on the weekly chart)…
GBPAUD 3rd Weekly Doji Just Below 50% Fib Retrace of Feb-Sep Slide
The GBPAUD is forming a 3rd straight weekly Doji just below the 50% Fib retrace of the February to September slide. With volatility about to surge as hinted by the near complete triangle (on the 4hr and daily chart), the question is whether the triangle resolves lower, extending the pullback from the December high…
Natural Gas (NG) Reclaims Key 2.5 Level Ahead of Storage
Natural Gas (NG) is trying to halt the deep slide since September, with odds elevated and rising for a strong bounce off downchannel support (on the weekly chart) and the February low following Thursday’s highly anticipated weekly storage data. Any break above downtrend resistance (on the 4hr chart) post-storage would dramatically increase the likelihood of a retest of the psychologically key 3 whole figure level in the week after…