The USDCAD is trying to form its 4th straight green daily candle going into today’s European morning. Significantly, the USDCAD has completed the daily chart ascending triangle/Bull Flag consolidation, and is pushing higher against the downchannel resistance (on the weekly chart)…
The USDCHF gained roughly 50 pips yesterday, resolving an ascending triangle and Bull Flag consolidation (on the daily chart). Significantly, any profittaking following the US Non-Farm Payrolls (NFP) Friday is unlikely to derail the upchannel extension (on the weekly chart), with bulls increasingly eyeing a retest of the March and 2021 high by July sometime…
Natural Gas (NG) is trying to form its 7th straight green daily candle after forming a fresh 2021 high yesterday. Significantly, NG is vulnerable to a healthy correction as it bumps up against the upchannel resistance (on the weekly chart) connecting the December to June highs, and hinted at the loooming pullback with yesterday’s strong intraday reversal…
Soybean (ZS) is trying to stabilize to start the week, bouncing off a near complete wedge/triangle’s support (on the 4hr chart) and trying to break decisively above descending wedge resistance (on the daily chart). Significantly, regardless of the high probability for a multi-day bounce, ZS will remain vulnerable to a Bear Flag extension in July while ZS sits below uptrend support (on the weekly chart)…
The USDCHF appears to be completing a 3 day descending triangle and Bull Flag consolidation (on the 4hr chart). Significantly, the powerful bounce last week off upchannel support (on the weekly chart) is poised to continue, reflecting the strong momentum in the USDCHF’s major new uptrend…
Natural Gas (NG) is consolidating yesterday’s strong gains as it approaches the 2021 high ahead of Thursday’s highly anticipated weekly storage data release. Significantly, NG is arguably in a Bull Flag where the past week plus of triangle (on the daily chart) represents the flag’s consolidation…
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