The GBPAUD is trying once again to bounce off the psychologically key 1.70 whole figure level and descending wedge support (on the weekly chart). A daily close above downchannel resistance (on the daily chart) would likely be followed within a week after by a test of the September high and descending wedge resistance (on the weekly chart)…
The USDJPY is trying to form its 4th straight day of gains going into today’s European morning. Significantly, the USDJPY has bounced strongly this week off the psychologically key 115 whole figure level and is now a day or so’s volatility from its 2022 high…
The USDJPY is edging up going into today’s European morning after yesterday’s strong bounce. Significantly, with the USDJPY back above the psychologically key 115 whole figure level, and the current weekly Hammer showing an unwillingness for the USDJPY to test wedge support, odds are high for the ascending wedge (on the weekly chart) to extend above the 2022 high in the next week or so…
The USDJPY is edging higher going into today’s European morning, and has arguably completed a near 2 month plus Bull Flag consolidation (on the weekly chart). Significantly, with the USDJPY back above the psychologically key 115 whole figure level, it is well positioned to extend the upchannel (on the weekly chart)…
Natural Gas (NG) is firming in today’s European morning, continuing a strong reversal since last week’s bottom near the psychologically key 3.5 whole figure level. Significantly, although NG is in the early stages of halting its slide since October, before bulls get excited, they’ll want to first see a daily and weekly close above downchannel resistance (on the daily and weekly chart)…
Silver (SI) is fairly advanced in its efforts to form a bottom after the sharp slide from the November peak. Significantly, SI’s December low has been roughly equal to the September low, potentially forming a Double Bottom…
The USDCAD is trying to firm following yesterday’s sharp intraday reversal lower, remaining within a day or so’s volatility from the 2021 high. Significantly, the USDCAD appears poised before year end, for an extension of the weekly chart upchannel to the psychologically key 1.30 whole figure level, which coincides with the 38.2% Fib retrace of the slide from the March 2020 high to the May 2021 low…
The AUDUSD is consolidating after a 3 day bounce to its December high. Significantly, the AUDUSD has broken above a month long downtrend resistance (on the daily chart) and is trying to bounce off just above downchannel support (on the weekly chart)…
The VIX (VX) is trying to firm as it approaches its November and 2021 low. Significantly, the VX is testing downchannel support (on the weekly chart), increasing the odds of halting a 6 week slide this week…
The USDJPY is in the advanced stages of a 2 week plus Bull Flag consolidation (on the daily and weekly chart), firming just below the 2021 high formed in mid October. Significantly, the USDJPY is bumping into the highest levels since 2018, with the widely anticipated US Non-Farm Payrolls (NFP) on Friday potentially being a catalyst for a Bull Flag extension towards the 2017 high…
