On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands and has since corrected to the downside. The 50 SMA has crossed above the 100 SMA indicating the bull movement is still strong while the Stochastic oscillator is not indicating any overbought or oversold…
Read more
Meanwhile, Citigroup Inc., which also reported earnings on April 14, announced Q1 earnings of $1.86 per share, beating the broader market’s expectation of $1.66. Citigroup’s revenues also surprised to the upside, coming in at $21.44 billion for Q1 to analyst estimates of $17.91 billion. This represents a 12% improvement over last year’s figures. Both stocks…
Read more
EUR/USD Technical View: The technical outlook for the EUR/USD is optimistic on the weekly chart, finding some comfort north of support at $1.0888. Technically speaking, the currency pair is in the early phase of an uptrend on the weekly after pencilling in a higher high at $1.1076 last week, which opens the gate for a…
Read more
GBP/USD Currency Pair Projecting Further Upside Kicking things off with a look at where we are on the weekly scale, buyers appear reluctant to push beyond YTD tops. Still, the weekly chart demonstrates scope to approach as far north as resistance from $1.2767, a long-term horizontal base sharing chart space with a trendline resistance from…
Read more
Seasonality: Another important factor for Natural gas is seasonality. The price of this commodity usually peaks in Winter (the withdrawal period) and in summer (the injection period). Now there’s a potential dip between seasonal trends, and considering a softening in the monetary policy from FED, it’s possible to see at least some pullback, which might…
Read more
AUD/USD Technical Position: Since the beginning of March, the AUD/USD currency pair has echoed a subdued tone around the late November lows (2022) at $0.6585 on the weekly timeframe. Overhead, resistance warrants attention at $0.7020 with scope to pursue deeper terrain as far south as demand from $0.5975-0.6166. Interestingly, out of the daily timeframe, buyers…
Read more
Technical Confluence Accompanying the AB=CD pattern is price shaking hands with the lower Bollinger Band (set to three standard deviations) and the Relative Strength Index (RSI) exiting oversold territory. Therefore, the supporting technical confluence—momentum and volatility indicators—suggests a short-term push to the upside may unfold, targeting the aforementioned Fibonacci retracement ratios. Charts: TradingView Meanwhile, after…
Read more
Short-Term View Ahead of FOMC Minutes Based on the H1 timeframe, it is obvious that there is a notable downside bias, with price action close to testing support at 101.44. In the event of a spike higher, resistance warrants consideration at 101.82. Therefore, given the bearish vibe derived from the bigger picture, 101.44 support appears…
Read more
On the technical side the price on the fiber chart has found resistance on the upper band of the Bollinger bands last Tuesday and has since corrected to the downside. The Bollinger bands are contracting at the time of this report but volatility could pick up later in the week around publication hours of the…
Read more
ATH Likely to be Challenged Technically, limited resistance is evident on the weekly timeframe, following the breach of resistance from $1,988. This paves the way for a run at the ATH of $2,070. You may recall that I highlighted the daily timeframe’s price action in the Weekly Market Briefing, paying specific attention to a clear-cut…
Read more