Category: bounced
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Chart Art: WTI Crude Oil (USOIL) Just Bounced From a Range Support. Now What?
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A rebound in crude oil prices has pushed West Texas Intermediate (USOIL) crude higher from a key technical support area. Will this cause USOIL to reconsider areas of highest interest? Let’s check the 4-hour time frame: West Texas Intermediate (USOIL) 4 hours Chart by TradingView If you read Thursday’s market…
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EURUSD held the support outlined in the morning kickstart video and bounced. What next?
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Earlier today, in my introductory video, I highlighted the next major support level for the EUR/USD. This level was shown and highlighted between 1.1131 and 1.11399. Here is the clip… So what happened? Below is the chart of today’s price action. The price did not stop lower between the level…
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USDJPY Technical Analysis – The pair bounced on the key 152.00 support
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Basic Overview The US dollar has been steadily rising against most major currencies over the past two weeks, although the catalyst behind the move has been unclear. One good argument is that most of the moves we have seen over the past 10 days have been driven by debt relief…
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AUDUSD Technical Analysis – The pair bounced from the key support
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Basic Overview The US dollar remains in a bearish mood as US data points to continued strong growth with low inflation. Yesterday, we got a good US retail sales report which suggests that stories of deteriorating consumer spending are overblown. Overall, this should support a soft bearish narrative and be…
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The GBPJPY is trading at highest level since 2008 and bounced off support today.What next?
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When the market is trending, it is better for traders to understand when the market trend is changing, rather than trying to pick a top or bottom depending on which direction the market is going. For the GBP/JPY pair, it has been in an uptrend for the past seven months…
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GBPJPY tests the highs from last week after dip today bounced off MA support
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GBPJPY was in an uptrend this week, but turned lower during the European session after weaker than expected preliminary PMI data. The price fell below the 100-hour moving average (blue line on the chart above at 200.77) but found support near the 200-hour moving average and the lower end of…