In hopes of an increase of demand of petroleum based products due to the news of the Coronavirus vaccines being over 90% effective, a massive increase in air travel, the easing of lockdowns measures and the normal winter rally, crude oil futures (WTI and Brent) have rallied above massive levels. Brent in particular has broken […]
The NZD/USD spiked earlier this week on massive retail sales growth (q/q) to trade above the 0.70 zone but bulls were not able to continue this move beyond this level. Let’s talk about the sell zone for the kiwi against the US Dollar. The top of the zone is the highs made in early June […]
The US dollar just broke with the previous 3 week lows (yellow line) to retest the 92.00 level in the European trade session. The US Dollar bearish pressure is still heavy at these levels but the true make it or break it level is the 91.75 which is the September 20th lows and the […]
The EURUSD has rejected the 1.1900-1.1920 zone at least 4 times in the past 2 months giving us the opportunity to sell at the top of the range whilst the DXY is bottoming around the 92.20 mark. We are not forecasting a strong US Dollar in the immediate future, but technically speaking we’re seeing an […]
Fundamentally speaking we are very bearish on the USD and have been since March-April 2020 when the Coronavirus pandemic pushed global Central Banks to increase their asset purchasing program and their balance sheet to new all time highs. This massive round of Quantitative Easing has weighted heavy on the US Dollar which has devaluated by […]
The USDCAD bounced back from the December 2019 lows on Monday and has rallied 180 pips in a pullback move to retest the previous lows. This level confluences with the 50% retracement of the previous bearish move, a retest of the current bearish structure and the psychological resistance at 1.3100 If this level holds and […]
The SP500 retraced back from all-time highs on Monday and has been trading inside of a range after closing the weekend gap. This is important because a failure to close below the 3500 level is very bullish and would also mean a new higher low has been printed. After the US presidential election there is […]
The GBPUSD has hit a massive level (previous base right at the 1.33 inside a reversal pattern. The increase in QE by the BoE remains our main bearish factor but constant Brexit negotiation news might bring some volatility into this market. Should the Pound break our key levels against the USD we could see price drop sharply to the bottom […]
The USDCAD is setting up for a bounce pre US election day. Structurally speaking we are retesting and rejecting the 1.3220 level which are the previous highs. The USD however is rejecting the 94.00 level which could be bearish for the USDCAD. If the USDCAD breaks with the 1.3200 level all bullish bets are off. […]
