AUDUSD Rising Wedge Dec 14, 2016
AUDUSD is slowly trending higher, moving inside a rising wedge pattern visible on its 1-hour and 4-hour charts. Price is testing the resistance and could be due for a move back to support at the .7475 level.
Strategies
GBPUSD Forecast December 13, 2016, Technical Analysis
The GBPUSD pair rallied on Monday, as the US dollar softened a bit overall.The 1.27 level above could be resistive yet again, but I think the real massive “ceiling” in this market is closer to the 1.2850 level above.
AUDUSD Forecast December 13, 2016, Technical Analysis
The AUDUSD pair rallied on Monday, testing the 0.75 level above as resistance.
Crude Surges As non-OPEC Producers Agree Oil Output Cut
Crude oil prices surged a huge $3 dollars or 5% higher at the Asian open with Brent briefly trading north of $57 and WTI above $54 a barrel before pulling back slightly.
Another Bad Week As Gold Remains Under Pressure
The heavily bearish sentiment for gold continued to remain firmly in place once again last week, as the precious metal continues its stately progress ever lower, following the cataclysmic candle of the 9th November, when ultra high volume confirmed the heavy selling.
EURUSD Forecast December 5, 2016, Technical Analysis
The EURUSD pair fell slightly but then turned back around to form a hammer.
AUDUSD Forecast December 5, 2016, Technical Analysis
The AUDUSD pair fell slightly during the session on Friday, but found enough support near the 0.74 level to bounce and test the 0.7450 level again. We found resistance there, as we have in the past, so now it looks very choppy to say the least.
It Is All About OPEC Today
For obvious reasons, all the focus is on the OPEC meeting. As we pointed out the possibility yesterday, oil prices have bounced back very strongly today on renewed hopes that oil ministers will, after all, be able to hammer out a deal later on to limit crude production.
India’s ‘Day Of Rage’
Indian (EPI, quote) opposition parties organize nationwide protests against the government’s ban on two major currency notes.
Oil In Focus As OPEC Meeting Looms Large
After months of uncertainty and speculation you would think there will be some clarity about the crude oil situation just days ahead of Wednesday’s OPEC meeting. Well, you would be wrong. In fact, very wrong.