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The NZD/USD has had another solid spurt of upwards momentum develop in the past half day and sustained values near important mid-term resistance marks. The NZD/USD stumbled in early trading yesterday and touched the 0.61560 vicinity, but the move lower actually did not test Monday’s lows. And importantly the support level touched yesterday remained within sight of Friday’s highs. After touching yesterday’s low, the NZD/USD actually began to generate buying momentum. Economic data from the U.S continues to come in below expectations as signs appear to be growing the American economy is slowing. As of this writing the NZD/USD is near the 0.61818 ratio and this is noteworthy because the currency pair is within sight of yesterday’s highs which were achieved before the downturn. Support and resistance levels short-term are playing the usual cat and mouse game of give and take, but traders who look at a week’s, one month and even a three month chart can see a verifiable trend upwards that ha...

WTI Crude Oil saw the 80.000 USD level penetrated upwards on Wednesday of last week, only to falter and then begin a rather steady push lower. The price of WTI Crude Oil this week will begin trading near the 77.120 mark, this after touching a depth around the 76.640 ratio this past Friday. The ability to trade downwards and come within sight of values seen the previous Friday while testing mid-terms lows could prove to be significant. However, before traders rush into to say the dominant trend is downwards, they should acknowledge that a run higher early last week in WTI Crude Oil achieved a high of nearly 80.590 on Wednesday. The incremental move higher starting last week only to run into headwinds after month long resistance was tested is noteworthy. Also of importance is that OPEC will be conducting a meeting today to discuss pricing and production. WTI Crude Oil’s ability to move back to mid-term lows before the oil conference will spark intrigue and concerns in the minds of specul...

EUR/USD: Weekly Forecast 16th April - 22th April The EUR/USD went into the weekend within sight of its highs attained early on Friday, and continues to find speculative buying persists with the currency pair. The EUR/USD will start the week near the 1.09930 mark, which is a price that has last seen sustained values in March and April of 2022. Yes, the EUR/USD did trade above the 1.10000 level briefly in early February of this year, and this past Friday the currency pair did trade near a high of 1.10800 before faltering. However, sustained prices near these levels have not been accomplished for over a year and speculators who believe the EUR/USD can go higher are certainly looking at their long-term charts to gain perspectives. EUR/USD Battling Highs is a Solid Trend but Concerns Abound The ability to climb over 1.10000 on Friday and move even higher was significant. However, traders need to remain realistic, if the reversal lower didn’t cause concern then it should be remembered th...

Crude oil prices extend its previous session gains as bulls take control on cooling down of oversupply fears among investors after a successful OPEC meeting on Thursday. The meeting ended with a promise to hold on existing cuts by countries like Iraq and Kazakhstan for the additional period of three months. Both countries will now compensate for their overproduction in May, by drawing extra barrel out of market, even if other OPEC producers do not extend record production cuts. In addition, the meeting offsets the supply concern of rising inventories and provided a modest lift to crude prices. As of this moment, US WTI is trading 1.05% higher at $39.33 per barrel, while Brent crude is trading 1.06% higher at $41.78 per barrel. Meanwhile, crude oil is poised to register weekly gains as it is trading 7.63% higher, after registering losses in previous week. Talking about the previous session, crude oil ended near day’s high at $38.92 per barrel, with gains of 2.72% after investors ...