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The US dollar has rallied again during the trading session on Monday against the Brazilian real, as we continue to see a lot of concerns around the world affecting emerging market currency such as this one. All things being equal, this is a market that I think will continue to see a lot of upward pressure, and I think at this point in time it does make a certain amount of sense that short-term pullbacks will continue to be buying opportunities. Technical Analysis AC several support levels that are excellent buying opportunities if you do in fact get the opportunity. Keep in mind that this is a pair that will be extraordinarily volatile at times because it is somewhat thinly traded during certain times of the day. That being said, I believe that the 5.30 level has now offered itself a bit of support, as it previously had been resistance. With that being the case, I like the idea of buying dips in bits and pieces and taking advantage of value any time, it shows up. After all, the US doll...

EUR/USD Forex Signal: Found Support at $1.0758 EURUSD was not triggered, as there was no bullish price action when the support level at $1.0863 was first reached. Today’s EUR/USD Signals Risk 0.75%. Trades may only be taken prior to 5pm London time today. Short Trade Ideas Short entry following a bearish price action reversal on the H1 timeframe immediately upon the next touch of $1.0784, $1.0834, or $1.0856. Place the stop loss 1 pip above the local swing high. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reaches 20 pips in profit and leave the remainder of the position to ride. Long Trade Ideas Long entry following a bullish price action reversal on the H1 timeframe immediately upon the next touch of $1.0758, $1.0722, or $1.0709. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Remove 50% of the position as profit when the price reache...

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...

After nosediving to 1.2401 level in the previous trading session, Sterling found some support in the early Asian hours on Friday, courtesy to the release of better than expected UK macro data. The GfK Consumer Confidence statistics came at -30 vs -36 forecasted. As of now, the cable is trading marginally higher by 0.04% at 1.2432. On Thursday, the pair came under intense selling pressure and registered a massive plunge of 165 pips. This was after the BOE intensified its response to counter the slowdown from the COVID-19 by announcing a 100 billion pound increase in its bond-buying program, while keeping its benchmark interest rates at 0.1%. Further, the BOE Governor, Andrew Bailey stated that the unemployment in Britain remains elevated, despite good rebound in the economy after ease in the lockdown restrictions. Besides, the greenback continued to attract the safe-haven bids as increasing concerns of the second wave of coronavirus across the globe, had directed investors to pr...

Crude oil tumbles by 1.08% and is trading at $37.65 per barrel in the Asian session of Wednesday. The weakness in crude is in response to the rise in US Crude inventories that brings back oversupply concerns among investors. The industry backed API reported a jump in US Crude inventories by 3.9 million barrels to 543.2 million barrels for the week that ended on June 12. The data came much higher than the market expectations of 157,000 barrels, which spurred another dip in crude prices. Meanwhile, fears of coronavirus continues to take toll on investors’ sentiment after Beijing announced that it will shut down schools and will impose travel restrictions because of the risk of second wave of Covid-19. The resurgence of cases weighed on oil prices and could jeopardize the recovery rally in oil which was seen in last two months. Talking about previous session, crude oil oscillated and managed to settle higher by 2.17% at $38.10 per barrel as investors’ sentiments remain buoyed amid ...