Brent oil buyers take a breather after posting the biggest daily jump in six months as the overbought RSI (14) line prods the energy bulls below a three-week-old horizontal resistance surrounding $92.50. However, a clear upside break of the 200-SMA and bullish MACD signals suggest further upside of the black gold price. Hence, the quote is likely to cross the...
USDJPY began the trading week on a back foot within a two-month-old rising wedge bearish chart formation. That said, the Yen pair snapped a four-week uptrend in the last but failed to confirm the rising wedge, neither it could break the 200-SMA support. However, the RSI conditions and the MACD conditions join the quote’s failure to cross the 50-SMA immediate...
USDCAD remains pressured for the third consecutive day after reversing from a 6.5-month high marked last week. In doing so, the Loonie pair struggles to justify the recent run-up of the US Dollar, mainly due to the risk-off mood, as Canada’s main export item, namely WTI crude oil, jumps 4.0% on geopolitical fears surrounding the Israel war. Apart from the strength...