EURUSD extends the previous day’s pullback from a four-month-old support-turned-resistance as sour sentiment underpins the US Dollar demand early Friday. In doing so, the Euro pair takes clues from the bearish MACD signals while paying little attention to the RSI (14) line suggesting a weak support for the current momentum. With this, the quote appears well set to...
BankNifty Analysis - Stance Bearish⬇️
BN managed to hold on to 47465 levels quite decently. All intraday straddlers would have had a decent day as there were no swings or whipsaws. We opened below the 47465 level but managed to close above it giving some hope to the Bulls.
If we close above 47465 levels on the 18th, I might change my stance from bearish to...
Good macros from European countries make the EURUSD follow a book bullish trend at the same time that Fed is trying to keep up its repo balance sheet and dollar is weakening against major currencies (refer to DXY where it has broken second support). The fact that Iran looks like is going to retaliate any moment from now does not give a positive scenario to markets...
1) Facing resistance at trendline
2) oil prices crossed crucial level of 80$, likely to got to 90-100$
3)Made bearish candle at resistance with high volume
RSI showing divergence which is a sign of breakdown. This fall is due to increase in supply from Libya. In my opinion oil should retrace back from 71$ or from 67$ and make new high in next 3-4 months. WINTER IS COMING!
