Daily reviews

News of the day, Thursday, June 2

The USD hit a three-week high against the yen today, supported by advances in U.S. Treasury yields which have been holding near a two-week peak recently. The dollar index edged 102.25.

OPEC+ sources say Russian oil output has decreased by around 1 million …

The currency pair is traded inside the lower border span of the descendant price channel. The descendant wave structure is truncated, and Awesome Oscillator indicates bullish divergence.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure. …

News of the day, Wednesday, June 1

European stocks increased today despite worries about the region’s economic growth concerns. The DAX of Germany traded 0.6% higher, the CAC 40 in France increased by 0.4%, and the U.K.’s FTSE 100 edged 0.2%.

The USD edged higher today driven by the Treasury …

Gold succeeded in breaking the support level of 1845.00 and reached the next target at the value of 1835.00, thus opening the way for more decline and an attempt to reach the next target at the level of 1827.20. Thus, gold ends the sideways path that it has been moving …

The pound against the dollar continues to move sideways around the support level 1.2590, as it tried yesterday to breach it but failed to do so, to continue moving around this level. This is under pressure from the moving averages that form the initial borders of the price movement, as …

The euro against the dollar is stabilizing near the broken support level 1.0750, after yesterday it reached the support 1.0690, and it rebounded again to the upside.

The moving averages form a limit to the price movement, as the 50 average formed a support level and stopped the decline that …

#CL

The ascendant wave structure is truncated. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the descendant wave structure forms, where the wave (A) breaches through the inclined channel of the ascendant truncated structure.

Stop-loss: 79.33.

Target levels: 76.35; 74.00.

The general trend is descendant. The ascendant truncated wave structure has finished breaching the inclined channel. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when the 1.7230 level is breached.

Stop-loss: 1.7358.

Target levels: 1.7138; 1.7000.

News of the day, Tuesday, May 31

European stocks decreased as the key eurozone inflation data is to be published soon, which could increase concerns about possible interest rate hikes. The DAX in Germany traded 0.7% lower, the CAC 40 of France dipped 0,9%, while the FTSE 100 of the …

Gold continues the sideways movement in a narrow range between the resistance 1860.00 and the support 1845.00 for the second day, where there was no change in the movement. Let's remain neutral in determining the general course of the movement, since the price is moving near an important support level, …