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Suri Duddella, 19+ years full-time Futures/Equities/Options Trader. Patterns based Algorithmic Trading. Author -- "Trade Chart Patterns Like The Pros" book...
Weekly digest compiles the latest news from the world of stocks and finance, currency forecasts, as well as interesting informative articles for traders. Top news of the week: OPEC leaves oil production unchanged. Winners and losers...
The overwhelming majority of market attention on Thursday was directed on the OPEC meeting, where a decision was made not to cut Oil production...
Canada’s 3Q Gross Domestic Product (GDP) report may generate a near-term bounce in USD/CAD as the growth rate is expected to increase an annualized 2.1% following the 3.1% expansion during the three-months through June...
The US Dollar may have begun a significant downward reversal against its Canadian counterpart after prices overcome support guiding the uptrend since September. A daily close below channel support at 1.1167 exposes the 1.1116-42 area marked by a rising trend line set from July and the 38...
A further slowdown in the Euro-Zone’s Consumer Price Index (CPI) may heighten the bearish sentiment surrounding the EUR/USD as it puts increased pressure on the European Central Bank (ECB) to implement more non-standard measures...
AUD/USD’s small rebound has produced a Dragonfly Doji on the daily which is threatening to evolve into a bullish Morning Star formation. The close of the current candle above 0.8450 and an ensuing up-session would be required to confirm the pattern and open the prospect of further gains...
As the double top and double bottom are signs that a financial instrument has failed to break through a certain level (resistance for a double top and support for a double bottom) these chart patterns are considered reversal patterns...
A Head and Shoulders pattern is defined by one peak, followed by a higher peak, which is then followed by a lower peak, and finally a break below the support level established by the two troughs formed by the pattern...
H4 price is located below Ichimoku cloud/kumo for bearish market condition. Kumo is very thin one and the borders of the cloud are not strong enough to be considered as support/resistance levels for this timeframe now...
A double top is a reversal chart pattern which is defined by a chart where a financial instrument makes a run up to a particular level, then drops back from that level, then makes a second run at that level, and then finally drops back off again...
In a session that promises thinner volumes for the closure of the square the US, on the occasion of Thanksgiving, the dollar sold more gains than the peak marked Monday against a basket of currencies. The dollar fell to 117.28 yen, down from a maximum of seven years marked last week...
Double bottom is a price actions where buyers and sellers become equal and new trend suppossed to be initialted in upside after confirming the breakout after upper resistance the targets are fixed the distnace between rough and tough h0 ,the target Tp1=h1=h0 and target Tp2 is fixed same above tar...
Both Brent and Crude Oil extended to new milestone lows overnight, with optimism continuing to fade that the OPEC decision later today will support a cut in production. Overnight, Brent declined to $76.30 while Crude dropped to $72.58...
Brent and West Texas Intermediate extended declines from the lowest price in more than four years amid speculation that OPEC will refrain from cutting output when ministers meet in Vienna today...
If you are in the United States then Happy Thanksgiving. For the rest of us we will be thankful when liquidity returns next week. I’ve managed to eek out a few percent last night and this morning but the markets are very quiet with likely two exceptions, Oil and USDRUB...
In a session that promises thinner volumes for the closure of the square the US, on the occasion of Thanksgiving, the dollar sold more gains than the peak marked Monday against a basket of currencies. The dollar fell to 117.28 yen, down from a maximum of seven years marked last week...
US DOLLAR TECHNICAL ANALYSIS Prices continue to push higher, advancing to set a new five-year high. A daily close above the 38.2% Fibonacci expansion at 11374 exposes the 50% level at 11422...
According to Citigroup Inc., the initiative requiring the Swiss National Bank to hold a fixed portion of its assets in gold makes no sense, as the metal was the equivalent of the cryptocurrency bitcoin...
