The USD/JPY pair is trading below its downward trend line on a 4 hour time frame. This confirm that the trend is towards the downside, however it is important to pay attention that the price is constantly challenging this downward trend line which reflects that the odds are that we could be breaking this very soon.
Read MoreThe GBP/USD pair is trading below its downward trend line on a 4 hour time frame. This confirms that the trend is skewed towards the downside.
Read MoreCrude oil bounced from its low due to the excessive sell off which took place on the back of Iran news. The cold weather over in the US has also helped the price to move higher, however, it is easing off from its recent high of 32.65.
Read MoreThe EUR/USD has formed a symmetrical triangle pattern on a 4 hour time frame. Although, it looks like very much symmetrical triangle pattern but the angle of this triangle is more skewed towards the upside, therefore the odds are stacked that it could break towards the upside.
Read MoreThe USD/JPY pair has broken its downward trend line on a 4 hour time frame. This confirms that the downward trend is no longer in play. As long as the price stays above this trend line t, the bias remains towards the upside. In terms of volatility the price is trading within the Bollinger band, which confirms that the volatility is low and it is trading close enough to its 20 day moving average.
Read MoreThe persistent downward trend for industrial base metal is still in play and the downward skew is very much dependent on the stagnant growth in China. For traders, tomorrow’s Chinese Q4 GDP data has significant importance as this will precept rest of the week’s trading pattern.
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