Amega daily market overview & news alerts

[Amega]

USDCAD 05.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.24559-1.24388 and it has a potential to reach the target zone №2 1.22875-1.22710. The best prices to try to have a short position are the control resistance zone 1.26115-1.25940. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.26115-1.25940 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

BRENT overview 05.08.2021

Oil rises on Middle East tensions.

Oil rising today – against the previous sharp downward price impulse – under the effect of the rising Middle East tensions after Israeli jets struck rocket launch sites in Lebanon early on Thursday in response to two rockets fired towards Israel from Lebanese territory, in an escalation of cross-border hostilities amid heightened tensions with Iran. The exchange came after an attack on a tanker off the coast of Oman last Thursday, which Israel blamed on Iran. Iran denied any involvement. Asked if Israel was prepared to strike Iran, Israeli Defence Minister Benny Gantz told YNet news on Thursday "yes." This is countering the earlier optimism about the return of Iranian oil to the global oil markets and weaking oil bears.

Expect buyers on downward corrections.

Next resistance to watch – 70,93

 

[Amega]

NZDUSD 06.08.2021

Medium-termtrend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.70793-0.70698 and it is going to the target zone №2 0.71743-0.71648. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.69923-0.69828. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.69923-0.69828 (105 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

EURUSD overview 06.08.2021

EURUSD falls after strong U.S. payrolls.

EURUSD under strong bearish pressure today – on widespread US dollar bullish sentiment - after the Labor Department’s jobs report showed the U.S. economy added 943,000 jobs in July - much higher than economists’ expectation of 870,000. In addition to this, wage growth accelerated to 4% YoY, also beating the estimates. This trigged the massive dollar buying across all of the linked currency pairs. The pair is also driven down by moderate euro bearishness on reports of delta hotspots forming across the Eurozone. Euro sentiment was also hurt when it was reported that seven residents of a nursing home in Belgium have died after being infected with the Colombian variant of the coronavirus, despite being fully vaccinated.

Expect sellers on upward corrections.

Next support to watch – 1.1754

 

[Amega]

BRENT 09.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 70.521-70.271 and it has a potential to reach the target zone №2 68.021-67.771. The best prices to try to have a short position are the control resistance zone 71.688-71.438. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 71.688-71.438 (275 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GOLD overview 09.08.2021

Gold slammed on stronger dollar.

Gold fell sharply today – dropping as much as 4.4% at one point on Monday, as the dollar rallied after strong U.S. labour data raised expectations for early tapering of economic support. Gold started to fall strongly after U.S. Labor Department data showed employers hired the most workers in nearly a year in July and continued to raise wages. This made the markets price in sooner than the expected rate hike by the fed. An interest rate hike by the Fed would also dull non-yielding bullion’s appeal compared with interest-earning assets. The dollar’s spike to a two-week high also hurt appetite for gold by making it more expensive for holders of other currencies .

Expect sellers on upward corrections.

Next support to watch – 1685,0

 

[Amega]

AUDUSD 10.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.73465-0.74385 and it has a potential to reach the target zone №2 0.72665-0.72585. The best prices to try to have a short position are the control resistance zone 0.74038-0.73958. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 0.74038-0.73958 (90 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

BRENT overview 10.08.2021

Oil rises as markets shift focus from virus impact.

Oil rising today – recouping some of the losses from the previous session, as rise of demand in Europe and the United States outweighed concerns over a rise of COVID cases in Asian countries. In the United States, the Senate is set to vote on the passage of a $1 trillion infrastructure bill later on Tuesday, which, if passed would boost the economy and demand for oil products. Successful vaccination programmes in the West and encouraging economic data come in sharp contrast to the rising infection in the East – leading the markets to overlook the virus reports from the region. Moreover, the lockdowns and mass testing in China, the world’s top crude oil importer, are expected to be successful in stopping the spread of the virus and should lead to the resumption of oil demand – emboldening oil bulls.

Expect buyers on downward corrections.

Next resistance to watch – 72.20

 

[Amega]

USDCHF 11.08.2021

Medium-termtrend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.92495-0.92384 and it is going to the target zone №2 0.93638-0.93525. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.91230-0.91122. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.91230-0.91122 (120 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GOLD overview 11.08.2021

Gold rises on surging virus cases.

Gold under the bullish pressure today – as concerns over the economic impact of the Delta coronavirus variant led to the widespread safe-haven bullion buying. The on-going battle with the virus hotspots forming across China, Europe and also the Middle Eastern countries is adding to the safe-haven demand for the Gold – allowing it to reverse some of its earlier sharp losses. While there are signs of stabilisation in the gold market, tensions surrounding the economic impact of new virus infections are providing significant support to the process and are expected to continue to provide the support – until the herd immunity starts to form across the globe.

Expect buyers on downward corrections.

Next resistance to watch – 1763,00

 

[Amega]

USDCAD 12.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.24559-1.24388 and it has a potential to reach the target zone №2 1.22875-1.22710. The best prices to try to have a short position are the control resistance zone 1.26115-1.25940. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.26115-1.25940 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

AUDUSD 12.08.2021

AUDUSD falls on risk-off sentiment.

AUDUSD under the bearish pressure today – under the effect of the significant Australian dollar bearishness and mild USD bullishness as the markets are currently in the risk-off mode. The risk off sentiment took hold as more countries have started reporting the local surges in the Delta variant cases – particularly China – which is, being the top trade partner of Australia, is showing the daily increase of the Covid-19 cases. As the result, the Australian dollar is sold as the result of the worsening covid situation in China. The pair is also driven down by mild USD bullishness after weekly Labor Department figures showed the number of Americans filing claims for unemployment benefits fell last week – which is a sign that the economic recovery from the COVID-19 pandemic continues to gather momentum in USA.

Expect sellers on upward corrections.

Next support to watch – 0,7320

 

[Amega]

NZDUSD 13.08.2021

Medium-termtrend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.70793-0.70698 and it is going to the target zone №2 0.71743-0.71648. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.69923-0.69828. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.69923-0.69828 (105 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

GOLD overview 13.08.2021

Gold rises on safe-haven inflows.

Gold continues to rise today – largely under the effect of the safe-haven demand from the investors worried about the continued spread of the virus across Asia. Asian markets were subdued today, pressured by the fallout from rising Delta coronavirus variant cases in several countries in the region. The on-going COVID disruption over Asian and the global economies means it is more likely that central banks will continue to provide stimulus, which ultimately leads to higher inflation and higher gold prices in the long term (with the gold serving as the hedge against the rising inflation). The markets will be looking at Michigan Consumer Sentiment Index later today for clues on the direction of gold prices.

Expect sellers on upward corrections.

Next resistance to watch – 1765,00

 

[Amega]

EURUSD 16.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 1.17326-1.17238 and it has a potential to reach the target zone №2 1.16446-1.16358. The best prices to try to have a short position are the control resistance zone 1.18027-1.17939. In case of the price is fixed upper the control resistance zone the medium-term trend will be changed to the bull market and all short positions should be closed.

Trading recommendation:

It’s recommended to try to have a short position near the control resistance zone 1.18027-1.17939 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current minimum. If this minimum changes by n points the zone should also be shifted n points down. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

Will Retail sales boost the US Dollar? Or will it be a push for the Gold? Follow up on the upcoming announcement.

 

[Amega]

BRENT overview 16.08.2021

Oil falls in weaker projected demand from China.

Oil under the bearish pressure today – falling more than 1%, after official report showed that refining throughput and economic activity slowed in China, which is seen by the markets as the indicator that fresh COVID-19 outbreaks are crimping the world’s second largest economy. Factory output and retail sales growth slowed sharply in July in China missing expectations as fresh outbreaks of COVID-19 and flooding disrupted business activity. Weaker-than-expected growth data from China, which is a major consumer of oil, and the resultant lowered demand expectations, is the main driver of the recent losses for oil. China’s crude oil processing last month also fell to the lowest on a daily basis since May 2020, as independent refiners cut production amid tighter quotas, elevated inventories and falling profits.

Expect sellers on upward corrections.

Next support to watch – 67,4

 

[Amega]

GBPUSD 17.08.2021

Medium-termtrend: Bullish

The bull market is continuing. The price has already reached the target zone №1 1.39330-1.39158 and it is going to the target zone №2 1.41050-1.40878. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 1.38111-1.37939. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 1.38111-1.37939 (190 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.

The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.

All zones are constructed on the basis of data from the CME futures market.

 

[Amega]

Watch out for the upcoming New Zealand Interest Rate Decision announcement and how could it affect NZDUSD pair.

 

[Amega]

NZDUSD overview 17.08.2021

NZDUSD crushes on new covid-19 cases.

NZDUSD falling strongly today under the effect of the powerful bearish new Zeeland dollar sentiment – as the markets are reacting to the latest report showing that the country identified its first COVID-19 case since February, prompting the government to announce new short-term lockdown measures. NZD fell sharply as the result, extending losses around 0630 GMT when Prime Minister Jacinda Arden said that Auckland – where the case was reported – would go into lockdown for seven days, while New Zealand as a whole will have the toughest level of lockdown for three days. This is hurting the prospects of the imminent rate hike announced earlier by the central bank. The pair is also driven down by moderate USD bullishness on risk-averse sentiment as Asian shares were rattled by concerns about China’s plans to regulate the internet sector.

Expect sellers on upward corrections.

Next support to watch – 0.6881