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USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 64.35 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO reversed from resistance, potential drop! USDBRO reversed off its resistance at 65.62 where it could potentially drop further to 62.82. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROShort
by Pepperstone
USDBRO approaching support, potential for a bounce! USDBRO is expected to drop to 1st support at 62.82 where it could potentially react off and up to 1st resistance at 65.62. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
Middle East Force Will Bring More Oil Market SpeculatorsPrimeXBT will now be offering a technical and fundamental analysis overview of USD/BRO . Fundamental Analysis and News: Oil had its wildest day since the Saudi Arabia attacks last year. After spiking aggressively as news of Iran’s missile attack hit the news wires, oil gave back all of those gains to finish much lower on the day. Brent is very close to daily support regions. The news from the Energy Information Administration that U.S. crude supplies edged up by 1.2 million barrels for the week ended Jan. 3, hit prices hard as this had followed declines in each of the previous three weeks. Analysts had expected to report a drop of about 3.6 million barrels. Energy companies in the region may need to take on more debt if oil prices keep falling, said Rory Fyfe, chief economist at U.K.-based MENA Advisors. Benchmark Brent crude slid about 10% last year to an average of about $ 64 a barrel, and growth in oil demand shows signs of faltering. Access to cheap financing could also stimulate borrowing. “Gulf issuers are very opportunistic, and if we see lower global rates, we could see oil companies coming back to the market,” he said. Technical Analysis: In the near term, the price will likely target the support zone. Once its price reaches this zone, a rejection could cause it to rise until it reaches its first resistance zone, which could spark a bounce. A clear close above the key resistance zone could offer new entries for high-return gains in the near term. The next major hurdle is near the $75.5 level. Day's Range: $64.58 — 66.08 Support Zone: $59.8 — 62.5 Resistance Zone: $69.65 — 70.7 Resistance Target Levels: $75.50, 80.05, 86.05 Please, let us know what you think about USD/BRO in the comment section below. We appreciate the continued support that PrimeXBT has received from readers and traders like you, and hope you have great success with all your future trades!
FX_IDC:USDBRO
by UnknownUnicorn3931771
2
USDBRO to climb from upside confirmation, potential bounce! USDBRO to climb from its upside confirmation at 65.60 where it could potentially bounce further to 68.00. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
The forecast. Commodities1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a long time already, so the correction if overdue. Rising to 99.66 before correcting to 92 – invalidates the idea. 2. The correction not expected to penetrate the upward trend line, i.e. 90-92 is the target. Then the final 5th wave of USD up-trend will start, to last through 2022-23 and eventual increase USD value on 20-25%. US if the only developed country with positive real interest rate what cause the rise of USD. But by 2023 problems in US (falling stock market, falling GDP, rising internal and external obligations) will result in reverse and following USD collapse. Invalidation level - 84.50 3. Stock market will complete 3rd wave of the very last 5th by summer 2020, possibly at $3,400-$3,500 level. Then correction will ignite on US election uncertainty. After election a final 5th of 5th will start, to make a double-top, false breakout in 2021 (double-top was in 2000 and 2007) 4. Commodities are in uptrend already. GSCI will rise ~50%, while oil will make ~80% up. Most likely pure speculation will cause the trend in commodities as no much investment alternatives exist – stocks and bonds are too expensive. The uptrend in commodities will outlive stock market trend what is typical at the end of economic cycle. Invalidation levels: GSCI – 392, Brent Oil – $57 5. Rise in commodities will cause inflation, what eventually will force FED to raise the rates. Rising rates will kill the stock market in 2021, which only supported by buybacks and free money. Apparently does not make sense to print money and raise rates the same time, so free money supply should not be expected to last indefinitely. 6. Gold is rising (even after wild Friday drop I do not expect it to go significantly lower) with target ~$1,580 to complete 5th wave. This upward move is in harmony with USD correction. Should complete by April 2020. Invalidation level $1,360 7. Then a 5-wave correction down to ~$1,050 level will start to complete large-scale correction started in 2011. This one will be in sync with USD rise. DXY USD OIL BRENTCRUDEOIL GOLD SPY SPX500 COMMODITIES GSCI
CME:GD1!Long
by Kupitman
The forecast. DXY1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a long time already, so the correction if overdue. Rising to 99.66 before correcting to 92 – invalidates the idea. 2. The correction not expected to penetrate the upward trend line, i.e. 90-92 is the target. Then the final 5th wave of USD up-trend will start, to last through 2022-23 and eventual increase USD value on 20-25%. US if the only developed country with positive real interest rate what cause the rise of USD. But by 2023 problems in US (falling stock market, falling GDP, rising internal and external obligations) will result in reverse and following USD collapse. Invalidation level - 84.50 3. Stock market will complete 3rd wave of the very last 5th by summer 2020, possibly at $3,400-$3,500 level. Then correction will ignite on US election uncertainty. After election a final 5th of 5th will start, to make a double-top, false breakout in 2021 (double-top was in 2000 and 2007) 4. Commodities are in uptrend already. GSCI will rise ~50%, while oil will make ~80% up. Most likely pure speculation will cause the trend in commodities as no much investment alternatives exist – stocks and bonds are too expensive. The uptrend in commodities will outlive stock market trend what is typical at the end of economic cycle. Invalidation levels: GSCI – 392, Brent Oil – $57 5. Rise in commodities will cause inflation, what eventually will force FED to raise the rates. Rising rates will kill the stock market in 2021, which only supported by buybacks and free money. Apparently does not make sense to print money and raise rates the same time, so free money supply should not be expected to last indefinitely. 6. Gold is rising (even after wild Friday drop I do not expect it to go significantly lower) with target ~$1,580 to complete 5th wave. This upward move is in harmony with USD correction. Should complete by April 2020. Invalidation level $1,360 7. Then a 5-wave correction down to ~$1,050 level will start to complete large-scale correction started in 2011. This one will be in sync with USD rise.
TVC:DXYShort
by Kupitman
USDBRO bounced from support, potential for a further rise! USDBRO bounced off 60.70 where it could potentially rise further to 64.80. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO bounced from support, potential for a further rise! USDBRO bounced off 62.30 where it could potentially rise further to 64.80. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone
USDBRO bounced from support, potential for a further rise! USDBRO bounced off 62.20 where it could potentially rise further to 64.80. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
FX_IDC:USDBROLong
by Pepperstone