Amega daily market overview & news alerts

[AmegaFX]

BRENT overview 03.08.2021

Oil falls on fears for Delta spread.

Oil under strong bearish pressure, continuing the yesterday’s losses – as trader focus has now fully shifted to the rapidly spreading Delta coronavirus variant. Concerns over the spread of Delta variant in the United States and China, the top oil consumers, is currently the primary factor affecting oil prices. In China, the spread of the variant from the coast to inland cities has prompted authorities to impose strict measures to bring the outbreak under control. Delta-related concerns will likely keep oil markets volatile over the coming weeks. Furthermore, expectations of a return of Iranian crude to the market are also driving the prices down. Iran's new president, Ebrahim Raisi, said on Tuesday his government would take steps to lift "tyrannical" sanctions imposed by the United States on its energy and banking sectors.

Expect sellers on upward corrections.

Next support to watch – 69,35

 

[AmegaFX]

USDCHF 04.08.2021

Medium-termtrend: Bearish

The bear market is continuing. The price has already reached the target zone №1 0.90500-0.90393 and it has a potential to reach the target zone №2 0.89432-0.89328. The best prices to try to have a short position are the control resistance zone 0.91425-0.91317. 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 0.91425-0.91317 (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 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.

 

[AmegaFX]

NZDUSD overview 04.08.2021

NZDUSD surges on rate hike expectations.

NZDUSD under strong bullish pressure today as the result of the widespread New Zealand dollar bearishness after a drop in unemployment in the country raised expectations rate hikes could begin within weeks. The country's central bank had said on Tuesday it would soon begin consulting on ways to tighten mortgage lending standards, as it tries to control an inflated housing market – which removed any doubt that the central bank will soon start raining the interest rates. The pair is also driven up by moderate USD bearishness as the investors are awaiting the publication of the ADP employment survey, ahead of Friday's labour market report.

Expect buyers on downward corrections.

Next resistance to watch – 0.710313

 

[AmegaFX]

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.

 

[AmegaFX]

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

 

[AmegaFX]

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.

 

[AmegaFX]

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

 

[AmegaFX]

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.

 

[AmegaFX]

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

 

[AmegaFX]

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.