USDNOK Forex cross pair reacting to a strong imbalance
USD NOK Forex cross pair (American Dollar versus Norwegian Krone) broke all-time highs after months. USD NOK is trying to recover from its worst drop in a few decades. As explained in a similar technical supply and demand analysis for EUR/NOK at EURNOK recovering from the worst drop in a few decades, we discussed why Norway’s...
USDJPY Forex crosspair analysis today. Buy or sell?
Have you wondered why USDJPY major Forex cross-pair is rallying so strongly? It’s pretty simple. A super strong monthly demand imbalance took control last March 2020, and it’s been rallying ever since. A very similar Forex trading scenario can be seen on EUR USD Forex’s major cross-pair discussed in our blog in previous months. USDJPY...
USDCAD Forex cross pair analysis
USDCAD forex major cross pair hasn’t moved much for a few weeks since a very strong daily imbalance was reached last 27th March 2020. The demand imbalance around 1.3925 has been holding several attacks providing short-term intraday and scalping opportunities for those trading the smaller timeframes using intraday levels and intraday forex strategies. USDCAD scenario...
EURNOK is recovering from the worst drop in a few decades
EURNOK Forex cross pair (Euro versus Norwegian Krone) has broken an all-time high again after months. EURNOK is trying to recover from its worst drop in a few decades. As explained in the previous EURNOK forex cross-pair analysis, we discussed the reasons why Norway’s Krone suffered the worst drop in half a century. Our supply...
USDCNH Forex cross pair price action analysis
The official currency in China is the renminbi, often abbreviated to RMB, while the term Yuan can be used to describe the base unit of the Chinese currency. When trading onshore, it is referred to as CNY, while offshore trading is known as CNH. USD CNH Chinese Yuan offshore forecast This is a quick supply...
Expecting CADJPY forex pair to rally much higher
Over recent years, CAD/JPY currency cross has become very popular and highly correlated with oil price. Canada is the second-largest owner of oil reserves and has benefited from the rise in oil prices. On the other hand, Japan heavily relies on imported oil. Over 99% of Japan’s crude oil is imported, as it has almost no native...
USDCAD forex pair supply and demand analysis
USD/CAD is the forex ticker that represents the US Dollar – Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chat, shows traders how many Canadian Dollars are required to buy one US Dollar. We don’t need to pay attention to fundamental analysis, FOMC or even interest rate releases for the USDCAD...
EURCAD forex cross pair supply and demand analysis
The Euro / Canadian Dollar denotes how many Canadian Dollars are needed to purchase one Euro. Crude oil is one of Canada’s largest exports and tends to be sensitive to fluctuations in crude oil prices and global growth expectations. The Eurozone is the largest monetary union in the world and one of the most popularly...
USDCNH forex analysis and forecast
The official currency in China is the renminbi, often abbreviated to RMB, while the term Yuan can be used to describe the base unit of the Chinese currency. When trading onshore, it is referred to as CNY, while offshore trading is known as CNH. USD CNH Chinese Yuan offshore forecast This supply and demand analysis...
EURUSD forex long-term forecast 2020
A strong monthly imbalance gained control of EURUSD last month at around 1.0654. As explained in previous EURUSD forex cross pair analyses, we had a strong bearish bias, but once a strong imbalance on a big timeframe like the monthly takes control, going short in smaller timeframes is not allowed and is suicidal. Euro Dollar...
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