So What Happened? On Friday, the Japanese Nikkei soared by 0.8% while the Yen remained relatively stable against the U.S. dollar with a marginal in-crease by just 0.2%. Hong Kong’s Hang Seng Index moved upwards by 1.4% and erased its previous two days’ losses. While Australia’s ASX 200 did not manage to erase the previous day’s losses but ended […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
Recently, EUR/NZD has been moving upwards. As I expected, the pair tested the level of 1.6709 in a high volume. Anyway, I found supply in a high volume today and it seems like that sellers are in control. Be careful when buying and watch for selling opportunities. I placed Fibonacci retracement and got Fibonacci retracement […]
Overview: The NZD/USD pair continues to move around the spot of 0.6711. Today, the first support level is currently seen at 0.6711. The NZD/USD pair movement was debatable as it took place in a narrow sideways channel for a while. Furthermore, the price has been set above the strong support at the level of 0.6711, […]
Since our previous analysis, gold has been trading downward. The price tested the level of $1,240.87 in a high volume. According to the 15M time frame, I found strong downward momentum and I found no demand bars. Buying Gold at this stage looks very risky. The support at the price of $1,243.00 has been taken […]
Overview: As expected the USD/CHF pair continues to move upwards from the level of 0.9866. Yesterday, the pair rose from the level of 0.9866 to the top around 0.9922. Today, the first resistance level is seen at 0.9967 followed by 1.0014, while daily support 1 is seen at 0.9866. Currently, the price is in a […]
Global macro overview for 24/05/2016: Bank of England Governor Mark Carney recent speech regarding the Brexit scenario turned out to be positive for the pound in the short term. As Carney said, all MPCs and FPCs share the view on potential impact of Brexit and it is still the largest domestic risk for the British […]
Does the Memorial Day holiday signal any unusual U.S. stock market return effects? By its definition, this holiday brings with it any effects from three-day weekends and sometimes the turn of the month. Prior to 1971, the U.S. celebrated Memorial Day on May 30. Effective in 1971, Memorial Day became the last Monday in May. […]
Aussie Still Trending Lower Morning Report: 06.30 London • Despite a few attempted recoveries in recent weeks, the trend seems firmly set against the Australian dollar with further downside this morning. This follows a Dovish interpretation of RBA Governor Stevens’ speech this morning. The New Zealand dollar is lower. […]
Elbit System on Tuesday said it has won European contracts worth $40 million for advanced tactical communications systems supply. The contracts will be carried out over one year. The Israeli defense firm said the systems allow voice, data and video communications, enabling better situational awareness and interoperability between combat vehicles and dismounted soldiers. The material […]
Newmont Mining’s local unit in Indonesia has been granted six months export extension by the country’s mining ministry, an official on Tuesday said. Newmont, a U.S. copper and gold miner, will be allowed to export “around 400,000” tonnes of copper concentrate from its mine in eastern Indonesia, Coal and Minerals Director General Bambang Gatot said. […]
Germany’s economic progression ascended, bolstered by vigorous local demand especially in the construction side. Destatis said the gross domestic product surged to 0.7% in the first quarter from 0.3% in the last quarter. Equipment and machinery investments climbed 1.9%, while construction investment rose 2.3%. Government consummation added 0.5% from the last quarter, while household consumption […]
The Japanese government has no plans to devalue the yen in order to bolster exports, denouncing stipulations the country is mulling over the idea. Finance Minister Taro Aso, addressing parliament members, has reiterated the administration’s stance on the matter, saying they won’t jeopardize the currency just to amplify the nation’s competitiveness. As of late, the […]
Gold price continues to trade in a bearish trend and is expected to move towards $1,230 before a bigger bounce. Overall I believe a big correction has started that will bring price towards $1,170-90. Black line – resistance trend line Blue lines – bearish channel Gold price is trading below the Kumo (cloud) and inside […]
Technical outlook and chart setups: Silver is also seen to be trading lower at $16.28 level at this moment, and it is expected to find support at $16.00 level. Please note that fibonacci 0.618 support is also at $16.00 level and a bullish turn from there remains high probability. It is hence recommended to initiate […]
Global macro overview for 24/05/2016: In his recent speech, the Reserve Bank of Australia’s outgoing Governor Glenn Stevens, has been defending the RBA inflation target projections despite the overwhelmingly low inflation levels around the globe. As he said, the inflation can not be controlled in the very short term as the results are getting more […]
Technical outlook and chart setups: Gold is seen to be trading lower at $1,245.00/46.00 levels for now, just below the trend line support as depicted here. Please note that the metal is still holding fibonacci 0.618 support zone and hence high probability still remains for a bullish turn around from here. The metal could probably […]
USD/JPY is expected to continue its downside movement. Overnight U.S. indexes dipped in light trading volume, dragged by utilities shares. The Dow Jones Industrial Average edged down 8 points to 17492, the S&P 500 declined 4 points to 2048, and the Nasdaq Composite lost 3 points to 4765. U.S. Federal Reserve officials continued to offer […]
The Dollar index is showing signs of a short-term top but sellers are yet not strong enough to push price below 95. Only then we will have a reversal confirmation. Blue lines -bullish channel Price has broken out of the bullish channel and a pull back is now expected. Price is above the Kumo (cloud) […]
Good morning!Topps Tiles (LON:TPT)Share price: 136.4p (up 3.9% today)No. shares: 193.1mMarket cap: £263.4mInterim results, 26 wks to 2 Apr 2016 – the numbers look solid. Here are the KPIs, with my comments on the highlighted items below:Note that total sales growth of 3.8% in H1 is actually lower than the LFL sales growth of 4.7%. […]
Good morning!Topps Tiles (LON:TPT)Share price: 136.4p (up 3.9% today)No. shares: 193.1mMarket cap: £263.4mInterim results, 26 wks to 2 Apr 2016 – the numbers look solid. Here are the KPIs, with my comments on the highlighted items below:Note that total sales growth of 3.8% in H1 is actually lower than the LFL sales growth of 4.7%. […]
Good morning!Topps Tiles (LON:TPT)Share price: 136.4p (up 3.9% today)No. shares: 193.1mMarket cap: £263.4mInterim results, 26 wks to 2 Apr 2016 – the numbers look solid. Here are the KPIs, with my comments on the highlighted items below:Note that total sales growth of 3.8% in H1 is actually lower than the LFL sales growth of 4.7%. […]
Despite a very thin calendar, the market was relatively volatile yesterday, and in favor of the USD. Catalyst for the strength in the Dollar was the evident support from FOMC members in favor for a rate hike sooner than the market expected. On the data front, German ZEW economic sentiment will be the main focus […]
USD/CHF is expected to trade with a bullish bias. The pair failed to break its nearest resistance at 0.9925 yesterday and is currently posting some consolidations. Even though a continuation of the consolidation in the current stage cannot be ruled out, its extent should be limited. As long as 0.9860 is not broken, look for […]
NZD/USD is expected to trade in a lower range as a bias remain bullish. The pair has struck against its key resistance at 0.6670 yesterday, and is turning down. At the same time, the relative strength index is below its neutrality area at 50 and is calling for caution. In conclusion, as long as 0.6670 […]
Technical outlook and chart setups: The EUR/JPY pair is trading at intraday lows at 122.50 level at this moment, and should be setting up for a continued drop lower below 121.40 level going forward. The pair had reversed from fibonacci 0.618 levels earlier at 124.50/60 levels as depicted here, and is expected to remain in […]
GBP/JPY is under pressure. Currently trading at 159.55, the pair has been capped by its descending 20-period moving average and remains under pressure. And the declining 50-period moving average also maintains a bearish bias. As long as 159.55 is not broken above, the pair is expected to test 157.45 in the coming days. Trading Recommendations: […]
Technical outlook and chart setups: The GBP/CHF pair is seen to be trading at 1.4350/55 levels at this moment, looking to push higher towards 1.4700/10 levels. Please note that 1.4700/10 level is also the fibonacci 0.618 resistance level of the entire drop from 1.5570 through 1.3400 respectively. A bearish reaction should be expected at those […]
Wave summary: With a low seen at 1.6434 followed by a strong rally above the resistance-line near 1.6590 red wave [ii] clearly is over and red wave [iii] higher towards 1.6988 and likely even higher to 1.7273 is expected. Short term, support is now seen at 1.6640 with back-up support seen at 1.6603, but we […]
Wave summary: We have seen the expected decline towards the ideal 122.12 target for wave [ii] from where a new strong rally higher to above 124.05 and more importantly above resistance at 124.65 should be seen confirming a strong test of important resistance at 126.47, which is the pivot point between the bearish or the […]
