A Chinese regulator chief emphasized safety among its users when he met Apple Inc. Chief Executive Tim Cook after the US tech giant lost its momentum in its largest market abroad. China’s Ministry of Industry and Information Technology head Miao Wei hopes the iPhone maker can offer convenience and security for its consumers, bolster the […]
Do asset price series in general reliably exhibit trends and reversals? In his May 2016 paper entitled “Trend, Mean-Reversion or Random Walk? A Statistical Analysis of Price Behavior in Major Markets”, Theo Athanasiadis tests a wide variety of financial market price series for existence of significant trends and reversals. He considers both spot and futures price series in U.S. […]
NZD/CHF found a top near 1.6800 after which it started to move lower and lower. The price broke first below 0.6730 and then below the 0.6670 support levels. Fibonacci applied to the first corrective wave after the 0.6730 support shows that the pair broke below the S2 (0.6575) but failed to test next resistance level […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. During February’s consolidations, the price zone of 0.6750-0.6840 constituted […]
On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence a bullish visit to the resistance at 1.4120 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish […]
EUR/NZD is clearly trending upwards producing higher highs and higher lows. The pair managed to break above the 200 Moving Average and remains above it. While moving higher, EUR/NZD broke above the ascending channel. Fibonacci applied to the channel breakout point shows that the pair broke above R2 (1.6820), but failed to test the next […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470) which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
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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 […]
A transport ministry official said on Wednesday that only Mitsubishi and Suzuki Motors used improper fuel economy tests for their cars in Japan. Suzuki had also been asked by the ministry to prove further details by May 31, the official said. On Wednesday, Suzuki admitted that it had used tests not compliant with Japanese regulations. […]
There won’t be another Greek crisis, Germany’s finance minister Wolfgang Schaeuble on Thursday said. On Wednesday, the government of Greece tabled a bill in parliament raising taxes, freeing up banks’ non-performing loans sale and setting up a new privatization fund with its foreign creditors in exchange for more bailout funds. The material has been provided […]
Global macro overview for 19/05/2016: The employment data from Australia has been released overnight, and, according to the Australian Bureau of Statistics, the unemployment rate remained unchanged at the level of 5.7% (lower than the 5.8% expected figure). Moreover, a net 10,800 jobs were added to the economy last month, missing the expectations of a […]
The Nikkei ended flat on Thursday, as caution offsets gains from Fed minutes that boosted the dollar and deteriorated the yen. Some investors stayed on the sidelines ahead of Group of Seven meetings to be held this week in Japan. The Nikkei ended at 16,646.66. Shares in oil companies plummeted as oil prices fell due […]
Microsoft Corp said it is selling its feature phone assets to Foxconn Technology subsidiary FIH Mobile, and HMD Global Oy for $350 million. Microsoft said that as part of the deal, FIH Mobile would also buy Microsoft Mobile Vietnam. The deal also includes the transfer of Microsoft’s all feature phone assets, including brands, software and […]
German 10-year Bund yield on Thursday rose to a 2-week high after the April meeting of the U.S. Federal Reserve fueled talk of an interest increase as early as June. Most policymakers said a rate rise may be appropriate at its June meeting, and that boosted short-dated U.S. Treasury yields, rising to their highest in […]
Technip SA and FMC Technologies have agreed on an all-stock merger to create a new company valued at $13 billion, Technip on Thuesday said. A statement revealed that Technip shareholders will receive two shares in the new company, to be called TechnipFMC, for every Technip share held, while investors at FMC will receive one share. […]
Good morning.Some absolutely superb posts in the comments section yesterday, terrific stuff! It’s particularly good when readers with relevant sector experience post about companies from first hand experience as a customer or supplier. All too often we just get our information about a listed company from that company itself. Yet this will obviously be a rose-tinted view! […]
Good morning.Some absolutely superb posts in the comments section yesterday, terrific stuff! It’s particularly good when readers with relevant sector experience post about companies from first hand experience as a customer or supplier. All too often we just get our information about a listed company from that company itself. Yet this will obviously be a rose-tinted view! […]
Good morning.Some absolutely superb posts in the comments section yesterday, terrific stuff! It’s particularly good when readers with relevant sector experience post about companies from first hand experience as a customer or supplier. All too often we just get our information about a listed company from that company itself. Yet this will obviously be a rose-tinted view! […]
The Dollar index has reached my 95.20 target and resistance and has paused its rise. After the FOMC minutes announced yesterday, hopes for a June hike in US rates have pushed the Dollar higher. The price is above the Kumo and with a recent cross of the kijun-sen (yellow indicator) by the tenkan-sen (red line […]
Gold broke below support and out of the triangle pattern yesterday as we expected. The bearish signals were there. Gold is in a bearish trend and could see the $1,237 support being tested. Important resistance is the $1,275-80 area now, and as long as the price is below it, the trend will remain bearish. Black […]
USD/JPY is expected to trade with a bullish bias. Overnight US stock indices pared gains to end little changed after the latest minutes of the US Federal Reserve’s monetary policy meeting indicated that interest rates could still be raised in June. The Dow Jones Industrial Average and the S&P 500 were broadly flat at 17526 […]
Global macro overview for 19/05/2016: The FOMC meeting minutes from last month were released yesterday afternoon. The overall tone of the minutes was more hawkish than many market participants had expected, and the June rate hike is back on the table if economic growth data continues to progress as predicted. The improvement in the employment […]
At 74 years of age, Michael Steinhardt is one of the most renowned and accomplished hedge fund managers in the world. Michael Steinhardt is a Jewish University of Pennsylvania graduate who, in the words of author Sebastian Mallaby, “[is] a legend in the story of hedge funds, partly because of his success as a trader, but also […]
General overview for 19/05/2016: The first two sub-waves in the developing wave (iii) are now completed, and if the count is correct, we should see a downward acceleration and an intraday support level breakout. Nevertheless, please remember that the invalidation of this structure is at the level of 124.65. So as long as the internal […]
Technical outlook and chart setups: The EUR/JPY pair is seen to be trading at 123.45 levels at this moment, after reversing from 123.90 levels yesterday. The pair should remain in control of bears till prices stay below 124.60 levels going forward. On the flip side though, a push above 124.50 would open doors for a […]
Technical outlook and chart setups: Silver dropped lower towards $16.70 levels yesterday before pulling back higher. The metal is seen to be trading at $16.81 levels at the moment, looking to rally further at least towards $17.60 levels before reversing lower. Please note that the probability still remains that the metal hits fresh highs at […]
Wave summary: With the break above minor resistance at 1.5582, the first minor signal of a bottom being in place at 1.6538 has been given. We will now be looking for a clear break above minor resistance at 1.6704 as the next trigger for a rally to 1.6931 and higher to 1.7254 as the next […]
USD/CHF is expected to trade in a higher range as the pair stands firmly above its horizontal support at 0.9805 and is expected to challenge its nearest resistance at 0.9890 in sight. Besides, the price is above its 20-period and 50-period moving averages, which act as support. Meanwhile, the relative strength index is bullish above […]
Wave summary: It should be just a matter of time before a new strong rally to 124.65 and higher towards 126.47 is seen. We still need a break above the important resistance at 126.47 to confirm that a long-term corrective bottom is in place at 121.46, but once this resistance is cleared, and we do […]
