The cost of shares of the largest manufacturer of graphics accelerators and processors of NVIDIA Corporation fell by more than 13% to $ 138 amid lower forecasts for reporting for the fourth quarter of 2018. The company lowered its quarterly revenue forecast from $ 2.7 billion to $ 2.2 billion due to weaker than analysts […]
Hot on the heels of its profit warning, Tesla Inc on Wednesday will publish its earnings results for the fourth quarter and full year 2018. After a record third quarter when sales surged, the company is expected to report smaller quarterly profits, despite higher deliveries, as costs soar and profit margins narrow. Tesla is expected […]
The euro boosts attractiveness, taking advantage of the expectations of the Fed’s “pigeon” rhetoric, hopes for progress in the trade negotiations between Washington and Beijing. The comments of Mario Draghi, who convinced the market that the economic affairs in the European block are not as bad as it seems at first glance, came to the […]
Last week, for the first time since May 2018, the price of gold overcame the level of $ 1,300 per ounce and is still above this psychological level. “The uncertainty surrounding Brexit, the “shutdown” in the US, trade wars are only part of the problems by which the price of gold should have shown much […]
Facebook stock price rebounded on the two-year low of 123.30, registered on December 21. Currently, the price holds above the 50-day simple moving average and the 23.6% Fibonacci retracement level of the downleg from 218.44 to 123.30, around 145.74. The stochastic is detecting upside momentum as the %K line posted a bullish crossover with the […]
China’s manufacturing sector activity in January was likely to shrink for the second month in a row, heightening concerns about the risks associated with a slowdown in China and a threat to the global economy. Industrial leader Caterpillar has become another major international company that warned of declining demand in China, followed by chip makers […]
Aggressive cuts in Saudi Arabia and US sanctions against Venezuela could allow the North Sea variety to show better dynamics in January from 2006, and Texas from 1984. From the point of view of the monthly increase, Brent’s achievements could be the most impressive since December 2016, when OPEC enlisted the support of other countries […]
Since early January, the pound sterling has risen in price against the dollar by more than 3%, demonstrating the best dynamics among the G10 currencies. In this case, most of the growth took place last week. Against the background of reducing the likelihood of the United Kingdom leaving the European Union without a deal, as […]
Voting for the draft agreement on Brexit postponed to February 13, Theresa May promised to make adjustments to the document to increase the chances of success. Judging by the active purchases of the pound since mid-January, investors are waiting for a favorable outcome. But the decline of the British currency against the euro and the […]
To open long positions on GBP / USD, you need: The situation in the pound has not changed, except that buyers managed to keep the support level of 1.3137, which leaves hope for the continued growth of the pound. In the evening, another vote will be held on Brexit in the British Parliament, which can […]
GOLD PRICES in the London wholesale market touched an 8-month high at $1310 per ounce Tuesday as European stock markets rallied and crude oil rose. Gold priced in the so-called ‘safe haven’ Swiss Franc gold also rose to its highest since May 2018, gaining above CHF1300 per ounce, while gold prices for Eurozone investors […]
To open long positions on EUR / USD, you need: The euro buyers failed to cope with the morning task of returning to the resistance area of 1.1457, which could lead to the formation of a downward correction in the afternoon. It is best to consider long positions after the formation of a false breakdown […]
Blue-channel is based on the price movement of Yesterday. Violet-channel is based on the previous two-days consolidations. Yellow-channel is based on the previous three-days consolidations. Lack of enough bullish momentum was demonstrated on the depicted chart so that Today’s recent movement has been going into sideways consolidations. The pair is currently moving within the depicted […]
Recently, GBP/USD has been trading sideways at the price of 1.3160. GBP/USD is still trading inside the upward Pitchfork channel, which is a sign that buyers are in control. There is a potential end of the downward correction (running flat) which will open the way for a new wave up. The overall trend is still […]
Overview: The GBP/USD pair will continue rising from the level of 1.3048 today. So, the support is found at the level of 1.3048, which represents the pivot point in the H1 time frame. Since the trend is above the pivoti level, the market is still in an uptrend. Therefore, the GBP/USD pair is continuing with […]
On December 12, the previously-dominating bearish momentum came to an end when the GBP/USD pair visited the price levels of 1.2500 where the backside of the broken daily uptrend was located. Since then, the current bullish swing has been taking place until January 17 when significant bearish rejection was demonstrated around 1.2999 (Bearish Engulfing candlestick […]
Overview: The USD/CHF pair faced resistance at the level of 1.0031, while minor resistance is seen at 0.9987. Support is found at the levels of 0.9884 and 0.9819. Also, it should be noted that a daily pivot point has already set at the level of 0.9939. Equally important, the USD/CHF pair is still moving around […]
Bitcoin continues to drop as expected. It respects the Pitchfork downward channel nicely and it is doing good job towards the median. Since the key support cluster at $3.420 is broken and successfully retested, we expect downward continuation. I also found the successful breakout of the mini upward Pitchfork channel, which is another sign of […]
Early on Wednesday at 0030 GMT, the Australian Bureau of Statistics will publish inflation numbers for the fourth quarter of 2018. Forecasts are for another soft outcome of 1.7% year-on-year from 1.9% from the previous quarter. On a quarterly basis, the pace of consumer price increases is predicted to remain the same at 0.4% as before. […]
Since June 2018, the EUR/USD pair has been moving sideways with a slight bearish tendency within the depicted bearish Channel (In RED). On November 13, the EUR/USD pair demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term bullish channel (In BLUE) was initiated. Bullish fixation above 1.1420 was needed […]
Gold continues to rally as expected. It respects the Pitchfork upward channel nicely and it is doing good job towards the median line of the larger channel. Since the key resistance is broken at $1,298.00, we don’t see any big resistance around and any signs of a reversal. R1: $1,305.70 R2: $1,308.60 R3: $1,312.75 Pivot: […]
In recent months, the focus on the price of soybeans has revolved around tariffs and the ongoing trade war. Investors believe that the ongoing trade war will reduce the imports of soybeans from the United States. Indeed, the amount of soybeans in storage the US has increased as imports from its biggest customer have reduced. […]
South Africa is the second largest economy in Africa with a GDP of more than $349 billion. It is second after Nigeria, which has a GDP of more than $375 billion. The country’s GDP per capita is about $6,100 compared to Nigeria’s $1,600. The country’s economy is mostly based on agriculture, mining, finance, and trade. […]
Wave counting analysis: On Monday, January 28, trading ended for EUR / USD by another 25 bp increase. Thus, the expected wave 2 in the composition of the supposedly new downward trend section continues its construction. An unsuccessful attempt to break through the level of 38.2% on the older grid, or 61.8% on the youngest, […]
West Texas Intermediate (WTI) futures have declined beneath the 20- and 40-simple moving averages (SMAs) in the 4-hour chart, indicating possible negative retracement. Momentum signals are bearish as well, as the red Tenkan-sen line, which is below the blue Kijun-sen line, looks to be heading south, while the RSI has reversed lower, holding beneath its 50 neutral mark. Also, the […]
GBPJPY started the week on a softer note after hitting a seven-week high at 144.82 on Friday. The technical picture predicts now that a sideways move could follow in the short-term as the RSI moves down to meet its 50 neutral mark, whereas the MACD continues to gain strength in positive territory and above its red signal line. Should traders […]
Risk appetite stays fragile as key companies sound the alarm on Chinese growth In the UK, it may be a deciding day for Brexit as lawmakers vote on various plans Earnings season continues in full throttle today, little on economic calendar Corporate warnings on China rattle stocks, drag oil lower US equity markets closed in […]
Wave counting analysis: On January 28, the GBP / USD pair dropped by 30 bps. and the current wave counting again has not suffered any changes or additions. Tonight, in the British Parliament, a second vote on the issue of Brexit was held. The pound sterling in recent weeks did not pay any attention to […]
The market is waiting for the main events of the week: voting in the British Parliament on the agreement with the EU today, January 29, (will vote for different versions of the agreement to try to find a majority position. On Wednesday – the Federal Reserve decision on rates. No one expects the Fed to […]
Trading plan for 29/01/2019: A quiet day in the financial markets ahead On Tuesday there is a relative nervousness in the markets, which prevents from delineating a particular direction. Sentiment spoiled the allegations presented to the financial director of Huawei by the US, which may complicate the US-China trade negotiations. Stock markets in Asia are […]
