Gold futures reported near a 16-week high, even as some investors seen the rally excessive on anticipations the Federal Reserve will retain its plan to cut down US stimulus. Bullion to be delivered immediately was settled at $1,336.68 per ounce at 9:29 a.m. in Singapore, previously $1,336.98, when prices touched $1,339.09, the most since October 31. The […]
The Asian session was relatively quiet due to the lack of market moving data. Risk sentiment was upbeat though as Wall Street swung higher and the S&P hit a record high yesterday. The Nikkei average climbed to a 4-week closing high. The dollar is broadly lower after US economic data from Monday’s session was mostly […]
Wall Street’s advance overnight thanks to Fed chair Yellen reiterating her pledge to support her predecessor’s stimulus policies. Despite some poor US economic data [poor weather still being blamed] the S&P500 index rose to 1847, about a point away from its record close registered last month. The US market was also propped up by the […]
Fresh highs (around 1.1220) have been recently touched after long-time absence. Recently, USD failed to keep its gains against CAD, and the USD/CAD pair was pushed to the downside indicating weakness of the ongoing bullish momentum. It’s important to note that the pair has an established consolidation zone between 1.0850 and 1.0960. This renders the […]
Since January 24, the EUR/AUD pair has been moving to the downside within the depicted bearish channel. On February 13, the bulls expressed a bullish breakout above the upper limit indicating weakness of the ongoing bearish momentum. Simultaneously, the bulls established an inverted Head and Shoulders pattern off 1.5000. The neckline is roughly located at […]
The bullish impulse managed to bypass the upper limit of the bearish channel. The upper limit of the bearish channel also corresponded to 50% Fibonacci level that got broken too. This opened the way towards 1.3730 (61.8% Fibonacci Level) breakthrough above which opened the way directly towards 1.3770. However, the pair is moving sideways during […]
The pair remains in the bearish impulse initiated off its peak price around 1.6820. On Friday, the pair had retraced up to 1.6724 before prominent bearish rejection was expressed to achieve daily closure at 1.6615 resulting in a “Shooting-Star” daily candlestick. The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, […]
European markets have opened lower today, as investors remain on the edge ahead of a slew of economic reports from European nations and the US. Closer home, market participants are expected to keep a close eye on the release of mortgage approvals and CBI distributive trades survey data. Additionally, economic growth forecasts by the European […]
The USD/SGD pair is trading at the 1.2605 level. In the daily chart, the pair has broken the supporting trend line and now is trading below the short term moving averages. But it holds its 50.0 fib level and 200DEMA at the level 1.2555. Last week, the pair formed a nice base at the level […]
Chinese home prices slowed down for the first time in 14 months in January. Data released yesterday revealed that home prices in major 70 Chinese cities rose 9.6% compared to 9.9% in the previous month. The gold price came attractively after the soft data, concerns over the housing market and growth in US and global […]
When the European market opens, some economic news will be released such as German Final GDP q/q, Italian Retail Sales m/m, EU Economic Forecasts.The US will release the economic data too such as the US-S&P/CS Composite-20 HPI y/y, US-HPI m/m, US-CB Consumer Confidence, US-Richmond Manufacturing Index. So amid the reports, the EUR/USD is likely to […]
In Asia, Japan will release the CSPI y/y and the US will release some economic data such as US-S&P/CS Composite-20 HPI y/y, US-HPI m/m, US-CB Consumer Confidence, US-Richmond Manufacturing Index. So there is a big probability that the USD/JPY will move with low volatility during the Asian session; however, with low to medium volatility during […]
Technical outlook and chart setups: 1. EUR/JPY remains more or less unchanged within the 140.00/50 territory. Recommendations are to remain short for now, the risk remains at 143.00 levels. A push through 143.00 would indicate further strength and challenge 145.50. 2. Immediate resistance is at 142.00/50, followed by 145.50; while supports are spread through 136.50 […]
Technical outlook and chart setups: 1. Gold rally stalls for now at $1,338.00/39.00 levels. A meaningful retracement lower should be due now or from $1,360.00. It is recommended to remain flat for now and wait for early signals to reverse lower. 2. Resistance is at $1,360.00 for now and a push through $1,340.00 would indicate […]
Technical outlook and chart setups: 1. GBP/CHF remains locked between the two support lines as seen here. Immediate structure is indicating that prices still remain above the 1.4650 mark, bulls would remain in control. Recommendations are to remain flat and await further reaction. 2. Immediate resistance is at 1.5120/30, while supports are spread through 1.4550, […]
Daily chart: The USDX performed bearish movements in the early half of the week, as the pair fell back to the support level of 80.11. If the USDX manages to consolidate below this level, it is expected to prolong the bearish bias for several weeks and the USDX to fall to the support level of […]
Technical outlook and chart setups: 1. Silver has taken out resistance at $22.06 yesterday. A meaningful pullback is awaited now. The metal remains in control of bulls but trading recommendations are to buy on dips from here on. Levels of interest are $20.00/50. 2. Immediate resistance is around $23.00. The bulls might be wanting to […]
Daily chart: This pair has had a bullish start in the week as during Monday’s session the GBP/USD made a bullish rebound above the 1.6620 level. Now it is facing resistance at the level of 1.6663. If it manages to break that level, it is expected to rise to 1.6766. However, keep in mind that […]
EUR/USD: This pair is a bull market and further bullish movement is anticipated. The support line at 1.3700 should do well in acting as a barrier to any possible southward pulls along the way. Meanwhile, the price should soon be trading above the resistance line at 1.3750. USD/CHF: The USD/CHF is a bear market and further […]
Women Are Better Traders. Let me explain: First, women are generally more risk averse than their male counterparts, and therefore they really subscribe to the “low risk” approach that is one of the hallmarks of successful trading. This risk aversion also helps with patience in waiting for the right opportunities. A possible drawback to this […]
The USD/CAD has been one of the most successful pairs in 2014. Investors lost faith in the loonie after two years of subdued economic growth prompted the Bank of Canada to cut its growth forecast. Although the BOC is not expected to lower interest rates this year, choppy recovery in Canada will likely keep the […]
The GBP/USD pair started the week in consolidation mode, as investors looked ahead to an active data wire. The pair was unable to make waves last week, declining more than 0.3%. An unexpected rise in UK unemployment shifted market sentiment, and reaffirmed the Bank of England’s latest decision to maintain ultra loose monetary policy. The […]
The EUR/USD opened the week in retreat, as investors digested latest inflation data from the Eurozone. Consumer inflation stabilized at 0.8% in January, up from 0.7% the previous month. Core inflation was also up 0.8%, versus 0.7% the previous month. The EUR/USD pair traded within a range of 1.3717-1.3771, later consolidating at the lower end […]
Hello eTorians!! Last week was a fairly quiet week on the most of the major markets. It was a week without much big economic data and this was probably the main cause for the calm. This is the Emerging Social Investors test for the week ending on February 21th. In this scenario our Emerging Social […]
Images of fire, smoke, bullets, and bodies fill the international media this week. There are always times of turmoil in the world but it seems lately that things are a bit more on edge in many places. It’s difficult enough for anyone to keep it together in situations like these, but being an investor in the […]
February 24, 2014 – Indices News The Asian session started of in negative number as traders were tracking the poor Chinese real-estate investment figures that were released. Traders are worried that these figures are indicating poor economic growth especially with so many emerging markets depended on Chinese demand. This report has caused asian stocks to […]
February 24, 2014 – Stock Market News Today’s Hot Asset – HSBC Holdings Stocks in the U.S. have opened the day trading higher in the first session of the week. Investors are being able to trade on equities today with a free mind, as there is no important regional economic data due to be released […]
Financial Trading Plan Everyone will agree that financial trading requires brains, skills, tools and a solid plan. Due to the fact that the markets don’t have a central exchange point, pretty much any institution, broker or trader from around the world can be considered a market maker and leaves a signature in the historical price […]
Hello friends! Before I get going, I would first like to give a shout out to my Canadian hockey teams at the Olympics! They proved once again that we are hockey nation! Anyways… Today I would like to share with you my three top investments: EURUSD, EURCAD and USDCHF. Keep in mind I said investments, […]
Overview: USD/JPY is expected to consolidate after hitting the three-week high of 102.83 on Friday. It is undermined by the weaker dollar sentiment (ICE spot dollar index last 80.25 versus 80.28 early Friday) and selling of yen crosses amid the diminished investors’ risk appetite (S&P fell 0.19% Friday) after larger-than-expected 5.1% on-month fall in the […]
