U.S. stocks soared a fourth day and Treasuries slumped as comments from Federal Reserve Chairman Janet Yellen fired up bets the economy is powerful and stable enough to weather further stimulus trims. Gold extended an advance to five days. The Standard & Poor’s 500 Index skyrocketed 1.1 percent at 4 p.m. in New York, capping […]
Gold is looking bullish and has formed a rising channel. The market appears to have carved out a base at the December 31 low of 1182.16. The daily chart indicates there has been a relatively strong upside momentum since the bounce off this low. A catalyst for the upside-move occurred when prices broke above the […]
Federal Reserve Chairman Janet Yellen committed to maintain her predecessor’s policies by scaling back stimulus in “measured steps” and indicated that the bar is high for a change in that plan. Only a “notable change in the outlook” for the economy would trigger policy makers to trim down the pace of tapering, Yellen said in […]
General overview for 12/02/2014 08:30 CET: After hitting 78%Fibo at the level of 140.17, the price has declined fast and this leg down might be labeled as wave c of the overall corrective cycle in wave (ii). Currently the most important is the golden trend line breakout as this line has been providing good resistance […]
USD/CAD Elliott Wave The USD/CAD pair found resistance yesterday, and we see some downward movements in the b wave (coloured blue) of the bigger wave (a) (coloured red) that is currently developing. In the 1-hour chart, we can see that corrective wave b (coloured blue) has completed developing at 1.1091 and from there we are […]
AUD/USD Elliott Wave Yesterday, the AUD/USD pair has continued trading upwards, just like we expected, impulsive wave (v)/(iii) (coloured black) of the bigger wave [i] (coloured green) has been developing. In the 1-hour chart of the AUD/USD pair, we can see that we are currently in the final wave v of (v) that is taking […]
Market focus was on strong trade data from China on Wednesday, which helped lift risk sentiment as the slowdown in growth in the second largest global economy was not as bad as feared. China reported the widest trade surplus since January since 2009, as its exports beat expectations by far and rose 10.6% compared to […]
WM Morrison’s owners have been on the ringer to private equity firms to see if any of them are interested in taking the food retailer private – reported names include CVC Capital and Carlyle Group – two of the most likely candidates. WM Morrison shares respond well to the reports by moving higher early Wednesday […]
Technical outlook and chart setups: 1. Silver continues to trade within the discussed range of $19.00 and $20.00 respectively. A push above $20.50 is required to accelerate higher towards sub $22.00 and $24.00 levels. It is still recommended to remain long and also look to buy on dips towards range bottom. 2. Immediate support is […]
Technical outlook and chart setups: 1. Gold has been making higher highs and higher lows for now and has taken out resistance at $1,294.00. A meaningful pullback is awaited to enter long positions. The expected level is between $1,20.00 and $1,230.00. Flat for now. 2. Immediate support is at $1,230.00, followed by $1,220.00/10.00 and lower, […]
In Asia, Japan will release the Core Machinery Orders m/m, Tertiary Industry Activity m/m, M2 Money Stock y/y, Prelim Machine Tool Orders y/y and the US will release some economic data such as US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance. So there is a big probability the USD/JPY will move with low to medium […]
When the European market opens, there will be a release of Industrial Production m/m.The US will release the economic data such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3700. Strong […]
Technical outlook and chart setups: 1. The EUR/JPY pair has tested resistance line at 140.00 levels as seen here. It is still recommended to remain flat and await for a reaction here. Aggressive traders may go short, risk remains at 143.00. 2. Immediate resistance is at 142.00, followed by 143.00 and 145.50, while supports are […]
Technical outlook and chart setups: 1. The GBP/CHF pair has been range trading since last 6 sessions now. Range support is around 1.4680/1.4700 and resistance is around 1.4760/70. A breakout on either side should be awaited before committing further. Short positions taken earlier could be held, but fresh positions should be added on a breakout. […]
Gold again prove itself as a hedging machine. Traders choose gold as an investment vehicle resulted, the metal climbed 3-months high. Yellen’s testimony was part of the Fed’s semi-annual monetary policy report that was released. Thursday, Yellen is scheduled to testify before a Senate committee. If the economy moves in the same phase, the Fed […]
European markets have opened higher today, after China reported a surprise widening in its January trade surplus and as investors cheered the US Federal Reserve Chair Janet Yellen’s reassurance of a supportive US monetary policy. Closer home, investors await the release of the UK Conference Board’s Leading Economic Indicator and the Bank of England (BoE) […]
GBPUSD: We continue to hold our bullish outlook on GBP as it looks to recover further higher. This development leaves it targeting the 1.6497 level, its Jan 30 2014 high as the next upside. Further out, resistance resides at the 1.6550 level where a breach will aim at the 1.6600 level, its psycho level. A […]
Daily chart: The USDX tried to consolidate below the level of 80.62 but failed. However, in this chart, the bearish bias remains very strong, as there are high chances that the USDX start forming a bearish pattern, so a breakout at that support level could occur. On the other hand, if the USDX makes a […]
Daily chart: The pair managed to touch the resistance level of 1.6447 and is now forming a lower high pattern. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6540. However, it is very likely that during this week, GBP/USD is starting making […]
Trading recommendations: The EUR/USD pair is in the short term. The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3722. Accordingly, it will a good sign to sell below 1.3722 with the first target of 1.3636 to test a minor support at this price. Also, it will […]
Overview: It should be noted that the key level has set at the level of 0.8378. Therefore, this level is going to act as the strong resistance on February 12, 2014. As it is known, history will probably repeat itself at this level again. According to the previous events, the NZD/USD pair is still moving […]
Those who trade gold pushed the price of the precious metal to its highest level in two weeks on Feb. 10, and the demand of Chinese buyers was a major factor that was cited as helping the commodity enjoy this gain. Some market experts also noted the lackluster state of the recent jobs reports released […]
February 11, 2014 – Stock Market News Today’s Hot Asset – Facebook Stocks in the U.S. have opened the day trading higher. Investors are not overly optimistic following Janet Yellens testimony today and this is making stocks a more appealing investment. Stocks opened the day trading mixed, however Janet Yellens testimony has given private equities […]
The EUR/USD held its ground early in the week, as a light economic calendar kept trade subdued. The pair strengthened moderately in the first session of the week after Eurozone investor confidence rose at a faster rate than forecast. The Sentix Investor Confidence Index rose from 11.9 to 13.3 in January. The major peers are […]
The USD/CAD continued to ease off its 4 ½ year highs, suggesting the pair may be experiencing a bearish divergence. In what will be a relatively subdued week of trading, all eyes are on Federal Reserve Chair Janet Yellen, who is expected to make her first testimony in front of Congress. Janet Yellen was nominated […]
February 11, 2014 – Indices News Asian markets climbed early this morning in anticipation of Janet Yellen’s speech and some better than expected housing data from Australia. Sentiment in the market was that due to worsening US data, the Fed would hold off on further tapering of the stimulus – making the outlook for global […]
Overview: USD/JPY is expected to consolidate after hitting its six-day high of 102.65 on Monday as markets await the Federal Reserve Chairwoman Janet Yellen’s first semiannual testimony before the U.S. House Financial Services Committee. Ms. Yellen is expected to deliver a message of continuity in U.S. monetary policy. Liquidity was thin in Asia today as […]
Overview: NZD/USD is expected to range-trade. It is undermined by the Kiwi sales on NZD/JPY cross amid waning investor risk appetite. But NZD/USD downside is limited by the negative U.S. dollar sentiment, the Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance. Daily chart is still positive-biased as […]
Overview: USD/CHF is expected to trade with risks skewed lower. It is undermined by the negative U.S. dollar sentiment. But the USD/CHF downside is limited by the franc sales on soft CHF/JPY cross. Daily chart is negative-biased as MACD and stochastics are bearish. Trading recommendation: The pair is trading below its pivot point. It is […]
Overview: GBP/JPY is expected to consolidate. It is supported by buoyant EUR/USD undertone. But GBP/JPY upside is limited by subdued risk sentiment before the congressional testimony of Fed Chairwoman Janet Yellen. Daily chart is still positive-biased as stochastics is bullish, MACD is staging bullish crossover against its exponential moving average. Trading recommendation: The pair is […]
