Brent futures have advanced considerably over the last couple of hours, surpassing the 50- and 200-simple moving averages (SMAs). The bullish picture in the short term looks to last for a while longer after the moving averages turned to the upside. Support was met at around the 73.80 region after prices hit a one-month low, forcing the […]
Here are the latest developments in global markets: FOREX: The euro kept shining during the early European afternoon as yesterday’s comments by ECB officials raised speculation that the central bank was preparing to exit its quantitative program by the end of this year, with the announcement probably coming as soon as next week. Euro/dollar managed to […]
• EURCAD broke resistance zone • Further gains are likely EURCAD recently broke the resistance zone lying between the key resistance level 1.5200 (which has been reversing the price from the middle of May) and resistance trendline of the daily down channel from March. The breakout this resistance accelerated the active medium-term impulse wave (1) […]
Gold has been in use as a means of exchange for more than 2000 years. In all the major religious and historical books, the role of gold as an important and precious metal has been prominent. Today, the role of gold as a currency has changed. In fact, most people who own gold don’t own […]
Chinese trade numbers for the month of May are scheduled for release on Friday, with the figures perhaps attracting more interest in light of trade discussions between the US and China. Also of importance out of the world’s second largest economy, will be producer and consumer price inflation data due on Saturday. Friday’s figures are […]
The US 30 index has broken out of its bull flag on Monday and extended higher into resistance at 25240.00 today. There are a lot of conflicting stories that the market is choosing to ignore such as trade tension and forward guidance against beats on earnings and better economic data. The breakout was retested on […]
NZDUSD has struggled below the 0.7050 strong resistance level and touched the upper Bollinger Band, which stands near the 38.2% Fibonacci retracement level of the downleg from 0.7395 to 0.6850. However, the technical indicators are sending bullish signals, suggesting that the bullish correction will continue. From the technical point of view, in the 4-hour chart, the RSI […]
Here are the latest developments in global markets: FOREX: The US dollar index is 0.2% lower on Thursday, extending the losses it posted in the previous session as the euro continued to recover. The euro’s rebound was refueled by some ECB policymakers, who signaled their confidence in the economic outlook, and heightened speculation that an end-date […]
While the “Risk On” rally continues in global stocks the Chinese markets are lagging behind over fears of trade tensions and high levels of maturing debt. In stark contrast US markets were higher adding to the gains made in the Asian session over the last four days. European markets are trying to make up lost […]
USDJPY has found strong resistance obstacle on the 200-day simple moving average (SMA) early this morning and drove the pair lower. Since its deep fall towards the 108.10 support level, the price has been going back and forth creating a base around the 38.2% Fibonacci retracement level of the downleg from 118.60 to 104.60, around […]
Alcoa stock has reversed back up again after finding support at the 46.75 level, which overlaps with the medium-term ascending trend line. The price remains above the 200-day simple moving average (SMA) suggesting further upside momentum. The RSI has been rising in recent days, hinting to a change in short-term dynamics from bearish to bullish. […]
Natural gas has been a great miracle for the current generation. The gas, which is found deep within the earth’s crust has been used to provide clean energy to household and natural grid. It has been used to replace the traditional coal-powered plants that were known to be heavy pollutants. In the past, natural gas, […]
This year is turning out to be an interesting one for the financial markets. When it started, optimism around the world was rising. The United States had just passed the massive tax reform package. In the EU, traders expected calm, in a year when there was just one election. In the Middle East, we expected […]
Japan will publish revised GDP numbers on Friday (Thursday, 23:50 GMT) for the first quarter. Growth is expected to be revised higher on the back of stronger than initially estimated capital expenditure during the period. However, the revision is unlikely to allay fears of a recession unless growth is revised to positive, as household spending […]
• Copper broke resistance zone • Further gains are likely Copper recently broke the resistance zone located between the key resistance level 3.180 (which has been steadily reversing the price from the start of March) and the 61.8% Fibonacci correction of the previous downward correction from the end of December. The breakout of this resistance […]
Here are the latest developments in global markets: FOREX: The dollar unlocked a fresh two-week high of 110.14 (+0.31%) against the Japanese yen early in the European afternoon as another round of data released yesterday enhanced once again optimism on the US economy despite trade risks hanging in the background. The dollar index, though, which gauges […]
The Euro is strengthening after comments by ECB speakers have hinted that the central bank may look to announce an end to Quantitative Easing (QE), possibly as early as at the June meeting. Coordinated comments made by Praet, Hansson, and Weidmann all indicate a potentially upbeat projection by the ECB with inflation rising back to […]
• EUR/USD broke resistance zone • Further gains are likely EUR/USD recently broke the resistance zone lying between the resistance level 1.1720, resistance trendline of the daily down channel from April and the 38.2% Fibonacci correction of the previous downward impulse from the middle of April. The breakout of this resistance zone should strengthen the […]
On 19th May it was our great pleasure to sponsor a festive gala event in the vibrant city of Madrid, Spain, organized for online investors and individuals involved in the financial industry. A memorable evening awaited guests in the luxury ambience of Eurostars Madrid Tower, where all those interested in, or directly related to online […]
The private Oil data yesterday showed an unexpected draw in inventories of -2.028M and we await data this afternoon to support that view. There is also Canadian Trade, Building Permits and PMI data being released today. USDCAD advanced to trend line resistance yesterday where sellers forced price down creating a pin bar on the 4 […]
The GBPJPY pair is retesting is rising trend line resistance today at 147.842 which is also the level of its 200 period MA in this 4 hour chart. There has been a spectacular selloff from the 150.000 level all the way to support at 143.184 and a recovery to current price. Resistance comes in at […]
EURJPY has been recording a stunning rally over the last five days, creating a new two-week high of 129.57. The sharp buying interest has shifted the near-term bias from negative to positive. Also, the momentum indicators are supportive of the bullish picture. From the technical point of view, the MACD oscillator completed a bullish cross […]
Here are the latest developments in global markets: FOREX: The US dollar index is trading 0.1% lower on Wednesday, looking set to post its third consecutive day of declines. The euro continued to recover amid speculation around an ECB QE announcement coming sooner rather than later, while the Canadian dollar went for a ride following mixed […]
The news broke overnight that Steve Mnuchin had urged the President to give Canada an exemption from the Steel and Aluminium tariffs. USDCAD had already sold off from its high of 1.30657 but extended the move and is now trading around 1.29300. Whether Canada gets a pass or not remains to be seen but traders […]
The extensive seminar road trip that XM started in Thailand this March and that reached as many as seven event destinations, successfully ended on 2nd June in the city of Chiang Rai. The XM team members, accompanied by professional instructor Sompop Jittrakul, welcomed seminar participants at Le Méridien Chiang Rai Resort, where all those present […]
AUDUSD is looking more bullish over the last few hours as the price aggressively surpasses the medium-term tentative descending trend line in the daily timeframe. The negative momentum appears to have run out of steam as prices have been attempting to close a day above the line. Looking at momentum oscillators in the short-term timeframe […]
• Brent Crude Oil broke support zone • Further losses are likely Brent Crude Oil continues to fall after the earlier breakout of the support zone lying between the key support level 75.00 (former resistance level from the end of April) and the 61.8% Fibonacci correction of the previous sharp upward impulse from the start […]
AUDJPY hit a two-week peak of 84.17 earlier today before pulling lower. Today’s high marked a sharp reversal from the two-month low of 81.01 touched on May 30. The near-term bias remains bullish but momentum indicators suggest the rebound may be running out of steam. The RSI is pointing downwards, though it remains in positive […]
The trade balance in goods and services will be published by the United States Census Bureau on Wednesday at 12:30 GMT. After a sharp narrowing in the trade deficit in March, the shortfall is expected to hold near similar levels in April. The data will likely be watched closely ahead of the G7 summit on […]
The Reserve Bank of Australia (RBA) concluded its meeting today and – as expected – left interest rates unchanged at 1.5%. As a result, the Australian dollar was little moved against the dollar, though it has seen a major increase in the past few days. On Wednesday, the pair started an upward surge, rising from […]
