Good afternoon!It’s a very slow day for company news today.Brexit seems to be very much dominating things right now. The opinion polls are showing a late surge for the Out campaign. I’ve always assumed that the British people are most likely to do what always happens on big issues – if unsure, at the last minute people trot out […]
Good afternoon!It’s a very slow day for company news today.Brexit seems to be very much dominating things right now. The opinion polls are showing a late surge for the Out campaign. I’ve always assumed that the British people are most likely to do what always happens on big issues – if unsure, at the last minute people trot out […]
Overview: The EUR/USD pair has faced strong resistance at the levels of 1.1302 because support has become resistance since last week. So, the strong resistance has been already formed at the level of 1.1302, and the pair is likely to try to approach it in order to test it again. The EUR/USD pair is still […]
Embattled Lotte Group, a South Korean conglomerate, said that it is withdrawing its supposed $4.5 billion IPO of its Hotel Lotte unit citing “internal and external issues.” The company has been embroiled in bribery and embezzlement investigations amidst a growing power struggle involving its founding family. In a filing at Seoul on Monday, Hotel Lotte […]
Does the January (turn-of-the-year) stock return anomaly affect value and momentum strategies applied at the country stock market level? In his June 2015 paper entitled “The January Seasonality and the Performance of Country-Level Value and Momentum Strategies”, Adam Zaremba investigates this question using four value and two momentum firm/stock metrics. The four value metrics, each measured over four prior […]
France’s Thales and Dutch IT services company Unica Groep BV have won orders from the Dutch Ministry of Defence for a new surveillance and security system for 170 of its sites in the Netherlands, the two companies said on Monday. Thales and Unica said they would install and operate the systems for over the course […]
Japanese Nikkei fell to its five-week low on Monday as Brexit woes sapped risk appetite. The continuous strength of yen put further pressure on Tokyo equities. The yen hit its six-week high against the dollar. The share average of Nikkei fell 3.5 percent to 16,019.18 points, the lowest since May 6. The decline by casual […]
Facebook Inc. activated the Safety Check, a feature enabling people to inform if they are secure in the event of a crisis or catastrophe. This is the first time the social network company turned on the feature in the United States. The move comes following a certain Omar Mateen hit 50 people after he assaulted […]
Iraq has authorized legislations sought by the International Monetary Fund to obtain loans which could help the country avert a cash crunch due to slumping crude revenue. Mudher Saleh, Prime Minister Haider al-Abadi’s financial policy adviser, said the agreement between the government and the IMF is on course. Some of the measures approved include settling […]
Technical outlook and chart setups: Silver is seen to be trading at $17.25 levels at this moment, attempting to re-test its highs at $17.36 levels earlier before reversing. Please note that the metal is seen to have stalled at fibonacci 0.618 resistance levels of the drop between $18.00 through $15.80 levels. Furthermore, it has produced […]
Technical outlook and chart setups: Gold has yet again pushed higher and is seen to be trading around $1,281.00/82.00 levels after printing highs at $1,284.22 levels. Please note that the metal has hit fibonacci 0.786 retracement levels of the previous drop between $1,303.00 through $1,200.00 levels respectively, a typical property of the yellow metal before […]
Wave summary: The clear break below important support at 1.6062 calls for more downside correction. The consolidation seen since early December 2015 has been a triangle, and a break below 1.6062 confirms that a downside thrust had been seen for a decline towards 1.5449 and possibly even lower to 1.5087 before the long term correction […]
Wave summary: The strong break below 120.28 invalidated the ending diagonal we have been looking for. This has moved this option forward as the preferred. The above option is calling for a continuation lower towards the equality target between wave A and C, which is seen at 117.35. This is also very close to the […]
Global macro overview for 13/06/2016: The most anticipated fundamental macro event of the week is the Federal Open Market Committee (FOMC) meeting scheduled for Wednesday at 6:00 pm GMT. The meeting will end with the release of an interest rate decision, the statement, and economic projections. Chairperson Janet Yellen will deliver a prepared statement and […]
Global macro overview for 13/06/2016: The US consumer sentiment report was released last Friday, and it slightly beat the expectations, but on the other hand, it is still worse than last month’s figures (94.3 vs. 94 and 94.7 prior). The University of Michigan index measures consumer sentiment towards the economic policy in the US, so […]
Sterling plunges to 2 months low level as “Brexit” fears is rising. An ORB/Guardian “Brexit” Poll showed that 55% of participants wanted to leave, the result of the poll has sent Sterling tumbling on Friday. Currencies: USDJPY dips through last week’s low of 106.24 and could be heading to 105.54 low as risk aversion gripped Asian […]
Investors’ worries about the upcoming British referendum on whether to remain in the European Union on 23 June added to already existing fears of a global economic slowdown, and also crude oil prices which remain at low levels. There are forecasts for increased volatility within the markets now that there are only ten days left […]
The Dollar index has given a very bullish signal like it did in early May by producing a bullish hammer candle on the weekly chart. We all remember the rally in the Dollar index from 92 to 96 last May, and there are several indicators that show that this could be repeated with a higher […]
Pound Gaps Lower As Brexit Becomes Possible Morning Report: 06.30 London • This morning, the British pound has opening with a gap lower as Brexit opinion polls show an ever narrowing public opinion. A ‘leave’ outcome has moved from being unlikely to being a possibility, at least going by the polls. The betting markets are […]
Gold continues to rise towards its previous highs producing bearish divergence signals warning bulls to be cautious. Despite remaining longer-term bearish, I believe we should be ready for a pullback this week towards at least $1.255. Black line – long-term resistance (broken) Red line – price projection Green rectangles – overbought signals Gold is trading […]
General overview for 13/06/2016: Just as anticipated last week, the low for the wave X brown has been established at the level of 1.2654, and now the market is trying to fight its way up. The first real obstacle is technical resistance at the level of 1.2911, so the price must impulsively break out above […]
USD/JPY is under pressure. On Friday, US stock indices closed lower. On top of the decline in oil prices, uncertainty over central-bank policies and Britain’s June 23 European Union membership referendum aroused risk aversion in global markets. The Dow Jones Industrial Average dropped 0.7% to 17865, the S&P 500 fell 0.9% to 2096, and the […]
USD/CHF is expected to trade with a bullish bias above 0.9605. The pair stands firmly above its nearest support at 0.9605 and is expected to post a new rise. Meanwhile, both the rising 20-period and 50-period moving averages are playing support roles. Besides, the relative strength index is bullish above its neutrality area at 50 […]
GBP/USD has completed a strong wave c 4/ along with a recent double top near the 1.4750 level. It has reacted off a fractal resistance and is showing a strong sign of a big drop from here towards 1.3320 level (fractal support). Trading recommendations: Sell now and once more near the 1.4350 level Stop loss […]
AUD/USD reached our profit target previously. Now we’re bullish expecting a bounce up first before a further drop to 0.7325 (50% retracement and close to 62% retracement) along with key graphical support level. The RSI has broken the ascending support-turned-resistance line strongly, too, signalling further decline. Trading recommendations: Sell now and once more at 0.7410 […]
EUR/USD: The EUR/USD has become neutral in the short term. May 2016 was mostly bearish, and the bullish breakout that was witnessed on June 3 overturned that bearish bias. However, the bulls were unable to push the price further north last week, for the bullish movement was halted at the resistance line of 1.1400, which […]
NZD/USD is expected to trade in a lower range. The pair has been capped by its descending 20-period and 50-period moving averages since June 10 and is likely to challenge its nearest support at 0.7030. Meanwhile, the relative strength index stays below its neutrality area at 50 and calls for further decline. To sum up, […]
General overview for 13/06/2016: It might be the time to take a look at the big cycle time frame like the weekly one to determine further possible wave development. On the big weekly time frame, we can see that the current corrective structure had almost reached the 1:1 market geometry zone between the levels of […]
GBP/JPY is expected to trade in a lower range as it is capped by a negative trend line. The pair has been capped by a declining trend line and is accelerating on the downside. Meanwhile, the relative strength index is badly directed. As long as 153.70 holds as the key resistance, target 149 and 148 […]
Today no economic news will be released from the European and the US markets, so amid this condition, it seems that the EUR/USD will move with low volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1292. Strong Resistance: 1.1286. Original Resistance: 1.1275. Inner Sell Area: 1.1264. Target Inner Area: 1.1238. Inner Buy Area: […]
