Nike Inc. announced it would continue sponsoring Maria Sharapova although she got a two-year suspension as a drug test found her positive for using a prohibited medicine. The sports company stressed it would stay behind Russian-born tennis player, reiterating the International Tennis Federation ascribed to a faulty procedure to decide on the issue. Earlier this […]
The US House of Representatives is slated to vote on a measure aimed at alleviating the $70 billion debt load of Puerto Rico as a committee thwarted attempts to place the measure into numerous amendments. The Rules Committee on Wednesday lodged the Puerto Rico Oversight, Management and Economic Stability Act into Congress for deliberation. The […]
NZD/JPY has been consolidating between 78.00 and 75.00 although eventually the price broke below the ascending channel sending it below the 200 Moving Average. The pair rejected the S2 support (based on the Fibonacci applied to the channel breakout point) at first but then it was broken and followed by a correctional move up to […]
AUD/JPY found strong resistance near 87.00 and after forming a double top started to move down rapidly. And while falling the price broke below a slightly ascending channel. The Fibonacci applied to the channel breakout point shows that price broke below the 38.2% Fibs – S1 (79.20) and rejected the 50% level – R1 (80.55) […]
On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation range) enhanced the bullish side of the market. Hence a bullish visit to the resistance at 1.4120 (the Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 ( the 141.4% Fibonacci expansion) where […]
Bullish persistence above 0.6550 (the depicted support) was necessary to keep the price moving towards higher bullish targets. In February and March, signs of bearish rejection (triple-top reversal pattern) were expressed around the price level of 0.6750 until April when a bullish breakout above 0.6750 and 0.6860 was executed. Later on May 6, daily candlestick […]
Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, the previous weekly candlesticks maintained their bearish persistence below the depicted weekly supply zone (below 1.4470) which allowed further bearish decline to occur. The prominent demand level located at 1.3845 (historical bottom that goes back to March […]
In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010. Hence, a long-term bearish target was projected towards 0.9450. In March 2015, the EUR/USD bears challenged the next monthly demand level around 1.0570 which had been previously reached in […]
Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.6224 in a high volume. According to the 30M time frame, the price is testing the strong swing low at the level of 1.6224. I found bullish piercing pattern, which is a sign that we may see further upward […]
Overview: The NZD/USD pair will face strong resistance at the level of 0.7053 because the price of 0.7053 represents a double top. So, the strong resistance is already seen at the level of 0.7053 and the pair is likely to try to approach it in order to test it again. However, if the pair fails […]
Since our previous analysis, gold has been moving upwards. The price tested the level of $1,254.00 in a high volume. According to the 30M time frame, I found broken trading range (re-accumulation phase). The price went out of the trading range in a high volume, which is a sign that selling looks risky. My advice […]
Overview: On the four-hour chart, the USD/CHF pair continues moving in a bearish trend from the resistance levels of 0.9699 and 0.9637. Currently, the price is in the bearish channel. This is confirmed by the RSI indicator signaling that we are still in the bearish trending market. As the price is still below the moving […]
Stocks Report: Visa Inc. Visa rising inside impulse waves 3 and (C) Likely to rise to 82.00 Visa has been rising in the last few trading sessions inside the 3rd […] The post HY Newsletter -Hang Seng Index Approaches Resistance Level appeared first on | HY Markets Official blog. Forex Related Posts:Technical Analysis – US […]
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Technical outlook and chart setups: Silver has also pushed higher today and is seen to be trading at $16.70 levels at this moment. Please note that the metal is facing resistance at the Fibonacci 0.382 retracement levels of the drop between $18.00 through $15.80 levels respectively. It is still possible that the metal will pushe […]
Global macro overview for 08/06/2016: Crude oil inventories data are scheduled for release today at 02:30pm GMT. Market participants are expecting a drop in stockpiles to the level of -3000k barrels. Last week the inventories dropped as well, but to the lowest level of -1366k barrels, so this week anticipated number might reflect the recent […]
Before I get to this week’s new stock, I’d like to take a brief look at Monday’s trading update from SIF portfolio member Somero Enterprises. In short, the update confirmed that the firm’s core US market remains strong, with mixed trading elsewhere. Results are expected to be “comfortably in-line with market expectations” for the full […]
Before I get to this week’s new stock, I’d like to take a brief look at Monday’s trading update from SIF portfolio member Somero Enterprises.
In short, the update confirmed that the firm’s core US market remains strong, with mixed trading elsewhere. Results are expected to be “comfortably in-line with market expectations” for the full year. My reading of this is that earnings could even come in slightly ahead of forecasts, a view small cap editor Paul Scott shares.
SIF portfolio update
One of the apparent shortfalls of my screen is that it isn’t throwing up many defensive stocks. This is making diversification more difficult than I expected. It’s also causing me to wonder whether I’m filtering out desirable stocks.
I’m planning to look at these questions in more depth in next week’s column. What kind of defensive stocks am I missing out on? Is there a good reason to avoid them at the moment?
That’s for next week. The stock I’m going to add to the SIF portfolio this week is FTSE 100 defence giant BAE Systems. This is, I believe, a relatively defensive addition to the portfolio, despite officially…
Global macro overview for 08/06/2016: Before the national referendum in Britain on June 23rd this year, the macroeconomic outlook and analysis will be still important but not that much as the ongoing poll results. The GBP/USD pair will get very volatile and trading conditions will get very choppy ahead of the referendum day. Nevertheless, it […]
Technical outlook and chart setups: Gold has pushed higher and is seen to be trading at $1,253.00 level at this moment. The rally is not expected to sustain for too long though and a bearish reversal seems to be imminent from here or around $1,260.00/65.00 levels. The metal is expected to face strong resistance around […]
General overview for 08/06/2016: The top for the possible wave i was made at the level of 122.68 and then the marked did a three wave decline towards the level of 121.34. The low of this decline was labeled as wave ii, so now it is possible to develop another up wave, that will break […]
General overview for 08/06/2016: The green impulsive count has been invalidated due to wave one and wave two overlaps. An alternative count has been made to incorporate the recent wave developments. In this count, in 4H time frame, the main swing low at the level of 1.2460 is still the point of reference for all […]
The European Commission firmly believes Greece has done enough to secure an authorization to obtain bailout funds at a June 16 gathering of eurozone finance ministers. According to Economic Affairs Commissioner Pierre Moscovici, officials will be in rightful place to determine whether to provide the bailout fund amounting to €10.3 billion ($11.7 billion) in different […]
Singapore reiterated none of its banks received $3 billion from Goldman Sachs Group Inc. in connection to 1Malaysia Development Bhd.’s bond sale. The Monetary Authority of Singapore made the remarks following inquiries from various media entities. But it did not name any media company. A Wall Street Journal report indicated the US bank company wired […]
A Reuters-seen letter from German Deputy Finance Minister Jens Spahn showed that the government will endorse the release of the next tranche of aid to Greece by the European Stability Mechanism (ESM) rescue fund. On Wednesday, the budget committee will talk about the release of 10.3 billion euros ($11.7 billion) in credit. Geek lawmakers last […]
Parliament members urged for the extension of the voter registration for the EU referendum after the technical difficulties that hit the official registration website, as users reported a time-out error message instead of viewing the online registration form. The government blamed the technical error to the unexpectedly high traffic as half a million people tried […]
The first quarter profit of Rosneft OJSC, the largest producer of oil in Russia, dropped 75 percent as prices of crude fell to their lowest in over a decade, Rosneft said. Company net income plunged from 56 billion rubles last year to 14 billion rubles in this year’s first three months, a statement on its […]
Despite heightening global trade tensions regarding China’s steel overcapacity, the country’s steel imports went up 3.7% to 9.42M tonnes in May as steel mills unabatedly shipped output. The country also increased its iron ore imports by 3.4% in May to 86.75M tones from the previous month. Customs data shows that shipments increased 9.1% to 412.15M […]
Technical outlook and chart setups: The EUR/JPY pair has been drifting within a tapering/diagonal triangle as depicted on the 4H chart view. The pair seems to have formed a meaningful bottom at 120.50 levels earlier and pushed higher. It is seen to be trading at 121.82 levels for now, looking to continue rallying further. Please […]
They are no major economic releases today from the US or EU so sentiment is very likely to remain supportive for stock markets, oil, gold and obviously major currencies versus the USD after Janet Yellen’s speech on Monday. Currencies: USD Index is trading at a 4 week low, EURUSD is attempting new highs but price is […]
