It is expected the upside movement of NZD/USD will prevail. The pair is above its nearest support at 0.6770, and it is expected to post a new rise. Meanwhile, both the rising 20-period and 50-period moving averages are playing support roles. Last but not the least, the process of higher highs and lows remains intact. […]
GBP/JPY is expected to trade with bearish bias as key resistance is at 158.75. The pair was capped by its descending 50-period moving average and it remains on the downside. The relative strength index stuck against 50 and lacks upward momentum. As long as 158.75 is not broken above, the pair is expected to test […]
One of the most important questions you would have to ask yourself before getting into trading and before you make your first trade, is “who do you want […] The post Six Key Factors for Choosing A Suitable Forex Broker appeared first on | HY Markets Official blog. Forex Related Posts:Forex forecast 04/23/2024: […]
On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. The 0.6550 level was broken a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. During February’s consolidations, the price zone of 0.6750-0.6840 constituted […]
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 (Fibonacci Expansion 100%) occurred. Bullish persistence above 1.4150 enhanced the bullish side of the market towards 1.4650 (141.4% Fibonacci expansion) where an evident bearish […]
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 and 1.2000 where historical bottoms had been previously set in July 2012 and June 2010. Hence, a long-term bearish target is projected towards 0.9450. In March 2015, the EUR/USD bears challenged the monthly demand level of 1.0570 which had been previously […]
Since our previous analysis, gold has been sideways at the price of $1,216.60. According to the daily time frame, I found a reversal candle pattern, the Morning Star formation. Notice the volume on the bearish bar. It is very low, and this is a sign that sellers lost power and that reversal is possible. Stochastic […]
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6505. I found a strong base (bottoming) near the level of 1.6355. According to the 30M time frame, I found a sign of strength. There are few down bars but with weak closing (in the middle), which is a sign of strength. I […]
Global macro overview for 02/06/2016: The OPEC members meet in Vienna today, where they will try to solve the current growing tension between Saudi Arabia and Iran in constructive and polite manner. As we know, in the recent months, Iran has been stubbornly refusing to cut the output levels, preventing members from reaching an agreement […]
Global macro overview for 02/06/2016: The European Central Bank interest rate decision and Mario Draghi press conference are the main macro events of the day that are scheduled at 11:45am GMT. For the last two months the interest rates has been left at the level of 0.0% and today the market participants expect no change […]
General overview for 02/06/2016: Since the wave X top is at the level of 124.20, the Elliott wave progression develops just as anticipated. The wave (a) and wave (b) of the overall three wave downside move are now in place, so currently only wave (c) must be developed in order to complete the structure. The […]
Are any trading strategy backtest performance statistics predictive of out-of-sample results? In their March 2016 paper entitled “All that Glitters Is Not Gold: Comparing Backtest and Out-of-Sample Performance on a Large Cohort of Trading Algorithms”, Thomas Wiecki, Andrew Campbell, Justin Lent and Jessica Stauth compare backtest and out-of-sample performance statistics for 888 algorithmic trading strategies. They first screen a […]
Good morning!I was amused this morning to see on an American website, they were asking New Yorkers for their views on Brexit. One confused respondent asked, “Is it something to do with breakfast?”Is it affecting the markets much? Things feel a little more nervous this week. Looking at the small amp; mid cap indices for the […]
Good morning!I was amused this morning to see on an American website, they were asking New Yorkers for their views on Brexit. One confused respondent asked, “Is it something to do with breakfast?”Is it affecting the markets much? Things feel a little more nervous this week. Looking at the small amp; mid cap indices for the […]
Pounds Levels after Brexit Scare Morning Report: 06.30 London • This morning, the pound is on the rise after two days of selling sparked by referendum polls on EU membership narrowing. The EUR/GBP looks set for another day of gains, though. […]
Sir John Marks Templeton was an American-born British stock investor who was born in November 1912 and is well-known for his philanthropic work which is estimated to be more than $1 billion in value. Templeton was born in Winchester, Tennessee and graduated from Yale University in 1934 at the top of his class. He was […]
General overview for 02/06/2016: Another sub-cycle inside of the wave i black might be counted as the impulsive wave ( labeled as the wave -i- ), so now the market should develop a corrective cycle in wave -ii- . Nevertheless, the top of the wave (i) at the level of 1.3190 still hasn’t been violated. […]
Democratic presidential nominee Hillary Clinton is set to blast Republican presidential nominee Donald Trump over his friendliness with North Korea and his abrasiveness towards European allies during a foreign policy speech in California. Trump stated that he was ready to talk to Korean Leader Kim Jong-Un and convince him stop Pyongyang’s nuclear activities and criticized […]
The OPEC meeting being held in Vienna and European Central Bank’s meeting are causing stocks to struggle as investors are faced with new factors that could affect the global markets. Japan’s Nikkei drastically dropped after a jump in the yen while the European markets were flat. With interest rates firmly on hold, ECB will most […]
Crude prices hit above $50 as investors and analysts await the gathering of Organization of the Petroleum Exporting Countries in Vienna later in the day. OPEC member states are considering capping oil production, which is said to be supported by Saudi Arabia. But Iran’s opposition might derail the proposal. Brent crude for August settlement closed […]
Ahead of European Central Bank’s meeting, Greece’s borrowing costs trumped close to six-month troughs, implying the return of financing aid to Greek banks. Five-year note yields have stabilized at 7.57% on Wednesday, near six-month lows of 6.95% touched late this month. Five-year note yields have plunged more than 300 basis points in the three weeks […]
Shares in Hong Kong on Thursday marginally rose as investors remained cautious about the economic situation in China, and the effect of pending U.S. interest rate hike. The Hang Seng index gained 0.5 percent, to 20,859.22, while the China Enterprises Index rose 0.6 percent, to 8,756.38 points. Restaurant chain operator Tsui Wah Holdings Ltd.’s shares […]
British stocks rose this week for the first time, bouncing back from their lowest levels since May 23. The FTSE 100 Index increased by 0.4 percent. Standard Chartered led the banks higher, rising 2.6 percent after it said it is on track to achieve a cost-cut target of $1 billion. Barclays Plc and John Matthey […]
Technical outlook and chart setups: The EUR/JPY pair is seen to be trading at 122.20 levels after pulling back from 121.90 levels earlier. The wave structure indicates that the pair might be unfolding as an expanding triangle from 124.50 through 121.89 levels. It seems that it has completed its consolidation at the Fibonacci 0.786 support […]
Gold is trading above the $1,200 level and near the $1,220 short-term resistance. The price is expected to make a strong bounce towards $1,260 at least. However we might first see a small decline and a new low near $1,190 before this bounce. Black trend line – resistance trend line Blue lines – bearish channel […]
The dollar index has broken below the bullish channel. As expected, the dollar is weakening and sellers put pressure on the index. The price should continue lower over the coming days as a correction at current levels is justified. Blue lines – bullish channel The Dollar index is testing short-term support by the Kumo (cloud) […]
Technical outlook and chart setups: The GBP/CHF pair is seen to be trading at 1.4250/55 levels after bouncing off 1.4175 lows during early hours today. The pair seems to have formed an interim support at 1.4175 levels but should be looking to drop lower from the current levels or from 1.4300 levels. Please note that […]
Today’s main focus shifts to ECB rate decision. ECB is expected to keep rates unchanged and not signal further easing ahead. In the US, traders will be focusing on 2 FED member speeches to clues as to when a rate hike is more probable. Currencies: USDJPY dropped to 108.83 from 111.45 last week as stock […]
Svetlana Blackburn, a former Oracle senior finance manager, sued the company on Wednesday. She claimed that she was terminated in retribution for complaining about improper accounting practices in its cloud services business. The upper management attempted to force her to “fit square data into round hole” to make the business’ financial results look better, Blackburn […]
