Japanese Prime Minister Shinzo Abe announced he will postpone the implementation of sales tax raise throughout the country, telling legislators from the Liberal Democratic Party it won’t be implemented until October 2019. Originally, the government sought to add 10% to consumption tax last month after a 5% increment unveiled in April 2014. Consumers might welcome […]
When the European Union and four major US internet firms agreed to halt illegal hate speech from their services, they are facing intense pressure to curtail and monitor content. Under the agreement, Facebook Inc., Google’s YouTube, Microsoft Corp., and Twitter Inc. will look into reports of hate posts within 24 hours and disable or revoke […]
China’s manufacturing activity contracted in May, contrary to official figures implying factories managed to retain its ground in April. The Caixin-Markit purchasing managers index dropped to 49.2 this month, previously 49.4. The country’s National Bureau of Statistics reported factory activity stabilized in May from 50.1 in April. Both new orders and output slightly decreased this […]
We have updated monthly asset class ETF momentum winners and associated performance data at Momentum Strategy. We have updated the Trading Calendar to incorporate data for May 2016. Related Posts:EUR/USD: Simple trading tips for novice traders on April… April 24, 2024 Trade analysis and advice on trading the European currencyThere was…GBP/USD: trading plan for the US […]
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 […]
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 […]
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 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 […]
The home page and “Momentum Strategy” now show preliminary asset class ETF momentum strategy positions for June 2016. Differences in past returns among the top places suggest that rankings are unlikely to change by the close. Related Posts:Video market update for April 24, 2024 April 24, 2024 Potential for the downside movement on the NAS100The material has…Video market update for April […]
Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6505 in a high volume. According to the 30M time frame, I found a potential double bottom formation. Be careful when selling and watch for potential buying opportunities. Take profit level is set at the price of 1.6585. if the price breaks the […]
USD/JPY is expected to trade with a bullish bias above 110.60. Overnight U.S. stock markets were closed on the occasion of the Memorial Day holiday.In Europe, the European Commission reported that the Eurozone Consumer Confidence Indicator rose to -7 in May (the same as previously estimated) from -9.3 in April. Besides, Germany’s CPI grew 0.3% […]
USD/CHF is under pressure. The pair stays below its key resistance at 0.9935 and looks for choppy price action with a bearish bias, as both the 20-period and 50-period moving averages are badly directed. Even though a technical rebound cannot be ruled out at the current stage, its extent should be limited. As long as […]
NZD/USD is expected to trade with bullish bias. The pair managed to break above its previous key resistance at 0.6705, which should confirm a bullish reversal. The 20-period moving average also crossed above the 50-period one. Besides, the relative strength index is heading upward without displaying any reversal signal. To sum up, as long as […]
GBP/JPY is expected to trade in higher range as bias remains bullish. The pair has accelerated on the upside and is currently supported by its rising 50-period moving average. The bias remains bullish, and further advance is expected with a challenge of yesterday’s high at 163.90 at first. However, if the pair turns down and […]
Since our previous analysis, gold has been trading upwards. The price tested the level of $1,214.08 in an average volume. According to the 30M time frame, I found a potential bearish flag formation. Watch for potential breakout of an upward channel to confirm further downward continuation. If the price breaks the level of $1,209.70, we […]
Good morning!It’s so difficult to get moving again after a Bank Holiday, isn’t it? The extra day off just seems to make me relax to a point where I grind to a halt completely! After an enjoyable brunch with investor friends on Sunday, I ended up binge-watching my favourite comedies (Big Bang Theory amp; Goldbergs) […]
Good morning!It’s so difficult to get moving again after a Bank Holiday, isn’t it? The extra day off just seems to make me relax to a point where I grind to a halt completely! After an enjoyable brunch with investor friends on Sunday, I ended up binge-watching my favourite comedies (Big Bang Theory amp; Goldbergs) […]
Global macro overview for 31/05/2016: The German unemployment data were released this morning and they were better than expected. The unemployment rate decreased from the level of 6.2% to the level of 6.1%, which is the lowest level since the reunification of Western and Eastern Germany. Data from the Federal Labor Agency in Nuremberg showed, […]
Does the U.S. stock market volatility risk premium (VRP), measured as the difference between the volatility implied by stock index option prices recent actual index volatility, usefully predict stock market returns? To investigate, we consider a simple VRP specification: S&P 500 Implied Volatility Index (VIX) minus standard deviation of daily S&P 500 Index returns over the past 21 trading days. […]
Overview: The USD/CHF pair movement was controversial as it took place in a narrow sideways channel for a while. The market showed signs of instability. Amid the previous events, the price is still moving between the levels of 0.9929 and 0.9895. The daily resistance and support are seen at the levels of 0.9972 and 0.9895 […]
Overview: The NZD/USD pair was trading around the area of 0.6713 a day ago. Today, the level of 0.6713 represents a daily pivot point in the H1 time frame. The pair has already formed minor resistance at 0.6730 and the strong resistance is seen at the level of 0.3673 because it represents the daily resistance […]
Global macro overview for 31/05/2016: The Friday’s remarks of FED Chairperson Jannet Yellen are still being digested by financial markets as dollar gains across the board and global indices are edging higher. Yellen’s rhetoric regarding the interest rate hike is still positive if “probably in the coming months” the economy and labor market situation gets […]
Jazz Pharmaceuticals Plc is set to acquire Celator Pharmaceuticals Inc., valued at about $1.5 billion, to have access to Celator’s investigational product in development for treating acute myeloid leukemia. In statement, the companies said Jazz Pharmaceuticals, which is based in Ireland, will pay $30.25 per share in cash for Celator. The deal represents a 72.6 […]
A magnitude 6.1 earthquake on Tuesday shook some parts of Taiwan including its capital, Taipei, residents and officials said. There were no reports of damage yet. The quake was originally recorded by the U.S. Geological Survey centered about 110 km (70 miles) northeast of Taipei, with a magnitude of 6.4. Taiwan’s Central Weather Bureau measured […]
This week we have crude oil prices climbing to $50 a barrel, while Gold plummeted to a 3-month low. Here’s What Happened: The price of crude oil surpassed the $50 a barrel level for the first time since October 2015 and reached $50.19. Since mid-February when it was trading at a 13-year low of $26.04 […]
General overview for 31/05/2016: The abc corrective cycle in wave ii might have been completed and now the market might try to breakout above the wave i top at the level of 1.3094 to continue to develop wave (iii) green. The invalidation line for this cycle is still at the level of 1.2836, a border […]
General overview for 31/05/2016: The black impulsive count was invalidated due to overlaps of wave one and wave two. This is against the Elliott wave rules. Therefore, the new Elliott wave count was prepared to incorporate the latest developments. First, let’s take a look at the 4H time frame count, where we can see that […]
Volkswagen AG reported profit dropped 20% in the first quarter of this year as the automaker continues to face the aftermath of diesel emissions test manipulation. Pre-tax profit declined to €3.2 billion ($3.5 billion), previously €3.97 billion ($4.41 billion) in the previous quarter. Also, sales revenue decreased to €51 billion ($56 billion). Chief Executive Matthias […]
Unemployment in Germany touched its lowest rate since reunification as market players are anticipating the European Central Bank’s meeting this week. Policymakers will convene in Vienna to evaluate if they are exploring all means to maintain an economic recuperation and determine the monetary policy in the region. The Federal Labor Agency said the number of […]
After an uneventful day in the FX markets yesterday, traders are preparing for some more volatility helped also by the many news releases ahead. Eurozone will release CPI & unemployment rate. German unemployment will also be featured. Canada will release GDP later today. US will release personal income and spending, S&P Case Shiller house price, […]
