Overview The price continues forming strong obstacle against the USD/JPY pair’s positive attempts, which forces the price to fluctuate within a sideways track and show some slight negative trading. Stochastic continues attempting to gather the positive momentum in the daily time frame. In general, we will continue suggesting the bullish trend on the intraday and […]
Overview The silver price managed to end yesterday’s trading below the bullish channel’s support shown on the chart after the EMA50 formed a solid resistance barrier. It stopped recent positive price attempts, which supports the continuation of the bearish bias in the upcoming sessions, reinforced by stochastic negativity. Therefore, we still expect the bearish on […]
AUD/JPY is moving down and this tendency is likely to continue. The pair broke below the descending channel and found resistance at the channel breakout point R2 (80.55) At the same time, the price broke below the 38.2% Fibs support, which now is acting as a resistance and could be a starting point of the […]
According to the daily chart, EUR/JPY is clearly trending down. The pair rejected the 200D Moving Average and broke below the descending channel. Fibonacci applied to the channel breakout point shows that during this week pair rejected the R1 (124.00) resistance for several times and could now be ready to move lower once again. At […]
EUR/USD: This is a bear market, which would remain bearish as long as the EUR/USD pair is bullish. When momentum returns to the market (the market lacks momentum right now), it would most probably be in favor of bears. Then, the price might reach the support lines at 1.1150 and 1.1100. USD/CHF: The USD/CHF pair […]
Recently, EUR/NZD has been moving sideways at the price of 1.6570. According to the 30M time frame, I found trading range between the price of 1.6550 (support) and the price of 1.6635 (resistance). Watch for successful breakout of trading range to confirm further direction. If the price breaks the level of 1.6636, we may see […]
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 0.6760-0.6840 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 […]
Overview: The NZD/USD pair continues to move upwards from the level of 0.6699. Yesterday, the pair rose from the level of 0.6699 to the top around 0.6743. So, today the support is seens at 0.6700 (this level of 0.6699 coincides with the double bottom). On the other hand, the first resistance level is seen at […]
Since our previous analysis, gold has been trading downwards. As I had expected, the price tested the level of $1,211.46 in an ultra high volume. My take profit level at the price of $1,218.00 from yesterday was met. According to the 30M time frame, I found few up-thrust bars today and rejection from the 50 […]
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 […]
The quarterly revenue of the world’s largest retailer of video games, GameStop Corp, suffered a 4.3 percent decline, as sales of new gaming software and hardware fell. The company’s net income dropped to $65.8 million, or 63 cents per share, in the first quarter ended April 30, from $73.8 million, or 68 cents per share, […]
Adidas agreed to sell Mitchell & Ness, a U.S. sportswear seller, in a one-time gain in a low to medium double-digit million euro range, the German group said. Adidas said it would re-invest the sale proceeds into its “Creating the New” strategy. U.S. private equity firm Juggernaut Capital Partners owns the buyer, which is a […]
Stocks in the UK were little changed, with FTSE 100 Index set for its biggest weekly gain in six. Rio Tinto Group and Glencore Plc rose 1.5% as metal prices rose. Capita Plc declined 1.7% after Exane BNP Paribas worried about earnings and cut its rating on the shares to underperform, similar to sell, from […]
Are the “Simple Asset Class ETF Value Strategy” (SACEVS) and the “Simple Asset Class ETF Momentum Strategy” (SACEMS) mutually diversifying. To check, we relate monthly returns for the SACEVS and the SACEMS exchange-traded fund (ETF) selections and look at the performance of an equally weighted portfolio of the two strategies, rebalanced monthly (50-50). Specifically, we consider: SACEVS Best Value paired with SACEMS […]
Overview: The trend of USD/CHF pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. According the previous events, the trend is still trading between the levels of 0.9969 and 0.9858. Besides, the daily resistance and support are seen at the levels of 0.9969 and 0.9858 […]
Good morning!Several people have pointed out to me that a Director buy at Restaurant (LON:RTN) (announced today) could indicate that the company may not be in bid talks. I’ve decided to play it safe, and sell half my shares. That’s locked in a smashing 31% gain from when I flagged up this share as good value at the […]
It’s that time of the month again – NFP time! The Non-Farm Payroll figure – a measure of employment numbers in the U.S. – is being released Friday, June 3rd, and once again we’d like to invite you to participate in our @eToroExperience prediction promotion. In order to participate, all you have to do is login and leave […]
Global macro overview for 27/05/2016: Japan’s Consumer Price Index dropped for a second straight month in April to the level of -0.3% ( -0.4% expected; -0.1% prior). The national core consumer prices, which exclude fresh food, dropped 0.3% in April from a year earlier, equaling the multi-year low hit in March. In conclusion, deflationary pressures […]
A U.S. jury sided with Alphabet’s Google on Thursday in a copyright lawsuit against Oracle Corp. The jury said the law allowed the use of Oracle’s software to create Google’s Android smartphone operating system. The jury supported Google’s claims that its use of Oracle’s Java development platform was protected under the fair-use provision of copyright […]
Today’s data calendar will include the very important speech from Fed chairwoman Janet Yellen. The speech comes after several Fed members reiterated the high possibility of a summer rate hike which has helped boost the USD against all pairs except the GBP this week. US GDP will also be released. Overall the market has been […]
Global macro overview for 27/05/2016: The Durable Goods Orders data has been revealed recently and they were better than expected. According to the US Commerce Department, the orders for durable goods ( lasting more than three years) increased to 3.4% vs. 0.5% expected and 1.9% prior. Moreover, previously reported durable goods for March posted a […]
France’s President Francois Hollande on Friday said it would be a bad news for the global economy if Britain exits from the European Union. In a news conference after the Group of Seven leaders (G7) summit in Japan, Hollande said a Brexit would be economically bad for the UK, as well as the world. He […]
General overview for 27/05/2016: The wave c of the wave (ii) green had been terminated just above the intraday support at the level of 1.2892. The corrective structure looks completed now, but the low will be confirmed only if the golden trend line is violated from the downside and the intraday resistance at the level […]
Gold price made a new low yesterday as price remains inside the bearish channel. Gold is expected to make a bounce soon. The downside has not much more potential at this stage. Black line – long-term resistance Blue lines – bearish channel Gold price is still below the Kumo and inside the bearish channel. Resistance […]
Wave summary: We are still looking for a break above minor resistance at 1.6715 to confirm that a corrective low is in place at 1.6424 and a new impulsive rally to 1.6931 and 1.7223 is developing on the way higher to the 1.8420 target. However, as long as minor resistance at 1.6715 is able to […]
USD/JPY is expected to trade with a bullish bias. Overnight U.S. indexes were little changed after rallying 2% over the prior two sessions. The Dow Jones Industrial Average eased 0.1% to 17828, the S&P 500 was broadly flat at 2090, while the Nasdaq Composite was up 0.1% to 4901. Utilities, retail, and technology shares advanced, […]
Wave summary: We are still looking for a break above the resistance at 123.12 to confirm that a corrective low was seen at 122.23 and a new impulsive rally to 124.65 and above is developing. Short-term support is seen at 122.57, which ideally will be able to protect the downside for the break above 123.12. […]
USD/CHF is expected to trade with a bearish bias. The pair stays below its key resistance at 0.9925 and looks for choppy price action with a bearish bias. Meanwhile the relative strength index is still below its neutrality area at 50, and is mixed to bearish. Last but not least, the 20-period and 50-period moving […]
