Technical analysis of USD/CAD for May 20, 2016

General overview for 20/05/2016: The wave iii of the wave (iii) is still in progress as the projected target has not been hit yet. For the internal sub-wave development the invalidation line is at the level of 1.2988; so as long as this level is not broken the market should rally higher towards the level […]

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Technical analysis of EUR/JPY for May 20, 2016

Technical outlook and chart setups: The EUR/JPY pair is seen to be drifting sideways between 122.50 and 124.00 levels respectively. The pair needs to break out of the cone structure depicted here and subsequently the immediate support or resistance levels to determine its next big move. Immediate resistance is seen at 124.50 levels, while support […]

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Technical analysis of GBP/CHF for May 20, 2016

Technical outlook and chart setups: The GBP/CHF has pushed higher against expectations taking stops earlier. The pair is seen to be trading at 1.4440 levels for now, still looking good to push through 1.4450 and subsequently 1.4709 levels. The wave structure indicates that the pair is now heading to complete its counter trend rally towards […]

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Why Everyone Loves Canadian PM Trudeau

Boyish good looks, natural charisma, and cool dude persona… What’s not to love about Canadian Prime Minister Justin Trudeau? As it turns out, there’s a lot more to the son of Canada’s longest-running and also well-loved former Prime Minister Pierre Elliott Trudeau than meets the eye. He’s a genuine humanitarian While the rest of the […]

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Unlikely Celebrities Who Trade the Financial Markets

The online trading revolution has clearly demonstrated that investing isn’t just for day-traders or Wall Street executives. Today, there are about 4 million retail forex traders around the world,[1] with many more investing in stocks, bonds mutual funds and other securities. As it turns out, celebrities are also active in this space. It makes perfect […]

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Panasonic: can move up investment for Tesla battery plant if asked

Head of Panasonic’s automotive and industrial systems division, Yoshio Ito, said the company is ready to move up its investment plans for Tesla’s battery plan if needed to meet the strong demand for the carmaker’s upcoming Model 3 sedan. The Japanese electronics company is planning to invest $1.6 billion of Tesla’s $5-billion “Gigafactory” in phases […]

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Technical analysis of Silver for May 20, 2016

Technical outlook and chart setups: Silver has dropped lower as expected and is now seen to have found support at the fibonacci 0.50% retracement levels of the rally between $14.80 and $18.00 levels respectively. The metal is seen to be trading at $16.50 levels and might drop to $16.00 levels before resuming its rally. Please […]

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Spain trade deficit falls 10.6 percent in March y/y – Economy Ministry

Spain’s economy ministry on Friday said the trade deficit of the country plummeted 10.6 percent in March from a year ago to 796 million euros ($893 million) as imports outshined exports. Spain’s exports declined 3.3 percent in March year-on-year to 22.44 billion euros, whereas imports were down 3.6 percent to 23.24 billion euros, the ministry […]

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Technical analysis of Gold for May 20, 2016

Technical outlook and chart setups: Gold has bounced off the fibonacci 0.618 support of the rally between $1,208.00 and $1,303.00 levels at $1,244.00/45.00 yesterday. The metal is seen to be trading at $1,253.00/54.00 levels for now, and it should be looking to continue the rally further towards fresh highs. Also please note that the metal […]

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Technical analysis of USDX for May 20, 2016

The Dollar index continues to trade in an uptrend. However, there are signs that a short-term reversal is coming so Dollar bulls should not forget to take profits from this upward move. Blue lines – bullish channel The price is above the Kumo (cloud) support and inside the blue bullish channel. The stochastic and RSI […]

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Technical analysis of Gold for May 20, 2016

Gold price has broken down yesterday as we expected towards $1,240 and bounced. Price stabilized for a few hours around $1,260-55 and then broke to new lows. Price is expected to move even lower as I believe the big correction towards $1,150 has started. Black line – resistance Gold price is below the Kumo (cloud) […]

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EU Bullet Report | OIL close to $50, volatility is back in Currencies

The financial calendar is light today with FED rate expectations dominating the moves in the market overnight. Yesterday Fed’s Dudley said that the US economy could stand a rate rise in June or July, however he also said that the UK referendum poses a risk to the fed’s rate outlook. On the data front, UK […]

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GM expands car-sharing service to Boston, Chicago, Washington

Car-sharing service Maven of General Motors will also be offered in Boston, Washington D.C., and Chicago, the company said. The service was launched 4 months ago, and has already started offering 30 vehicles at over 15 sites in Chicago for $8 per hour, including gas and insurance, the GM said. The automaker launched the app-based […]

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EgyptAir says Mediterranean Sea debris not from Flight 804 – CNN

CNN on Thursday reported that Vice Chairman Ahmed Adel of EgyptAir said the debris found in the Mediterranean Sea was not from Flight 804. Rescue worker saw lifevests and bits of plastic floating in the sea after the plane carrying 66 people disappeared from radar. “We stand corrected on finding the wreckage because what we […]

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U.S. Treasury’s Lew urges flexibility on Greek debt talks

Jack Lew, secretary of the U.S. Treasury, urged European policymakers to be flexible on Greece debt talks. The Treasury said the secretary made the comments in a meeting with Eurogroup’s head Jeroen Dijsselbloem at a Group of Seven summit in Sendai, northeastern Japan Lew also discussed progress in completing the first review of Greece’s economic […]

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Elliott wave analysis of EUR/NZD for May 20 – 2016

Wave summary: EUR/NZD, as has been the case for EUR/JPY, failed to rally after the break above minor resistance at 1.6675. This has prolonged the corrective decline from 1.6931, but as long as important short-term support at 1.6479 is able to protect the downside, the upside will remain in focus. To ease the current corrective […]

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Elliott wave analysis of EUR/JPY for May 20 – 2016

Wave summary: EUR/JPY failed to rally after the break above minor resistance at 123.64 indicating that a more prolonged zig-zag correction in red wave [ii] was unfolding. We are still expecting support at 122.61 will be able to protect the downside for a break above minor resistance at 123.78 confirming the next rally higher to […]

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Technical analysis of EUR/USD for May 20, 2016

When the European market opens, some economic news will be released such as the German PPI m/m. The US will release economic data too such as Existing Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Breakout BUY Level: 1.1256. Strong Resistance: 1.1249. Original […]

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Technical analysis of USD/JPY for May 20, 2016

In Asia, today Japan will not release any economic data but the US will release some economic data such as Existing Home Sales. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 110.57. Resistance. 2: 110.35. Resistance. 1: 110.14. Support. 1: 109.87. […]

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Daily analysis of USDX for May 20, 2016

USDX had a rest after the FOMC meeting’s rally during Wednesday’s session, and the Index is pointing to test the resistance zone of 95.68, where a breakout can happen to test the 96.14 level. However, Friday could be flat for the Index, and it can still look to correct the recent upward moves on a […]

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Daily analysis of GBP/USD for May 20, 2016

The pair has been trading into a bullish tone below the resistance zone of 1.4622, where we’re expecting a pullback toward the 1.4549 level. However, a deeper corrective move can happen, and that could be into a 50% Fibonacci retracement from the May 16th lows, the but bullish bias is still strong, and the Cable […]

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Elon Musk: It’s “probably unwise” to short Tesla shares

Tesla Motors CEO and visionary Elon Musk has warned investors against shorting his company, a bold statement amid the recent sharp downturn in Tesla’s share price. Musk – a South African-born Canadian-American business leader known for his outside-the-box thinking and incredible work ethic – was recently asked on Twitter what he would say to someone […]

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EUR/NZD analysis for May 19, 2016

Recently, EUR/NZD has been moving downwards. According to the 1H time frame, I found a downward channel. The price broke the upward diagonal and I am expecting a downward continuation. I placed Fibonacci expansion to find a potential target level. I got Fibonacci expansion 161.8% at the price of 1.6380. My advice is to watch […]

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The Trader Chart is BACK! And it’s Better than EVER!

We are happy to announce that we are introducing a new Trader Chart to give you additional information when deciding to copy a trader. The Trader Chart is a tool that helps you visualize the trader’s past performance and even use charting tools to perform technical analysis on the charted statistics, just like any other […]

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Gold analysis for May 19 , 2016

Since our previous analysis, gold has been downwards. As I expected, the price tested the level of $1,252.27 in a high volume. My downward target at the price of $1,256.00 has been met. A lower diagonal of the channel is on the test. We may see potential bullish correction but due to strong downward pressure […]

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Technical analysis of USD/CHF for May 19, 2016

Overview: The USD/CHF pair broke the resistance which turned into strong support at the level of 0.9771 yesterday. The level of 0.9771 coincides with the ratio of 50% Fibonacci. It is expected to act as a major support on the daily chart today. Consequently, The daily strong support is seen at 0.9771 and 0.9846. Moreover, […]

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Technical analysis of NZD/USD for May 19, 2016

Overview: The NZD/USD pair continues to move downwards from the spot of 0.6814 and 0.6754. Yesterday, the pair dropped from the level of 0.6814 to the bottom around 0.6720. But the pair has rebounded from the bottom of 0.6720 to close at 0.6754. Today, the first support level is seen at the levels of 0.6754 […]

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Binary.com Daily Market Report (19th May)

Euro & Pound Diverge Morning Report: 06.30 London • The euro remains pressured this morning after heavy selling on Wednesday amid speculation that the ECB will extend its easing program and general policy uncertainty. The move saw the euro sink against the dollar and especially against the pound.               […]

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Airlines, travel operators plummet as EgyptAir jet disappears

Shares of airlines and travel operators slumped as reports said the missing EgyptAir flight MS804 crashed. Flying from Paris to Cairo, unidentified officials disclosed the plane, carrying 66 individuals on board, suddenly waned in their radar after it get into the airspace. Search and rescue operations are ongoing, with Greece helping find the survivors. Thomas […]

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Gold slumps as investors perceive Fed rate hike

Gold prices plunged as traders sensed the Federal Reserve would increase interest rates next month. Minutes from the US central bank’s meeting in April indicated policymakers would consider raising rates in its June gathering. June gold closed at $19.40 an ounce, down 1.5%. July silver ended at $16.88 an ounce, down 2.6%. Declines came as […]

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