Do simple moving averages (SMA) commonly used to identify stock market bull and bear regimes work similarly for the spot gold market? To investigate, we consider two market regime indicators: the 200-day SMA and a combination of the 50-day and 200-day SMAs. Because trading days for gold and stocks are sometimes different, we also check […]
Global macro overview for 18/05/2016: The crude oil Inventories data is scheduled for the release today at 02:30pm GMT. The market participants expect another draw down in stockpiles (-3,500k vs. -3,410k prior) and the price of crude remains at a 6-month high ($48.11 at the time of writing). The main factor that influenced the recent […]
Global macro overview for 18/05/2016: The most important event of the week has arrived as the market participants will have a chance to get an insight into the latest FOMC meeting minutes today at 06:00pm GMT. After the meeting on April 27, the Fed released a statement that downgraded some overseas risks, but admitted to […]
General overview for 18/05/2016: The corrective structure in wave (ii) green in form of the abc zig-zag pattern looks completed with a top at the level of 124.17. Currently, we should see the downward acceleration and intraday support level breakout. Nevertheless, please remember that the invalidation of this structure is at the level of 124.65. […]
General overview for 18/05/2016: The wave (ii) green might have been completed as a three-wave running flat structure, and now the market is developing an impulsive upward structure. If this assumption is correct, the next wave progression we should see would be an impulsive five-wave rally in sub-wave iii of the overall impulsive pattern. Any […]
This week it’s time to put the systematic side of my stock selection process to the test. The next stock I’m going to add to the Stock in Focus portfolio is packaging manufacturer Macfarlane Group. I’ve chosen this £80m small cap simply because it is the next-highest ranked stock in my stock screen that meets […]
Matthews International Capital Management LLC has appointed Sriyan Pietersz, a former JPMorgan Chase & Co executive, as investment strategist, the privately held company said. Pietersz will develop research focused on economic and political developments within ASEAN. He spent 11 years at J.P. Morgan Investment Bank, in which he focused on equity research and distribution. As […]
Kyodo, a domestic news agency in Japan, reported that Suzuki Motor Corp is suspected of using improper fuel economy testing methods in the country. The news agency said Osamu Suzuki, chairman of the automaker, is presenting a report to the Japanese transport ministry later in the day. The company did not comment on the matter. […]
Technical outlook and chart setups: Silver is seen to be trading at $17.03 levels. It can produce intraday rallies but remain in control of bears till prices remain below $18.00 levels. The metal dropped lower towards $16.80 levels before pulling back towards $17.40 levels as seen here. Please note that the metal might extend its […]
Technical outlook and chart setups: Gold is seen to be setting up for a continued drop towards $1,237.00 and lower levels. The yellow metal is trading at $1,272.00 levels at the moment, and might test $1,282.00 levels again before finally reversing lower. Please note that Gold remains a candidate to sell on rallies till prices […]
EUR/USD: This pair moved sideways on Tuesday – an insignificant thing in the context of a downtrend. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week. It could make the price go towards the support lines at 1.1250 and 1.1200. USD/CHF: The USD/CHF […]
Good morning!What an awful day yesterday! First all the problems with LAKE, which caused me a nasty financial loss first thing (but I’m pretty confident that’s money I’ll get back in due course). Then my article here corrupted, with the formatting going haywire. So a reverse midas touch day. Never mind.DX (Group) (LON:DX.)Share price: 20p (down […]
Good morning!What an awful day yesterday! First all the problems with LAKE, which caused me a nasty financial loss first thing (but I’m pretty confident that’s money I’ll get back in due course). Then my article here corrupted, with the formatting going haywire. So a reverse midas touch day. Never mind.DX (Group) (LON:DX.)Share price: 20p (down […]
USD/JPY is expected to trade in a higher range as the bias remains bullish.Overnight US stocks gave back the prior session’s gains, with the Dow Jones Industrial Average falling 1.0% to 17529, the S&P 500 losing 0.9% to 2047, and the Nasdaq Composite down 1.3% to 4715. Investors were discouraged by stronger-than-expected CPI growth in […]
The Dollar index continues to stay supported as only shallow pullbacks are seen when the bullish trend pauses. There is no deep correction yet, and this is another strength signal for the Dollar. Black line – support The Dollar index is holding above the kijun-sen which for now is the most important short-term support indicator. […]
Gold is trading inside a triangle pattern while now it is testing the lower boundary. If support fails to hold, then we should expect the price to test the important short-term $1,260 support. If this support fails, my target is $1,237 and the next one, below $1,200. Bulls need to retake $1,290 in order to […]
USD/CHF is expected to trade in a higher range and post some new gains. The pair stands firmly above its key horizontal support at 0.9770, which has been tested for at least 3 times. Both the 20-period and 50-period moving averages are turning up, confirming a positive outlook. Last but not least, the relative strength […]
Singapore’s Ministry of Trade and Industry said the country is going to release a detailed report on gross domestic product for the first quarter on May 25. In a statement, the ministry said the Economic Survey of Singapore covering the first quarter will be released at 8:00 am local time (0000 GMT). The central bank […]
About 90 percent of Morgan Stanley shareholders approved the compensation plan of the company. At its annual meeting in New York, Morgan Stanley said that based on a preliminary tally, the firm’s directors were elected with at least 96 percent votes in favor. The firm said two shareholders proposals on voting rules and vesting schedules […]
ANP, a Brazilian petroleum regulator, on Tuesday said that it gave state-led oil company Petroleo Brasileiro SA an extension to explore and produce oil from the Marlim and Voador offshore fields. It said it extended the leases for 27 more years. ANP said the extensions would help facilitate new investments in the fields that would […]
NZD/USD is expected to consolidate and then rise. The pair failed to break above its nearest resistance at 0.6845 yesterday and is now posting some consolidations. Even though a continuation of the consolidation cannot be ruled out at the current stage, its extent should be limited by 0.6760, which acts as a strong support and […]
GBP/JPY is expected to trade in a lower range as the bias remains bearish. Currently trading at 157.70, the pair has posted a pullback but remains below its resistance at 158.35. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The bias remains bearish, and a new down […]
In Asia, Japan will release the Prelim GDP Price Index y/y and Prelim GDP q/q. The US will release some economic data such as Crude Oil Inventories. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 109.47. Resistance. 2: 109.26. Resistance. 1: […]
USDX moved into a sideways tone on the H1 chart, trapped in the range established between the 94.61 and 94.35 levels. We should expect an advance toward the 94.81 level if bulls continue to reinforce the overall structure of this Index. Another scenario is still calling for a lower breakout at the 94.06 level. The […]
The pair had a bullish session yesterday, as we can see a gain’s consolidation above the 200 SMA on the H1 chart, which hovers around the support zone of 1.4430. A resistance can be found at the 1.4549 level, and if the Cable succeeds in breaking it to the upside, then we should see the […]
Wave summary: With a low at 1.6538, we are now looking for a break above the minor resistance line near 1.6675 to confirm that the correction from 1.6931 is over and a new impulsive rally towards 1.7254 is developing. In the short term, we expect that minor support at 1.6586 and, more importantly, support at […]
Wave summary: With a low at 122.93 or exactly the 78.6% correction of red wave [i], we expect red wave [ii] will be in place for the next impulsive rally above minor resistance at 123.55 and, more importantly, above resistance at 124.18 confirming a continuation higher towards 125.78 and above. The low at 122.93 should […]
When the European market opens, some economic news will be released such as the German 10-y Bond Auction, Final Core CPI y/y, and Final CPI y/y. The US will release economic data too such as Crude Oil Inventories. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL […]
The US government lifted the economic sanctions imposed on Myanmar, attributing it to the nation’s transition to democracy. However, the Obama administration stopped short of wider action because many companies and entrepreneurs are still blacklisted and concerns remain over the transition. US-ASEAN Business Council Director Anthony Nelson said the decision seeks to further trade flows […]
Qatar Airways hired American actress and singer Jennifer Lopez to promote the new Atlanta-Doha route, directly assaulting its main rival, Delta Air Lines Inc. JLo is awaited to stage a show at the Fox Theatre for Qatar Chief Executive Akbar Al Baker and visitors. Hours ahead of Lopez’s performance, Delta retaliated by announcing it won’t […]
