Technical analysis of EUR/JPY for May 12, 2016

General overview for 12/05/2016: The price reaction from the grey rectangular typical zone was promising and even the first impulsive wave might be labeled after the drop, but the market was to weak to break out below the important support at the level of 123.50. To confirm the reversal is true, the price must drop […]

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Technical analysis of USD/CAD for May 12, 2016

General overview for 12/05/2016: The downward wave progression is developing as anticipated, but the corrective pattern evolves towards z triple zig-zag. The projected tag for the wave c termination is still at the level of 1.2758, right at the technical support. Please notice that the price is starting to diverge from the momentum oscillator, so […]

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Trader Fact File Jesse Lauriston Livermore

Born in July of 1877, Jesse Lauriston Livermore was an American stock trader who boasted nicknames such as the Great Bear of Wall Street and the Boy Plunger. Throughout his career Livermore saw his fair share of ups and downs, making and subsequently losing many millions of dollars in various ventures. Livermore sadly committed suicide […]

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Technical analysis of NZD/USD for May 12, 2016

NZD/USD is expected to trade with a bullish bias above 0.6790. The pair remains on the upside, backed by its rising 50-period moving average, which now acts as a support role, and should maintain a positive bias. Even though a continuation of the consolidation cannot be ruled out at the current stage, its extent should […]

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Technical analysis of GBP/JPY for May 12, 2016

GBP/JPY is expected to trade with a bullish bias above 123.20. The pair is moving sideways around its 20-period and 50-period moving averages and stands above its support at 156.35. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Further upside is expected with the next horizontal resistance […]

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Global macro overview for 12/05/2016

Global macro overview for 12/05/2016: The Westpac-Melbourne Institute Consumer Sentiment Index jumped 8.5% in May to a January-2014 high of 103.2, after sliding to a seven-month low of 95.1 in April. This largest single increase since June 2010 was caused by the earlier rate cut by RBA , which improved the overall confidence of Australian […]

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Global macro overview for 12/05/2016

Global macro overview for 12/05/2016: The main event of the week is the Bank of England interest rate decision and monetary policy summary, which is scheduled for release at 11:00am GMT today. Market participants expect no change in the key interest rate as it should stay at the level of 0.50%, together with the asset […]

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Elliott wave analysis of EUR/NZD for May 12 – 2016

Wave summary: It’s not yet clear whether a direct rally towards 1.7052 and higher to 1.7273 is developing or a more complex structure is developing before the rally higher can take place. A break below support at 1.6592 will confirm the more complex structure calling for a series of waves. But ultimately more upside pressure […]

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Elliott wave analysis of EUR/JPY for May 12 – 2016

Wave summary: The correction in red wave [iv] turned into a triangle consolidation and should ultimately thrust higher towards 124.73 and maybe even slightly higher to 125.09 before terminating wave i and setting the stage for a correction back towards the 123.58 – 124.00 area. In short term, the triangle still needs a few more […]

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Technical analysis of EUR/USD for May 12, 2016

When the European market opens, some economic news will be released such as Industrial Production m/m, French Final CPI m/m, and German WPI m/m.The US will publish the economic data too, including 30-y Bond Auction, Natural Gas Storage, Import Prices m/m, Unemployment Claims. So amid the reports, EUR/USD will move low to medium volatility during […]

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Technical analysis of USD/JPY for May 12, 2016

In Asia, Japan will release information on the Economy Watchers Sentiment indicator, 30-y Bond Auction, Bank Lending y/y, the BOJ’s Summary of Opinions, and Current Account. The US will release some economic data such as 30-y Bond Auction, Natural Gas Storage, Import Prices m/m, and Unemployment Claims. So there is a probability that the USD/JPY […]

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Daily analysis of USDX for May 12, 2016

On the H1 chart, the USDX found dynamic support at the 93.80 level, where we could expect a rebound towards the 94.06 level, if the 200 SMA holds in coming days. However, the overall bullish bias is still solid and maybe the coming corrections could be catalysts for further bullish strength. The MACD indicator is […]

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Daily analysis of GBP/USD for May 12, 2016

GBP/USD continues trading slow in a sideways range, but still trapped below the 200 SMA and dominated by the bearish bias. If pair does another rebound at the current levels and spikes towards the resistance zone of 1.4549, it could break that level for further advance to the 1.4635 level. The 200 SMA remains flat […]

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Razak stepson uses 1MDB funds to acquire US properties – source

Malaysian Prime Minister Najib Razak’s stepson was accused of disbursing at $50 million from 1Malaysia Development Bhd. in order to buy luxury properties in Los Angeles and New York in the United States. According to people knowledgeable about the matter and documents, Riza Aziz purchased a 7,700-square-foot duplex in Park Laurel condominium amounting to $33.5 […]

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Cameron unveils UK property rule amendments

Seeking to topple corruption worldwide, Prime Minister David Cameron announced foreign entities with properties in the United Kingdom are mandated to publicly declare their assets, saying they need to be on a new register. The British premier made the announcement as world leaders are heading to a the Lancaster House summit in London aimed at […]

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Turnbull, Obama discuss steel supply glut via phone

The White House said Australian Prime Minister Malcolm Turnbull and US President Barack Obama talked via phone the steel supply glut around the globe. In a statement, the Obama administration the two leaders recognized the necessity to contend with steel supply glut worldwide. Turnbull and Obama also discussed various defense and economic matters. This year, […]

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USD/CAD intraday technical levels and trading recommendations for May 11, 2016

A bullish breakout above the previous consolidation zone between 1.2400 and 1.2800 was performed on July 15 (shown on the weekly chart). A significant bearish rejection was observed around 1.3450. Hence another consolidation range was established from 1.3450 down to 1.2800. On December 7, a bullish breakout above 1.3450 (upper limit of the recent consolidation […]

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NZD/USD intraday technical levels and trading recommendations for May 11, 2016

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 above a few weeks ago. Bullish persistence above 0.6550 (depicted recent support) was necessary to keep the price moving towards higher bullish targets. The price zone of 0.6750-0.6840 constituted a significant […]

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HY Newsletter – Silver Reversed From Support Zone

Stocks Report: Google Inc Google completed minor ABC correction 2 Likely to rise to 730.00  Google recently reversed up from the support zone lying at the intersection of the pivotal […] The post HY Newsletter – Silver Reversed From Support Zone appeared first on | HY Markets Official blog. Commodities Related Posts:Technical analysis on Silver […]

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Intraday technical levels and trading recommendations for GBP/USD for May 11, 2016

Since January 2016, bullish persistence above 1.4500 was mandatory to maintain enough bullish strength in the market. However, as 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 […]

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Intraday technical levels and trading recommendations for EUR/USD for May 11, 2016

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 […]

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EUR/NZD analysis for May 11, 2016

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.6656 in a high volume. According to the 1H time frame, I found a volume spike (selling climax in the background). I was a bearish bar in an ultra high volume but it closed well of the low, which indicates strength. I also […]

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Gold analysis for May 11, 2016

Since our previous analysis, gold has been moving upwards. As I expected, the price tested the level of $1,274.32 in a high volume. According to the 30M time frame, I found that strength came in near the level of $1,270.00. According to the 15M time frame, I found the inverted head and shoulders formation (bottoming). […]

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Stock in Focus portfolio: double dipping with GlaxoSmithKline and Somero Enterprises

It’s too soon to say how the Stock in Focus portfolio will perform, but one thing that’s clear at the moment is that the stocks which qualify for my screen are disproportionately weighted in a few sectors. As I write, 16 of the 20 shares which qualify for my screen are either consumer cyclicals or […]

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Technical analysis of NZD/USD for May 11, 2016

Overview: Yesterday, the NZD/USD pair dropped sharply from the level of 0.6816 towards 0.6715. But the pair has rebounded from the bottom of 0.6715 to close at 0.6820. Now, the price is set at 0.6790. On the H1 chart, the resistance is seen at the level of 0.6816 and 0.6870. It should be noted that […]

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Technical analysis of USD/CHF for May 11, 2016

Overview: As expected the USD/CHF pair continues to move upwards from the level of 0.9694. Yesterday, the pair rose from the level of 0.9694 to the top around 0.9766. Today, the first resistance level is seen at 0.9821 followed by 0.9917, while daily support 1 is seen at 0.9694. According to the previous events, the […]

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Credit Spread as a Stock Market Indicator [PREMIUM]

A reader commented and asked: “A wide credit spread (the difference in yields between Treasury notes or Treasury bonds and investment grade or junk corporate bonds) indicates fear of bankruptcies or other bad events. A narrow credit spread indicates high expectations for the economy and corporate world. Does the credit spread anticipate stock market behavior?” […]

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Technical analysis of CAD/CHF for May 11, 2016

CAD/CHF found the bottom at 0.7420, after which it moved higher producing higher high and higher low. At the same time, the pair broke above the downtrend trendline with the 4H close above it, suggesting that rate might be ready to move higher. There are two very strong resistance areas formed by the price that […]

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Technical analysis of AUD/JPY for May 11, 2016

AUD/JPY formed a massive support area around 79.80, while on the top there is strong resistance around 86.00 and AUD/JPY is clearly ranging between these levels. The RSI oscillator formed a bullish divergence on the 4H time frame and the pair is currently trading right in the support area. This could be the signal the […]

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