The Dollar index has started a bullish reversal. This reversal will be big as long as we hold above the 91.90 lows. This reversal has the potential to bring the index even towards 96-98 but it is still too early to tell. For now we have an impressive daily bullish hammer pattern and if this […]
Gold pulled back towards our support area of $1,270 yesterday and is now trading $10 higher. The trend remains bearish in the short term, and this is the opportunity to go long for aggressive traders as I mentioned a few days back when the price was at $1,293. Personally I prefer to be neutral in […]
Elon Musk said on Wednesday that the company aims to create 500,000 units of its Model 3 by 2018. This will be paired with heavier capital spending when production starts in 2017. The Model 3 sedan was launched in March 31. Capital spending is expected to reach $2.25 billion, almost 50 percent higher than last […]
The Murdoch-led media company saw a 5.7 percent rise in revenue to $7.23 billion in the first quarter. Matching Wall Street analysts’ estimates. Cable network revenues, which include Fox News Channel and FX, reached $3.94 billion. Aside from extensive presidential campaign advertisements, the solid ratings of miniseries The People v. O.J. Simpson starring David Schwimmer […]
USD/JPY is expected to trade in a higher range as the bias remains bullish. Overnight US stock indices continued to drift lower, weighed down by reignited concerns over global growth and weaker-than-expected ADP private payrolls data. The Dow Jones Industrial Average declined 0.6% to 17651, the S&P 500 dropped 0.6% to 2051, and the Nasdaq […]
Mitsubishi is facing another headache as its representative in Brazil was convicted on Wednesday for financing a corruption scheme involving lobbyists and government officials. Robert de Macedo is the president of MMC Automotores, a Mitsubishi subsidiary that assemble and distribute its vehicles in Brazil. Macedo received four years and two months of jail time for […]
USD/CHF is expected to trade with a bearish bias. The pair stands firmly above its key horizontal support at 0.9530 and is likely to post further advance to 0.9605 at first. The relative strength index is mixed to bullish, and also lacks downward momentum. The rising 50-period moving average plays well a support role. Therefore, […]
NZD/USD is under pressure. The pair remains under pressure below its key resistance at 0.6945. Even though a technical rebound cannot be ruled out at the current stage, its extent should be very limited. Besides, both the 20-period and 50-period moving averages are still heading downward, which should confirm a bearish outlook. The relative strength […]
GBP/JPY is expected to trade in a lower range. The pair remains weak and is likely to challenge its nearest support at 154.40 in sight. The risk of a slide below this threshold remains high, as the falling 50-period moving average maintains strong selling pressure and should push the prices lower. In this case, as […]
Technical outlook and chart setups: Gold has formed a bottom around $1,271.00/72.00 levels yesterday before turning higher again. Please note that the metal has bounced off the fibonacci 0.382 support as expected and discussed earlier. The recent drop can be labelled as corrective wave 4, according to the wave structure. A high probability remains for […]
Technical outlook and chart setups: The EUR/JPY pair seems to be pushing above 123.00 levels at this moment, looking to rise through 124.50 levels at least before reversing lower. The pair is expected to remain in control of bears till the prices stay below 126.40 levels for now. At present, the pair has faced resistance […]
Technical outlook and chart setups: Silver is seen to be trading at $17.45 levels at this moment after having bounced off the fibonacci 0.618 retracement levels as depicted here. The metal might be looking to continue higher towards $18.40/50 levels, which are a major resistance on the weekly chart (not seen here). The metal has […]
Wave summary: We now have a clear break above the red resistance line from 1.7223 confirming that wave [iii] of 3 is developing, so it should only be a question of time before the real upside acceleration is seen. This is the part of the impulsive wave where the prices rally so strongly that it […]
Technical outlook and chart setups: The GBP/CHF is seen to be trading at 1.3900/10 levels, unchanged from yesterday. But please note that the pair has re-tested lows at 1.3815/20 levels and bounced back. This might be an indication of an intermediary bottom formation and a potential rally towards 1.4700/50 levels as discussed yesterday. Please also […]
Wave summary: The big question remains whether or not an important bottom is in place at the 121.66 low. The rally of the 121.66 level is in no way impressive, which raises the odds of one more decline below 121.66 for a move closer to 117.99. That said, it will not take much to secure […]
EUR/USD: This pair went down by 150 pips at the start of this week and later got corrected lower after testing the resistance line at 1.1600. The correction is significant, since the Williams’ % Range period 20 is now sloping downwards, but the EMA 11 is still above the EMA 56. Would this be a […]
USDX continues to move sideways, but it’s still trading into a corrective tone above the support zone of 92.91. The H1 chart is showing us that the price is close to the 200 SMA, where it could pull back to resume the decline. However, if the Index succeeds in breaking the support level of 92.91, […]
The H1 chart structure is calling for a short-term bearish consolidation below the 200 SMA on the H1 chart, after the pair found resistance around the 1.4549 level. Rebounds can happen in coming hours as the Cable needs to perform bigger corrective moves from the decline held since the May 3rd session. The MACD indicator […]
A Chinese solar equipment company signaled the potential failure to pay 1.4 billion yuan ($215.2 million) on holders of five-year note that will mature on May 12. Baoding Tianwei Yingli New Energy Resources Co., Ltd, a subsidiary of Yingli Green Energy Holdings Co., Ltd, said successive losses led to their decision. The warning was posted […]
Asian shares recorded its longest losing run in nearly five months as it declined for seventh consecutive days on escalating global economic growth anxieties. The MSCI Asia Pacific Index closed at 405.69, down 0.4%. The Shanghai Composite Index lost 0.2%. The Hang Seng China Enterprises Index lost 1.2%. Hong Kong’s Hang Seng Index slipped 0.8%. […]
Hong Kong’s manufacturing activity constricted in April, experiencing a rough year for the sector, as new orders and outputs at the city’s businesses declined further. Official figures showed the Nikkei Hong Kong purchasing managers’ index dropped to 45.3 last month from 45.5 in March. New orders from China slumped for the 21st straight month, which […]
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 […]
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 […]
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), the next demand level located at 1.3845 (historical bottom that goes back to March 2009) provided a significant bullish rejection […]
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 […]
CHF/JPY is clearly trending down especially after quite a clean bound of the 200 Moving Average in 4H time frame. It managed to break below the massive support area near 112.00, and price returned back to re-test this area after the breakout. The Fibonacci applied to the first corrective wave after the breakout pointing out […]
Riders can pay using Alibaba’s e-payment system Alipay in 400 cities in 69 countries where Uber is available. Before this, Chinese riders traveling abroad are charged in US dollars and are required to use a dual-currency credit card. Uber and Alibaba will bring their cross-border partnership to India soon through Patym, the country’s largest payment […]
Clothing retailer Aeropostale filed a chapter 11 bankruptcy in a New York court on Wednesday, ending years of downtrend sales dismal revenues. The company was also delisted by the New York Stock Exchange on April 21. It reported assets within a $100 million to $500 million band, while its liabilities are within the same range. […]
Overview: The NZD/USD pair continues droping from the level of 0.6914 in the short term. It should be noted that the resistance is established at the level of 0.6914, which represents a daily pivot point on the H1 chart. The price is likely to form a double top in the same time frame. Accordingly, the […]
Recently, EUR/NZD has been moving upwards. Te price tested the level of 1.6693 in a high volume. According to the 1H time frame, I found weakness near the price of 1.6690. I found an up-thrust bar (supply overcame demand) and a potential double top formation. According to the 15M time frame, I found few signs […]
