Overview: The USD/CHF pair faced strong resistance levels around 0.9809 because support had become resistance last month. So, the strong resistance is seen at the level of 0.9809 and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of […]
Recently, EUR/NZD has been moving sideways at the price of 1.6370. According to the 1H time frame, I found testing of the upward diagonal (upward channel). According to 30M time frame, I found a shakeout bar in an ultra high volume. The bearish bar closed in the middle, this is a clear indication for me […]
Does adding crash protection based on global market breadth enhance the reliability of dual momentum? In their April 2016 paper entitled “Protective Asset Allocation (PAA): A Simple Momentum-Based Alternative for Term Deposits”, Wouter Keller and Jan Willem Keuning examine a multi-class, dual-momentum portfolio allocation strategy with crash protection based on multi-market breadth. Their principal goal is consistently positive returns, […]
Since our previous analysis, gold has been moving upwards. The price tested the level of $1,242.06 in a high volume. Anyway, the price rejected strongly from the level of $1,242.06. I found the broken upward diagonal. The breakout happened in a high volume and amid healthy price action, which is a good sign for further […]
Good morning!Sprue Aegis (SPRP) MeetingMeet the management of Sprue Aegis (LON:SPRP) tomorrow (27 April 2016).ShareSoc has arranged a meeting, as follows (click on the “Contact” link below to book yourself a place):Sprue Aegis Business Review. The directors of Sprue Aegis have agreed to answer ShareSoc Members questions following the recent trading statement (profit warning) and after the results announcement […]
Global macro overview for 26/04/2016: The API Crude Oil Inventories data is scheduled for release today at 08:30pm GMT and the expected number of stockpiles is at the level of 3,100K barrels. The drop in oil prices has influenced most of the countries that relay mostly on crude oil export ( Saudi Arabia, Bahrain, Qatar, […]
This week our Hot Topic is the Central Banks so let’s talk about what we need to be watching… With the European Central Bank doing little to clarify its policy outlook last week, the EUR/USD has remained uncertain. European markets were left depressed as trader’s discounted Mario Draghi’s comments over further ECB stimulus measures and […]
General overview for 26/04/2016: Currently, the market keeps trading in a very tight zone around the weekly pivot and below the intraday resistance at the level of 1.2749. The alternative count suggests that a more complex wave iv correction is still possible, however, any breakout above the intraday resistance at the level of 1.2749 would […]
Technical outlook and chart setups: Gold is seen to be trading at $1,232.00/33.00 levels for now, looking to drop lower towards $1,190.00 levels before turning bullish again. The yellow metal was stuck in a range lately and needs to find a clear direction. As depicted on the 4H chart, the yellow metal is seen to […]
EUR/USD: On April 25, 2016, this pair bounced upwards in the context of a downtrend. The downtrend is still a valid thing, therefore the upwards bounce could be seen as a selling opportunity, if the price does not go above the resistance line at 1.1400. Bears might target the support line at 1.1200 and 1.1150 […]
General overview for 26/04/2016: As anticipated yesterday the corrective cycle in wave 2 is not unfolding and the retracement can reach the projected level of 123.79 before any meaningful rally occurs. There might be some bullish intraday reaction at the intraday support at the level of 124.30, but the market should push lower towards the […]
Global macro overview for 26/04/2016: The German Ifo Business Climate sentiment dropped unexpectedly according to yesterday’s release. The market participants had expected 107.1 points for this month, but the indicator turned out to be at the level of 106.6. The main reason for the drop was an increasing level of concerns regarding the economic slowdown […]
Technical outlook and chart setups: Silver is seen to be drifting sideways since last 3 trading sessions, after having dropped from $17.70 levels last week. The metal is expected to drop lower towards at least $15.80 levels, before resuming its rally. Please note that the past resistance turned into support is also falling around the […]
Yen Builds Second Day Reversal Morning Report: 06.30 London • This morning, the yen pairs are staging a second day of reversals after Friday’s surge. The AUD/JPY is one of the biggest losers so far with half of Friday’s gains now undone. By contrast, the USD/JPY is holding its ground, with the EUR/JPY showing only […]
Hyundai Motor Company, a South Korean car manufacturer known for its sedans, revealed plunging global sales due to higher demand of sports utility vehicles (SUVs) especially in China. First quarter profits dropped by 12 percent year-on-year or 22.3 percent from the previous quarter. Its net income was 1.7 trillion won ($1.5 billion), down from last […]
Australian Prime Minister Malcolm Turnbull announced on Tuesday that the French government-owned shipbuilding company DCNS Group was chosen to build 12 new submarines for the Australian Navy. The contract is worth $40 billion (AU$50 billion). DCNS Group will build its 5,000-ton Barracuda nuclear-powered submarine with diesel-electric transmission for Australia. The submarines will be built in […]
Embattled car manufacturer Mitsubishi Motors has been using outdated testing methods on its vehicles’ fuel efficiency, a Japanese newspaper found out. The Nikkei, a Japanese business newspaper, cited business insiders who said that the company’s testing methods since the 1990s do not follow the Japanese government’s rules. These methods may have been used on more […]
The Dollar index continued its slide lower yesterday towards the 94.40 support. The price is steadily pushing lower towards the short-term support. The trend is mainly neutral as the price has been moving sideways for several days now, unable to break out of the 94-95.20 trading range. Black lines – sideways channel The Dollar index […]
Gold still remains inside the triangle pattern and there is no clear direction in the gold market right now. There are more chances of a deeper correction at least towards $1,190 but sellers still struggle to gain control of the trend. Black lines – triangle pattern Gold reached the 4-hour Kumo (cloud) resistance yesterday and […]
We’re continuing to see a little risk aversion in the markets on Tuesday, with investors adopting come caution ahead of this week’s key risk events, the Federal Reserve and Bank of Japan meetings. Oil and GOLD: US crude futures showed limited movement on Monday, continuing the lack of activity which marked the Friday session. US crude […]
USD/JPY is expected to trade in a higher range as the bias remains bullish. Last Friday, US stocks were mixed while technology shares were weighed down by disappointing results. The Dow Jones Industrial Average edged up 0.1% to 18003, the S&P 500 was broadly flat at 2091, while the Nasdaq Composite dropped 0.8% to 4945. […]
GBP/JPY is expected to trade with a bullish bias. The pair managed to hold above its horizontal level at 160.05, and is now challenging its next resistance at 161.70. A bullish breakout of this threshold seems more likely to occur, as the 20-period moving average is reversing up, and has also crossed above the 50-period […]
USD/CHF is expected to trade with a bullish bias above 0.9725. Despite the recent consolidation, the pair stands firmly above its nearest key support at 0.9725 and is likely to post a rebound on it. The relative strength index is mixed to bullish and lacks downward momentum. Furthermore, a strong support around 0.9725 should limit […]
NZD/USD is indicating choppy price action with a bearish bias. The pair remains under pressure below its key resistance at 0.6900 and is looking for a lower bottom. The intraday technical indicators are mixed to bearish. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The first target […]
Wave summary: We are still looking for a break above the important short-term resistance at 1.6499 to confirm that an important low was found at 1.6062. Short-term support is found at 1.6304 which ideally will protect the downside for the break above 1.6499 to confirm much more upside to come in the coming weeks and […]
Wave summary: No change in view here. We continue to look for a continuation higher towards 127.77 as the first upside target for red wave iii. Short-term support is seen at 124.81, but we must still allow for a more complex correction that could move as low as 124.27 before a break above 125.54 confirms […]
When the European market opens, no economic news will be released, but the US will release some economic data such as the Richmond Manufacturing Index, CB Consumer Confidence, Flash Services PMI, S&P/CS Composite-20 HPI y/y, Durable Goods Orders m/m, Core Durable Goods Orders m/m. So amid the reports, EUR/USD will move with low to medium […]
In Asia, today Japan will not release any economic data but the US will release some economic data such as the Richmond Manufacturing Index, CB Consumer Confidence, Flash Services PMI, S&P/CS Composite-20 HPI y/y, Durable Goods Orders m/m, Core Durable Goods Orders m/m. So there is a probability the USD/JPY will move with low to […]
On the H1 chart, USDX had a corrective session from last Friday’s highs, as the Index is looking to perform a rebound above the 200 SMA on this timeframe. If that happens during this week, then we can expect a breakout of those highs and eventually USDX may reach new monthly high levels. The MACD […]
GBP/USD is looking to trade at higher levels after a successful breakout above the resistance zone of 1.4401 and now we can expect some sideways consolidation before another key break to strength the bullish bias. If the cable succeeds in consolidating above the 1.4495 level, then we can see a rally toward the 1.4549 level. […]
