Since our previous analysis, gold has been moving upwards. As I expected, the price tested the $1,270.00 level in a high volume. Anyway, the price rejected strongly from $1,270.00 and we saw a drop and testing of $1,243.65 in an ultra high volume. According to the daily time frame, I found a strong sign of […]
Policymakers showed support for the autonomy of the European Central Bank following President Mario Draghi lambasted German critics for criticizing the way he oversees the central bank. Earlier, German Finance Minister Wolfgang Schaeuble allegedly said Draghi should share the burden of the consequences of his monetary actions, which have impacted retirement plans. But the ECB […]
Officials from the eurozone and the International Monetary Fund said Greece has failed to strike a deal with lenders which would enable the country to obtain loans and ignite debt discussions. Eurogroup President Jeroen Dijsselbloem said people should not expect any agreement today. But he added the Greek government is making some progress on unlocking […]
NZD/CAC continues moving down today after producing new lower low. The Fibonacci applied to the first corrective wave up after the support breakout shows that price broke below 161.8% (R1), corrected sharply up to retest the R3 resistance. Currently, it is trading below R1. The overall trend is bearish and therefore it is recommended to […]
NZD/CHF formed a clear double top near the 0.6800 psychological resistance level. At the same time, the RSI oscillator is showing bearish divergence that could signal about a potential reversal or a correction down. Overall the ascending channel was previously broken and Fibonacci applied to the breakout point shows potential downside target levels. Today, price […]
USD/JPY is expected to trade with bullish bias. Overnight, US stock indexes retreated as investors found the latest results of some blue-chip companies disappointing. The Dow Jones Industrial Average dropped 0.6% to 17,982, the S&P 500 lost 0.5% to 2,091, and the Nasdaq Composite was down 2 points to 4,945. Nymex crude oil declined 2.3% […]
Yen Slips as Risk Appetite Returns Morning Report: 06.30 London • This morning, the Japanese yen is on the back foot, helping to lift all yen pairs. Risk appetite appears to have returned this morning, after general selling this morning. […]
USD/CHF is expected to post more gains. The pair stands above 0.9695 and remains on the upside. The rising 20-period moving average is playing a support role and maintains a positive bias. Meanwhile, the relative strength index stays above 50 and is positively oriented. Further upside is therefore expected with the next horizontal resistance and […]
Gervais Williams agreed to meet me for lunch at a brasserie around the corner from his offices in the shadow of St Paul’s Cathedral. From here it’s a stone’s throw to the London Stock Exchange on Paternoster Square. In his 30 year career in the City (he was an engineer before that) Gervais has been […]
Gervais Williams agreed to meet me for lunch at a brasserie around the corner from his offices in the shadow of St Paul’s Cathedral. From here it’s a stone’s throw to the London Stock Exchange on Paternoster Square. In his 30 year career in the City (he was an engineer before that) Gervais has been […]
NZD/USD is under pressure. The pair has been capped by its descending 20-period and 50-period moving averages and is looking for a lower bottom. Meanwhile, the relative strength index stays below 50. Even though a technical rebound is possible, its extent should be limited. The first target to the downside is set at the horizontal […]
GBP/JPY is expected to trade with bullish bias. The pair is currently testing its nearest support at 156.20, while the relative strength index lacks downward momentum. As long as 156.20 is not broken down, further upside is expected with the next horizontal resistance and overlap set at 159 at first. A break above this level […]
Subscribers have requested extension of the monthly return calculation cycle robustness test in “Optimal Monthly Cycle for Simple Asset Class ETF Momentum Strategy?” to portfolios other than the momentum winner (Top 1), which each month ranks the following eight asset class exchange-traded funds (ETF), plus cash, on past return and rotates to the strongest class: PowerShares DB Commodity Index […]
Overview: The USD/CHF pair was trading around the area of 0.9766 a day ago. Today, the level of 0.9809 represents a weekly resistance in the H1 time frame. The pair has already formed minor resistance at 0.9766 and the strong resistance is seen at the level of 0.9809 because it represents the weekly resistance 1. […]
Overview: The NZD/USD pair dropped sharply from the level of 0.7053 towards 0.6875. Now, the price is set at 0.6887 to act as a daily pivot point. It should be noted that volatility is very high for that the NZD/USD pair is still moving between 0.6823 and 0.6985 in coming hours. Furthermore, the price was […]
Global macro overview for 22/04/2016: The number of Americans applying for unemployment benefits unexpectedly declined last week, reaching its lowest level since 1973 (a 4-decade low). The data released yesterday revealed only 247K people were claiming unemployment benefits, whereas the market participants had expected 265K people, more than 256K a month ago. In conclusion, the […]
Global macro overview for 22/04/2016: The BoJ extended 24.4 trillion yen ($223 billion) of credit under the Stimulating Bank Lending Facility on April 10. Earlier this year, it had introduced the negative interest rate. Moreover, some of the BoJ officials said that the BoJ might have to help the financial institutions even father by offering […]
The finance and investments industry is very well represented in the Forbes 2016 World’s Billionaires list. In fact, 61 investors cracked the top-500 with net worth ranging from as low as $3.3 billion (Joan Tisch) to as high as $60.8 billion (Warren Buffett).[1] In the following article we take a look at ten of the […]
General overview for 22/04/2016: Five impulsive waves are now present on the chart and the market is in the corrective cycle. In that case, after the corrective cycle is completed, one more wave upward is expected before any meaningful correction will happen. Moreover, any breakout below the intraday support at the level of 123.35 will […]
General overview for 22/04/2016: The market is still trading below the neutral zone, but the corrective cycle to the upside might start any time now. 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 invalidate this scenario. […]
The Dollar index held above support yesterday, successfully re-tested the broken trend line resistance and bounced. The Dollar made an impressive bullish reversal and broke above short-term resistance and is showing signs of strength. This is not the time to be bearish in the Dollar. Black line – resistance trend line (broken) The Dollar index […]
Gold gave an important bearish signal yesterday. It initially broke above important resistance of $1,260 following the dollar’s weakness while ECB president Mario Draghi was at the scheduled press conference, but as time passed, the dollar firmed against the euro. Gold prices made a sharp reversal. Black lines – triangle pattern Gold remains above the […]
Wave summary: We have seen a nice little rally of the 1.6062 low, but the pair is not out of the woods yet. To confirm that a long-term bottom has been seen, a break above minor resistance at 1.6499 and, more importantly, a break above resistance at 1.6830 will be needed. That said, a break […]
The European Central Bank’s policy meeting barely caused a ripple in financial markets Thursday after the bank left interest rates unchanged.President Draghi is leaving the door open for more easing if necessary. He, however, did urge everyone to have a bit more patience and give the current measures time to work. He also added that […]
Wave summary: The red wave ii correction turned out to be an expanded flat correction, which tells us to expect an extended rally in red wave iii. This means a rally to at least 127.77 and possibly much higher as red wave iii gathers momentum. In the short term, we should see support at 123.77 […]
After seven months of operating in China, Apple’s iTunes Movies and iBooks were closed down last week. It was only today that the New York Times reported, citing insiders familiar to the matter, that the State Administration of Press, Publication, Radio, Film, and Television ordered the shutdown for undisclosed reasons. Apple Music is still up. […]
British bank Lloyd Banking Group will shut down 21 branches and remove 625 job positions. By downsizing its workforce, the firm aims to lower costs and sell its assets to increase revenues. Some of its employees will be deployed to its overseas offices such as India. The company announced in 2014 that they will cut […]
The Ministry of Human Resources and Social Security (MHRSS) said that there were 3.18 million new urban jobs by the end of the first quarter. Unemployment rate in urban areas was 4.04 percent, matching the government’s goal to keep it below 4.05 percent this year. Unemployment during the previous two quarters were unchanged at 4.05 […]
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 […]
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 (the upper limit of the recent […]
