This week, the dollar started with a negative bias as the failed Doha meeting on oil production cuts triggered a risk-off trade in Asia.The US dollar continued to weaken head of the Fed meeting next week and this week’s ECB press conference is also of interest to traders. Oil and GOLD: Oil remains supported by the […]
Global macro analysis for 20/04/2016: The German ZEW data published yesterday was a big surprise for market participants. The main benchmark for the economic sentiment improved to the level of 11.2 from 4.3 a month ago, which was even better than the expected number of 8.2 points. This was a big improvement from the lowest […]
We are excited to announce that we are expanding our selection of commodities by adding two precious metals to the mix: Platinum (XPT) and Palladium (XPD) These two metals, though perhaps not as present in our daily lives such as silver and gold, are in high demand across various industries, including but not limited to: electronics, […]
Yen Demand Returns Morning Report: 06.30 London • This morning, the Japanese yen is back in demand, driving the yen pairs lower, especially the AUD/JPY which is tailing off from the highs after the latest crude oil surge faltered. […]
Global macro analysis for 20/04/2016: Yesterday’s Kuwait oil workers strike against wage and job cuts was terminated after mutual agreement. Moreover, the workers agreed to return the output to pre-strike levels which would be around 1.5 million barrels a day. As a result, oil production is now likely to remain high. This could put crude […]
General overview for 20/04/2016: Five impulsive waves to the upside might be labeled from the 121.71 bottom, which as well might be a first impulsive bullish trend rebound. Nevertheless, it is still too early to draw this kind of the conclusion as the market retraced only 38% of the previous swing down. Currently some kind […]
EUR/USD: It is safe to assume that the Bullish Confirmation Pattern was formed in this market. The EMA 11 has just crossed the EMA 56 to the upside and the Williams’ % Range period 20 is in the oversold region. Further northwards movement is expected on this pair this week. USD/CHF: This pair corrected lower […]
General overview for 20/04/2016: The wave (c) bottom might be in place, however the alternative count is still indicating a possible wave alt: iv in progress right now. The bulls would have to break out above the level of 1.2817 to confirm the bottom is in place. Moreover, any breakout above the intraday resistance might […]
The Dollar index made the deep correction I’ve been expecting and we should now see a bullish reversal. For this to be confirmed, we first need a break above 94.80 and then above 95.20. Black line – trend line resistance (broken) The price is below the cloud. The stochastic is oversold and turning upwards. The […]
USD/JPY is expected to trade in a higher range as the bias remains bullish.Overnight, US stocks were broadly higher at close, lifted by materials, energy and bank shares. However, technology stocks were weighed down by weak earnings. The Dow Jones Industrial Average gained another 0.3% to 18053, the S&P 500 also rose 0.3% to 2100, […]
Gold bounced yesterday towards resistance of $1,260 and got rejected as the price hit the upper triangle boundary. This rejection is a bearish sign. The price remains trapped inside the triangle pattern and as long as the price is below $1,260 I prefer to be bearish or neutral. Black lines – triangle pattern Gold is […]
USD/CHF is expected to trade with a bearish bias as key resistance is at 0.9645. Technically, the pair remains under pressure below its falling 50-period moving average, which plays a strong resistance role since April 18, 2016. In addition, the key horizontal resistance at 0.9645 also maintains the selling pressure. Last but not least, the […]
GBP/JPY is expected to trade in an uptrend as the bias remains bullish. The pair remains on the upside and is supported by its rising 50-period moving average. Meanwhile, the relative strength index stays above 50. Further upside is therefore expected with the next horizontal resistance and overlap set at 155.55 at first. A break […]
NZD/USD is expected to trade with further gains. The pair remains on the upside, backed by its rising 20-period and 50-period moving averages. The uptrend is strong and solid, as the relative strength index stands firmly above its neutrality area at 50, without showing any reversal signals. To sum up, as long as 0.6955 holds […]
Technical outlook and chart setups: Silver reverses from intraday highs at $17.20 levels today. The metal is seen to be trading at $16.92 levels after printing lows at $16.82 levels. Please also note that the metal is producing an engulfing bearish candlestick pattern on the 4H chart view, indicating a potential reversal ahead. The metal […]
Technical outlook and chart setups: Gold is seen to be trading at $1,246.00/47.00 levels for now, after having hit $1,256.00 levels yesterday. The metal has reversed from the fibonacci 0.786 retracement level of the drop from $1,262.00 through $1,207.00 levels earlier. Please note that the metal should remain poised to print lower lows from here, […]
Wave summary: We have seen a new low at 1.6062 which has been followed by a clear loss of momentum, but to confirm that a new low is in place a break above 1.6499 will be needed. As long as resistance at 1.6499 is protecting the upside, we will have to stay flexible and accept […]
Wave summary: The rally of the 121.69 low has been stronger than expected and displayed impulsive characters indicating that a bottom could be in place. If this is the case, then the coming decline from the 124.40 high will be in three waves and will halt above the 121.69 low for a new rally above […]
The short-term outlook is calling for more weakness, as the USDX is approaching a key bottom around the 93.79 level, but the price zone at 94.08 is blocking the bears’ advance. That’s why we would like to see a short rebound to re-test the ongoing highs from today’s Asia session and this idea is favored […]
GBP/USD has been trading into a very bullish tone above the support zone of 1.4318, after the Cable made a huge rebound from the 1.4278 level and now it’s expected to test the 1.4495 level, only if the GBP/USD does a rally toward the 1.4495 level. Our bullish outlook will remain there on a short-term […]
When the European market opens, some economic news will be released such as the German 10-y Bond Auction, German PPI m/m. The US will release economic data too such as Crude Oil Inventories and Existing Home Sales. So amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: […]
In Asia, Japan will release the Trade Balance and the US will release some economic data such as Crude Oil Inventories and Existing Home Sales. So there is a probability the USD/JPY will move with low to medium volatility during this day. TODAY’S TECHNICAL LEVELS: Resistance. 3: 109.70. Resistance. 2: 109.49. Resistance. 1: 109.29. Support. […]
Goldman Sachs Group’s revenue on all fronts registered a steep decline during the first quarter, the company announced on Tuesday. Its net income plunged by 60 percent to $1.14 billion or $2.68 per share, a very slim figure compared to last year’s $2.84 billion income ($5.94 per share). Revenues also ebbed by 40 percent to […]
Experian Plc, a credit data company, is set to acquire CSIdentity Corp, provider of consumer identity management and fraud detection services, for $360 million. Experian said the deal would add revenue worth about $120 million and earnings before interest and tax of about $30 million in the year ended March 31. Investcorp majority-owns CSIdentity at […]
Amidst record-low sales and a shift towards the Internet of Things, Intel will dismiss 12,000 people which accounts to 11 percent of its global workforce. The company said in a statement on Tuesday that its staff reduction will save them $750 million in 2016 and $1.4 billion by June 2017. Around 6,000 employees will be […]
The nomination committee of Toshiba Corp will meet on Wednesday to talk about the discussion of who to replace Chief Executive Masashi Muromachi, who would step down as early as June, the Sankei newspaper said. It is expected that one of the company’s 3 senior executive vice presidents would be his successor, with Yusuo Naruke […]
Japan’s exports declined for sixth straight months last month, attributing it to disappointing demand for electronic parts, sluggish Chinese economic growth, and firmer yen. The Ministry of Finance said exports skidded 6.8% in March from 4.0% slide in February. Year-over-year, exports to the United States slid 5.1%, to Asia 9.7%, and China 7.1%. But exports […]
Overview Gold price rallied higher strongly to breach the 1,237.25 level and settle above it. This supports continuation of our bullish trend expectations in the upcoming period. Therefore, the bullish bias will remain preferred on the intraday and short-term basis unless the price breaks the 1,227.40 level and holds below it.The way is open towards […]
Overview Silver price succeeded in breaching the 16.35 level to confirm continuation of the expected bullish trend on the intraday and short-term basis. This opens the way towards 17.08 that represents the next main target for the current bullish wave. Therefore, the positive trading will remain dominant in the upcoming period. It points that holding […]
Stocks Report: Bank of America Bank of America falling inside primary impulse wave ③ Likely to fall to 12.00 Bank of America has been falling in the last few […] The post HY Newsletter – Copper Broke Support Zone appeared first on | HY Markets Official blog. Forex Related Posts:Bitcoin finds support from a […]
