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 21, after the GBP/USD pair moved below 1.4340, evident signs of a bullish recovery were expressed around 1.4075. Hence, previous weekly candlesticks closed above 1.4340 again. Bullish persistence above 1.4488 was mandatory to maintain enough bullish strength in the market. The first bullish target was seen at 1.4615 where the most recent bearish […]
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 […]
Overview: The NZD/USD pair set above strong support at the level of 0.7000, which coincides with yesterday’s bottom. This support has been rejected for four times confirming uptrend veracity. Hence, major support is seen at the level of 0.6955 because the trend is still showing strength above it. Accordingly, the pair is still in the […]
A survey by the European Central Bank showed that several banks are going for lower risk tolerance when it comes to lending for house purchases. It will be achieved by implementing stricter rules on determining who will receive home mortgages based on their credit standards. Banks in The Netherlands and Germany will tightened their policies […]
PepsiCo Inc. CEO Indra Nooyi said on Monday that sodas contribute only less than 25 percent to the company’s global revenue, and only 12 percent are brought in by their flagship Pepsi soda. Non-carbonated beverages such as bottled water and unsweetened drinks account for 25 percent of global sales, and when added to diet sodas […]
Vodacom, Vodafone’s South African arm, is deliberating on buying Broadband Infraco, an internet company owned by the South African government. The bid’s monetary information is not yet revealed, but Broadband Infraco was worth ZAR 2.1 billion ($146 million) in March 2014. Broadband Infraco has been unprofitable since its establishment in 2010. This comes after Vodacom […]
Overview: The USD/CHF pair faced strong support at the level of 0.9620 because resistance became support. So, the strong support has been already faced at the level of 0.9620 and the pair is likely to try to approach it in order to test it again. Also, it should be noted that the level of 0.9620 […]
Investor sentiment in Germany picked up pace this month, leading to the most moderate economic progression in the coming months. According to Centre for European Economic Research (Zentrum für Europäische Wirtschaftsforschung), the gauge of economic projections climbed to 11.2 points in April from 4.3 points in March. The measure of present economic conditions declined for […]
Bondholders in Puerto Rico are taking sides in Congress over a measure aimed at revitalizing the US territory from financial crumble. Legislators are rewriting the bill in order to have it passed, attempting to surpass defiance from both Democrats and Republicans in the United States. The measure would authorize the Caribbean island to write off […]
Anheuser-Busch InBev, which is in the process of buying rival SABMiller, said it accepted an offer from Japanese firm Asahi Group for Peroni and a group of other SAB beer brands. The brewery said the acquisition of the brands was conditional on the successful closing of its takeover of SAB. Asahi, which is looking to […]
In a TV interview, Russian central bank governor Elvira Nabiullina said the bank is ready to cut interest again if inflationary risks don’t materialize. The governor also said the central bank thought there’s presently no need for forex market interventions, but it would be ready if threats to financial stability occur. The material has been […]
Recently, EUR/NZD has been moving downwards. As I expected, the price reached our first take profit level at 1.6135. According to the daily time frame, I found that supply is still present in the market and buying at this stage looks risky. Anyway, successful breakout of pivotal point 1.6135 will confirm further downward continuation and […]
Are the backtests provided for alternative beta investment products representative of their future live performance? In their March 2016 paper entitled “Quantifying Backtest Overfitting in Alternative Beta Strategies”, Antti Suhonen, Matthias Lennkh and Fabrice Perez compare the backtested and live performances of alternative beta products offered by investment banks. The strategies underlying these products are formulaic and non-discretionary, designed to extract […]
Since our previous analysis, gold has been moving upwards. The price tested the $1,246.09 level in a ultra high volume. On the daily time frame chart, I found that a head and shoulders pattern (topping formation) is forming. I have placed Fibonacci retracement and found 38.2% at the $1,238.00 level (successfully held). On the 15M […]
Good morning!Vianet (LON:VNET)Share price: 109p (up 2.3% today)No. shares: 28.0mMarket cap: £30.5mTrading update – for the year ended 31 Mar 2016. This has reassured the market, hence the shares being up just over 2% today.Trading for the second half of the year has been as anticipated and, as a result, the Group’s full year profits […]
Good morning!Please note that Ed is doing a webinar this Thursday, at 12:30, to demonstrate the new international markets added to Stockopedia – with new regions added this week – Canada, Australasia, developed Asia, and India. More details are here. It’s certainly exciting to see Stockopedia developing into a global site!Europe and the USA are already […]
Good morning!Vianet (LON:VNET)Share price: 109p (up 2.3% today)No. shares: 28.0mMarket cap: £30.5mTrading update – for the year ended 31 Mar 2016. This has reassured the market, hence the shares being up just over 2% today.Trading for the second half of the year has been as anticipated and, as a result, the Group’s full year profits […]
Alibaba’s finance subsidiary, is gearing up for an initial public offering at the Shanghai Stock Exchange, sources told Bloomberg. Zhejiang Ant Small & Micro Financial Services Group Co. or Ant Financial, owned by Jack Ma, runs China’s most popular online payment system. A $60 billion dollar IPO is on the horizon should the company gets […]
Roche Holding AG, Europe’s biggest drugmaker, posted an upbeat first quarter profits. The company said on Tuesday that the group sales reached 12.4 billion Swiss francs ($12.9 billion) on Q1, marginally surpassing projections of 12.3 billion Swiss francs. Revenue during the period last year was only 11.83 billion Swiss francs. Overall sales of the pharmaceuticals […]
Global macro overview for 19/04/2016: China is the worlds biggest producer and consumer of gold. It has overtaken India as the largest consumer as rising incomes and surging economic growth boosted purchases of jewelry, bars, and coins. Recently they have started a daily price fixing in an attempt to establish a regional benchmark and expand […]
Companies vying to purchase stakes at the Chinese division of Yum! Brands Inc. are already lined up. China’s sovereign fund is currently backing a consortium of investors, which include Baring Private Equity Asia and US company KKR & Co., that plans to acquire as much as 100 percent of the company. People familiar with the […]
Rapid Oil Price Recovery Morning Report: 06.30 London • Oil prices staged a remarkable recovery yesterday, helped by a ‘risk rally’ that lifted the yen pairs higher. • The AUD/JPY saw the largest gains as […]
Global macro overview for 19/04/2016: The New York Fed President William Dudley spoke yesterday about the future Fed policy concerning the interest rates. In his opinion the current economic environment is highly in favor of a further rate hike, but the Fed remains cautious and data depended. He reiterated, that he was confident that too […]
General overview for 19/04/2016: The impulsive wave progression to the downside was invalidated due to wave 1 and wave 4 overlaps. Currently the main count points out a possible upward continuation as the new swing low might be in place. Break out above the technical resistance at the level of 124.21 supports the view. Support/Resistance: […]
General overview for 19/04/2016: The wave (b) top seems to be in place as the new low in this pair was made. Nevertheless, there is still one more lower low anticipated in this market before any meaningful correction to the upside would take place. Moreover, any breakout higher above the intraday resistance might result in […]
Hyundai Motor and Cisco Systems will team up to develop Internet-connected car technology, Hyundai said, as part of its push to develop “high-performing computers on wheels”. Many tech and carmakers are teaming up to develop technologies that could hook cars up to Internet. Hyundai Vice Chairman Chung Eui-sun met Cisco Chief Executive Chuck Robbins to […]
Office of the French President Francois Hollande said France signed deals worth around 2 billion euros with Egypt during the president’s visit to Cairo. Included in the deals was a satellite communications contract, after talks between the two presidents and their defense ministries, Elysee said. France’s Airbus Space Systems will build the military telecommunications satellite. […]
Elbit Systems, an Israeli defense electronics company, said its subsidiary at Australia has gotten a contract worth $30 million from the Department of Defence of Australia for thermal weapon sights supply, which will be carried out over 2 years. The XACTth65 is a small, lightweight product with high performance during day and night operations. Currently, […]
The Dollar index finally shows the deeper pullback I was expecting towards the important short-term support of 94.20. The bullish reversal scenario is valid as long as the price remains above 93.60. Soon we will know if bulls are strong enough to support the price. The Dollar index got rejected at the tenkan-sen (red line […]
