The Fibonacci numbers are a sequence of number ratios which are used to pick out repetitive sequence of events on the forex charts. They were first described by Leonardo Fibonacci. The number sequences are generated by adding a number to a previous number to get a third number, and continuing the process to get a…
Gold prices hit their highest level since June 6 during today’s Asian session as investors continued to price in diminishing prospect of an interest rate hike from the Federal Reserve this year. The latest signs of sluggishness in the U.S. economy stoked speculations that the timing for the lift-off could be delayed to December or…
How the mighty have fallen! Last week, one of the world’s commodities giants, Glencore Plc (GLNCY), experienced a major blow. On September 28, its stock collapsed by 30%. The reason? The company’s very heavy debt load in the face of still falling commodity prices. The former commodities trading giant went public in a $60-billion…
Australia and Japan are two island nations that have been battered by the equities rout in China. Japan has its own set of challenges which it is trying to address under the economic stimulus program known as Abenomics, while Australia battles declining commodity prices as a result of structural weakness in China, declining global demand,…
Yesterday’s mostly counter-trend moves ended abruptly. A second governor of the Federal Reserve voiced opposition to the intimation by Yellen and Fischer, and several regional presidents that the a rate hike is still appropriate this year. This helped renew the downside pressure on the dollar. It is lower against all the majors and most…
China’s cooler than expected inflation numbers brought Asian stocks down Tuesday while producer prices continued their slide to a 43rd straight month. The consumer price index (CPI) rose 1.6 percent in September from a year earlier, the National Bureau of Statistics (NBS) said on Wednesday, lower than expectations of 1.8 percent and down from August’s…
If the Federal Reserve is truly “data dependent,” then the data just keeps undermining its case for an interest rate hike this year. Wholesale inventories rose in August, and sales fell, flashing a recessionary warning sign. According to the Associated Press, the Commerce Department reported wholesale inventories rose 0.1% in August, while sales fell a full…
T2108 Status: 59.9%T2107 Status: 27.8%VIX Status: 17.7 (small bounce off 200DMA)General (Short-term) Trading Call: Neutral (target of 1996 on the S&P 500 occurred ahead of overbought conditions. See “From the Edge of A Breakout to the Ledge of A Breakdown” for more details).Active T2108 periods: Day #8 over 20%, Day #7 over 30%, Day #7…
EUR/USD Signal Update Yesterday’s signals were not triggered. Today’s EUR/USD Signals Risk 0.75% Trades may only be taken between 8am and 5pm London time today. Long Trade 1 Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of the supportive trend line currently sitting at around 1.1370….
(Video length 00:01:55) During the session on Wednesday, we have employment numbers coming out of the United Kingdom as well as retail sales information coming out of the United States. Because of this, we could see a bit of volatility and as a result it should be interesting to watch the US dollar and the British pound in…
