A bearish trend is present in USD/JPY currency pair, 15 minutes chart. The price of USD/JPY currency pair is going to drop now on a short-term basis to create a Bearish Zig Zag corrective Elliott wave pattern and Spot Forex traders should consider taking a possible sell trading chance. Strong key resistance level is present…
Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 1.3% while the Hang Seng is up 0.2%. However, the Shanghai Composite is trading down by 0.5%. Overnight strong corporate earnings helped US stocks closed with gains. Meanwhile, Indian share markets have opened the day marginally up. BSE-Sensex is trading higher by 42 points and NSE-Nifty is…
Throughout much of last year, we were told repeatedly that the PBOC was tightening monetary policy. China’s central bank had raised its reverse repo rate twice early on, and then once more last December (and would do so again just last month). These moves coincided with Federal Reserve “rate hikes”, seemingly in line with the…
Discretionary outlook based on charts Bitcoin is capped by its 50 sma resistance and making lower highs. Ethereum is stuck on its resistance trendline. Ripple and Bitcoin Cash are turning prior support into resistance. 2:29 am. Bitcoin is capped by its 50 sma resistance and making lower highs. Bitcoin is stuck in a bearish pattern of…
Gold prices proved to be remarkably resilient yesterday, finishing the day with a narrow increase despite a recovery in the US Dollar and a steepening of the priced-in Fed interest rate hike outlook. Those forces might have been expected to weigh on the perennial anti-fiat and non-interest-bearing asset. The yellow metal saw a bit of selling…
GBP/USD 4 hour The GBP/USD made a strong bearish retracement at the previous top (red). Price could either be building a bearish reversal after it completed bullish waves 5 or it could keep pushing for one higher high. A bullish breakout could see price make an extension towards the round level at 1.45 whereas a…
USDCAD broke below 1.2544 support and extended its downside movement from 1.2943 to as low as 1.2526. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2450 area. Only a clear break above the trend…
Times have been hard for Wall Street banks lately, what with record amounts of cash pouring in and causing all kinds of bookkeeping headaches. So — big-hearted people that we are — Americans stepped up and helped by lowering the banks’ taxes. From Today’s Wall Street Journal: The Four Biggest U.S. Banks Made $2.3 Billion…
Wednesday’s stock picks: Long Fifth Third Bancorp (FITB) Long Veeva Systems (VEEV) Short Rexnord (RXN)
WTI Crude Oil The WTI Crude Oil market has been very noisy during the trading session on Tuesday, going back and forth, but it appears that the $66 level is going to offer support enough to turn things around and cause a bit of a bounce. I believe that the market is starting to show…
