USD/JPY 4 hour The USD/JPY uptrend failed to break above the resistance and previous top at 110, which could indicate a potential double bottom reversal chart pattern. The bearish bounce could confirm a larger ABC (blue) correction if price manages to break below the support trend line (blue). In that case price could move towards…
I have previously covered Venezuela’s worsening economic situation, particularly in relation to its oil industry. More than a decade ago, after the late Hugo Chavez expropriated the assets of oil companies like ExxonMobil and ConocoPhillips (my employer at that time), I warned: It won’t take too long before everything is nationalized, and Chavez has no more coffers to…
USD/CAD broke below 1.2803 support, suggesting that the upside movement from 1.2526 had completed at 1.2997 already. Further decline could be expected after a corrective consolidation and next target would be at 1.2600 area. Resistance levels are at 1.2870 and 1.2997, only break above these levels could trigger another rise towards 1.3100.
Gold prices rose $8.86 an ounce on Thursday as a retreat in the dollar took some pressure off the yellow metal. The greenback eased after soft inflation data helped alleviate fears of faster interest rate hikes by the Federal Reserve. XAU/USD reached a strategic technical resistance in the $1322-$1320 area after the market found enough…
Dropbox, Inc. (DBX – Free Report) released its first quarterly financial results, posting earnings of $0.08 per share and revenues of $316.3 million. Currently, Dropbox is a Zacks Rank 3 (Hold), but that could change based on today’s results. Shares of the company have gained about 2.3% since its IPO, including a 1.9% gain during regular trading hours today….
Macroeconomic analysis is not about finding indicators and mindlessly listening to them. The game is difficult because the world is always changing. There might be a reason to discount (attribute less importance on) an indicator even after it has had a great track record of forecasting results. The better the indicator’s track record, the better…
Friday’s swing-trades: Take a look at three trading ideas to prep you for the next trading session. Long Oil States International (OIS) Long FedEx (FDX) Short WestRock (WRK)
Most Americans don’t know, but the housing market is heading toward another epic bubble. However, the bubble forming today is much different than the subprime housing meltdown in 2007. Back in 2007, there was an oversupply of homes, whereas today there is a shortage. With more buyers than sellers bidding up prices, the U.S. median…
AUD/USD is facing 0.7560 resistance. A breakout of this level would confirm that the downside movement from 0.7813 had completed at 0.7412 already, then next target would be at 0.7700 area. On the downside, as long as 0.7560 resistance holds, the bounce from 0.7412 would possibly be consolidation for the downtrend, and another fall towards…
To-date, I have been extremely skeptical of the meme of four rate hikes in 2018. I thought that Thursday’s “weaker than expected” increase in the April consumer price index (CPI) would further confirm my skepticism. Instead, I discovered that the 30-day Fed Fund Futures are pricing in a 47.4% chance of a fourth rate hike in…
