After two weeks of declines, USDJPY makes bullish attempts at the start of a new trading week. The pair is now back around the 200-DMA which continues to serve as the immediate resistance zone, coming around 109.00. Dollar demand picked up amid the renewed trade optimism after China said it will raise penalties on violations of intellectual property rights....
Just received a Signal at 4pm today to go short The white horizontal line is my entry point At 4pm today i got the confirmed signal that the 10 ema crossed below the 20 ema on the 4 hr chart My 1hr analysis is a fib retracement from the most recent high before the red vertical to the most recent low before the red vertical line I am waiting for a pull back up...
Brent crude extends gains for a third day in a row. Prices registered two-month highs around the $64 handle and tries not to lose the upside momentum after some consolidation during the Asian session on Friday. Now, the immediate hurdle for the market comes at the 200-DMA around $64.30. The rally was fueled by positive comments from China. The government...
Gold prices registered two-week highs above the $1,478 on Wednesday but failed to preserve gains and turned slightly negative on the day. The intraday volatility pickup in the market was due to mixed signals from the trade front which remains in market focus. On the positive side, Trump said that they continue the trade talks with China and Beijing wants to...
The EURUSD pair failed to break above the 100-DMA on several occasions and stays below this line since early-October. After four days of gains, the euro resumed the decline on Wednesday, though the downside pressure looks limited so far. Dollar demand picked up slightly as risk sentiment turned sour after Trump threatened once again to hike tariffs against...
The market cap excluding bitcoin, aka, Altcoin, is clearly in a downside trend. MA50 is crossing MA200 and goes down. Death cross generated. The technical picture looks very dim. Weekly RSI is 43.66, heading down. Until it breaks out above resistance line, I don't think it's wise to buy the dip.
Crude oil prices failed to preserve gains and got back below the $63 handle. On Tuesday, Brent tries to hold above $62 and struggles to resume the ascent amid the lingering trade uncertainty. Moreover, the market remains vulnerable to further losses despite the futures are holding above the 100-DMA these days. China expressed pessimism over a partial trade...
The greenback is lower against its major counterparts on Monday, as positive risk sentiment amid renewed trade optimism caps the safe-haven demand for the US currency. Over the weekend, China and US officials held phone talks and discussed the final details of the first phase of a trade deal. The news fueled investor optimism at the start of the trading week but...
Trump, Brexit, Capitalism and Ancient Rome. We’ve been there before. It is In the light of the Trump's impeachment looming and the Brexit can being kicked further down the road that I wanted to reflect on the reasons behind the two massive 2016 events and the parallels I am seeing with Ancient Rome. The idea behind this article is that although history does not...
Dollar demand seems to be reemerging, with major currencies retreating marginally on Friday. However, the trading activity has been muted amid the lingering trade uncertainty and ahead of key economic updates out of the Eurozone and the United States. At that, US-China trade developments remain on traders’ radars. The European CPI data could set a short-term...
Gold prices extend modest gains for a third day in a row, after reaching a three-month low of $1,445.50 earlier in the week. Spot gold has encountered a local resistance around $1,477, which is standing on the way to the 100-DMA. The short-term technical picture has improved somehow after a bounce, but the precious metal remains vulnerable to further losses as...
On Tuesday, Trump disappointed investors, threatening China with substantial tariffs if the two sides fail to strike a trade deal. The US President said the trade deal with China is close but didn’t deliver any details on the possible agreement. Such rhetoric fueled risk aversion on Wednesday, with dollar demand seems to be picking up ahead of the European...
Despite a modest bounce seen at the start of the week, EURUSD remains in a bearish mode and needs to stage far more decent gains to feel more comfortable. The pair suffered aggressive losses last week and still licks its wounds not far from the 1.10 handle, which remains at risk. In the short term, the common currency will pay attention ZEW survey out of...
On Friday, Brent managed to recover from weekly lows around $60.65 and finished at $62.65. However, as the market sentiment has deteriorated again, the prices slipped back below the $62 handle and threaten the 100-DMA again at the start of the trading week. Risk aversion in the global financial markets is due to the spreading protests in Hong Kong along with...
Gold prices continue to trade under the selling pressure as investors cheer positive trade headlines this week. The bullion barely held above the key $1,460 handle which was briefly pierced in early October and turned into a support level during the first week of August. Progress in the US-China trade negotiations is the key bearish driver for the precious...
After rejection from the 1.2975 local highs last week, GBPUSD remains on the defensive, now threatening the 1.28 figure. The uncertainty on the US-China preliminary trade deal coupled with stronger dollar are capping the bullish attempts in the pound early on Thursday. At the same time, recent reports that China commerce ministry is ready to negotiate on how...
Brent crude gained 1.35% on Tuesday and registered fresh late-September highs above the $63 handle. Oil prices saw three days of gains in a row amid a widespread optimism over a possible US-China trade deal. However, as the positive momentum in risky assets wanes due to a lack of fresh signals from the trade front, Brent struggles to extend the rally as well. ...
Hopes that Washington and Beijing will manage to strike at least a partial trade deal fueled risk-on sentiment across the board in the global financial markets. As a result, safe-haven gold failed to extend the rally initiated in the second half of last week. The bullion registered local highs just below $1,516 on Friday and retreated back to the levels...