Costco has formed a Bearish Butterfly that lines up with the 0.786 retrace and is testing the zone for the second time with PPO Bearish Confirmation Arrows on both tests, PPO Bearish Divergence, and MACD Hidden Bearish Divergence. This looks like it could be setting up to revisit the lower half of the range.
Walmart has formed a Rising Wedge into the PCZ of a Bearish Alternate Bat, and as it's made its way to the PCZ, the PPO has given us both a Bearish Confrimation Circle and 3 Falling Peaks. If this plays out, I think WMT could easily see $130, but there is room for it to go down to as low as $90.
The Japanese yen is in positive territory on Friday. In the European session, USD/JPY is trading at 129.76, down 0.33%.
Inflation indicators in Japan continue to head northwards. Tokyo Core CPI rose to 4.3% y/y in January, up from 3.9% in December and ahead of the consensus of 4.2%. This is the highest level in 42 years, but what is more worrying for the Bank of...
This is the same double bottom from yesterdays rushed idea. Thursday 10th and 11th saw a rise from 1706 to 1764. Consequently, due to strong bullish pressure i have changed the neckline from 1706 to 1800. This will be determined in the coming days, if price challenges 1800, with XAUUSD needing to fill in from fib line 0.236 to 0 (This is nearly 4500 pips which...
Walmart
Short Term - We look to Sell at 127.66 (stop at 133.76)
This stock has recently been in the news headlines. They issued a profit warning ahead of earnings. Our outlook is bearish. A firmer opening is expected to challenge bearish resolve. Resistance is located at 128.00 and should cap gains to this area. Preferred trade is to sell into rallies.
Our...
The Canadian dollar hasn't made any spectacular daily gains since May 13th, when it shot up 1.1%. The currency has, however, made slow but steady progress against its US cousin. Earlier today, USD/CAD touched a low of 1.2731, its lowest level in three weeks.
Canada's retail sales for March helped the Canadian dollar rally on Thursday. The headline figure was...
The US dollar continues to pummel the Japanese yen. USD/JPY pushed above the 117 line earlier today for the first time since January 2017. USD/JPY is up 0.61% on the day and has recorded a massive gain of 1.76% this week.
We continue to see sharp volatility in the currency markets and the Japanese yen has not been immune to the turbulence. Risk apprehension has...
The Japanese yen is drifting in the Monday session. In North American trade, USD/JPY is trading at 108.67, up 0.05%.
The yen has posted four winning weeks out of the past five, as the US dollar continues to struggle. Still, the US/Japan rate differential continues to support USD/JPY, which remains in no man's land slightly below the 109 level.
Japan will release...
