EEM is about to retest the neckline of the head and shoulders that it broke down from at approximately $31 a share. If you look at the mix of countries that make up this ETF, rising oil prices generally will not cause a price increase. The only worry is if the USD rolls over, as EEM and USDollar are inversely correlated. Anyways, short here (or at 31 if you're...
Technicals We have a Gartely pattern set up here. I am looking to go long at 0.03697, which falls between the 0.786 retracement and 1.272 extension along with 1:1 ratio between the AB and CD legs. There is also a divergence on the Relative Strength Index from a heavily oversold condition, supporting a spike from around the current price. Fundamentals...
Hi, I'd like to repost a private idea I had (I did post it in related ideas in my last retracement long idea for copper -which actually worked for the 1st entry before a massive turn south-). We have a clear short opportunity as outlined by my friend Tom Killick (he does great coverage of copper and USDCLP, check in related ideas). If we're offered with a...
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The kiwi had a solid move against the dollar on Friday, gaining 1.14 percent. The move came as commodities rebounded, thus pushing up their respected commodity FX. This was a response to the weaker dollar, but commodities saw their sixth week of capital inflows as traders deem a more risk-on approach in the medium-term. The move into commodities has been the...
The BRICS (Brazil, Russia, India, China and South Africa) are highly watched emerging markets because they represented roughly 22 percent of global GDP in 2014. However, the global economic slowdown and increased geopolitical tension has weighed heavy on these markets. Although, India may be the most resilient economy out of the BRICS. India has felt its share of...
Some say this week's FOMC decision will be of historical proportions and be the first time the Federal Reserve will increase the Fed funds rate in almost a decade. The U.S. dollar index is in a descending trend. Price action is floating above the minor trend created by the top on April 13. The dollar has not been able to see any significant support higher,...
As you can see by my chart, every time the price has hit the top of the linear regression, and 0.04 on the MACD, the price has reversed back down again with the CCI, DeMarker and Stoch RSI gradually falling back into their respective channels. Without consideration of any further shocks to the market, I think that political instability, the conflict in the south...