The Euro has been on a steady decline against the USD since mid-February of 2018. The pair has reached a new low of 2019 on September 3rd at 1.09259 and then rallied on Dollar weakness following worse than expected ISM Manufacturing. On a 4HTF, we have a strong bearish candle that engulfed all of yesterday. This is following a TK cross to the downside. The Chikou...
What's moving this market north? Like the Fanny Mae fiasco back around 2008, the 'implicit guarantee' is at play. Go read up what that is about. In essence this is about an idea that the FED will bail out big corporations. The top industry analysts can find nothing of real substance in the fundamentals to move the DJI (and S&P) north. I explore the 4H and 1D...
On a Daily TF we see the price has stalled at the local 61.8% Fibo around 107.345 which is at the same level as the bottom of the Ichimoku Cloud. On a 4HTF the pair is showing a slight retracement. We have to keep our eye out on news Headlines about the trade war if we want to trade pairs with the USD. As a result: If the price breaks this 61.8%...
DTF – Price broke local trend line up. Price is attempting to breach the Ichimoku Cloud. The Base Line and Conversion Line are intertwined. 4HTF the bias is Bullish. We may see a retracement with target areas at 23.6% Fibo 1.22829 , following that 38.2% Fibo 1.22209 and then our 50% Fibo which is close to our Base line at 1.21707 . For further movement u...
USDJPY 107 AUDUSD 0.6850
Today we had the release of the anticipated US Non-farm payrolls. The forecast was slightly above the previous fact at 160K. Investors had mixed signals from previous reports, such as the ADT NFP rose by 195K in August, but on the other hand the ISM indicator showed a regression in employment activity. Looking at a 1H TF on USD CHF we see that traders were more...
Brexit remains on the front lines. British Members of Parliament on the opposition party as well as rebels from the conservative party voted on Tuesday, their first day back after summer break, to take back control of the parliament agenda. This is following Prime Minister Boris Johnsons suspension of parliament till mid-October. As a result, the PM is expected to...
.LOG The inverse correlation GOLD vs OIL 12:38 03-Sep-19 Gold can be used for speculation but is preferred as a safe haven. Crude, on the other hand, can be used as a store of value but is preferred as a speculative play. This combination makes these two assets work great together as mutual hedges. Gold helps offset the risk of higher uncertainty, while oil...
Australia celebrated their first current account surplus with unchanged interest rate at 1%... for now Today Australia released their current account surplus at 5.9B versus the previous fact -1.1B which is well ahead of the expectations, thanks to higher prices for export on Australia’s key resources like iron ore and coal. Retail sales on the other hand were...
Today is a better morning for the Euro than the British Pound. Better than expected manufacturing PMI was reported from Spain, Italy and France. German manufacturing PMI came in at just slightly below the forecast and previous fact. Great Britain’s manufacturing PMI, on the other hand, was reported at worse than expected and worse than the previous fact. So far,...
Japan released industrial production MoM for July. Data came in at better than expected 1.3% against the previous fact of -3.3% and ahead of the forecast of 0.3%. German Retail sales were revised to the downside from 3.5% to 3.0% and a worse than expected reading came in today at -2.1% MoM for July. At 12:30 GMT the United States and Canada will release reports....
Over a week ago, on the 20th of August we did an analysis on NZD JPY. The price is currently travelling near our predicted target area of 67.414. The price actually surpassed our further prediction to the downside and created a new lowest low at 66.306 when the market opened on Monday the 26th with a GAP down on escalating trade war tensions and the announcement...
What happened to the British Pound today? Some say the news were first seen on twitter, no surprise there as investors are probably getting used to the daily abnormality that drives the financial market lately. The new Prime Minister of the United Kingdom has taken another step in the direction of Brexit, with or without a deal. In his move, the government has...
Globally the pair has been in a gradual downtrend for quite some time now, losing about 1300 pips since January of last year. The pair saw 12 consecutive days of losses at the end of July and beginning of August and has since been trading in somewhat of a flat, as we can see on the daily TF. I’ve also identified a local trend line down. Switching to a 4HTF we...
Did the FED meet expectations? Everyone waited last week for Friday and the speech by Fed Chair Jerome Powell to see if he drops any hits on further monetary easing. The Feds tone was demure, he made no notion that rates were going to be cut in September or in the near future. Instead he stated that the FOMC will continue to carefully monitor the situation....
Markets, investors, traders and many more are all waiting for the much-anticipated speech by Fed Chair Jerome Powell, that is to speak today at 14:00 GMT at the Jackson Hole Symposium . Traders will be tuning in to see if they can pick point any hints about further monetary easing in the US. At the time, things are very wishy washy. The last FOMC minutes from...
USD JPY is an interesting pair to observe. The pair was quick to react as bears took control after President D. Trump announced additional tariffs on China. The pair met support that’s been respected several times in history at 105.520 at the opening of August 6th. A bullish engulfing candle followed but resistance prevailed at the 38.2% Fibo level. The next big...
Seems like the financial market is hibernating till Friday and the anticipated speech by Federal Reserve Chair Jerome Powell. Mr. Powell’s speech will be closely watched for hints about the monetary policy decision on September 18th 2019. On July 31st FED lowered the interest rate by 25 basis points for the first time in a decade, stating that further easing will...