If global growth continues to slow, so too will Brent. If not, then this assessment should be updated. While technical oscillators are important for this forecast, so too is the assumption that global growth is not rebounding, but rather will continue to slow in the EU and China.
GBPUSD will probably be headed sideways until the April 12th deadline after which if there is a no deal (unlikely) then the price will crash through the floor. But if there is an extension longer than a few weeks, I think we can expected to see price action gravitate towards the monthly resistance downward trend.
If you have the guts for exposure to such high beta (if you're familiar with the concept of variance) then getting into a basket of crytpos is for you. And if getting into a basket of cryptos is for you, then most of your exposure should be to Litecoin, not Bitcoin, Ethereum or EOS. As stated several times and reinforced today, Litecoin remains the best performing...
Momentum stalling on ALXN while it also hits strong monthly and yearly resistance. Price target at limit of short-term resistance 138.32.
Fib levels on the Aussie dollar have recently been interesting retracement levels with price action reversing at these price points. Technicals suggest a pullback, but could edge a bit higher before we see significant moves lower. Fundamentals also show downward movement BUT ONLY if Chinese growth continues to slow as the Aussie economy is probably the best...
We all know doji patterns after an uptrend suggests a reversal. LTCUSD saw yesterday form one of these patterns. However, the difference between LTCUSD's doji yesterday is that it did not really come at the end of an uptrend. Rather, price action has moved mostly sideways over the past week of trading. Because of this, I would not start lighting your hair on fire...
With stochastic flashing overbought and RSI headed in that direction, some technical oscillators are showing that price action is reaching the upper limits of its bullish momentum. By the way, that bullish momentum is weakening as time progresses which can be seen by the weakening of one day change (bottom oscillator). Sentiment indicators also suggest the crowd...
Today markets another important day of voting in the UK House of Commons where Parliamentarians will again cast opinions on the so-called 'indicative votes' all of which failed the first time around. Regardless, the markets certainly do not believe the UK is headed towards a no deal Brexit, but as of right now that is where the UK is heading as a deal is required...
While the Japanese yen had been trading on an upward short-term support line, last week it broke this line. Interestingly enough though, it found another level of support similar to the previous level of support, but just with a bit of a less steep slope. Clearly there is much evidence to suggest that the Japanese yen should be taking a nosedive. Compelling...
Technicals show that we are due for a bit of a pullback with oil. However, US growth is still strong and may be able to keep demand up while OPEC tries to cut down on supply. For more financial analysis and charts, check out www.anthonylaurence.wordpress.com
Fundamentals are fairly important in financial markets. Its why I spend so much time on them. This is how I came to the ultimate conclusion that the trend of EURUSD is down mainly because Brexit, updates of which you can find here: anthonylaurence.wordpress.com While economic data out of the Eurozone was somewhat favorable at the start of the week with the IFO...
With a clear majority in the House of Commons against a no-deal Brexit, and with members of Parliament holding more votes on alternative plans on Monday, Mrs May asserted that the UK would have to find “an alternative way forward”. She also may attempt a fourth bid for the Commons to pass her bill. Meanwhile, trading of the pound on Friday faced significant...
V bottoms are bull signals that suggest follow through to the up side if driven through resistance. Clearly, that's what we've seen over the past few weeks, but resistance breakthrough is not too strong. Moreover, we are seeing a number of minor pull backs without strong conviction beyond resistance. Fundamentals are key to SPX500 as well, so don't get bogged down...
USDJPY has a number of trends going against it to force price action downwards. Technicals and fundamentals are not on the dollar's side against the yen. Traders can see a number of oscillators and MAs suggesting USDJPY is overbought and due for a reversal. Moreover and probably more impactful are the fundamentals of the global economy which suggest major growth...
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
Trend trading would indicate via EMAs that we should see some lower levels. Moreover, short-term resistance and short-term support are form a symmetrical triangle and given the steep degree of the angles of the wedge, it seems as though some dramatic fundamentals would be required to force this pattern into either an upside or downside follow through of the wedge....
I'm not saying its going to happen, but many fundies point to indecision. There's little motivating force behind breaking through previous all-time highs. Trade war resolution? Probably not since after US-China, Trump may take on the EU and Japan with auto tariffs. If that goes down, he could easily tip us into recession. At the end of the day, speculative...