Day: August 29, 2022
• EURGBP broke key resistance level 0.8510 • Likely to rise to resistance level 0.8585 EURGBP currency pair recently broke the resistance level 0.8510 (which stopped the pair earlier this month) intersecting with the 50% Fibonacci correction of the earlier downward correction from July. The breakout of the resistance level 0.8510 accelerated the active medium-term […]
• USDJPY broke key resistance level 137.30 • Likely to rise to resistance level 140.00 USDJPY currency pair recently broke the key resistance level 137.30 (which stopped the previous minor impulse wave 3 earlier this month). The breakout of the resistance level 137.30 accelerated the active short-term impulse wave 5 of the intermediate impulse wave […]
Stocks booked back-to-back losses on Monday, with the Dow adding to its 1,000-point skid Friday after Federal Reserve Chairman Jerome Powell vowed not to back down on fighting inflation until U.S. costs of living fall back to its 2% target range. The Dow Jones Industrial Average DJIA, -0.57% shed about 183 points, or 0.6%, to […]
Oil futures rallied on Monday, with U.S. prices up more than 4% to settle at their highest in a month. Prices got a boost given “rising risks of a potential civil war that could put Libyan output at risk and…growing expectations that OPEC+ is positioning themselves to cut production,” said Edward Moya, senior market analyst […]
U.S. stocks narrowed their morning losses, but remained broadly lower in the final hour of trading on Monday. Dow industrials DJIA, -0.57% and the S&P 500 SPX, -0.67% were down by around 0.1% each, while the Nasdaq Composite COMP, -1.02% was off 0.4%. Equities have been weighed down by Friday’s remarks from Federal Reserve Chairman […]
Type: Bearish Drop Key Levels:Resistance: 0.7696Pivot: 0.7645Support: 0.7559 Preferred Case:On the H4, with price trendline and moving below the ichimoku indicator,we have a bearish bias that price may drop from pivot at 0.7645 where the swing low support is. Should price break pivot structure, we would expect bearish momentum to carry price to 1st support […]
Type: Bearish Momentum Key Levels:Resistance: 1778.2Pivot: 1740.8Support: 1709.5 Preferred Case:On the H4, with price moving within a descending channel and below the ichimoku indicator, we have a bearish bias that price will drop from pivot at 1740.8 where the pullback resistance is to 1st support at 1709.5 where the 78.6% fibonacci retracement and 78.6% fibonacci […]
Gold futures settled slightly lower on Monday, pressured by a rise in U.S. Treasury yields, but with some weakness in the U.S. dollar limiting losses for the precious metal. Monthly U.S. jobs data due at the end of the week may provide clues on gold’s next direction. A lower U.S. August nonfarm payrolls number of […]
Bitcoin (BTC) heads into the first week of September on a rocky road downhill after United States markets’ Jackson Hole rout. After the U.S. Federal Reserve reinforced hawkish comments on the inflation outlook, risk assets sold off across the board, and crypto is still reeling from the aftermath. A fairly nonvolatile weekend did little to […]
Embattled EV maker Faraday Future Intelligent Electric Inc. FFIE, -8.00% said Monday it has filed a revised preliminary proxy statement with the U.S. Securities and Exchange Commission ahead of a special shareholder meeting. Faraday Future, which last month announced another delay for its planned EV as it seeks to raise money to operate through the […]
