Market Analysis

CIBCFX FlowsEarly birds paid $YEN up to 130.575, no headlines, one Japanese friend said to me he saw US banks hitting the offers. I believe the move could be due to the positive start in the US equity futures. Things turned sour, e-minis pared gains and $YEN reversed back. Demand for the Tokyo fix cushioned […]

????Peloton Plummets!????Peloton stock is set to open -26% after reporting a deeper than expected loss in its latest earnings report. The company also cut revenue guidance and CEO Barry McCarthy warned that they are “thinly capitalized.” The stock has had a difficult year so far, with the price in January falling below its IPO price […]

BP is planning to acquire a stake in one of the world’s largest green hydrogen projects from wind and solar energy, in Western Australia. BP plans to acquire a stake of about 30% of the Asian hub of renewable energy with a capacity of 26 gigawatts, The Australian newspaper reported. The project proposes about 14 […]

Gold prices rose during trading on Tuesday, with the dollar retreating from its highest levels in two decades, prompting investors to choose bullion priced in the US currency. This comes at a time when investors are waiting for key US data for clues regarding the Federal Reserve’s stance on raising interest rates. Gold prices ended […]

It’s been a tough start to the week for global equities indices with the four benchmarks tracked here each falling to multi-month lows on Monday. The growing wave of central bank monetary tightening, along with rising inflation and ongoing supply-chain risks is adding to fears of a global pull-back. Central bankers have warned about the […]

Type: Bearish ContinuationKey Levels:Resistance: 1622’6Pivot: 1611’2Support: 1581’0Preferred Case:With the ichimoku indicating some bearish momentum, we have a bearish bias that price will drop to our 1st support in line with the swing low support at 1581’0 from our pivot of 1611’2 in line with the 38.2%, 50% Fibonacci retracement and 78.6% Fibonacci projection.Alternative Scenario:Alternatively, price […]

• Silver under strong bearish pressure• Likely to fall to support level 21.00 Silver under the strong bearish pressure after the price broke below the long-term support level 22.00 (the previous monthly low from January and February). The breakout of support level 22.00 accelerated the active intermediate ABC correction (2) from the start of March. […]

• AUDUSD broke support zone• Likely to fall to support level 0.6900 AUDUSD currency pair recently broke the support zone lying between support levels 0.7025 (low of the previous wave (1)) and 0.7000. The breakout of this support zone accelerated the active impulse wave 3 of the medium-term impulse wave (3) from the start of […]

Tesla Shares Fall Lower Again This Week Tesla shares continue to plunge lower this week. The company has undergone a sharp shift in sentiment since the test of 1142.17 highs with shares having now dropped by over 30% since that latest peak, currently sitting on support at the 777.11 level. News of Elon Musk’s purchase […]

EURCAD Testing Channel TopPrice action in EURCAD is looking interesting here. The pair has been grinding steadily lower within a well-respected bear channel over the course of 2022 so far. However, we’ve seen strong bullish divergence creeping in at the recent lows. Price has since reversed higher off the 1.3439 level and is testing the […]

Daily Market Outlook, May 9, 2022 Overnight Headlines China Export Growth Slows To Lowest In Almost 2 Years, Imports Flat China Paper Sees Q2 GDP Slow To 2.1%; RRR Cut Unlikely In May China Stimulus Fails To Ignite Housing Sales Over Key Holiday China Premier Warns Of ‘Grave’ Jobs Situation As Lockdowns Weigh Shanghai Tightens […]

AUDJPY Key Level on Watch Putting the focus back on AUDJPY this week. A previously highlighted setup is still in the offing here. The market is potentially carving out a head and shoulders pattern, suggesting room for at least a medium-term correction lower. The key level to watch for a is a break of the […]