Latest Market News
Amazon Shares Reflect Uncertainty Shares in Amazon are trading a touch lower ahead of the open on Tuesday. The company’s stock remains down off the YTD highs for now despite a broad uptick in stocks on the back of Friday’s US jobs report. Shares were recently lifted by a set of better-than-forecast Q1 results, reported […]
Daily Market Outlook, May 9, 2023 Asian equity markets traded with a mixed tone overnight after a subdued handover from Wall Street, the much anticipated Senior Loan Officers Opinion data suggested that the banking turmoil in the US had impacted credit conditions Stateside with the appetite for credit receding as loan demand declined in the […]
US equities wrapped up last week on a positive note, with key indexes gaining an average of 1.9%. The unemployment report pleased the hawks: job growth in the US economy surpassed expectations by over 70K (+253K), wages saw a 0.5% increase (forecasted at 0.3%), and the unemployment rate hit a new low (3.4%). The only […]
TitleXAUUSD H4 | Potential bearish reversal TypeBearish Reversal Preference:Price is approaching out pivot at 2031.604 which lines up with a 50% Fibonacci retracement. A reverse from here, price could fall to 1st support at 2004.572. Alternative scenario:However, if price breaks above the pivot, it could rally to 1st resistance at 2059.922 which is a swing […]
TitleUSDCHF H4 | Reversal from swing-low TypeBullish Bounce Preference:Price could approach our pivot point of 0.88208 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 0.89229. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 0.87708. To discuss this trading idea, […]
TitleUSDCAD H4 | Falling to support TypeBullish Bounce Preference:Price is approaching our pivot point of 1.33015 and potentially reverse from here, we could see momentum carry price up to its 1st resistance of 1.34204. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1.32582. To discuss this trading idea, […]