Latest Market News
Type: Bearish ReversalKey Levels:Resistance: 1.2606Pivot: 1.2547Support: 1.24574Preferred Case:With price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our pivot at 1.2547 which is in line with horizontal overlap resistance and 38.2% Fibonacci retracement to 1st support at 1.24574, which is in line with horizontal overlap support and 100% […]
The numbers: A survey of American consumer sentiment fell to 68.8 in January from 70.6 in the prior month owing to fresh worries about the coronavirus omicron variant and high inflation, signaling another rough patch for the economy. The latest reading in the University of Michigan sentiment index was the second lowest in the past […]
U.S. business inventories jumped 1.2% in November, the government said Friday. Sales rose 0.7% in the month. An increase in inventories adds to gross domestic product and is usually a sign of an expanding economy. The ratio of inventories to sales, meanwhile, rose to 1.25 from 1.24. That’s how many months it would take to […]
Analysts at RBC Capital Markets have downgraded their rating on Ford Motor Co. F, +0.68% stock to the equivalent of hold, saying in a note late Thursday that despite their belief that the auto maker’s turnaround is “well underway” and Ford can continue to transition toward a future dominated by electric vehicles, autonomous vehicles, and […]
Dollar weakness this week is more attributable to improved growth prospects and yields on local non-US assets than to a breakdown in Fed policy expectations. In this regard, the dollar correction may be longer than expected as non-US yields driver apparently comes into the spotlight. Nevertheless, it is still premature to say that the dollar […]
Type: Bearish ReversalKey Levels:Resistance: 114.167Pivot: 113.998Support: 113.348Preferred Case:Prices are on bearish momentum. We see the potential for a sell entry at 113.998 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension towards our Take Profit at 113.348 which is an area of Fibonacci confluences.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 114.167 […]