Category: Technial Analysis
OECD Raises UK Growth Forecasts… Slightly The latest set of forecasts from the OECD makes pretty dim reading for the UK. The economy is set to suffer the second-worst performance of the G7 this year, underperformed only by Germany which already fell into recession earlier in the year. Overall, the UK is pegged to record […]
Apple Pulls Back From Fresh Highs Shares in Apple are trading lower pre-market following a heavy reversal yesterday. The stock hit fresh all-time highs yesterday before profit taking kicked in and saw the stock falling back below the prior 182 high-watermark. Apple stock has seen a mammoth run so far this year, rallying almost 50% […]
The British pound sterling has reversed down against the US dollar. The current GBPUSD quote is 1.2409. Fresh statistics from Halifax show that property prices in the UK have fallen for the first time since 2012. According to the May data, average real estate prices have dropped by 1.0% y/y. The decrease in housing prices […]
The market’s most traded currency pair is moderately retreating on Wednesday. The current EURUSD quote is 1.0690. The EUR felt some pressure following comments by Isabel Schnabel of the European Central Bank. She noted that an ECB rate hike might take longer than expected to have an impact on the economy. With the current skills […]
Bitcoin Bounces Off Lows Bitcoin futures are still fighting to get back above the 27415 level today. Following a dip lower towards 24930 support earlier in the week, the market has since rebounded and is now testing the upper level once again. Near-term, the key driver for bitcoin remains the markets expectations regarding the Fed. […]
BOC on Watch Today’s BOC meeting is drawing plenty of attention, particularly on the back of recent unexpected interest rate hikes from the RBA. While the BOC has been on hold since its last .25% hike in January, the bank has repeatedly signalled that it stands willing to hike rates again if/when necessary. Recently, expectations […]
EURUSD, “Euro vs US Dollar” The currency pair has completed a wave of decline to 1.0666 and a correction to 1.0700. Today the market continues developing a structure of decline to 1.0632. After it reaches this level, a link of growth to 1.0666 (a test from below) will not be excluded, followed by a decline […]
The BTC restored to 26,836 USD on Wednesday after a major decline the day before. Since yesterday, the leading crypto has been showing the consequences of a rebound. However, the market did not renew the new support at 25,500 USF though in the afternoon it seemed possible. The decline was provoked by the news about […]
Lowe Lifts Off Again The RBA caught markets by surprise once again last night as it lifted its headline cash rate by a further .25% from 3.85% to 4.10%. The move marks the second such unexpected hike from the bank, with the majority of analysts polled ahead of the meeting expecting no change whatsoever. The […]
The dollar rally of May has been facing difficulties since the beginning of the month. Despite a decent unemployment report, the situation did not favor buyers. The focus is on the story that the Federal Reserve will postpone the rate hike until July: Yesterday, the dollar was additionally pressured by a negative surprise in the […]