Category: Technial Analysis
Futures in the United States are cautiously mixed following the Fed’s induced retreat. US stock futures were narrowly mixed Thursday, with the technology-heavy Nasdaq Composite set for another round of losses after minutes from the Federal Reserve’s most recent policy meeting signaled a faster pace for stimulus withdrawal and interest rate hikes, while traders looked […]
European Forex news roundup: USD/JPY falls from highs as Treasury rates remain unchanged The latest forex news from the European market session on January 5, 2022. The market is still contemplative as we await US ADP statistics and the FOMC meeting minutes later today. European stocks are holding steady with modest increases, while US futures […]
Crude Back In DemandCrude traders have had a strong start to the year with crude futures trading in the green over the first full week of 2022 trading so far. On the back of hefty position reductions across the end of 2021 it seems that long positions are once again being rebuilt in crude as […]
CIBCFX FlowsThere has been a fierce rotation in stocks. Investors rushed to liquidate shares of tech companies, which has surged during the pandemic. Nasdaq Composite fell near 3.3% and we also saw sell off in the US Treasury bond market. Report in FT said that investors moved into automakers like Ford and GM, as well […]
• EURAUD broke key resistance level 1.5700• Likely to rise to resistance level 1.5865 EURAUD currency pair recently broke key resistance level 1.5700 (which has been reversing the price from December). The breakout of the resistance level 1.5700 accelerated the active short-term impulse waves 1 and (3). Given the rising euro bullishness seen today – […]
• HSI 50 reversed from support level 22680.00 • Likely to rise to resistance level 23500.00 HSI 50 index recently reversed up from the pivotal support level 22680.00 (previous monthly low from December) intersecting with the lower daily Bollinger Band. The upward reversal from the support level 22680.00 runs counter to the strong daily downtrend. […]
• Nike broke key support level 162.90 • Likely to fall to support level 155.00 Nike recently broke key support level 162.90 (low of the previous correction A) intersecting with the 50% Fibonacci correction of the previous upward impulse from December. The breakout of the support level 162.90 should accelerate the active ABC correction (2) […]
The minutes of the last Fed meeting was a surprise for investors, despite the fact that Powell at the press conference clearly outlined the course for policy tightening. Inflation in the US is on the rise and the covid is expected to only fuel this trend, so the central bank needs decisive action to maintain […]
Fed In Full SwingThe release of the December FOMC minutes last night confirmed that the Fed is well and truly back into hawkish territory now. With the Fed announcing a doubling of monthly tapering at the last meeting, along with upgrading its economic forecasts and dot plot forecasts alike, there was little doubt that the […]
• GBPUSD reversed from resistance level 1.3500 • Likely to fall to support level 1.3375 GBPUSD currency pair recently reversed down from the key resistance level 1.3500 (which stopped the previous corrective wave (iv) in the middle of November). The resistance zone near the resistance level 1.3500 was strengthened by the upper daily Bollinger Band […]
