EconomicsGlobal

EconomicsGlobal

Big "Risk On" move in AUD/USD, as FX traders flock into the Aussie Dollar as many feel more optimistic taking on more risk, and as the US Dollar breaks down. As a result, AUD/JPY broke through its weekly resistance of AUD/USD$0.6991, to reach AUD/USD$0.71722, to hit a level not seen since February 2019. Further, the rising weekly RSI adds further support to...

EconomicsGlobal Updated 

$ENPH continues to be on a tear in recent trading sessions, helped both by technical and macro factors. On the macro front, the headline risk of a trade war has finally receded as the US and China signed their trade deal in January 2020. This has helped to roll back some dark clouds as it relates to global trade flows, especially for geopolitically sensitive...

EconomicsGlobal

It appears that bearish sentiment is popping up in the #Nikkei #NI225 as the new year begins. This can be seen through the fact that i) price has fallen out of the (Green) Upward Channel, ii) the bearish divergence (Green Trend Lines) between the price and RSI, and iii) a bearish MACD. As we get back to normal next week, time will tell as to how this trend will...

EconomicsGlobal

With a "Phase I" trade deal between the US and China finally agreed upon, markets have continued to take on a "Risk On" mantra in recent sessions. In fact, this can be seen in the $CADJPY pair, as the Canadian Dollar appears to be marching higher since the lows of August 2019. On a technical basis, bulls continue to be in control, with prices still in a "Rising...

EconomicsGlobal

As global financial markets continue to grind higher and reach new highs, it appears that yields on the US 10-Year Treasury are doing the same. Yields broke through their previous yearly high of 1.899% (Green Resistance Line), settling at 1.943% (as of Nov 10th), and are trying to make a move higher. On a technical basis, yields seem to be forming an "Ascending...

EconomicsGlobal

As euphoria has come back into the markets, with earnings coming in strong and the global macro environment looking a lot less hostile, US equities have made all-time highs in recent trading sessions. However, in spite of this trend, investors and traders should keep an eye on the VIX and market volatility. The VIX has reached our "Bounce Back" zone, indicated...

EconomicsGlobal

As the "Trade Deal - Phase One" between the US and China comes into fruition, this piece of news could not have come at a better time for the Nasdaq ($IXIC). With the Nasdaq brushing up against it's Monthly Resistance Level of 7879.50 (Blue Line), in the midst of an uptrend, the news of a Trade Deal between two economic giants may act as a much needed tailwind to...

EconomicsGlobal

Bitcoin appears to be forming a "Descending Triangle Formation" - forming lower highs since peaking in July. To add further support to this theory, is the fact that its RSI is forming the same pattern as well, currently brushing up again its green trend line and struggling to break through. The big test is whether prices can break past $10,511. If prices fail...

EconomicsGlobal

In a similar fashion to its $DJI brethren, the $IXIC is trying to break out of its "Channel" formation in an effort to move higher. Given this move, the $IXIC is trying to make a run for 7,879 - a Key Monthly Resistance Level (Blue) for the index. One thing to lend support for the $IXIC to move higher, is the fact that its RSI is showing positive divergence...

EconomicsGlobal

As market volatility has died down in recent sessions, off the back of calming geopolitical tensions in Hong Kong, as well as between US-China, it appears that the $DJI has broken out of its "Channel" formation and is moving higher. Given this move, the $DJI is trying to make a run for 26,876 - a Key Monthly Resistance Level (Blue) for the index. One thing to...

EconomicsGlobal Updated 

Since August 2019, the S&P 500 has entered into a "Channel" formation between 2823-2946, with trading being quite choppy ever since. Despite the market's volatility throughout August, it appears that the S&P 500 is making strides in trying to exit this "Channel" pattern to the upside. Two indicators to support the S&P500's move higher is: 1) The S&P 500's rising...

EconomicsGlobal

It appears that Natural Gas is trying to exit a "Channel" formation after its recent sell off. To add some fuel to the fire, the recent price action has been supported by rising RSI momentum ("Higher Highs and Higher Lows"). If Natural Gas can "Break and Close" above the $2.77-$2.30 level, we could see prices moving higher.

EconomicsGlobal Updated 

After bouncing off its Weekly Support Level of $52.422, WTICOUSD is making a run for its key resistance level of $57.14 (Red Diagonal Line). A "Break and a Close" above this level will help to provide confidence for the commodity among global investors. However, WTICOUSD continues to make lower highs within a downward trend. The next move at this level will be...

EconomicsGlobal Updated 

With economic uncertainty continuing to grip the financial markets, the US Dollar continues to be in play. As global investors flock to US assets, both stocks and bonds, in search of above average returns and safety, the US Dollar continues to strengthen against its G10 and EM counterparts. As this trend continues, a key level to watch for the Greenback is its...

EconomicsGlobal

As investors continue to feel nervous about the health of the global economy, the $US10Y-$US03MY curve continues to invert, with the spread plunging below its Monthly Support Level of -0.457 (blue) to reach -0.502, a level that has not been seen since March 2007. Investors should continue to remain cautious when it comes to their asset allocation, as dark clouds...

EconomicsGlobal

Yields on the US-10 Year Treasury continue to head lower, as they approach a multi-year support of 1.426% (blue), a level not seen since July 2016. "Risk Off" continues to be in play.

EconomicsGlobal

$HSI is approaching our Monthly Support Level (blue) of 25,166. It has staged steady rallies since, but given the external global macro headwinds, and internal political strife, we see $HSI breaching this support and heading lower. Watch this space...

EconomicsGlobal

WTICOUSD continues to be pummeled by global macro headwinds. such as a slowing global economy, decreasing global demand, and the ratcheting up in trade rhetoric between the US and China. Given this setup, WTICOUSD is trending downward towards its key Weekly Support Level of $52.422. WTICOUSD has seen steady rallies from this point in the past, however, given the...