"Apple" is still leading the market. The "Apple" stock has double bottomed (in a ugly way) and the rest of the market is now following higher. Oil might continue the rally higher beyond 50 "US Dollar" and China might have also double bottomed. If all of this becomes true the market has gotten rid of all negative trends which so far lowered equities. If the squeeze...
Obviously, being smart, sane, savvy and logical traders, we all recognise that there is a monstrous Godzilla formation looming over cable right now. I don't mean some obscure Japanese candlestick formation, but the actual Godzilla, poised to run rampant and squash the UK into smithereens if it votes leave in June.
I would contend that the opposite may be the...
There may be trouble ahead...
Grexit is hiding in the shadows behind Brexit, but former Greek FinMin believes Grexit in 2016 is more likely than last July. Greece has a colossal amount of ECB debt obligations to meet in July. Negotiations and general turbulence look set to hit its peak in the month before, just as the Brexit vote is taking place.
It could be said that it is slightly strange that the Euro isn't weaker. As of writing, EURUSD is trading at 1.1040 after seeing lows of 1.0458 back in February 2015. From March last year until February this year, EURUSD was in a very steep downtrend with a range of ~3500 pips. Since then, the pair has remained relatively stagnant, after seeing a bounce off of the...
Update: the market responded late to this trade. The gap somehow invalid the forecast
The last bullish momentum was just a gap-closing action. Demand seems too weak to expect another bull impulse.
All clues leads to a short position.
The USD sell off as traders set a chain of profit taking after 2 weeks rally due to various factors:
- Greece uncertainty of exiting the EZ make holding USD worthwhile
- US Economic data has been promising with CPI much higher
- Hawkish comment from Yellen
- That view is changing with 5th of June looming for a potential deal and no Grexit
A lower USD...
Sometimes knowing the general direction of fundamentals will be more than enough in trading, the charts says everything of what the market intended.
News are just meant for distribution of expensive stocks to the average joe.
Had a pretty good trade from this :)