The British pound has reversed directions on Friday and posted gains. In the European session, GDP/USD is trading at 1.3881, up 0.32% on the day. The pound has shown considerable movement this week. The currency started the week in fine fashion, climbing 1.11%. This marked its best one-day performance since January. After pushing above the symbolic 1.40 line, the...
The Canadian dollar is slightly higher on Friday. Currently, USD/CAD is trading at 1.2513, down 0.25% on the day. On the fundamental front, Canada will release tier-2 data, including Housing Starts. In the US, today's highlight is UoM Consumer Sentiment, which is expected to accelerate to 88.9 points. Canada's ADP job report has been bleak in recent months, with...
A death cross occurs when the 50-day moving average crosses below the 200-day moving average. In addition we can observe the weekly EMA ribbon directly on support: Occasionally this is a setup, but if price falls below the ema ribbon that is considered very bearish - particularly on a weekly time frame. Additional Clarity offered on the death cross...
We see still EURUSD moving lower as the currency pair continues it's upward momentum despite higher than expected inflation data with core inflation rate YoY coming in at 1.6% vs 1.5% forecast. The EUR has been boosted by greater optimism surrounding the vaccine rollout in the EU as we await key economic data releases including German inflation and US retail sales...
WMT 1HR CHART... WMT looking nice for a recovery play to retest ATH and a nice gap fill to the upside. In a steady up trend channel looking to retest that downtrend resistance line and a possible breakout to fill the gap, also currently in a bull pennant, look out for a gap up and retest for an entry if it does.
The Australian dollar continues to have a relatively quiet week. Currently, the pair is trading at 0.7609, up 0.18% on the day. Australia's retail sales were a major disappointment in February, as the interim report came in at -1.1%, much worse than the street consensus of +0.6%. The final February release (Thursday 12:30 GMT) is projected to show an identical...
The Australian dollar is in negative territory for a second straight day. Currently, the pair is trading at 0.7727, down 0.43% on the day. Australia's retail sales started off 2o21 on a decidedly sour note, as the January report came in at -1.1%, much worse than the street consensus of +0.6%. The decline is attributable to Covid restrictions, which had a negative...
The Canadian dollar is considerably lower in the Thursday session. Currently, USD/CAD is trading at 1.2474, up 0.56% on the day. Canada releases Retail Sales for January on Friday (12:30 GMT), with the street consensus pointing to declines. Headline retail sales is expected at -3.0%, while Core Retail Sales is projected at -2.8%. Both indicators registered...
The euro is showing limited movement in the European session. Currently, EUR/USD is trading at 1.2035, down 0.10% on the day. The euro hasn't managed a winning day since Thursday, and the pair is perilously close to the 1.20 line, which is a psychologically important level. Germany is the eurozone's largest economy and has traditionally been the economic...
Also firmer vs the Buck, as the , Loonie hovers around 1.2650 awaiting Canadian retail sales and Pound probes barrier defences at 1.4000 following significant beats in UK PMIs, including services that were so ravaged by the return to lockdown last time. On that note, ONS retail sales data was extremely weak in contrast to public finances, but neither impacted that...
Hello! I hope you guys had a good Christmas and a Happy New Year, refreshed for the trading year. Before your week ahead, here is what you may have missed over the break. Vaccine rollouts have started all across the world, primarily in the United States and in the United Kingdom OPEC+ Implemented a surprise cut that has become a tailwind for the price of...
Shopify is flying after breaking through it's symmetrical triangle the other day and also because of the 21% increase in online sales(highest ever) on Black Friday. SHOP looks to have resistance at 1058 and 1108 but with this momentum looks to break through 1058 soon. With this time of consolidation this may be the breakout moment much higher......
Hello Traders As you can see in the chart above, the price has formed a rising wedge, and I'm expecting a blast fall for NZD. As of tonight, NZD will release its retail sales statics, and it is expected to be bearish too. On the other hand, I see a Bearish divergence on RSI. It is possible too that price forms a double top pattern too....
Stocks caught a lift at the 0.500 Fibonacci exactly as we said they would. Hopefully some of you took advantage of this trade. Currently, they are facing resistance by a collection of levels aroudn the 0.786 Fibonacci level near the technically and psychologically significant 3500 level. This is likely to continue to provide resistance so watch for a small...
I am a reversal from the strong flip level on EURJPY at around 1.2700. I am wary the price could find support at the 124.200 level and continue in its recent bullishness. Euro was very strong yesterday following positive Retail Sales news during the London session. However, overall the price in EURJPY is downtrending and we could see a drop to the September...
Retail going down ,support break will bring about a downtrend hopefully to the next support NB: only hop on the trade after breaking out of the demand zone .
Yet another great prediction. If you've read our analysis yesterday and traded it accordingly, we congratulate you for great profits. As we predicted, the price had an initial push lower to closed the gap, which correlated with past VPOC. This was the level which had double significance for buyers who stepped in to take the price to 12 882 and even broke out this...