In today’s market insights I explain why equities are not affected by reports that China wants existing tariffs removed in order to proceed with phase one of a deal! Perhaps, investors couldn't care less about the consistent back and forth between US and China before they go home for Christmas... I reveal how I expect the S&P500 to perform in December, and while...
$EURUSD is setting up for a massive rally in wave 3. Wave 3 should exceed the high of wave 1 and might advance 1x or 1.618x wave 1. Price is sitting at a critical confluence level comprising of 61.8% Fibonacci retracement of the advance, and wave (c) equal 0.618 x Wave (a). I took a loss on last week because I was initially labeled the correction as a regular flat...
In today’s market insights I talk about Trump’s latest move to support HK protesters by signing two bills, denting optimism around the recent trade war optimism! The shift in sentiment was expected but how risk vs havens performed may seem confusing to some when looking at CADJPY and AUDCHF. Here I explain how the yen and franc are likely to perform against...
Good morning traders As I sit at my desk this morning looking at my pairs I trade I’ve realized the need of “sitting on your hands” For me gold has been a very good example of this. Providing you with a 4H chart we can see that price made 3 drives into the low around 1450.00 . There has been multiple spikes based on trade developments that has just caused the...
Simple setup here where the daily price action is showing initial rejection of an established trend line. Volume isnt suggesting enough strength to push through this resistance in the approach to the trendline, inviting sellers to enter without too much opposition. Stop Loss above both the trendline and recent high in order to place two solid barriers between...
In today’s marketinsights video recording, I talk about SPX and DXY . SPX takes a breather from all-time highs offering some pocket-relief to short-term bulls, however, with weekend trade headline news the rally could continue higher. The US index looks bid too despite the medium-term bearishness as the economy performs incredibly well, supporting the dollar....
The fundamentals doesn't look as good as the weeks before. There are more uncertainties of no trade deal and normally that means stronger safe haven currencies like the JPY or CHF. On the technical perspective we can see clearly that we have downside momentum. I'm currently waiting for the 5th elliot wave to the downside.
EUR / CAD has developed higher lows connected by a longer-term upward trend line and also displays lower stochastic lows. This bullish divergence indicates a rebound may occur. With little eye-catching improvements for leading indicators for the eurozone, in this session, I'm hoping to catch a quick bounce for the shared currency. On the flip side, there might...
In today’s market insights video recording I talk about markets’ muted reaction to the impeachment hearings and focus on the assets that moved! USDCAD was bid on a hawkish Poloz as he lowered down markets' expectations of a Dec rate cut. Loonie was also supported by OPEC+ likely production cut extension. While at it, I also analyse EURUSD despite it ended the...
The movement of the SPX are reflected in the VIX (volatility index) but the signal seem to arrive when the SPX index is already too advanced in the retracement. The SKEW signals earlier on. The signal from SKEW starts with lower lows, then the volatility increases and SPX dips. Sell when the SKEW starts hitting lower highs, then BUY when the VIX index is peaking.
EUR/USD has been declining for ages. The long-term downtrend in the counter could come to a halt at this price zone. Technically, the long-term ABC wave could be completed and the short-term charts are forming an inverse head and shoulder pattern. However, the counter still needs more accumulation at the current price and could create a near-term low, which is...
In today’s market insights video recording, I talk about EURGBP and AUDJPY FX Minors. Euro is affected by a report that a phase-1 deal is highly unlikely by the end of this year as the Chinese want rollbacks pushed to May 2020 and the US Congress just passed a bill supporting Hong Kong protesters; going against China again!? Safe-haven flows were also increasing...
Traders sold the Aussie like no tomorrow when the minutes of RBA's meeting indicated members expected another rate cut in November. We are worried about Australia's major trading partners ' economic slowdown; contraction in housing construction activity; outlook for consumption; wage growth; inflation; and domestic growth. Ultimately, the latest papers point out...
Traders seem to be in risk aversion mode to start the week off of negative developments in the U.S.-China trade story. With fear on whether or not we’ll see tariff rollbacks on China, odds have risen that the trade deal may not go forward. This has sent equities, bond yields and oil lower, and seems to be supporting the safe-haven currencies like the Japanese yen.
Good morning traders, Trade War negotiations appear to be breaking down which will put pressure on the NZD. The NZDUSD is about to break an ascending wedge formation. There is also a nice head and shoulders forming. We are looking to sell down to the 0.6300 level. Any thoughts and comments let us know.
In today’s marketinsights I talk about how the latest trade war and API developments affected the prices on gold and oil. Watch as I identify certain #elliottwave patterns that can’t go unmissed ahead of today’s FOMC minutes and EIA’s WTI report! XAUUSD is still expected to turn lower after the completion of this subminute correction, whereas US Oil, could...
In today’s #marketinsights video recording, I talk about EURUSD and USDJPY FX Majors Both major pairs were affected by incoming trade war flows, following China's rather pessimistic view on proceeding with a phase-1 of a potential trade deal. Euro could move towards 1.11 round resistance and yen could push the dollar down near the 108 round support. The above...