AMZN is approaching its support at 1359.84 (100% & 61.8% Fibonacci extension, 38.2% Fiboancci retracement, horizontal swing low support) where it could potentially rise to its resistance at 1757.82 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4.3% where a corresponding bounce could occur.
By Andria Pichidi - November 21, 2018 Japanese inflation data will be out earlier than expected, on Thursday, as Japan is closed on Friday for Labor Thanksgiving Day. The National October CPI is forecast at 1.3% y/y from 1.2% overall, and steady at 1.0% on a core basis. Although the annual inflation has been improving since May, it remains well short of the...
EURUSD, H1 - Holds 1.1400 following a weak US data dump. Support sits at the 200 Moving Average down at 1.1370, with Resistance at R1 around 1.1445 and yesterdays high at 1.1470. With plenty of data still to come (Existing Home Sales, Leading Index and Revised data from the UoM together with the Weekly EIA Oil inventories) the 1.1400 area remains interesting...
Google is approaching its support at 989.9 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce up to its resistance at 1094 (38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 9% where a corresponding bounce could occur.
Coke is testing its resistance at 197.72 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 163.62 (50% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is testing its resistance at 97% where a corresponding reversal could occur.
By Andria Pichidi - November 20, 2018 EURGBP, H4 and Daily Sterling has lifted moderately after BoE Governor Carney hinted that rates may go up in the case of a no-deal Brexit scenario, even though this is something he has pointed to before and the Brexit picture in the UK remains as clear as mud. Carney put pressure on Gilts, and helped Pound. BoE Governor...
Is the USD rally over or was Friday a simple shake of the USD Tree? Moving Averages keep you on the right side of major moves that can run and run. The USD continues to soften against its major partners. USDJPY is trading at a three-week low below 112.35, EURUSD and Cable both spiked higher (to 1.1470 and 1.2875, respectively) before turning lower. In the...
By Andria Pichidi - November 20, 2018 USDCAD and USOil, H4 and Daily USOil prices reached an overnight high of USD 57.44 per barrel. The 4-day run higher in Oil prices, after a period of sharp declines, has helped the Canadian Dollar find a toehold. The contract has been supported by talk of a proposed production cut into year-end by OPEC and Russia, which was...
By Andria Pichidi - November 15, 2018 Bitcoin, Daily and Weekly Is Bitcoin in for a roller-coaster ride? Last November, Bitcoin had a remarkable spike from $5,650.00 area up to $11,482.00 that would imply the rise of the price 10-times more within a 6-month period. However the price reached a record high of $20,000 in the mid of December, before the...
USA30, Daily By Andria Pichidi - November 19, 2018 US equities are back under pressure after whipsaw trading overnight following a WSJ report that Apple has cut production targets on certain iPhones, along with antitrust accusations levelled at Micron by Chinese authorities (FT) and a frosty dialogue between US VP Pence and China premier Xi at the APEC summit....
XAGUSD, H4 and Daily By Andria Pichidi - November 12, 2018 Recent US data, such as last Friday's hot PPI numbers, and the Fed's policy guidance following last week's FOMC meeting, have fanned expectations for a resumption in Fed tightening at December's policy meeting, which has underpinned the US currency. The USDIndex has gained 0.5% in posting a 17-month high...
The Kiwi has been on an impressive uptrend over the last week, rising from 0.6519 to 0.6785 against the USD. The first jump took place on November 1, most likely in response to improved economic conditions in the country. As a result of the higher than expected trade deficit, which was driven by higher imports of goods and despite the increase in exports, New...
By Andria Pichidi - November 8, 2018 USA500, Daily US Equities remained sharply elevated with relief gains of 1.5-2.1% on Wall Street after Trump’s wild press conference. This follows Wall Street’s biggest midterm election day rally since 1982, with the USA500 closing over 2%, which is its 2nd-largest post-election rally since at least 1950 (midterm or...
One of the ongoing debates in the US economy, still looming over the election date, is whether a trade deficit is bad or good. Donald Trump suggests that the trade deficit is bad as it means that the US is producing less than it could and hence people are left without jobs. Most economists, on the other hand (here are examples A, B, and C) do not agree with this...
Reversal strategies suggest that markets tend to revert, i.e. a negative movement will be followed by a positive movement, and vice versa. To examine whether markets tend to be trend revert or trend succeed (i.e. a positive movement is followed by a positive movement and a negative movement also by a negative one), we need to check historical prices for evidence...
November 5, 2018 ·Andria Pichidi On Tuesday 6 November, US will proceed with the off-year elections, occurring every 4 years, before the presidential elections. The particular mid elections are expected to affect the markets as the outcome of the election will be important for the future of the President and for the control of the Congress. As the Republicans...
Apple, H4 and Daily November 1, 2018 ·Andria Pichidi Today, FAANG earnings announcements are reaching to an end, with the Apple being the last one releasing its third quarter earnings for 2018 after today’s closing bell on Wall Street. Apple shares, but in general stocks, moved broadly higher, globally, after a mixed session in Asia where Japanese markets...
November 1, 2018 ·Andria Pichidi GBPUSD, H1 and Daily BoE’s Monetary Policy Committee concludes its November meeting today, announcing at midday in London. No changes are widely anticipated for either the repo rate or QE. The Central Bank’s quarterly Inflation Report will provide updated projections on inflation and growth, which it is expect to be little...