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World Markets Update – Tuesday, Oct. 9
Four of eight indexes on our world watch list have posted gains through Monday, October 8, 2018. The top performer this year is our own S&P 500 with a gain of 7.89%. In second is Tokyo’s Nikkei 225 with a gain of 4.48%. In third is India’s BSE SENSEX with a gain of 1.96%. Coming […]
USD/JPY Testing Key 50% Fibonacci Support At 112.83
USD/JPY 4 hour Source: Admiral Markets MT5 with MT5 USD/JPY motive wave – Accessed 9 October 2018 at 5:30 AM GMT The USD/JPY currency pair broke below the support trend line (dotted green) for a bearish breakout, but the price is now approaching the Fibonacci retracement levels of wave 4 vs 3. The 50% Fibonacci retracement level at 112.83 could be a key bounce or a […]
China Reopens With Another Dollar Warning
It’s one of those useless explanations that while technically true tells us nothing of value about the situation. The Chinese are never boring when coming back from a Golden Week holiday. This weekend was no exception, China’s reopening bringing with it the news of yet another cut in that country’s bank reserve requirement ratio (RRR). […]
Stocks For You To Swing-Trade: FB, GOOGL, WDAY
Tuesday’s Swing-Trades: Take a look at three trading ideas to prep you for the next trading session. Long Facebook (FB) Long Alphabet (GOOGL) Short Workday (WDAY)
USD/CAD Daily Analysis – Tuesday, Oct. 9
USD/CAD failed to break above the falling trend line on the 4-hour chart and pulled back from 1.3009. Near term support is at 1.2920, as long as this level holds, another rise to test the trend line resistance is still possible and a breakout could take the price to 1.3100 area. On the downside, a […]
European High Yield Faces Two-Headed Hydra From Italy, EM FX
Over the past several months, Italian budget risk and EM FX woes have taken turns denting risk sentiment. The old “If it’s not one thing, it’s another” refrain very often takes the form of “If it’s not turmoil in EM FX, it’s a bloodbath in Italian assets“. But Italy jitters and EM woes aren’t mutually […]
IMF Slashes US Growth Outlook, Blames Rates & Trade; Sees Venezuelan Inflation 10-Million-Percent
Confirming Director Lagarde’s warning that Director Lagarde’s warning that The International Monetary Fund is downgrading its outlook for the world economy, citing rising interest rates and growing tensions over trade. The IMF said Monday that the global economy will grow 3.7 percent this year, the same as in 2017 but down from the 3.9 percent it was forecasting for […]
Sensex Opens In Green; Yes Bank & Adani Ports Top Gainers
Asian stocks are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.9% while the Hang Seng is up 0.4%. The Shanghai Composite is trading up by 0.5%. Meanwhile, the Nasdaq fell on Monday for the third straight day as a sell-off in Chinese markets sparked concerns about slowing global economic growth, though the S&P 500 pared losses […]
EUR/USD Still In Bearish Trend
Good morning everyone!!! EUR/USD remains inside the bearish channel. Price backtested the broken short-term blue support trend line and got rejected. As long as we trade below 1.1545 we should expect a move towards 1.14-1.1420. I believe we are in the final stages of the decline from 1.18 and we should find a tradeable bottom […]
AUD/USD Faces Price Recovery Risk Off Recent Low
AUD/USD faces price recovery risk as it looks to follow through higher on the back of Monday higher close. Support comes in at the 0.7000 level where a breach will aim at the 0.6950 level. Below that level will set the stage for a move towards the 0.6900 level. A cut through here should target […]
