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Archives by Year:
The Risk Of Recession Isn’t Zero
As we discussed recently, Wall Street economists increasingly believe the risk of recession has fallen sharply. To wit: “Economists don’t think the economy will get even close to a recession. In January, they, on average, forecast sub-1% growth in each of the first three quarters of this year. Now, they expect growth to bottom out this year at an […]
USD/CAD Falls Toward 1.3700 As US Dollar Offers Gains Ahead Of Economic Data
USD/CAD halts its four-day winning streak, trading around 1.3720 during the European session on Friday. However, the US Dollar (USD) advanced against the Canadian Dollar (CAD) during the earlier hours of the Asian market due to the emergence of the risk aversion sentiment. This could be attributed to the higher-than-expected Purchasing Managers Index (PMI) data released on Thursday from […]
Exxon Mobil Inc.Stocks Elliott Wave Technical Analysis – Friday, May 24
XOM Elliott Wave Analysis Trading Lounge Daily Chart,Exxon Mobil Inc., (XOM) Daily ChartXOM Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ZigZagPOSITION: Wave {iv} of 1.DIRECTION: Bottom in wave {iv}.DETAILS: Correcting deeper than expected in wave {iv}, but we could still turn higher as we approach 110$. XOM Elliott Wave Analysis Trading Lounge 4H Chart,Exxon Mobil Inc., (XOM) […]
Elliott Wave Technical Analysis: Australian Dollar/U.S.Dollar Forex
Image Source: UnsplashAUDUSD Elliott Wave Analysis Trading Lounge Day ChartAustralian Dollar/U.S.Dollar (AUDUSD) Day ChartAUDUSD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: correctiveSTRUCTURE: blue wave 2POSITION: black wave 3DIRECTION NEXT HIGHER DEGREES: blue wave 2DETAILS: Blue Wave 1 is looking completed at 0.67165. Now blue wave 2 of 3 is in play.Wave Cancel invalid level: 0.63628The AUDUSD Elliott Wave analysis on the day […]
Pound Sterling Dips Further Below 1.2700 On Weak UK Retail Sales
Image Source: Pixabay The Pound Sterling falls sharply to 1.2670 as UK Retail Sales contracted at a faster pace than expected. Weak UK Retail Sales data for April suggests a soft inflation outlook. The US Dollar strengthens after upbeat US preliminary PMI report for May. The Pound Sterling (GBP) extends its downside to 1.2670 against the […]
Copper Price Analysis As Star Hedge Fund Manager Raises Target
Image Source: Pixabay Copper has jumped sharply this year and is now sitting at its all-time high. Pierre Andurand, a well-known trader, has raised his forward guidance. He expects that the price of copper will jump to over $40,000. Copper price is having a remarkable year as it soared to a record high this month amid […]
German Economy Leaves Stagnation Behind
Image Source: PixabayThe second estimate didn’t change anything; the German economy left the period of stagnation behind in the first quarter of the year. The return to growth benefited from the GDP downward revision for the fourth quarter and a pick-up in construction activity as well as net exports. In more detail, GDP growth came in at […]
WMT, TGT, COST: What Retail Sector News And Moves Say About Consumer Spending
Image Source: UnsplashI was at a dinner party recently and was seated next to a plastic surgeon. During our conversation, he said this is the first time he has seen a downswing in his business and attributed it to the impact of inflation and reduced spending power. Walmart Inc.’s sudden success in attracting more affluent customers to its stores […]
Metals Report For Thursday, May 23
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in the gold and other relevant metal markets.Video Length: 00:16:56More By This Author:SPDR ETF Report For Thursday, May 23SPDR ETF Report For Wednesday, May 22Metals Report For Wednesday, May 22
Elliott Wave Technical Analysis: ChainLink Crypto Price News For Friday, May 24
Image Source: PexelsElliott Wave Analysis TradingLounge Daily Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: Wave C May be complete and the price increase again in Wave A or I.ChainLink/ U.S. […]
