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Archives by Year:
Elliott Wave Forecast: US, Euro, And Asian Indices On The Rise
Image Source: PixabayS&P 500, SPY, Nasdaq 100, QQQ, DAX 40, FTSE, ASX 200 Elliott Wave Analysis for Indices: – Current Status: These indices are advancing towards higher levels as indicated by the Elliott wave count. – Trading Strategy: Maintain long positions for the US markets.Euro and Asian Indices: – Recent Movement: These indices have rebounded from […]
EUR/USD Technical Analysis: Bullish Momentum Continues
Image Source: PixabayThe EUR/USD pair has shown impressive strength recently, extending its upward move from the 1.0665 low to reach a high of 1.0816. This bullish momentum suggests further gains may be on the horizon. Short-Term Outlook After a brief consolidation period, we could see the pair continue its rally in the coming days. Here are […]
Four Stocks To Watch This Week
Image Source: PixabayThe market continues to behave erratically, meaning a ‘low dollar’ environment is more suitable for a cautious approach. Here are four stocks to keep an eye on this week: ACN (bullish) – A classic post-earnings OVI Pullback Reversal with a consolidation on a Key Level. This stock should rise on any encouragement above the recent week’s […]
Asia Morning Bites For Thursday, July 4
Image Source: Unsplash Global Macro and Markets Global Markets: US Treasury yields drifted lower again on Wednesday ahead of today’s Independence Day holidays. 2Y yields fell 3.5 basis points while the yield on 10Y Treasuries fell 7.3bp to 4.359%. The Chicago Fed President, Austan Goolsbee (one of the more dovish members of the FOMC) told the […]
Lacklustre Data Fuels Rate Cut Optimism
Image Source: UnsplashThe S&P 500 hit yet another record high on Wednesday during an extended holiday session, as lacklustre economic data fueled hopes for sooner-than-expected interest rate cuts. For US investors, this was music to their ears. The market had been buoyant, thanks to Federal Reserve Chair Jerome Powell’s hints about progress in curbing inflation.It certainly […]
USD/CAD Remains On The Defensive Below 1.3650 On Weaker US Data, Softer US Dollar
Photo by Michelle Spollen on Unsplash USD/CAD remains under selling pressure near 1.3640 in Thursday’s early Asian session. The US service sector fell into contraction territory in June. Higher crude oil prices continue to support the commodity-linked Loonie. The USD/CAD pair trades on a softer note around 1.3640 during the early Asian session on Thursday. The softer Greenback […]
Tap Tesla’s Better-Than-Expected Q2 Deliveries With These ETFs
Image Source: PixabayTesla Inc. (TSLA – Free Report) rose more than 10% on Jun 2 to its highest level in six months following stronger-than-expected vehicle delivery numbers for Q2. The numbers point to improved demand that may help ease concerns around excess inventory for its flagship Model 3/Y.Investors seeking to tap the strong growth should buy ETFs having […]
Crude Oil Rallies After Sharp Drawdown In EIA Supplies, WTI Reclaims $83
Image Source: Unsplash Crude Oil markets rebound after EIA reports a significant drawdown in US stocks. WTI still remains below the early week’s peaks. Geopolitical concerns continue to add a risk premium to energies. West Texas Intermediate (WTI) US Crude Oil bounced into the high end on Wednesday, climbing back towards $83.50 per barrel after an early […]
Gold Takes Off As FOMC Minutes Weighed On USD
Image Source: Pixabay Gold climbs, spurred by weak US economic data and rising Fed rate cut expectations. FOMC Minutes: readiness to hike rates if inflation persists, but current policy seen as restrictive. ISM shows contracting US services activity; labor market data reveals higher unemployment claims, decreased private hiring. Attention turns to Friday’s Nonfarm Payrolls, with US […]
Bitcoin to trade sideways until Fed meeting, says crypto exec
Key Takeaways Bitcoin dropped 2.7% after Fed Chair Powell’s remarks on maintaining higher interest rates. Crypto markets face potential volatility due to Fed’s cautious approach to rate cuts. The Fed’s Chairman Jerome Powell spoke at Sintra yesterday and doubled down on his moderate tone shown recently. Powell reinforced that the Fed needs to be more […]
