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Elliott Wave Technical Analysis: British Pound/U.S. Dollar – Thursday, Aug. 29
GBPUSD Elliott Wave Analysis Trading Lounge Day Chart British Pound/ U.S. Dollar (GBPUSD) Day ChartGBPUSD Elliott Wave Technical Analysis FUNCTION: Bullish Trend MODE: Impulsive STRUCTURE: Gray Wave 1 POSITION: Orange Wave 3 DIRECTION NEXT LOWER DEGREES: Gray Wave 2 DETAILS: Orange wave 2 of 3 appears to be completed, with gray wave 1 of 3 currently unfolding.The GBPUSD pair currently demonstrates a bullish trend, […]
Eurozone Sentiment Ticked Up In August
Image Source: Pexels French Olympic optimism blurs the picture of the eurozone economy. Overall, the second half of the year is set to be one of sluggish growth and still elevated inflation.The Economic Sentiment Indicator was mainly boosted by the French data, which immediately suggests that optimism around the Olympics boosted sentiment, similar to the PMI. Oddly, it’s […]
Are Rate Cuts Actually Bullish And Can We Trust The Fed To Get It Right?
Image source: Pixabay The Fed’s historical track record shows that it may not be reliable in guiding the economy towards recovery. The Fed is likely to begin a rate-cutting cycle in response to easing inflation and rising employment risks. While rate cuts are often seen as bullish, historical data and context may tell a different […]
Nvidia’s Good Report Did Not Impress Investors
Image Source: Unsplash At Wednesday’s close, the Dow Jones (US30) was down 0.39%, while the S&P 500 (US500) decreased by 0.60%. The Nasdaq Technology Index (US100) closed negative 1.12%. The US stocks fell on Wednesday as investors awaited Nvidia’s much-anticipated earnings report. All sectors were down, with the tech sector declining as Nvidia shares fell 2.6% in the main session. After the close of […]
Gold Rises On Nvidia Disappointment, Revival Of China Demand
Image Source: Unsplash Gold is rising as markets digest disappointing Nvidia earnings, now a macro event given the company’s size and importance. A revival of Chinese demand for the precious metal further supports the price. Technically, XAU/USD trends sideways, with odds still favoring an eventual break higher given the broader uptrend. Gold (XAU/USD) trades about […]
Dogecoin And Shiba Inu: Dogecoin In A Slight Uptrend
Dogecoin chart analysisThe price of Dogecoin has moved significantly from yesterday’s low, and further indications suggest that we could see a bigger recovery. We are now at 0.10100 and close to testing the EMA 50 moving average. With a break above, the moving average will support us, and it will be easy for us to continue on […]
Sensex Today Trades Marginally Lower; Nifty Holds 25,000
Asian markets traded lower tracking overnight losses on Wall Street.Japan’s Nikkei 225 fell 0.6%, while the Topix declined 0.1%. South Korea’s Kospi dropped 1% and the Kosdaq fell 0.6%.The US stock market ended lower on Wednesday ahead of a quarterly earnings report from Nvidia.The Dow Jones Industrial Average declined 0.4% to 41,091.4, while the S&P […]
Knee-jerk Policies Brings Bad Consequences
Image source: Pixabay The Government and Fed must preserve their power and benefits for the rulers. When there is a perceived crisis (real or imaginary), they immediately swoop in like Mighty Mouse to save the day, instituting (emergency) policies. They don’t want unhappy citizens storming the palace.They might save today, but they have no regard for […]
Two Reasons For The Market Turnaround
Image Source: Pixabay We come into Thursday with the market in mild profit taking mode. The US Dollar has rallied back a bit and US equities have reversed lower. Once again, it’s hard to put too much behind any of this price action given the super thin end of summer trade.Video Length: 00:01:21More By This Author:Pound […]
BTC/USD Forex Signal: More Downside Expected As Sentiment Wanes
Bearish view Sell the BTC/USD pair and set a take-profit at 56,000. Add a stop-loss at 62,000. Timeline: 1-2 days. Bullish view Set a buy-stop at 60,500 and a take-profit at 62,000. Add a stop-loss at 56,000. Bitcoin remained on edge overnight as demand for the coin waned. After peaking at 64,955 last week, the BTC/USD […]
