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Elliott Wave Technical Analysis: Euro/U.S. Dollar – Thursday, Nov. 21

Nov 21, 2024 Jeremy Parkinson Finance 0

EURUSD Elliott Wave Analysis Trading LoungeEuro/U.S. Dollar (EURUSD) Day ChartEURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 3 Direction (Next Higher Degrees): Orange wave 4 Details: Orange wave 2 appears completed; orange wave 3 is now unfolding. Wave Cancel Invalid Level: 1.08263 The EURUSD daily chart showcases a counter-trend movement analyzed through the Elliott […]

Why Bets Are Rising On A December Rate Cut In Turkey

Nov 21, 2024 Jeremy Parkinson Finance 0

Image source: Pixabay The Central Bank of Turkey kept rates on hold at 50% at its November rate-setting meeting, in line with consensus. The latest MPC statement includes changes that provide additional support to expectations of an easing cycle beginning in December. A few highlights to note from the accompanying statement to the CBT’s decision to keep rates on hold:The CBT […]

GBP/USD Analysis: Struggles Near 6-Month Low Amidst Uncertainty

Nov 21, 2024 Jeremy Parkinson Finance 0

The gains made yesterday by the GBP/USD currency pair to the resistance level of 1.2715 quickly evaporated. Concurrently, it returned to stabilizing around its six-month low, currently around the 1.2650 support level at the time of writing this analysis. This comes ahead of the announcement of a package of important US economic data and statements […]

Nvidia’s Guidance Weighs On Equity Futures

Nov 21, 2024 Jeremy Parkinson Finance 0

Image Source: Pexels Equity futures, which are being pulled lower by a pre-market decline in Nvidia (NVDA) shares, point to a soft market open later this morning. While Nvidia delivered October quarter results that topped market expectations, its January quarter top-line guidance of $36.75-$38.25 billion encapsulated the $37 billion consensus forecast but fell short of more lofty […]

Deere & Company Beats Expectations With Q4 FY’2024 Results

Nov 21, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Unsplash Deere & Company (NYSE: DE) reported a notable decline in its financial performance for the fourth quarter of fiscal 2024, reflecting the challenges faced in the current market environment.The company posted a net income of $1.245 billion, or $4.55 per share, which marks a significant decrease from the $2.369 billion, or $8.26 per share, reported […]

Forex: Navigating The Digital Frenzy, FX Markets Still Pack A Punch

Nov 21, 2024 Jeremy Parkinson Finance 0

THE POST-ELECTION EFFECTIt’s fascinating to observe how the U.S. dollar is strutting along a familiar path, echoing its post-election swagger from 2016. Two weeks post-election, and the greenback is staging a repeat performance, having ascended by 3%—a figure reminiscent of its 2016 rally, with whispers of another 3% climb by year’s end. As we stand […]

Target And Walmart: Same Business But Different Trends

Nov 21, 2024 Jeremy Parkinson Finance 0

Yesterday’s Commentary shared Walmart’s outstanding earnings report and reviewed its surging share price from a technical basis. Despite being a head-to-head competitor of Walmart, Target is heading down a completely different path. Walmart beat EPS and revenue expectations easily, while Target was short. Target reported EPS of $1.85, well below estimates of $2.30. Unlike Walmart, which raised […]

Daily Market Outlook – Thursday, Nov. 21

Nov 21, 2024 Jeremy Parkinson Finance 0

Image Source: Pexels Markets continue to express caution, with participants reluctant to take on significant risk. Asian markets are trading with a mix of gains and losses on Thursday, mirroring the mixed performance on Wall Street overnight. Traders are also keeping a close eye on the growing tensions between Russia and Ukraine, with wires reporting that […]

NZD/USD Under Pressure Amidst USD Strength

Nov 21, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Unsplash The NZD/USD pair is trading near 0.5879, experiencing volatility as the market awaits the upcoming Reserve Bank of New Zealand (RBNZ) meeting. Expectations are leaning towards a significant rate cut, with a 50-basis-point reduction considered the baseline scenario and a 25% probability of a more aggressive 75-basis-point cut.Adding to the uncertainty are pessimistic […]

Current Report: Patterson Companies Inc.

Nov 21, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Unsplash Patterson Companies (PDCO) is a distributor and wholesaler of consumable dental products and equipment. It operates through two business segments, (1) Patterson Dental, and (2) Patterson Animal Health.It generates maximum revenue from the Animal Health segment. Geographically, it derives its revenue from the United States, the United Kingdom, and Canada. The firm derives almost […]