Author Archive: Jeremy Parkinson
Gold Pulls Back From Two-Week Highs
Gold prices ended a choppy trading session lower on Tuesday. Gold prices saw some profit taking from recent gains that pushed prices to a two-week high. A higher U.S. dollar index was also a negative for the precious metal. The greenback firmed after the Conference Board said its index of consumer confidence rose to 133.4 […]
July 2018 US Unemployment Rate
The US unemployment rate fell to 3.9 percent in July 2018 from 4.0 percent in June, matching market expectations. The jobless rate touched an 18-year low of 3.8% in May. The number of unemployed persons declined by 284,000 to 6.3 million and employment was almost unchanged at 156.0 million. Among the major worker groups, the […]
EUR/USD Looks Somewhat Weak After Falling Off Support
The EUR/USD hit monthly highs on Tuesday but lost 1.1700 as the US Dollar found its feet. What’s next? The Technical Confluences Indicator shows that the pair is struggling with 1.1690, which is the convergence of the Bolinger Band 15m-Lower and the Fibonacci 61.8% one-day. If the EUR/USD overcomes this immediate cap, it faces a more substantial cap at 1.1709 which is […]
Crude Oil Prices Eye Inventory Data, Gold May Fall On US GDP
Commodity prices continued to reflect swings in the US Dollar on Tuesday. Unlike the prior two sessions however, this meant weakness as the Conference Board published impressively strong consumer confidence data that sent the benchmark currency upward. Gold prices suffered as the greenback’s gains undermined the appeal of anti-fiat alternatives epitomized by the yellow metal. Meanwhile, crude oil prices succumbed […]
GBP/USD Challenges Support Line After Double Top
GBP/USD 4 hour Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave The GBP/USD made a bearish bounce at the previous top, and the price is now challenging the support trend line (blue). The price will remain indecisive when in between the triangle chart pattern, which is indicated by the support (blue) and resistance (red) trend lines. A bearish breakout […]
AUDUSD Daily Analysis – Wednesday August 29
AUDUSD is facing 0.7381 resistance, a break of this level could trigger a further bullish move to 0.7450 area. Near-term support is at 0.7290, only a breakdown below this level could bring the price back towards 0.7202 support.
Stocks For You To Swing-Trade: WMT, SUM, PXD
Wednesday’s Swing-Trades: Long Walmart (WMT) Long Summit Materials (SUM) Short Pioneer Natural Resources (PXD)
S&P 500 And Nasdaq 100 Forecast – Wednesday, August 29
S&P 500 The S&P 500 couldn’t decide what to do on Tuesday, as it initially tried to rally but then gave back all of the gains to form a bit of a shooting star. By doing so, it looks as if we may need to pullback to build up momentum to continue the overall uptrend. […]
Indian Indices Open Marginally Higher; Metal Stocks Witness Buying
Asian shares are trading on a mixed note today. The Nikkei 225 is up 0.5% while the Hang Seng is up 0.2%. On the other hand, the Shanghai Composite is trading down by 0.35%. Back home, India share markets opened the day marginally higher. The BSE Sensex is trading up by 71 points (up 0.2%) while the NSE Nifty is trading up by 13 points (up […]
Scalping Tips, Backtesting & Options Plays
Video Length: 00:43:45 Today, we take a look at some scalping tips for when the market opens Wednesday, and discuss some brief thoughts on backtesting. Then we go deep into an options play on Skechers (SKX) while we do some early preparation for October earnings.
