Author Archive: Jeremy Parkinson
Following Our ‘Sell Gold’ Call, Precious Metal To Remain Weak
In our previous commentary on gold, we wrote that gold prices would keep falling for three reasons: (1) accelerating US inflation, (2) decelerating growth outside the United States and (3) an ongoing slowdown across emerging markets. Ultimately, all three factors were supportive for the US dollar, gold’s ultimate nemesis. Since that time (May 17), gold prices […]
EURUSD: Pair Technically Ready For A Correction
Previous: On Tuesday the 14th of August, trading on the euro closed down. After a correction to 1.1429 during US trading, the EURUSD pair dropped to 1.1320. The euro lost ground against the dollar despite the fact that the Turkish lira has stabilised. The lira gained 11% against the dollar. Traders shorted the euro on the […]
If The EUR/USD Wants To Recover, Breaking Above 1.1444 Is A Must
The EUR/USD consolidated its losses and is looking for a new direction. In order to stage a recovery and not only a dead-cat bounce, there are some hurdles to cross. The Technical Confluences Indicator shows that the 1.1444 is a convergence of potent technical lines: the Fibonacci 161.8% one-month, the Bolinger Band 4h-Middle, and the Bolinger Band one-day Lower. We also […]
GBP/USD Bearish Breakout Below Bear Flag Chart Pattern
GBP/USD 4 hour Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave The GBP/USD made a bullish retracement and bearish continuation as expected in our wave analysis earlier this week. The GBP/USD broke below the support trend line (dotted blue) for a new low after a bearish bounce occurred at the 23.6% Fibonacci retracement level of wave 4 […]
Stocks For You To Swing-Trade: TTWO, PEGI, SONC
Wednesday’s Swing-Trades: Long Take-Two Interactive Software (TTWO) Long Pattern Energy Group (PEGI) Short Sonic (SONC)
Cotton Recent Fall Presents An Interesting Buying Opportunity
Cotton is an important agricultural crop used for the apparel industry. Cotton-made products are known for their quality, beauty, and their durability but lightweight. As the world’s population has increased, so has the need for cotton. This is because every day, cotton-made clothes are worn by more than 6 billion people. Cotton’s producing industry is […]
Crude Oil Prices May Fall If EIA Inventory Data Echoes API Call
Crude oil prices swung lower as members of a UK union at three Total-owned rigs agreed to negotiations on hours and pay following a series of strikes. The news hinted at the possibility that further supply disruption might be avoided. The down move as amplified as API reported that US inventories unexpectedly added 3.66 million barrels […]
S&P 500 And Nasdaq 100 Forecast – Wednesday, August 15
S&P 500 The S&P 500 had a positive session, gaining over 0.5% during the day, but it wasn’t the easiest day to be in the market. I recognize that there is still a significant amount of resistance above, and that the 2880 handle continues to be major supply. I believe in short-term pullbacks, as a […]
E Investors Brace Themselves For Possible EM Contagion
The Turkish balance of payments crisis threatens to spread to key emerging markets which have amassed huge foreign currency debts, especially in the private sector. If the Turkish economy can be knocked so heavily off course, the fear is that South Africa, India, Indonesia, Argentina and, possibly Brazil, could be next line to rattle international […]
AUDUSD Daily Analysis – Wednesday, August 15
AUDUSD extended its downside movement from 0.7453 to as low as 0.7222. Further decline is still possible after a minor consolidation and next target would be at 0.7100 area. Near-term resistance is at 0.7283, only a break of this level could signal completion of the downtrend.
