Author Archive: Jeremy Parkinson
South African Rand Collapse Continues As Hopes On New President Fade
The year started well for the South African rand as traders placed their hopes with the new administration. As the year ended, the regime of the corrupt leader, Jacob Zuma ended and he was replaced by his deputy, Cyril Ramaphosa. Ramaphosa was a favorite for investors. As an accomplished businessman, they believed that he would […]
Gold Prices Plunge As Easing Market Panic Boosts Bond Yields
Gold prices sank to the lowest level in 19 months as the US Dollar held onto its crisis-inspired gains while Treasury bond yields recovered. That undercut support for non-interest-bearing assets epitomized by the yellow metal. Rates edged up as the dust began to settled after Friday’s bloodletting in emerging markets spilled over into broader risk aversion. Turkey’s central bank announced an […]
AUDUSD Daily Analysis – Tuesday, August 14
AUDUSD’s downside movement from 0.7453 extended to as low as 0.7256. Further decline is still possible and next target would be at 0.7200 area. Resistance is at 0.7321, only a break of this level could signal completion of the downtrend.
Can EUR/USD Rise Up After The Turkish Crisis?
The EUR/USD is still trading on the low ground following the Turkish crisis. Has it found a bottom? The Technical Confluences Indicator shows that the 1.1392 level is robust congestion of technical levels. This includes the 52-week low, last month’s low, last week’s low, the Fibonacci 61.8% one-day, the Simple Moving Average 10-4h, and the Bolinger Band one-hour low. Further down, 1.1365 is […]
Gold Falls On Strong Dollar, Technical Selling
Gold prices dropped $17.89 an ounce on Monday as the U.S. dollar continued to appreciate. Some chart-based selling was also behind gold’s 1.47% decline yesterday. XAU/USD extended its losses and tested the support at $1194 as expected after the market dived below the $1206 level. Another negative for gold today is softer-than-expected Chinese economic data […]
GBP/USD Chart Pattern Indicates Wave-4 Correction In Downtrend
GBP/USD 4 hour Source: Admiral Markets MT5 with MT5SE Add-on GBP/USD motive wave The GBP/USD is building a triangle pattern after breaking below the support line (dotted blue) of the downtrend channel. A new bearish breakout could indicate an immediate continuation within wave 3 (blue), which could fall towards the Fibonacci targets of wave 3 vs 1. 1 hour […]
Stocks For You To Swing-Trade: SQ, FFIV, DPLO
Tuesday’s Swing-Trades: Long Square (SQ) Long F5 Networks (FFIV) Short Diplomat Pharmacy (DPLO)
Sensex Opens In Green; Metal & Realty Stocks Gain
Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.2% while the Hang Seng is down 1%. The Shanghai Composite is trading down by 0.4%. US stocks dropped on Monday as global jitters from Turkey’s plummeting currency spread to Wall Street, with the S&P 500 and the Dow falling for the fourth session in a […]
S&P 500 And Nasdaq 100 Forecast – Tuesday, August 14
S&P 500 The S&P 500 has been very noisy during trading on Monday, as traders came back from the weekend. It has been very difficult to get a handle on the trading during the day, as we gapped lower but then rumors came out that perhaps the Turkish were going to release the pastor that […]
Gasoline Price Update: Regular And Premium Down A Penny
The price of Regular and Premium were both down a penny from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.70 and San Francisco, CA is the most expensive city, averaging $3.74. South Carolina has the cheapest at $2.53. The WTIC end of day spot price, yesterday closed at 67.20, […]
