Author Archive: Jeremy Parkinson
Yen Short Squeeze Extended
Sparked by fears that the BOJ took a step toward the monetary exit by reducing the amount of long-term bonds it is buying, there is an apparent scramble to cover previously sold yen positions. Th dollar finished last week near JPY113.00. It fell to about JPY112.35 yesterday, near the 50% retracement of the greenback’s bounce from […]
GBP/USD Slips Under 1.35 Amid More Mediocre Data, Rising US Yields
Pound/dollar remains under pressure and it is now trading under the round number of 1.35. At current levels, this is a drop of around 50 pips on the day. The low so far is 1.3489. The latest trigger came from the mediocre data released in Britain, but worries about Brexit push Sterling down. In addition, […]
Bitcoin Fans Should Be Patient
Bitcoin is in a corrective phase according to my Elliott Wave analysis. Price is expected to move lower towards 10-8k area before resuming higher. Traders should be patient and look for bullish reversal and setups at those levels and not sooner. So far price follows the wave scenario we showed in previous posts.
Bitcoin Forecast – Wednesday, Jan 10
BTC/USD Bitcoin fell during most of the trading session against the US dollar on Tuesday, but found the $14,000 level to be supportive enough to make the market turn around and bounce towards $15,000 above. The resulting candle is a hammer, and it looks likely that we could see buyers jump into the market if […]
Retail Sweet Sixteen
As I make my way to Copenhagen, I wanted to offer up a post with enough charts to allay my blogger’s guilty for a good long while, because Wednesday is going to be largely “shot” for me. I’ve got a ton of short positions, but I decided to hone in on my favorite sector now, […]
Sensex Trades In The Red; Capital Goods Stocks Top Losers
After opening the day on a positive note, Indian share markets witnessed selling pressure and are currently trading in the red. Sectoral indices are trading mixed, with stocks in the capital goods sector and stocks in the consumer durables sector witnessing maximum selling pressure. The BSE Sensex is trading down 83 points (down 0.2%) and the NSE Nifty is trading down 30 points (down 0.3%). […]
Oil Clings To 3-Year High
Oil prices continue to remain high, bolstered by OPEC’s production cuts and a decrease in global inventories. Brent crude futures were trading at $69.16 per barrel, up 0.49 percent, and U.S. WTI futures were up 0.78 percent to $63.45 per barrel at 2:03 p.m. HK/SIN on Wednesday. On Tuesday the American Petroleum Institute divulged that […]
The US Dollar Rose Despite The Fed’s Position
During yesterday’s trading session, the US dollar continued to recoup despite mixed statements of the Federal Reserve System representatives on the prospects for monetary policy. As the FOMC member Kashkari said, the Fed intends to keep interest rates at the previous low level to support the growth of inflation and wages. The US dollar index […]
Gold Update – Half Cycle Low?
Gold will probably trigger another whipsaw back down into its daily cycle low. Video Length: 00:07:57
Market Now Entering Mania Phase, Says Strategist
We’ve witnessed the remarkable stock market performance in the last year and a half, with the Dow Industrials and S&P 500 not experiencing a 3 percent or greater pullback during this parabolic rally. “This has never happened before in history,” Dorsch told Financial Sense Newshour. “There’s virtually no fear in the market for a pullback,” […]
