Author Archive: Jeremy Parkinson
Elliott Wave Analysis: Forex, Oil And BTC/USD
Good day traders! BTC/USD is trading higher, unfolding a clear bullish movement which indicates black wave V to be in progress. Specifically, we see price trading choppy and slow for the last few sessions, which also suggest the price to be making a corrective pullback within uptrend. We see a potential EW triangle correction unfolding […]
USD/CAD Daily Analysis – Friday, November 24
USD/CAD is now facing 1.2666 support. A breakdown below this level could signal resumption of the downtrend from 1.2916, then next target would be at 1.2600, followed by 1.2433. Near-term resistance is at 1.2790, only break above this level could trigger another rise towards 1.2916 previous high.
UK Inflation Rate Remains Flat As Employment Levels Fall
Last week’s economic data for the UK was a mixed bag. While inflation remained broadly flat compared to the previous month, wage data indicated worrying signs as employment numbers fell. This comes amid a SME survey result indicating that businesses were preparing to cut their overhead costs to keep up with the price increases. Brexit […]
What Can Stop This Party?
There’s a pretty strong argument to be made that once vol. spikes sustainably, the biggest risk to markets is what JPMorgan’s Marko Kolanovic is calling “quantitative exuberance.” That’s a little bit of an eye-roller. Apparently, everyone had the same idea for their year ahead previews. “Let’s do a riff on ‘irrational exuberance.’” Someone was first with “rational […]
China Deleveraging Hits Corporate Bonds As Cascade Effect Begins
Following the market lockdown during October’s Party Congress, many commentators were disturbed by the continued rise in Chinese government bond yields as we returned to “business as usual”, with the 10-year rising to 4%. At the beginning of this month, we discussed the sell-off (see “China: Shadow Bank Inflows Are Critical To Sustain The Ponzi…But They’re Falling”) and […]
ETH/USD Break Higher Confirmed – Can It Challenge The Peak?
We talked about how the price of Etherium was confined to a narrowing triangle and then how the break to higher ground was yet to be confirmed amid a double-top. Now, the break above uptrend resistance is confirmed, with the price of the crypto-coin leaving the old line behind. However, $410 is still a line of struggle. At […]
Sensex Trades In Green; IT Stocks Top Gainers
After opening the day marginally higher, share markets in India continued the momentum and are presently trading in green. Sectoral indices are trading on a mixed note, with stocks in the IT sector and stocks in the energy sector witnessing maximum buying interest. While stocks in the metals sector are leading the losses. The BSE Sensex is trading up by 95 points (up 0.3%) and […]
Bull Market Breather Or Beginning Of The End?
Stock markets have finally taken a breather over the last fortnight, although the S&P 500 has made a new, marginal, high this week. Cause for concern has been growing, however, in the bond markets where 2yr US bonds have seen a stately rise in yields. The chart below shows the constant maturity 2yr (blue) and […]
EUR/USD Awaits Wave-4 Retracement After Impulsive 3rd Wave Completes
EUR/USD 4 hour The EUR/USD seems to be continuing the uptrend within a wave 5 (purple) of a larger wave 1 (pink). The Fibonacci levels could act as potential resistance for the end of wave 1. 1 hour The EUR/USD is probably building a wave 5 pattern (blue) within wave 5 (purple). For the moment […]
AUD/USD Daily Analysis – Friday, November 24
AUD/USD’s upside movement from 0.7532 extended to as high as 0.7638. Further rise is still possible and next target would be at 0.7650. Above this level could take price to next resistance level at 0.7729. Near-term support is at 0.7570. A breakdown below this level will suggest that the short-term uptrend from 0.7532 is complete, […]
