Author Archive: Jeremy Parkinson
EURGBP’s Correction Rebound Extended To 0.8992
EURGBP extended its upside movement from 0.8746 to as high as 0.8992, breaking above a major resistance level at 0.8899, indicating that correction for the downtrend from 0.9306 is underway. Further rise is still possible in the coming days. EURGBP 4-hour Chart The EURGBP pair stays in a bullish price channel on its 4-hour chart. […]
Weekly Economic & Political Timeline – Monday, Oct. 9
This week will see a similarly weighty yet thin news agenda like last week, with some items of key U.S. economic data due towards the end of the week starting on Wednesday. There is no Central Bank input coming from any other source. The market will probably be most active on Friday. Monday is a […]
Above The 40 – Stock Market Lift-Off
AT40 = 73.8% of stocks are trading above their respective 40-day moving averages (DMAs) – overbought day #7AT200 = 59.7% of stocks are trading above their respective 200DMAsVIX = 9.7Short-term Trading Call: bullish Commentary This is what a lift-off for an extended overbought rally looks like. The S&P 500 (SPY) followed its upper-Bollinger Band (BB) the entire week […]
Brexit Disaster Looms As UK Government Power Struggle Erupts
UK voters were never very bothered about membership of the European Union (EU) before the Brexit vote last year. Opinion polls instead showed they shared the general feeling of voters everywhere – that their country was heading in the wrong direction, and it was time for a change. Now, last week’s Conservative Party conference showed that […]
US Dollar Gains Ground As Politics Weigh On The Euro And British Pound
The US dollar index rose to its strongest level in over two months, while short-dated US Treasury yields climbed to a nine-year high, after data inside the September Non-farm payrolls job report showed the largest gain in US wages since December 2016, further boosting hopes on an interest rate hike from the Federal Reserve this […]
Macro Mondays: Correction
What is a ‘Correction’? A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a […]
NZD/USD Remains Under Pressure
The NZD/USD has picked up the bearish tone once again overnight and into the London session as two primary forces continue to pressure the pair lower. The first of these is the continuing political uncertainty surrounding the currency with the recent election failing to deliver any clear mandate for either of the major parties […]
Dividend Income September 2017
Each month I will publish my dividend income. I will mainly do this for staying self motivated and to give you the readers the chance to follow my journey from the beginning on. The dividend income in the first couple of years will be on a very low level but investing in dividend stocks is […]
Weekly Gold Forecast – Monday, October 9
Gold prices rose $7.72 on Friday, recouping earlier losses, and settled at $1276.15 an ounce as traders assessed the likelihood of a December rate hike in the wake of a mixed employment report. Better risk appetite in the marketplace, as well as a strengthening greenback the past four weeks, have been bearish elements for the […]
EUR/USD Falling Wedge At 23.6% Fib Indicates Potential Bullish Reversal
EUR/USD 4 hour The EUR/USD is building a falling wedge chart pattern (blue/orange lines), which could indicate a bullish reversal. A bearish breakout below support (blue) and the 23.6% Fibonacci level of wave 4 (blue) could see price fall towards the 38.2% Fibonacci level near 1.15 whereas a bullish breakout could see price test the […]
