EUR/CHF Price Prediction: Falling Lower After Break Out From Triangle Pattern
EUR/CHF falls lower after breaking out of a Triangle pattern. It will probably continue to decline until it reaches the next downside target, which has been revised up to 0.9145 – 0.9150. This is the 61.8% Fibonacci extrapolation of the height of the Triangle lower, the target generated using technical analysis theory. EUR/CHF Daily Chart The bearish trend […]
USD/CAD Holds Key Support Of 1.3950 As Us Dollar Resumes Upside
Photo by Michelle Spollen on Unsplash USD/CAD sustains above 1.3950 as the near-term outlook of the US Dollar remains firm. US Initial Jobless Claims came in lower at 213K than estimates of 220K. Traders have trimmed BoC outsize interest rate cut bets for the December meeting. The USD/CAD pair ticks down but holds the immediate support of […]
China’s Puts Export Curbs On Minerals US Needs For Weapons And Technology
In a warning shot to the Trump administration, China tightens export controls on some dual-use minerals.Nikkei Asia reports China to Tighten Export Curbs on Critical Metals Ahead of Trump’s Return. China plans to tighten export controls on key “dual-use” technologies and items in two weeks, including raw materials and metals such as tungsten, graphite, magnesium and […]
Nvidia’s Own Success Is Standing In The Way Of Its Stock Price Gains
Image Source: Pixabay Nvidia stock slips despite a strong Q3 and upbeat guidance. Continued deceleration in revenue growth is hurting its share price. NVDA is still up some 200% versus the start of this year (2024) Nvidia Corp (Nasdaq: NVDA) dipped in pre-market trading despite handily beating Wall Street estimates for its third financial quarter and issuing […]
Elliott Wave Technical Analysis: Euro/U.S. Dollar – Thursday, Nov. 21
EURUSD Elliott Wave Analysis Trading LoungeEuro/U.S. Dollar (EURUSD) Day ChartEURUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 3 Direction (Next Higher Degrees): Orange wave 4 Details: Orange wave 2 appears completed; orange wave 3 is now unfolding. Wave Cancel Invalid Level: 1.08263 The EURUSD daily chart showcases a counter-trend movement analyzed through the Elliott […]
Why Bets Are Rising On A December Rate Cut In Turkey
Image source: Pixabay The Central Bank of Turkey kept rates on hold at 50% at its November rate-setting meeting, in line with consensus. The latest MPC statement includes changes that provide additional support to expectations of an easing cycle beginning in December. A few highlights to note from the accompanying statement to the CBT’s decision to keep rates on hold:The CBT […]
GBP/USD Analysis: Struggles Near 6-Month Low Amidst Uncertainty
The gains made yesterday by the GBP/USD currency pair to the resistance level of 1.2715 quickly evaporated. Concurrently, it returned to stabilizing around its six-month low, currently around the 1.2650 support level at the time of writing this analysis. This comes ahead of the announcement of a package of important US economic data and statements […]
Nvidia’s Guidance Weighs On Equity Futures
Image Source: Pexels Equity futures, which are being pulled lower by a pre-market decline in Nvidia (NVDA) shares, point to a soft market open later this morning. While Nvidia delivered October quarter results that topped market expectations, its January quarter top-line guidance of $36.75-$38.25 billion encapsulated the $37 billion consensus forecast but fell short of more lofty […]
Forex: Navigating The Digital Frenzy, FX Markets Still Pack A Punch
THE POST-ELECTION EFFECTIt’s fascinating to observe how the U.S. dollar is strutting along a familiar path, echoing its post-election swagger from 2016. Two weeks post-election, and the greenback is staging a repeat performance, having ascended by 3%—a figure reminiscent of its 2016 rally, with whispers of another 3% climb by year’s end. As we stand […]
Target And Walmart: Same Business But Different Trends
Yesterday’s Commentary shared Walmart’s outstanding earnings report and reviewed its surging share price from a technical basis. Despite being a head-to-head competitor of Walmart, Target is heading down a completely different path. Walmart beat EPS and revenue expectations easily, while Target was short. Target reported EPS of $1.85, well below estimates of $2.30. Unlike Walmart, which raised […]
