EURUSD: Trend Line Broken
Previous: On Wednesday the 29th of November, trading on the euro/dollar pair closed slightly up. Buyers recovered all their intraday losses during the American session after the British pound made some gains. The pound was boosted by the news that the UK had reached a deal with Brussels “in principle” regarding the EU divorce bill. The […]
WTI Crude Oil And Natural Gas Forecast – Thursday, Nov. 30
WTI Crude Oil The WTI Crude Oil market had a volatile session as one would expect, because we got the Crude Oil Inventories announcement. While the headline number was very bullish, the distillate numbers were a very mixed picture, and of course the fact that a lot of the headline number was due to Thanksgiving […]
Old Republic International Corporation (ORI): Bireme Capital Opens New Position In Q3
Bireme Capital recently released its Q3 investor letter (you can download a copy here) in which the hedge fund discussed its investment thesis on Old Republic International Corporation (NYSE:ORI) and other companies. Bireme Capital opened a new position in the insurance provider during the third quarter. Here are the fund’s comments about Old Republic: Old Republic provides several distinct types of insurance: title, […]
EUR/USD Continuation Of The Rooftop Pattern Below 1.1800
The EUR/USD has formed a huge bearish rooftop pattern with a clear support within 1.1810-00 zone. 1.1865-85 is the POC zone where now moment sellers might be waiting for. Month-end demand can usually be volatile and EUR/USD seem to be offered within the POC zone. Break below 1.1800 and the pair could target 1.1775 and […]
The Asymmetry Of Bubbles: The Status Quo And Bitcoin
Shall we compare the damage that will be done when all these bubbles pop? Regardless of one’s own views about bitcoin/cryptocurrency, what is truly remarkable is the asymmetry that is applied to questioning the status quo and bitcoin. As I noted yesterday, everyone seems just fine with throwing away $20 billion in electricity annually in the […]
AUDUSD Daily Analysis – Thursday, Nov. 30
AUDUSD’s fall from 0.7644 extended to as low as 0.7552. Deeper decline to test 0.7532 support is possible and a breakdown below this level could signal resumption of the downtrend from 0.7897, then next target would be at 0.7450 area. Key resistance is at 0.7644, only break above this level will indicate that the downtrend […]
Gold Swings Down As Dollar Advances
Gold prices closed at their lowest level in a week on Wednesday, under pressure from a stronger dollar rising stock markets. In economic news, the Commerce Department reported that the U.S. economy grew at a 3.3% pace in their third quarter. Federal Reserve Chair Janet Yellen said “We continue to expect that gradual increases in […]
Bitcoin Smashes Through $11,000 In A Wild Swing
Bitcoin continued to surprise investors and analysts as the cryptocurrency blasted through $11,000 a coin to all-time high of $11,395 on Thursday. A 15 percent increase from Wednesday’s peak of $10,787.99. So far, the coin has gained more than 1,000 percent in 2017 even as some experts called for caution and proper regulation of the […]
Further Signs Of Strengthening In The Eurozone
The common currency had opened last week on a somber note as reports about the coalition talks in Germany put Angela Merkel in a weak spot. The euro briefly fell after the news, as the possibility of a snap election emerged. However, the currency managed to recover from the initial decline as economic data from […]
USD/JPY Bullish Breakout Approaches Key 112.50 Resistance
USD/JPY 4 hour The USD/JPY broke above the resistance of the bearish channel (dotted red). The bullish breakout could indicate the completion of wave 2 or wave B (purple) as well. The key levels are the Fibs of wave X (pink) because a bearish bounce could see price fall towards the 61.8% at 110. Strong […]
