EURUSD Daily Analysis – Friday, Nov. 24
EURUSD is facing 1.1879 resistance. A breakout of this level could signal resumption of the uptrend from 1.1554, then next target would be at 1.2000, followed by 1.2092 (Sep 8 high). Near-term support levels are at 1.1770 and 1.1712. Below these levels could trigger further decline towards 1.1554. Breakthrough here will indicate that the downtrend […]
GBP Needs Fundamental Support To Justify Current Levels
We remain neutral on GBP at this moment but will be watching a range of fundamental drivers over the next week for confirmation that Sterling’s current strength is justified going forward. And on the charts, GBP/USD is trading around a recent six-week high, a level that needs to broken, and closed above, if the latest rally is to […]
Bitcoin Moves Above $8,000 To All-Time High
The recent action in Bitcoin probably makes it relatively easy for the media to write stories about the currency. For some time now, we have consistently seen titles on Bitcoin’s sequence of all-time high and sometimes the move up is linked to the denial of a proposed change in the network, called SegWit2x. In an […]
Chair Yellen Resigns
To no one’s surprise, Chair Yellen has announced her intention to resign effective upon the swearing in of her successor, Jerome Powell. Since Governor Powell’s confirmation hearing is set for November 28 of this year, it is possible for him to be confirmed and sworn in before the January 30–31, 2018, initial FOMC meeting, meaning […]
Max Keiser: Bitcoin To Reach 100,000 USD
Bitcoin will continue its domination of the crypto market, according to Max Keiser. Keiser is a renowned crypto-activist, former Wall Street broker, and the host of RT’s Keiser Report. Keiser said in an interview on RT that despite all the bitcoin bashing from various bankers, the currency will grow from its current level of around […]
USD/JPY Down Due To A Flattening Yield Curve
Strength can be seen in the Yen, as strong PMI Manufacturing data in Japan may suggest a strengthening in their large Export sector. Yield curves have flattened on US Treasuries, causing some allocation of funds out of US Treasuries and perhaps into other asset classes, that may be outside of USA and thus, some selling […]
EUR/USD: Turning Tactically Bullish; Upside Targeting 1.2050
We have seen how EUR/USD finds any excuse to rise and rise a bit more. The team at BTMU updates the targets for the pair: Here is their view, courtesy of eFXnews: BTMU FX Strategy Research discusses EUR/USD outlook for the coming week, and makes the case for further upside towards 1.2050 and expects 1.1650 to cap any downside […]
The Amazon Effect
One of the ongoing puzzles of the US economy in recent decades is why inflation has stayed so low. Even outgoing Fed Chair Janet Yellen has highlighted this puzzle. The “Amazon effect” may be part of the answer: basically, the Amazon effect is that a higher level of competitive pressure from the rising level of online […]
The US Oil Situation
The price of oil is finally rising… it can go significantly higher. “Davidson” submits: The US Oil Situation reports from the EIA (US Energy Information Administration) routinely result in sharp shifts in energy prices based on the rise/fall of crude or gasoline inventories versus week-ago levels. For many, this appears a simple relationship, easy to […]
Fintech Innovation – Where Is It Headed?
We have clearly entered into a new world in terms of financial technology that is slowly but surely altering the landscape of banking, payments systems, and even perhaps legal tender currencies. All this technological innovation is filled with buzzwords and companies trying to become “the next big thing” that changes the world in a truly […]
