GBP/USD Breaks Contracting Triangle Pattern In Bearish Channel
GBP/USD 4 hour The GBP/USD is building lower lows and lower highs which makes a bearish ABC (grey) a bit less likely and a wave 123 (green) more probable, although a bearish breakout below support (blue) is still needed to confirm. The wave 4 (orange) correction is less likely if price breaks above the resistance […]
S&P 500 And Nasdaq 100 Forecast – Friday, Oct. 20
S&P 500 The S&P 500 initially fell during the Thursday session, but found enough support near the 2545 level to turn things around and rally significantly. By doing so, we ended up forming a massive hammer, which of course is a very bullish sign. I think that the market forming this hammer suggests that we […]
EC The Little Market That Could
So what do you think of the market? Why are both actual and implied volatility so low? Why are the moves so small, but predominantly up? Is this the closest impression of the Chinese Water Torture that a stock market can pull-off? Why doesn’t the market care about external and internal risks? Doesn’t it know […]
Canada’s Hunt For Taxes Turns On Minimum Wage Earners
The hunt for taxes has turned to employees of companies. Any benefit you give an employee is considered “soft-income” and is to be taxed. In the USA, the maximum value of a gift I can hand an employee is $25. I can’t even give them a decent bottle of champagne for New Years. In Canada, […]
CBN Sells Treasuries To Mop Up Naira
The Central Bank of Nigeria on Thursday sold another N98 billion of Treasury securities to reduce Naira liquidity and support the currency. The apex bank sold the 91-day bill at a higher interest rate of 16 percent, while the 196-day bill was offered at 17.81 percent. Total subscriptions were N194.6 billion. This was after 10.25 […]
Stocks To Trade: AMTD, MSFT, TSLA
Friday’s stock picks: Long TD Ameritrade (AMTD) Long Microsoft (MSFT) Short Tesla (TSLA)
EUR/USD: The ECB Should Take Notice Of EUR Overshooting
Tension is growing towards the ECB decision. What kind of tapering can we expect? Here is the view from Bank of America Merrill Lynch. Here is their view, courtesy of eFXnews: Bank of America FX Strategy Research argues that going into next week ECB October policy meeting, the central bank should take notice of the risk […]
Gold Rise As Dollar Weakens
Gold prices rose for the first time in four sessions and settled at $1289.76 an ounce as a softer dollar lent some support to the precious metal. XAU/USD traded as high as $1291.06 after the bulls pushed prices above the $1284-$1282 zone. Currently the market is in the process of testing this area as a […]
EURUSD: News From The US Sinks Buyers
Previous: On Thursday the 19th of October, trading on the euro/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro’s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government’s intention to impose direct rule on Catalonia after the region’s […]
USDCAD Daily Analysis – Friday, Oct. 20
USDCAD is facing the key support at 1.2433. A breakdown below this level will indicate that the upside movement from 1.2061 had completed at 1.2598 already, then the following downside movement could bring price back to next support level at 1.2300, followed by 1.2061. Resistance is at 1.2598, a breakout of this level could signal […]
