E USD Index Searching For A Base; A Reversal In View
USD index is still trading bearish, specifically in black wave 5 of 5). We can see the recent rally as a corrective wave 4, that found its resistance at the 96.21 level, from where a new drop occurred. That said, ideally current black wave 5 will now search for support and a low near the […]
Draghi To Attend Jackson Hole – Will EUR/USD Rise?
The European Central Bank is sending mixed messages regarding its next moves. On one hand, the economic situation is improving with growth picking up and employment on the rise. On the other hand, inflation, the ECB’s mandate, is hardly moving. In his Sintra Speech, Draghi talked about reflation replacing deflation and that the ECB will gradually remove stimulus. This […]
EURUSD: Growth To 1.1451 Expected Before The Weekend
Previous: On Thursday, trading on the Euro closed down. During the European session, the single currency depreciated against the Dollar, reaching 1.1371. This sharp drop on the euro was linked to comments from ECB governing council member and governor of Latvijas Banka, Ilmārs Rimšēvičs. He remarked that, due to low inflation in the region, the […]
S&P 500 And Nasdaq 100 Forecast – Friday, July
S&P 500 The S&P 500 rallied slightly during the day on Thursday, testing the 2450 handle. The 2450 handle is massively resistive as it was the previous high in the market, and as a result I think if we can break above there the market will continue to go much higher. Pullbacks will be supported […]
Quick Look: Retail ETFs Face Tough Test
I’ve been fascinated watching the sentiment and price trends in publicly traded retail stocks over the last six months. Unless you have been living under a rock, you are probably aware that Amazon.com (AMZN) has been minted as the front-runner to take over just about every conceivable retail segment in the next decade. Their share […]
Will The US CPI Data Hold Up Or Is There More Disappointment In Store?
Traders will be looking at the consumer price index data to be released today. According to economists polled, consumer prices are expected to rise 0.1% on the month. This would reverse the 0.1% decline seen in the previous month. On a year over year basis, headline consumer prices are expected to rise 1.7%, marking a […]
US Dollar May Fall Further As Soft Inflation Cools Rate Hike Bets
A lull in top-tier European event risk is likely to see traders looking to US CPI data as the next important inflection point. The headline year-on-year inflation rate is expected to fall for a fourth consecutive month to register at 1.7 percent, the lowest since November 2016. A soft result may cool Fed rate hike speculation further, […]
Lose Lose Lose Affair: Farm Lobby Turns Up Heat On Trump Over NAFTA
If Trump decides to stick it to Mexico in the upcoming NAFTA talks, US farming industry will take a hit. In advance of the talks, the Farm Lobby is Pressuring Trump. Trump blames the North American Free Trade Agreement – the “worst trade deal ever” in his words – for millions of lost manufacturing jobs and promises […]
Indian Indices Trade Flat; Realty Stocks Witness Selling
Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the capital goods sector and realty sector witnessing maximum selling pressure. Healthcare stocks are trading in the green. The BSE Sensex is trading down 93 points (down 0.3%) and the NSE Nifty is trading down by 29 points (down 0.3%). The BSE Mid Cap index is trading down […]
USD/JPY Builds Potential Head And Shoulders Reversal Chart Pattern
USD/JPY 4 hour The USD/JPY broke back above the resistance trend line (dotted red) and could be retracing within a wave 2 (orange). The structure is valid unless price manages to break above the 100% level, which would invalidate the wave 2 and potential reversal for a new downtrend. There is also a potential for […]
