A flaw many traders have is the habit of seeking “certainty” via indicators. It’s not uncommon to see charts with 5-7 indicators overlaid on them. However, the traders that seek certainty through indicators are usually the same traders that don’t “dig deep” into the indicator to understand how it’s built.
Today we will “dig deep” into a very useful indicator...
The EUR/CHF pair is currently in between the key levels around 0.97000–0.97900. We might see a bounce from here up to the next resistance of 0.99500 and even up to the 1.00500 level, in confluence with the 50 MA.
However, the overall trend for the EUR/CHF is seemingly bearish, and we could potentially see a revisit to the key resistances below 0.97000.
One...
The US has technically entered a recession in the second quarter 2022 as the economy contracted 0.9% year over year, following a 1.6% decline in the first quarter. However, the official body that is tasked to make a call on whether the economy is in a recession has yet to declare that the US is in fact in an economic downturn.
Slowdown in private and public...
The US dollar has retreated against its major trading pairs over the past two weeks, but notably, the USDJPY has seen one of the most interesting pullbacks. After peaking on July 14, the USDJPY has fallen more than 4% from a peak just below 139.500.
The 2-week weakening streak may continue as the sentiment from the previous FOMC meeting has been conceived as...
The current overall trend for Natural Gas is bearish, as seen from the monthly chart. The commodity has possibly just completed the 5th wave of the Elliot Impulse Wave, this means that the next movement is possibly a correction. There is also a divergence as seen in the price action and the RSI Indicator which signals the trend weakening. However, the RSI could...
Poorer-than-expected business activity surveys are weighing on the market outlook for the US, and with it, the USD has stalled its climb against its major trading partners.
Fears about growing prices and the possibility of recession caused the dollar index to lose ground last week. On its way down, the DXY danced on the 106.50 level from above. While the index...
All eyes will be set on the earnings of tech heavyweights including Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) this week.
Apple is scheduled to publish its fiscal third-quarter results on Thursday and while the company had decided to forgo issuing a revenue guidance citing “the continued uncertainty around the world in the near term,”...
After the price of gold dropped for five consecutive weeks, its price has recently recovered as the US dollar weakened and Treasury yields fell to a 2-month low. With the weakening of the US dollar, should one consider going long for gold?
With the July FOMC meeting coming this week, the Us Federal Reserve is expected to raise its interest rate by 75 basis...
The USDCHF pair has been swinging from bullish to bearish from a weekly perspective on this pair.
It has established strong resistances at 1.00571 to 1.00148, forming a double top as it tried to break these levels. The double top rejection resulted in the USDCHF pushing back down and bouncing off 0.94907. This price level corresponds to the 200 MA and the 0.5...
Canada's inflation rate rose by 0.7% in June to a 39-year high of 8.1%. After its July meeting, the Bank of Canada raised rates by 100 basis points and is expected to tighten its monetary policy even further.
BOC's aggressive monetary policy may be a positive sign for the USDCAD to move further to the downside, building upon the recent pullback. Last Monday,...
Pinterest’s (NYSE:PINS) shares closed up 16.2% on Friday on the New York Stock Exchange after the Wall Street Journal reported after market hours on Thursday that activist investor Elliott Investment Management has built a stake in the digital pinboard platform.
Top-level departures
The news came just two weeks after the company, which has been struggling...
It has been a volatile four months for GameStop’s (NYSE:GME) stock since the company announced its planned stock split on March 31.
Four-for-one split
On March 31, GameStop disclosed plans to carry out a stock split by boosting its share count to 1 billion from 300 million. A stock split does not necessarily increase a company’s market capitalization, but...
After the euro made a once in 20 years slide to parity with the US dollar, one might also ask: will the British pound be the next to cross parity with the American dollar?
The GBPUSD pair has been consistently in a downtrend since last year. Traders and investors are now on their watch as technical indicators may show signs of a possible move towards the parity...
Yesterday, JPMorgan Chase (NYSE: JPM) reported that the bank's second-quarter earnings fell as a result of adding $428 million in bad loan reserves.
With this view, JPMorgan has chosen to temporarily halt its share repurchases in order to meet regulatory capital requirements.
According to a statement from JPMorgan, the reserve rise was primarily to blame for...
Technical analysis, and in particular the Range identifier Indicator, suggests a possible continuation to the downside is on the cards for GBPUSD.
The Range Identifier is a technical tool that highlights price ranges of an asset. Technical analysts will commonly use this indicator to determine price breakouts. Similar to the Darvas Box indicator, the Range...
The US dollar/ Thai baht (USDTHB) has been rallying to the bullish side. Hawkish Fed policy has remained the key source of dollar strength, but one may still wonder if the trend will continue or if it is already oversold and is bound for correction.
A unique indicator used to identify if a trend is oversold or overbought is the DeMarker indicator. The DeMarker,...
Australia’s main share index, the ASX 200, closed lower on Wednesday by 0.5%. This fall could have been a lot worse If not for technology and financial stocks mitigating the rout in other major Australian sectors.
Australian Securities Exchange’s Metals & Mining Index fell by a massive 5.6%. Heavyweights in the mining sectors, Rio Tinto (ASX: RIO), Newcrest...
Sugar is used in food, beverage, and in biofuel production, and its importance in global trade gives it a strong position in the commodity futures market. The price of sugar has surged 17% since the beginning of January 2021.
Reduced Brazil production
Sugar prices have recently been affected by production levels in Brazil, a key sugarcane producer and...
