The USD/ZAR rallied with eagerness after it went down to a significant demand area at 16.20000. Now, the price has entered a short period of consolidation, as traders anticipate this Friday’s speech by the US Federal Reserve Chair Jerome Powell.
The technical chart on the USD/ZAR daily timeframe suggests that a strong supply zone is currently present between...
Bulls could see the potential for new upside on the Gold market, as the market finds near-term support at above the $1,720 mark, this indeed following a multi-bottom support confirmation at $1,680 per oz. Has the correction been completed? A recent retest of a daily trend line from the year high to low could possibly show buyers about to seek further ground back...
After the EURUSD reached and broke below parity, an analysis of the situation is in order.
Last week, the euro failed to close above 1.0320 and the 50-Day Moving Average, presenting a potential bull trap and setting up the opportunity for short sellers, as illustrated by the orange circle.
Although the pair broke below the parity on August 22, a decent...
What is the short interest in consumer electronics retailer Best Buy (NYSE: BBY) ahead of its second-quarter financial results on August 30?
On the last trading day, Best Buy had roughly 12 million shares in short interest, reflecting 5.97% of its outstanding shares. By midday Aug. 19, 5.5 million Best Buy shares are available to be shorted, according to...
Technical analysis of movements of the USD/JPY on the daily and 4 hourly timeframes. BlackBull Markets analyses the RSI and Stochastic RSI, which are indicators that can show many features of chart movement.
Disclaimer: Trading is Risky. T&C's apply.
Education: All videos on this channel are provided for educational purposes only. The content contained in every...
Beginning mid-July, the USD/JPY began its downward trajectory, dropping to 130.39, a strong support level, after creating a high of 139.38. After which, some choppy price action in the first half of August has heavily disguised trader sentiment and a clear direction in the pair.
Now the choppiness may be clearing. The USD/JPY recovered some ground last week,...
Beginning mid-July, the USD/JPY began its downward trajectory, dropping to 130.39, a strong support level, after creating a high of 139.38. After which, some choppy price action in the first half of August has heavily disguised trader sentiment and a clear direction in the pair.
Now the choppiness may be clearing. The USD/JPY recovered some ground last week,...
Silver is down 7% over the past 5 days, we're at a pivotal point of support and breaking out of the channel may indicate a trend reversal. What do you think is next in store for this precious commodity?!
Canada may now be over the peak inflation hump. The Canadian Inflation Rate has dipped to 7.6% in July from 8.1% in June.
The main culprit for the fall in inflation is the decline in gas prices, which has helped negate food prices, which continue to rise (up by 10% from a year ago).
The Bank of Canada (BOC) is evaluating this latest inflation reading as it...
From relative obscurity, buy-now-pay-later (BNPL) services have become instant superstars. As consumer preference shifts from credit cards to interest-free instalments, the market for BNPL providers also grows, attracting regulations that may curb their capabilities and the fast rate at which the sector is expanding.
It wasn't until 2015 that BNPL caught...
As announced 2pm NZT, the Reserve Bank of New Zealand had a 50 basis-point rate hike. This has caused a rally in the NZD. See our technical analysis on RSI and expected resistance levels.
As announced 2pm NZT, the Reserve Bank of New Zealand had a 50 basis-point rate hike. This has caused a rally in the NZD. See our technical analysis on RSI and expected resistance levels.
The NZD/USD has been on a bullish trend against the US dollar since August 14, 2022. Unfortunately, the pair could not reach the 0.6500 key area, before staging a two-day reversal starting on August 15. Last week's high topped out at around 0.6470.
The drop in US Treasury yields was one factor that caused this uptrend in the NZD/USD, as investors worried about...
This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.
In addition to BHP’s results, the miner announced an AU $8.4...
This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.
In addition to BHP’s results, the miner announced an AU $8.4...
Here we demonstrate the basic identification of a cup and handle that may be forming on a Nasdaq 100 index. See how the chart analysis is positioned over the second half of the month of August.
The EUR/GBP pair seems to be making another run towards the upper resistance of the descending channel.
It has already visited this upper channel boundary 4 times since June 15, 2022. Perhaps it will visit 0.8503, in confluence with the 50-day moving average before continuing its way south. Although the Supertrend Indicator may suggest that the pair doesn’t have...
Great Britian’s GDP Growth Rate data for June 2022 is released in a few hours' time.
The British economy expanded 0.5% MoM in May, unexpectedly beating forecasts for a neutral month of growth. May’s reading stood in stark contrast in April’s –0.2%, March’s +0.1%, and February's 0.0% readings.
The market forecast for June has the data returning to negative...
