AUDUSD failed to break above 0.7962 resistance and pulled back to 0.7880 area. However, the fall would possibly be a correction of the uptrend from 0.7807 and another rise towards 0.8065 could be expected after the correction. Support levels are at 0.7870 and 0.7807, only break below these levels could trigger another fall towards 0.7700....
Calm summer markets and a “presidential” statement from Trump on Afghanistan allowed USD/JPY to rise. Without any issues, there is less demand for the safe-haven yen. This was enough to send USD/JPY from the lows of 108.60 to 109.80. And then Trump returned to his own self. In a campaign-style speech in Phoenix, the President threatened to shut down the government if Congress doesn’t fund the wall that Trump wants to build on the Mexican border. Last year, Trump said that Mexico will fund the wall. In addition, Trump blamed Democrats for not funding the wall even though Republicans control the government. The wall seemed to be off the ...
As the market rally shows, stocks still want to move higher. If it weren’t for North Korea and domestic politics, then no one would even be worried about the “fear gauge”. Instead, we’d be talking about the fantastic earnings season we just had, or the improving jobs picture, or the Fed taking its sweet time in raising rates. If you can keep your head while all your fellow investors are losing theirs, then there is still plenty of money to be made. Today’s article has three stocks that were beating the market when stocks were soaring, and should continue to do so regardless of which way the tides take us next. Ultra Clean Holdin...
After opening the day in green, share markets in India have continued the momentum and are trading above the dotted line. Except stocks in the consumer durables sector, all sectoral indices are trading in green, with stocks in the realty sector and stocks in the PSU sector leading the gains. The BSE Sensex is trading up by 150 points (up 0.5%), and the NSE Nifty is trading up by 38 points (up 0.4%). Meanwhile, the BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 0.8% The rupee is trading at 64.13 to the US$. In news from the IPO space, the Rs 1.5 billion IPO of Apex Frozen Foods got sub...
There’s an old stock market saying; “put 10% of your wealth into gold and hope it goes down”. This saying underlines the well-known fact that when gold rises in value it indicates that other assets are performing terribly and fear is gripping the market.If we look at recent events, especially the ongoing word battle between North Korea and a certain blond haired POTUS, we see gold rise on the back of genuine fear of conflict. However, despite this latest episode of hair pulling which was regarded as the closest threat of war between North Korea and the US since 1994, this spike in gold, although adequate, wasn’t mouthwatering.Inste...
WTI Crude Oil The WTI Crude Oil market had a volatile session on Tuesday, as we continue to bang around the $40 level. With the Crude Oil Inventories announcement coming out today, I think we will see more volatility and perhaps even a move in one direction or the other. If we break higher, I think that the $50 level will offer a bit of a ceiling though, unless of course the inventory number is much more bullish than anticipated. Currently, it’s expected to be a loss of roughly 4 million barrels. If we break down below the $46.50 level, the market should then go looking for the $45 handle, and then eventually $42.50 from what I can see. I s...
Yesterday’s signals were not technically triggered as the bullish price action occurred between the key levels, however, any long trade taken from the bounce there would be doing well. It could be worth taking more partial profit at about 1.2600. Today’s USD/CAD Signals Risk 0.75% per trade. Trades may only be taken from 8am London time until 5pm New York time today. Long Trade 1 Go long after the next bullish price action rejection following a first touch of the zone between 1.2541 and 1.2522. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Take off 50% of the po...
Germany’s manufacturing sector is firing on all engines, at least according to the manufacturing PMI. It jumped to 59.4 points, much better than projected. The services PMI also came out above expectations, but only just: 53.4 points. EUR/USD is moving up, trading at 1.1770 after reaching a high of 1.1777. The pair trades in a very narrow range today, and the news sent it towards the top of this 30-pip range. Markit’s German manufacturing PMI was expected to slip from 58.1 to 57.7 points in August. Services PMI carried expectations for a tick up from 53.1 to 53.3. Any score above 50 represents expansion. EUR/USD was trading very steadily ...
AT40 = 35.8% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 46.9% of stocks are trading above their respective 200DMAsVIX = 11.4 (14.0% decrease)Short-term Trading Call: neutral Commentary Since last Thursday when I lasted posted Above the 40, AT40 (T2108), the percentage of stocks trading above their respective 40-day moving averages (DMAs), increased 4 percentage points. AT200 (T2107), the percentage of stocks trading above their respective 200DMAs, is flat since then. T2107 takes some of the shine off the rebound from Thursday’s low that today sent the S&P 500 (SPY) closing above its 50DMA. The ...
After opening the day higher, stock markets in India have continued their momentum. Sectoral indices are trading on a positive note with stocks in the realty sector and telecom sector witnessing maximum buying interest. The BSE Sensex is trading up 148 points (up 0.5%) and the NSE Nifty is trading up 37 points (up 0.4%). The BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 1%. The rupee is trading at 64.12 to the US$. As per an article in the Economic Times, BSE will be compulsorily delisting 200 companies with effect from today. It would also bar the promoters of these companies from acce...