Elliott Wave Analysis: USDJPY Trading into Possible Resistance and Reversal Zone at 113.0 – 113.35
As expected, USDJPY made a Monday rally for wave c) that can stop around 50% – 61,8% Fibo. retracement and between 113.0 – 113.35 resistance area. Monday rallies are usually fake movements, so we would not be surprised if we...
Japanese Yen Dips on as GDP Shrinks
The Japanese yen is down slightly in the Monday session. In North American trade, USD/JPY is trading at 113.00, up 0.26% on the day. On the release front, Japan’s current account surplus dropped sharply to JPY 1.21 trillion, down from...
ECB group asks legislators for more time on Ester
An alternative to Euribor, should a revamp of the benchmark to make it compliant with European regulation not be successful, can’t be done on time, according to recently published minutes from a working group formed by the European Central Bank....
Job openings back over 7 million and near a record high
There were 1 million more jobs than unemployed workers in the most recent government count of job openings, according to a Labor Department release Monday. Total available jobs stood at 7.08 million for October, the second-highest level surpassed only by...
Canadian Housing Starts Rose to 216k in November
Highlights: Year-over-year Housing starts rose to 216k in November. The 6-month trend rate inched up to 210k — the first increase in five months. In separately-released data, new building permit issuance increased to 240k. That is well above the recent...
IPOs: Squaring the circle
The story of small business lender Funding Circle’s IPO in October was in some ways a surprise – and in other ways entirely predictable. When the IPO was launched at the beginning of September there was feverish speculation that the...
Squaring the circle
The story of small business lender Funding Circle’s IPO in October was in some ways a surprise – and in other ways entirely predictable. When the IPO was launched at the beginning of September there was feverish speculation that the...
Pound Tumbles as UK PM May Will Call off Brexit Parliamentary Vote, Abruptly
Pound is at the center of focus today as it finally shows some commitment on the downside. The trigger of the selloff is report that UK Prime Minister Theresa May is going to call off tomorrow’s Brexit parliamentary vote. Weak...
EUR/USD – Euro Gains Ground As German Trade Surplus Beats Estimate
EUR/USD has started the week with gains. In the Monday session, the pair is trading at 1.1418, up 0.34% on the day. There are no major releases out of the eurozone or the United States. Germany’s trade surplus fell to...
EUR/USD Outlook: Bulls Face Headwinds At Daily Cloud Base, Cluster Of Converged MA’s Underpins And Expected To Contain consolidation
The Euro stands at the front foot on Monday and cracked strong barriers at 1.1435/44 (falling 55SMA / base of falling thick daily cloud / Fibo 38.2% of 1.1815/1.1215 descend). Fresh bulls emerged after Monday’s gap-lower opening and filled the...
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