EUR/USD Bullish Wave C Within Bearish ABC Pattern
EUR/USD is building a bearish pullback within the long-term uptrend. Price action is expected to build either an ABC or ABCDE triangle pattern (pink) on the daily chart. The EUR/USD seems to have completed a wave 3 (purple) at the...
Delay In Vaccine Roll – Out Can Turn Into Political Risk For The EU
Market movers today Today’s focus is the EMA meeting which is set to discuss (and approve) the AstraZeneca vaccine. This got another layer of interest as Germany has said that they will not use it for the 65y+ age group,...
High Volatility Continues in Markets, USD/JPY Upside Breakout
Markets continues to engage very volatile trading, with US stocks and treasury yield staged strong rebounds overnight. Though, the moves are not totally followed by Mixed Asian markets. As for currencies, weakness in Australian and Canadian Dollars appear to be...
Elliott Wave View: 5 Waves Rally In EURJPY Favors More Upside
Short Term Elliott Wave View in EURJPY suggests the decline to 125.07 low ended wave 2. Pair has started to turn higher in wave 3 as an impulsive structure. Rally from wave 2 low unfolded as 5 waves leading diagonal...
Reddit rebellion is ‘another epic parabolic bubble’ that will burst, investor Peter Boockvar warns
Investor Peter Boockvar is calling the Reddit rebellion “another epic parabolic bubble.” In a research note out this week, he warns the mania into trades from GameStop to American Airlines will ultimately go bust. “Let’s break down the investment strategy: Find...
The Economic Outlook: What Could Possibly Go Wrong? Part III
Part III: Supply Constraints Drive Inflation Higher Summary In the second report of our series on economic risks in the foreseeable future, we looked at how demand-side factors could potentially lead to significantly higher inflation in the United States in...
US 30 Index’s Pullback Contested by 38.2% Fibonacci
The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses...
U.S. economy closes out 2020 with lower than expected 4% gain
After a year in which a pandemic and politics posed challenges unlike the U.S. has seen in generations, the economy closed 2020 in fairly good shape. Gross domestic product, or the sum of all goods and services produced, increased at...
Jobless claims rise less than expected at 847,000 first-time applicants
A woman walks past a closed retail store for lease in the midtown area of Manhattan on January 25, 2021 in New York City. Angela Weiss | AFP | Getty Images The number of Americans who filed for unemployment benefits...
Euro Overtakes Dollar Investor Sentiment Stabilized, Near Term Support Defended
Overall, the financial markets are mixed as investor sentiment stabilized. European indices are already reversing initial losses while US futures point to higher open. Commodity currencies are staying generally weak. But buying focus is turning away from Dollar and Yen,...