EURJPY Hits 4-Month Low, Pivot Area Could Be Nearby
EURJPY raised the odds for a bearish trend reversal following the drop below the long-term ascending trendline and the Ichimoku cloud, with the 20- and 50-day simple moving averages (SMAs) further enhancing the bearish case after their recent intersection. The...
GBP/USD At The Critical Support
The GBP/USD is at critical support. Historical buyers are exactly in the zone 1.3565-1.3623. We should see a continuation to the upside if the price gets a bullish momentum. 1.3600-50 is the POC. Multiple swing points could switch momentum to...
Elliott Wave View: SPX Correcting Larger Degree Cycle
Since forming the bottom on March 2020 low, S&P 500 ($SPX) has started a new bullish cycle which brings the Index to all-time high. The entire rally from March 2020 low can be counted as 3 waves so far. Up...
Markets Stabilized after Massive Risk-Off, Yen Remains Firm
Overall market sentiments stabilized in Asia, after the massive risk-off trades in the US overnight. While Asia indexes are still down, losses are limited. Yen and Swiss franc are paring some gains but remain the overwhelmingly strongest ones. Commodity currencies...
These stocks are already in a bear market amid Monday’s market sell-off
Jorge Sanz | LightRocket | Getty Images Jitters around the delta variant of Covid hindering the economic comeback sparked a steep sell-off Monday on Wall Street, pushing a number of stocks into bear market territory already. The Dow Jones Industrial...
It’s official: The Covid recession lasted just two months, the shortest in U.S. history
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters The Covid-19 recession is in the books as one of the deepest —...
Yen Jumps as Risk Appetite Slides
The Japanese yen has posted considerable gains in Monday trade. In the North American session, USD/JPY is trading at 109.50, down 0.47% on the day. Earlier in the day, the pair dropped as low as 109.05, its lowest level since...
WTI Oil Outlook: Oil Price Slumps after OPEC+ Agreed to Increase Production
WTI oil price collapsed on Monday after OPEC+ group eventually reached an agreement to boost output from August and cool oil prices that rose to the highest levels in nearly seven years. Strong bearish acceleration (the contract is on track...
Has the Canadian Dollar Already Reached its Peak for the Year?
The Insights In our view, yes. Recent developments suggest the six-year high of 83 US cents the loonie hit in early June was a high-water mark for 2021. The Bank of Canada was looking more hawkish than other central banks...
Yen Accelerates Higher as Risk Aversion Intensifies
Yen and Swiss Franc dominates the markets for the day, as selloff in stocks spread from Asia to Europe, to US. Risk aversion intensified with DOW down over -800 pts in initial trading, while 10-year yield breaks1.2 handle. Canadian Dollar...
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