EUR/USD and NZD/USD Elliott Wave Analysis: Be Aware of More Weakness
While USD is extending its rally, we can see EURUSD even lower, but still trading in the middle of wave 3, so be aware of more downside pressure in upcoming days, just watch out for a intraday pullback. EUR/USD 4h...
GBPJPY Chases Soft Gains; Short-Term Outlook Somewhat Gloomy
GBPJPY found strong footing around its longer-term 50- and 200-day simple moving averages (SMAs) this week, but the price could only gradually strengthen to 154.80 since then, unable to recoup January’s losses. While the 50- and 200-day SMAs have escaped...
US 30 Index Remains Negative in Short-Term; SMAs Post Bearish Cross
The US 30 (Cash) index rebounded off the seven-month low of 33,145, gaining some momentum, but the short-term simple moving averages (SMAs) posted a bearish crossover. The RSI indicator is flattening near the oversold zone, while the MACD oscillator is...
SPX 500 Struggles for Support
Upcoming US rate hike still weighs on equity markets. A tentative break below last October’s low (4300) has put the S&P 500 on the defense. A bearish MA cross on the daily chart shows that sentiment could be deteriorating as...
US Oil Breaks to New High
Oil climbed amid fears of disruption as tensions between Russia and the West grew. After a short-lived pause, WTI crude saw bids near a previous low at 82.00 which lies on the 20-day moving average. A break above the January...
Stock futures rise as market set to wrap up a wild week, Apple shares pop
Stock futures rose early Friday, boosted by a jump in Apple shares, as Wall Street looks to wrap up a roller-coaster week on a high note. Futures on the Dow Jones Industrial Average gained about 162 points, or 0.48%. S&P...
Dollar Staying Strong, Sterling Trying to Catch Up
Dollar remains overwhelmingly the strongest one for the week, as boosted by intensified Fed hike expectations. Sterling is trying to catch and trading as the next stronger, with special help from buying against Euro. Australian and New Zealand Dollar are...
GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spread
The U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts in inventories and consumer spending, and despite signs that the acceleration likely tailed off toward the end of the year. Gross domestic product, the sum...
RBA Meeting: Managing Rate Hike Expectations
The Reserve Bank of Australia announces its first policy decision of the year on Tuesday at 3:30 GMT. The last time the Bank’s governor, Philip Lowe, spoke in mid-December, he told investors he didn’t think conditions for a rate hike...
Dollar Extends Strong Rally after GDP, Euro Downside Breakout
Dollar’s strong post-FOMC rally is given another boost in early US session by much better than expected Q4 GDP data. Latest jobless claims figures also suggest stabilization from the impact of Omicron. But for now, the strength is mainly centered...