Elliott Wave Analysis: Dax Can Retest 15k Psychological Support Level
DAX is coming down as expected, after five sub waves up within wave 5, with the current price breaking the trendline support so we see a new corrective set-back which can be wave 4 now at former wave four support...
GBPJPY Tries To Repower Positive Bearing
GBPJPY has dipped below the 50-day simple moving average (SMA) and into the Ichimoku cloud but is struggling to break below the 149.50 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 136.95 until 153.40....
GBPUSD Gains Positive Traction Near 200-SMA, Upside Move Fragile
GBPUSD returned most of its weekly wins, but the bullish breakout above the descending channel remains valid, with the pair currently pushing for a rebound near the 200-period simple moving average (SMA) on the four-hour chart. The recent golden cross...
EURUSD Awaiting PMI Data
The euro currency has fallen back towards the 1.2000 level against the US dollar, as traders remain anxious ahead of preliminary EU PMI data. A bearish head and shoulders pattern is a warning of a coming 65 point price drop...
Yen Firm in Quiet Markets, Bitcoin Free Fall
While US stocks tumbled overnight, Asian markets are just mixed. Gold and oil are stuck in range too, while the bigger move is found in bitcoin. The forex markets are also generally staying in tight range. Yen is currently the...
Stock futures tick higher after concerns over capital gain tax hike prompt selling
Futures contracts tied to the major U.S. stock indexes ticked higher at the start of the overnight session as investors prepared to end a down week for equities amid concerns the White House could seek a hike to the capital...
Shortage of semiconductors, dubbed the ‘new oil,’ could dent GDP growth, boost inflation
China laid out seven “frontier” technologies in its 14th Five Year Plan. These are areas that China will focus research on and include semiconductors and brain-computer fusion. Yuichiro Chino | Moment | Getty Images Economic growth could slow and inflation...
Existing home sales suffer second straight monthly decline as tight supply pushes prices higher
Closed sales of existing homes fell 3.7% in March to a seasonally adjusted annualized rate of 6.01 million units, according to the National Association of Realtors. That is the slowest sales pace since August and the second straight month of...
The labor market is heating up as fewer people seek unemployment benefits
In an aerial view, workers with the San Francisco Department of Public Works repave a section of 24th Avenue on April 08, 2021 in San Francisco, California. Justin Sullivan | Getty Images Weekly unemployment claims fell to a new pandemic-era...
A Panoramic View of the US Economy and Dollar in 10 Charts
The pandemic inflicted a lot of damage on the US economy, but thankfully, the worst has passed. It turns out that when Congress and the Federal Reserve join forces to fight a crisis, the stimulus response is so overwhelming that...
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