Elliott Wave View: Gold Rallies Higher After 3 Waves Pullback
Short Term Elliott Wave View in Gold suggests the decline from March 08, 2022 high completed 3 waves down as a zig zag Elliott Wave structure. Down from March 08 wave ((1)) high, wave A ended at 1970.30 and rally...
EUR/USD Pressing Resistance, Yen Continues as Biggest Loser after BoJ
Yen remains the weakest one for the week, following the extended rebound in US stocks overnight, and persistent strength in treasury yields. Swiss Franc and Dollar are also soft as distant second and third. Meanwhile, Euro is currently the best...
Sterling Dips after Dovish BoE Hike, Euro Mixed
Sterling dips notably after the dovish rate hike by BoE. Yen is following as second worst for the day, then Dollar. On the other hand, Aussie is leading other commodity currencies higher, support by strong job data. Euro is mixed...
WTI Oil Futures Set a Floor, But is it Stable?
WTI oil futures (April delivery) started the day on a positive note on Thursday after two weeks of harsh selling. The positive momentum in the price is following the formation of a bullish doji around 95.32, which seems to have set the...
Dollar Retreats as Fed Hikes for the First Time Since 2018
American stocks rose on Wednesday after signs emerged that Russia and Ukraine were making progress. According to the Financial Times, the two sides have made progress on a tentative 15-point peace plan that includes an immediate ceasefire and withdrawal of...
Yen Extends Decline as Markets Responded Well to Fed Hike, BoE Next
The financial markets have responded rather well to Fed’s rate hike overnight. The close in major US indexes was strong while Asian stocks also follow higher. Yen is clearly pressured and is extending recent decline, following rally in benchmark treasury...
Canadian Dollar Surges on Strong CPI, FOMC Next
Canadian Dollar surges broadly in early US session after stronger than expected consumer inflation reading, which solidifies the case for more tightening from BoC. Though, as for today, Aussie is still the strongest, as helped by the massive rebound in...
JP225 Index’s Bias Improves But Outlook Remains Bearish
The JP 225 index continues its downtrend move, recording successive lower lows and lower highs as negative momentum lingers. Moreover, the index is currently trading well below its 50- and 200-day simple moving averages (SMAs), reinforcing the overall bearish outlook....
China says it will support Chinese IPOs abroad, calls for closure on tech crackdown
China signaled support for Chinese stocks on Wednesday, after days of worries about U.S. delisting risks had sent the stocks plunging in New York and Hong Kong.
Dollar Consolidates as Markets Await FOMC Rate Hike and Projections
Dollar is digesting some of this week’s gain as markets are awaiting FOMC rate hike and economic projections. There are a lot questions to be answered given the uncertainty over inflation and the economic impact of Russia invasion of Ukraine....