GBP/USD Dives To New 2020 Low, More Losses Likely
Elliott Wave view in GBPJPY suggests that the decline from December 13, 2019 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from December 13, 2019 high, wave 1 ended at 141.14, and wave 2 bounce ended...
Dow Jones Outlook: Dow Returns to Red after Fed Action Failed to Calm Markets
The Dow Jones opened lower and hit limit down on Monday, erasing last Friday’s recovery as investors continue to sell after Fed measures failed to restore confidence. With all sectors being down, sentiment remains weak and risk shifted lower. The...
EUR/USD Quite Calm About the Rate So Far
On Monday morning, EUR/USD is slowly growing and trading close to 1.1130. The US Federal Reserve cuts the benchmark rate for the second time this month, down to 0%-0.25%. The meeting where the regulator made the rate decision was unscheduled...
Market Morning Briefing: Aussie Has Fallen And Could Test Interim Support Near 0.60
STOCKS The surprise move from the US Federal Reserve to cut rates by 100 bps from 1%-1.25% to 0%-0.25% and announce a quantitative easing program does not seem to have cheered the markets so far. The Dow Futures is trading...
CHI 50 Index Seems Held in a Beutral Structure as Buyers Resurface ahead of Low
China A50 index (Cash) looks undecided since the beginning of March after rebounding off the 12,528 level, following the aggressive drop from the 14,678 peak. Further supporting this view is the marginally lower recent drop to 12,521, where buyers resurfaced...
GER 30 Index Bounces from 4-Year Low; Bearish-to-Neutral in Short-Term
The German 30 stock index is heading into the weekend with massive losses for the second time in a row despite pushing efforts to recover from a four-year low of 8,817 reached on Friday. Somewhat encouraging is the fact that the...
WTI Holds Directionless Near-Term Mode But Risk Remains Shifted to the Downside
WTI oil price remains within this week’s range ($27.67/$36.58), established after early Monday’s crash, when oil prices collapsed to 4-year low on signs of price war between two key oil producers – Saudi Arabia and Russia. Traders showed strong indecision...
AUD/USD Outlook: Bears Take A Breather After RBA’s Intervention But Risk Remains At The Downside
The Aussie is consolidating after nearly 3% fall on Thursday that pushed the price to new 11-year low (0.6211), in the biggest one-day fall since 6 Feb 2019. Easing of extreme risk aversion after the RBA intervened earlier today by...
EUR/USD Is Below 1.1200
On Thursday, the EUR/USD currency pair tested the support level formed by the weekly S1 at 1.1097. During today’s morning, the pair tested the resistance formed by the Fibo 23.60% and the weekly PP at 1.1220. Note that the exchange...
GBP/USD Declined To 1.2550
Yesterday, the GBP/USD exchange rate declined to the weekly S3 at 1.2531. During Friday morning, the rate reversed north. Note that the currency pair faced the resistance level formed by the weekly S2 and the monthly S1 at 1.2636. If...
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