Amazon Stock Struggles Below 200-Day SMA In Near Term
Amazon stock price rebounded after touching a seven-month low on November 20, however it still trades below the 200-day simple moving average (SMA). Having a look at the momentum indicators, they are giving mixed signals. On the one hand the...
USD/JPY Outlook: Thursday’s Hammer Suggest Pullback Might Be Over, G20 Summit Would Provide Stronger Direction Signal
Firmer tone on Friday increases hopes of recovery as Thursday’s strong downside rejection left hammer candle, signaling that two-day pullback might be over. Dip was contained by 10SMA (113.15) and subsequent bounce resulted in daily close above 20SMA (113.38) on...
Elliott Wave Analysis: EURUSD Update
EURUSD has turned nicely higher recently from the 1.127 level which was quite expected as we were tracking a minor pullback labelled as wave 2. Current rally we now labelled as start of a new, five-wave cycle which can unfold...
GBP/USD Outlook: Directionless Mode After Brexit/Fed Eyes G20 Meeting For Fresh Signals
Cable trades in narrow-range directionless mode on Friday and holding within larger range which extends into third straight week and on track to end the third week in Doji candle. Quiet mode comes after bumpy ride in past three days,...
Elliott Wave Analysis: S&P500 and 10 Year US Notes
S&P500 made an impulsive rally yesterday due to a Powell’s speech, so seems like it’s heading higher within wave C/3, which should be made by five sub-waves, where we see room towards 2750-2770. But, we should be careful at this...
AUDCAD Hits 4-month High; Medium-Term Structure Tilts Bullish
AUDCAD staged a strong rebound after falling to 0.9104 in early October, this being its lowest since July 2010. Earlier on Thursday, it touched a four-month high of 0.9748. The positively aligned Tenkan and Kijun-sen lines, as well as the...
GBP/USD Outlook: Positive Impact From Dovish Powell Fades As Pound Falls On Latest PM May’s Comments
Cable was sharply lower on comments from UK PM May who confirmed that the deal with EU is the final one and the UK is leaving the union in March, as scheduled. May also pointed to comments on the second...
NZDUSD Hovers Near 5-Month Peak, Has More Room To Run
NZDUSD advanced strongly yesterday, driving the market towards a fresh five-month high around 0.6885. Currently, the pair holds slightly below this peak, but the 20- and 40-simple moving averages are confirming the upside momentum as they recorded a bullish crossover...
USDCAD Bullish at 5-Month Peak, Eyes Highest Since Mid-2017
USDCAD touched a fresh five-month high of 1.3358 on Wednesday, trading not far below its firmest since June 2017 of 1.3385 hit in late June of the current year. The Tenkan- and Kijun-sen lines are positively aligned on the daily...
WTI Oil Outlook: Bears Regaining Control after Recovery Stalled; OPEC Meeting Next Week Key
WTI oil holds in red on Wednesday and dipped below $51 handle, retracing over 61.8% of two-day $50.09/$52.53 recovery and signaling that corrective phase might be over. Oil bears took a breather after falling over 6% last Friday, helped by...
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