Arguably the most important conclusion that can be drawn from the recently finished earnings season in the States is that Big Tech and other companies in the technological sector have had an overall robust first quarter. Despite the ongoing coronavirus crisis, which has affected so many other industries, the tech sector remains not only relatively unscathed by the economic fallout, but it even manages to continue growing. [...]
A bullish reversal on the EURUSD appears to be completed now because of the recent woes for the greenback. With the changing market sentiment on the pair, bulls can now look for a chance to utilise trend continuation strategies on the newly emerging uptrend.
Two leading factors are causing the dollar to tumble in the short term. Amazon's disappointing earnings numbers for the second quarter have prompted [...]
The price of the commodity appears to be consolidating near the bottom portion of a recent correction before the broader uptrend can be continued. Even though this represents a preliminary stage in the establishment of an eventual uptrend, bulls should not rush to join the market at all costs.
Presently, all eyes are focused on the earnings season in the U.S. The robust performance by Big Tech, especially [...]
The price of the cryptocurrency temporarily fell below the psychologically significant 30000.0 mark this week before returning back above this major threshold. Part of the reason why the crypto advanced had to do with Elon Musk's recent comments concerning Tesla and SpaceX, saying that both companies use Bitcoin.
Musk also stated that Tesla would likely increase its holdings of Bitcoin, provided that the [...]
The GBPUSD is currently finding itself in a very strong downtrend whose development we have followed over the last couple of months. Part of the reason for the strengthening of the U.S. dollar has to do with the fact that the market has already priced in FED's inflationary policy.
The greenback is also likely to be bolstered this week with the beginning of the new earnings season in the U.S. That is so [...]
The price of crude oil has been depreciating over the past few weeks as global energy demand subsided a little bit. This process was bolstered following the last FED meeting.
Even though the current underlying sentiment is prevailingly bearish, it is unlikely for crude oil to develop a major bearish trend. Instead, the price of the commodity is likely to consolidate around the next Fibonacci support [...]
The Nasdaq Composite index has advanced considerably over the past few weeks, even though the underlying sentiment is not ostensibly trending. This is caused by mounting adverse volatility in the market. These erratic fluctuations could prompt a broader bearish correction in the near future.
Selling pressure continued to accumulate yesterday following Jerome Powell's, Chair of the Federal Reserve [...]
Temporary bullish momentum on the EURUSD was reinvigorated last week following the adoption of a new inflation goal by the European Central Bank. Nevertheless, the broader sentiment still looks tilted in favour of the greenback, as the U.S. economy continues to recover robustly.
This setup entails a likely continuation of the current pullback towards the next psychologically significant barrier [...]
The price of gold has been consolidating over the past few weeks after having established a major bearish dropdown. This interim consolidation now seems to imply that the correction has already bottomed out, which, if true, would mean that bulls can once again trade on the expectations for the continuation of the broader uptrend.
These expectations for sustained price appreciation are rooted in the fact [...]
Bearish sentiment continues to rise on the GBPUSD as the dollar strengthens, though there appears to be a minor bullish pullback currently in the making. This temporary break in GBPUSD's downtrend would allow bears to utilise trend continuation strategies and catch the next reversal.
On the one hand, the pound remains under pressure as the pandemic situation in the UK remains tight. This is owing to a [...]
The price of Bitcoin has been recuperating since last week, after having fallen temporarily below the psychologically significant support level at 30000.0. Counterintuitively, perhaps, part of the reason for the strengthening of the cryptocurrency has been the latest clampdown on crypto exchanges by a financial regulatory. [...]
The price of crude oil has been advancing in a very strong uptrend over the past couple of weeks. The rally was influenced by robust energy demand globally as economies continue to reopen and economic activity picks up. This pick-up in aggregate activity continues to be dependent on the vaccine rollout and future progression of the pandemic. [...]
The price of the EURUSD looks ready to continue plunging once the temporary bullish pullback is completed. A new downtrend started emerging recently, following the highly pivotal FED meeting for June. The Federal Reserve adopted a distinctly more hawkish policy stance, which reinvigorated the struggling dollar. [...]
Nasdaq's luck seems to be running out as the stock market becomes increasingly more bearish-looking. This could mark the beginning of a new sizable downtrend.
The impact of market seasonality is already playing a pivotal role in diminishing the overall liquidity in the market as the general trading activity falters. Meanwhile, paradoxically as it may seem, improving economic outlook could derail [...]
The price of gold has been depreciating over the last couple of weeks after having reached a psychological barrier. The downturn was catalysed by mixed labour data in the U.S. and growing energy demand globally.
The correction is momentarily halted by increased bullish momentum in the short term. The latter is owing to relaxed inflation fears among traders and investors, ahead of the highly anticipated [...]
The German DAX index is currently trading at around 15700.00 basis points, which represents its all-time high. The underlying rally was fuelled by solid industry numbers in Germany for the month of May, which inspired investors to believe that the digitalisation process of the Eurozone economy is going according to plan. [...]
The energy market has benefited greatly by heightened demand amidst accelerating global recovery. This has prompted a massive bullish rally on the price of crude oil, which reached the psychologically significant resistance level at 70.00.
Nevertheless, the latter represents a prominent turning point, which is why the emergence of a new bearish correction from it in the short term seems highly plausible. [...]
A bearish reversal on the cable has been expected for quite a while now, and economic data from this week may finally catalyse such a drop. The release of the latest consumer price data in the U.S. on Thursday is projected to underpin a sizable decrease in inflation on a monthly basis, which would be inlined with FED's medium-term projections. [...]
The EURUSD has been climbing for the past several weeks, and there still seems to be spare bullish capacity for more gains remaining. The pair is nearing a major resistance level of historic importance that could turn out to be a major turning point. This is similar to what is currently being observed on the GBPUSD. [...]
The price of Gold is headed towards a multi-month high as demand ramps up in the short term. Traders and investors are sizing up the impact of inflation growth on the pace of U.S. recovery, which is already being reflected in the commodities market.
All eyes are currently focused on the upcoming non-farm payrolls data, which is likely to bolster these inflation pressures. In particular, a potentially robust [...]
The Nasdaq composite has been threading in a minor range below the psychologically significant resistance level at 14000.00 since the beginning of May, as underlying volatility in the stocks market gradually subsided.
Instead, more prevalence was given to the commodities market, as a new supercycle is currently in the making and the even more volatile crypto market. This transformational change came just as [...]