The Italian Prime Minister Mario Draghi wanted to resign yesterday, after the Five Star party, which is the second biggest party in Draghi’s coalition government, boycotted a confidence vote in the senate; they didn’t quite Read more…
I only have some egg dripping from my face this morning, instead of a full dozen including shells. My view that the price action post the US inflation numbers across asset classes suggested an albeit Read more…
EUR/USD Today’s trading session for the single European currency got off to a shaky start as the euro continues to trade near parity with the greenback. The one to one ratio with the dollar, however, Read more…
The Dow Jones, Nasdaq 100, and S&P 500 indices declined after weak bank earnings. JP Morgan, the biggest American bank, saw its earnings decline by more than 20% after it added provisions for credit losses. Read more…
The Nasdaq 100 consolidates as investors assess second-quarter earnings. The index came to a halt at 12200 and a bearish RSI divergence showed a loss of momentum in that key supply zone. A drop below Read more…
The Australian dollar found some support after the unemployment rate dropped to 3.5% in June. The RSI’s oversold situation caused a brief rebound but the price action remains under pressure after it failed to hold Read more…
The US dollar bounces higher fuelled by expectations of a supersized rate hike after record high inflation. A short-lived pullback has met solid buying interest over 0.9750. A pop back above the recent high at Read more…
The current structure of the AUDUSD pair suggests the formation of a zigzag a-b-c, which currently includes a bearish correction b. Wave b consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The last section of the chart shows Read more…
Daily Pivots: (S1) 1.2981; (P) 1.3102; (R1) 1.3238; More… Intraday bias in USD/CAD remains on the upside at this point. Current up trend should target 100% projection of 1.2005 to 1.2947 from 1.2401 at 1.3343. Read more…
Daily Pivots: (S1) 0.6691; (P) 0.6739; (R1) 0.6797; More… Further decline is expected in AUD/USD with 0.6873 resistance intact. Current down trend from 0.8006 should target next fibonacci level at 0.6461. On the upside, break Read more…