FTSE Breaks Out To Record Highs On Shifting UK Outlook
FTSE Shrugs Off BOE Rate HikeDespite the Bank of England recently hiking UK rates to their highest level in 14 years, the FTSE has today hit a new all-time high. The index had been higher on the back of the BOE meeting as traders focused on the expected, forthcoming end of the BOE’s tightening program. […]
GBP/USD breaks to the upside, eyes 1.2050s
Share: GBP/USD rallies in the New York session ahead of Fed Powell. GBP/USD is the back side of the trendline resistance which is now expected to act as a counter-trendline with a focus on the upside. There are prospects of a move towards the 1.2050s with the 1.1990s eyed as support. GBP/USD is […]
Intraday Analysis – USD breaks higher
USDJPY grinds supply zone The US dollar extended gains on the NFP momentum. On the daily chart, the 30-day SMA (131.10) has been acting as a tough resistance and its latest breach suggests that bearish sentiment has waned. A tentative break above 132.80 exposes the support-turned-resistance of 133.30 and potentially the daily […]
Dollar Extends Rally for a Few Key Breaks, S&P 500 Throttles its Descent
S&P 500, Meme Stocks, Dollar, USDJPY, Fed Funds Rate and RBA Decision Talking Points: The Market Perspective: USDJPY Bullish Above 132.00; EURUSD Bearish Below 108 Market-based rate forecasts have swelled to meet the Fed’s forecasts, lifting the Dollar to notable EURUSD and USDJPY breaks Risk trends were noticeably more restrictive Monday, but meme stock troubles […]
Waller breaks down a wall and other technical walls are also broken. What next in Forex?
Fed’s Waller was the last Fed official to speak before the blackout period for the Fed ahead of their interest rate decision. In his question and answer he broke down a wall that other Fed officials have been reluctant to do and it led to some added optimism in the US stock market to close […]
Dollar Breaks But S&P 500 Can’t Overcome 200-Day Average After CPI, Bank Earnings Ahead
S&P 500, Dollar, CPI, Yields and Earnings Talking Points: The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDCNH Bearish Below 7.0000 US inflation contracted slightly in December which pulled the year-over-year CPI down to 6.5 percent; but that wasn’t enough to drive the S&P 500 through its 200-day SMA With US bank earnings on […]
USDCAD Breaks Lower as Rate Forecasts Shift Out of Fed’s Favor
USDCAD, Crude Oil and Interest Rate Talking Points: The Market Perspective: USDCAD Bearish Below 1.3500 USDCAD’s violent reversal this past Friday amid US and Canadian employment data led to a clear break of trendlines support and the 100-day SMA With the midpoint of the August to October advance in view, follow through will need to […]
APPL Double Zigzag Breaks Fresh Lows!
The formation of a corrective trend for APPL stocks continues. This takes the form of a 3-wave zigzag of the cycle degree a-b-c. A complex correction b is currently under development, the structure of which hints at the primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg Ⓦ and the intervening zigzag wave Ⓧ look complete. […]
EUR/USD breaks above 1.0600 on USD sell-off after weak ISM
US Dollar under pressure across the board amid risk appetite and falling yields. US: A weak ISM Service sector report follows larger than expected increase in NFP. EUR/USD having best day in a month, still down for the week. The EUR/USD jumped above 1.0600 amid a sharp reversal of the US Dollar that tumbled across […]