Eliot
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WTI loses traction below $82.50, concerns over Middle East fade
WTI edges lower to $82.45 on Thursday as the fear of wider war in the Middle East eased. Higher bets that the US Fed will delay rate cuts support the Greenback. US commercial crude stockpiles last week fell by 6.368 million barrels, the largest drawdown since mid-January. Western Texas Intermediate
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Forex Today: Improved risk appetite hurt the Dollar
Increasing appetite for the risk-linked space weighed further on the US Dollar, while disheartening US PMIs also kept the currency depressed. So far, the ECB is expected to cut rates in June, while the Fed is still seen reducing its rates in September. Here is what you need to know on Wednesday, Apr
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AU and JP Manufacturing PMIs nearly back to expansion – CN banks under US sanctions threat
Asia market update: AU & JP Mfg PMIs nearly back to expansion; CN banks under US sanctions threat; AU CPI tomorrow; Global “PMI week”. General trend - Hang Seng again led Asia, +1.7% at lunch, with only the Shanghai Composite lagging in Asia despite a further raft of govt support announcements.
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GBPAUD - Possible Short to Continue
#GBP/AUD# Reading the waves and Speed Index 1. After the High up Volume wave the reaction a Down volume wave with very high PVR 2. Fake Break with a very fast Speed Index of 2.5 3. Abnormal Speed Index of 15.4 with PRS signal = sellers Price dropped to Fib , next is to monitor reaction
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USD/JPY goes on a roller-coaster ride prompted by geopolitical risk
USD/JPY whipsaws lower and then higher on alternating risk-on risk-off caused by Middle East tensions. Governor Ueda talks about defending the Yen from further weakness and currency-induced imported inflation. USD/JPY price chart shows bearish Hanging Man forming, boding ill for future price action.
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Asia open: Billowing clouds of apprehension
Markets Thursday marked the fifth consecutive session of decline for US stocks as optimism regarding multiple interest rate cuts by the Federal Reserve waned. The downturn in sentiment can be attributed to robust economic data releases, prompting traders to adjust their expectations for multiple rat
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Pull-up Update