Q3 earning season is currently underway, and most high-profile companies are delivering revenue beats. Yet, Q3 revenue is not the only thing investors are watching. Investors are interested in revenue growth, customer acquisition, and pace of growth alongside the balance sheet. Inflationary and supply chain pressures that may affect the outlook of reporting companies are […]
AUDUSD has broken above previous resistance at 0.74780 and now pulled back. The question facing discretionary traders now is whether this is a pullback or a fakeout and reversal. Price is still holding above the inner trendline, however to confirm the trend is still in place I’d like to see the 0.75465 level broken above […]
My last article on the NZD/JPY outlined why I was looking for long positions at 76.500. The trade idea played out, with bullish seasonality pushing the pair to multi year highs. Price is now reaching multi year resistance at the 82.500 level. I anticipate some overdue correction to occur in the next few trading days, […]
“In my 45-year career as an investment counselor, humility did show me the need for worldwide diversification to reduce risk”. The above quote is from Sir John Templeton, the founder of Templeton Investment (now morphed into Franklin Templeton Investments (NYSE: BEN). The advice to diversify is iterated in some form or another by financial advisors frequently, such […]
JP Morgan, via EFX has stated that a “move below 1.24 puts bears firmly in control and sets the market up for an eventual retest of the 1.2047 Aug 2011 50% retrace”. They have also stated that the “50 day MA now marks tactical resistance”. Will we see the 50 day MA retested as resistance? […]
WTI/USD has crashed through 5 year highs at 76.88, and is now trading nearly $6 above the previous high. The RSI is now trading in overextended levels, however the ADX is just starting to tick upwards, suggesting that this bull wave may just be getting started. These prices are uncharted for 5+ years, but looking […]
EUR/USD has formed fresh 52 week (1 year) lows, and is now pressing to the upside. Price appears to be breaking out of the current descending wedge pattern, a bullish chart pattern. The horizontal blue dotted lines mark the 52 week trading range. With Price action, the RSI, and the ADX all moving to the […]
Inflation data from outside the US should pique traders interest this week. Several major economies will be reporting on actual inflation figures experienced during September 2021. Will they match their forecasted values, or will the data follow US inflation and surprisingly creep upward? Who should be watching? Traders of the Great British Pound, South African […]
This year, a word that has entered the vocabulary of many investors is SPAC, short for Special Purpose Acquisition Company. Yet, for some, what a SPAC exactly is and for what it is suitable, remains a mystery. What exactly are SPACs? I find it helpful to understand SPACs by breaking them down into bullet points: SPACs are shell […]
Is gold gearing up for a bullish end of year? Seasonal data would indicate – yes. In the last 8 years typically XAUUSD has closed October bearish. On the chart below you can see that XAUUSD has traded into 1800 resistance, but is currently well above the month open at 1756. The seasonal data shows […]