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Relief pumps still in play for XAU/USD

On the weekly chart, we can see that Gold has made a four-week push from lows of $1,680/oz  to its current trading price close to $1,790/oz.  However, sentiment may be slightly bearish for Gold at the moment with many indicators  pointing to the price falling.   For one, there is a bearish indicator on the monthly […]

BlackRock’s crypto deal helps COIN shares ahead of Q2 results

Coinbase’s shares breached a nine-week high and peaked at $101.18 in the first week of  August following the announcement of its partnership with the world’s largest asset manager,  BlackRock.  Shares of the cryptocurrency exchange platform operator had been on the rise and reached the  nine-week high of $80.81 when the market closed Aug. 3. The […]

How did the market react after July’s Non-Farm Payrolls?

The Non-Farm Payrolls (NFP) for July 2022 surprised many as it reported that the US economy added  528,000 jobs, more than twice the consensus forecast. Total NFP employment has now returned to the  pre-pandemic level, when 20 million jobs were lost.  At the same time, the US Unemployment Rate decreased to 3.5%, the lowest rate […]

Is the EUR/CHF overbought or oversold?

The EUR/CHF pair is currently in between the key levels around 0.97000–0.97900. We might see a  bounce from here up to the next resistance of 0.99500 and even up to the 1.00500 level, in confluence  with the 50 MA.   However, the overall trend for the EUR/CHF is seemingly bearish, and we could potentially see a […]

Why isn’t the US officially in a recession?

The US has technically entered a recession in the second quarter 2022 as the economy  contracted 0.9% year over year, following a 1.6% decline in the first quarter. However, the  official body that is tasked to make a call on whether the economy is in a recession has yet to  declare that the US is […]

Does the pullback in the USDJPY have legs?

The US dollar has retreated against its major trading pairs over the past two weeks, but notably, the  USDJPY has seen one of the most interesting pullbacks. After peaking on July 14, the USDJPY has fallen  more than 4% from a peak just below 139.500.  The 2-week weakening streak may continue as the sentiment from […]

Natural Gas from 3 technical perspectives

The current overall trend for Natural Gas is bearish, as seen from the monthly chart. The commodity has  possibly just completed the 5th wave of the Elliot Impulse Wave, this means that the next movement is  possibly a correction. There is also a divergence as seen in the price action and the RSI Indicator which  […]

Volatile opportunities in the DXY this week

Poorer-than-expected business activity surveys are weighing on the market outlook for the US, and with it,  the USD has stalled its climb against its major trading partners.  Fears about growing prices and the possibility of recession caused the dollar index to lose ground last week.  On its way down, the DXY danced on the 106.50 […]

Moving Average and Fibonacci exposing key levels in the USDCHF

The USDCHF pair has been swinging from bullish to bearish from a weekly perspective on this pair.   It has established strong resistances at 1.00571 to 1.00148, forming a double top as it tried to break  these levels. The double top rejection resulted in the USDCHF pushing back down and bouncing off  0.94907. This price level […]

Why did Pinterest’s shares surge 16% last Friday?

Activist investor group Elliott Investment Management has reportedly taken a ~9% stake  in Pinterest to become the group’s largest shareholder  Elliott Investment Management could push Pinterest to boost its ad revenue in global  markets  Pinterest’s (NYSE:PINS) shares closed up 16.2% on Friday on the New York Stock Exchange  after the Wall Street Journal reported after […]

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