EUR/USD has made a hard bounce out of the 50 day simple moving average, closing yesterday bearish (-0.41%) and knocking out the previous day’s low. With the Monkey-Pox virus spreading in Europe, and a recession looming in the region I’m still looking for EURUSD to move towards parity. On the 1H chart it looks as […]
New York-based pharmaceutical firm SIGA Technologies (NASDAQ:SIGA) is among the companies to benefit from the growing threat of monkeypox, recently pushing its shares to an almost decade-high after the company obtained approval in Europe to use its TPOXX antiviral drug for the treatment of monkeypox. Smallpox jabs vs monkeypox On May 19, the World Health […]
EURUSD Price has made a strong recovery, and is now trading into the 50 day moving average (1.07632 as of now). There is also a pivot level here at 1.07573, and I am watching for a downside move out of this level. With Russia launching an all-out-assault on Ukraine, and cases of Monkey-pox spreading quickly […]
The Euro has shown plenty of weakness against the US dollar since the beginning of the year. The last significant strength it showed was in the last week of January. Since then, it aggressively shot for its pre-pandemic prices in early 2020. The next low it’s looking for is perhaps from 2017, at 1.03400. However, […]
Most traders are aware of the rout that the USD is carving into the Japanese yen and the Great British pound. Since the beginning of March 2022, the USD has appreciated against the yen by 11%, and 7% against the pound. Naturally, with their respective performances against the USD, the pound has strengthened against the […]
Today Australian employment data was release, with the majority of the data being worse than consensus. The Australian unemployment rate decreased to 3.9%, with forecasts at 4.1% (credit Tradays). Part time employed decreased by 88.4K, whilst full time employment soared 92.4K. Inflation is likely to continue rising in Australia with employment data like that, however […]
Over the past two years, technology companies have enjoyed explosive growth as investors were upbeat about the prospects for the sector at a time when people relied on technology to stay connected while cooped up in their homes. Internet firms like Zoom Video Communications (NASDAQ:ZM) were among those to reap substantial gains from the tech […]
Like most commodities, London coffee futures saw a massive price uptrend in 2021. However, since the beginning of 2022, it’s finally cooled off to an eight and half month low. As a silver lining, perhaps more interesting price action is currently heading our way. With a very sharp fall during the last two weeks of […]
After reaching a 40-decade high of 8.5% in March, many economists say the US consumer inflation rate has already peaked at that level after the latest print retreated to 8.3% in April. While this offers some hope for US households and small businesses that don’t profit from price hikes, price pressures will likely continue in […]
Experienced stock market traders often attempt to apply their battle-tested systems to forex trading. They often suffer the same setbacks as aspiring forex traders when they do so. Why is this? What makes the forex market so different from stocks, bonds, or indices? One key difference is that the forex market trades continuously, 24 […]