Crude oil jumped on Tuesday after the U.S. Energy Information Administration in its monthly Short-term Energy Outlook maintained their forecast of an oversupplied market by early next year leading to gradually lower prices. The CEO of the world's largest independent oil trader meanwhile said he was looking into a 2022...
FX Update: Too much Brainard on the market’s brain?
If the action since last Friday has mostly to do with the shifting odds in favour of President Biden nominating Lael Brainard to serve as the next Fed Chair, then the market may be making too much fuss on what the shift from Powell would mean for Fed policy down...
Too much fuss on Fed Chair nomination options?
Today we break down yesterday's interesting US equity market session, as $140 billion leaked out of the Tesla market cap in a single day, helping drag the broader market lower. Plenty of single stock stories to focus on today, including the IPO today of (future) EV-maker Rivian, and as earnings...
Market Quick Take – November 10, 2021
Equity markets in the US were broadly weak yesterday, weighed down in particular by $150 billion in market cap gushing out of Tesla stock yesterday. Elsewhere, Chinese producer prices rose by their fastest clip for the cycle and oil prices jumped back higher and close to cycle highs. Today the...
I Underestimated the Power of This Profit Radar
I was reminded of that quote, and this approach, while thinking of the recent work of my friend and colleague, Chad Shoop… Chad’s developed a new strategy that relies on the Profit Radar screen.
GBPJPY potential for bounce! | 9th Nov 2021
Price is near sell entry price of 0.74266 which is also 127.2% Fibonacci projection and 61.8% Fibonacci retracement . Price can potentially dip to the first support level of 0.73288 which is 61.8% Fibonacci retracement . Our bearish bias is supported by the respective technical indicators. Any opinions, news, research,...
USDJPY potential for further downtrend | 9th Nov
Price is near sell entry price of 112.764 which is 127.2% Fibonacci projection and 38.2% Fibonacci retracement . Price can potentially dip to 111.983 which is also 50% Fibonacci retracement and graphical overlap support. Our bearish bias is supported by the ichimoku cloud indicator as price is trading under it....
EURJPY bearish continuation! | 9th Nov 2021
Price is consolidating in a triangle. We see potential for prices to dip from our sell entry 130.986 in line with 50% Fibonacci retracement and 127.2% Fibonacci extension towards our 1st support at 129.395 in line with 50% Fibonacci retracement . Technical indicators are showing bearish momentum. Any opinions, news,...
NZDCAD bearish continuation | 9th Nov 2021
Price is abiding to the descending trendline resistance, signifying a bearish momentum. We can expect price to drop from the pivot level in line with 127.2% Fibonacci projection towards the take profit level in line with 38.2% Fibonacci retracement and 161.8% Fibonacci projection . Our bearish bias is further supported...
AUDUSD potential for dip | 9th Nov
Price is near sell entry price of 0.74266 which is also 127.2% Fibonacci projection and 61.8% Fibonacci retracement . Price can potentially dip to the first support level of 0.73288 which is 61.8% Fibonacci retracement . Our bearish bias is supported by the respective technical indicators. Any opinions, news, research,...