Articles
NZDUSD forms a bullish divergence
As the banking crisis subside slightly with the news of First Citizens bank’s acquisition of Silicon Valley Bank (SVB), the DXY has reversed from the 103.50 price area, resuming the previous downtrend and currently trades at 102.60. This move lower on the DXY has resulted in the major currencies reversing on the lost ground to gain briefly agains...
BioNTech tops Q4 expectations
BioNTech SE (NASDAQ: BNTX) reported Q4 2022 financial results on Monday. The German pharmaceutical company reported revenue of $4.563 billion for the quarter, topping analyst estimate of $3.897 billion. Earnings per share (EPS) also beat analyst estimates at $9.876 per share vs. $8.296 EPS expected. CEO commentary ''We made significant ...
Gold at the $2000 level
Gold had been trading strongly to the upside since the beginning of March, rising from the 1810 price area to reach the 2000 price area which was last tested in April 2022. However, after reaching the resistance area, Gold retraced lower to test the 1937.50 support area which coincides with the 38.2% Fibonacci retracement level and the bullish tren...
The DXY post-FOMC Decision
On Thursday last week, the US Federal Reserve met general market expectations by hiking rates by 25bps, taking interest rates in the US to 5.00%. While there was some speculation over a possible slowdown in the rate hikes due to the banking crisis, the decision by the Federal Open Market Committee (FOMC) to hike rates for the ninth consecutive time...
Market Analysis 27-31 March 2023
XAUUSD Analysis 27 – 31 March 2023 The gold price trend can be viewed both positively and negatively in the short and medium term. As the close of last week's Doji bar indicates hesitation in the market. Although the previous three weeks, gold has had strong and consistent buying momentum since the beginning of March. But even so, the g...
The Week Ahead – Deutsche Bank wobbles, AU, EU and US CPI
With a volatile week behind us in equities, FX and commodities as traders were taking stock of the continuation of the banking crisis coupled with multiple Central Bank meetings, this upcoming week looks positively quiet in comparison. Though with growing rumours of banking giant Deutsche Bank wobbling (it’s share price is down over 24% in the la...
Bollinger Bands – what are they and how can you use them in FX day trading
Bollinger Bands are one of the most popular indicators that FX and CFD traders use, invented in the 1980’s they are a technical analysis tool that are widely used by short and long term traders. The main uses for Bollinger Bands is determining turning points in the market at oversold and overbought levels and also as a trend following indicato...
US stocks eke out a gains in choppy post FOMC session
US equities managed to hold onto small gains despite a mid-session sell off, in a volatile session as traders continued to digest the FOMC decision. 3 of the 4 major indexes finished in the green, with the Nasdaq outperforming, up 1% while the Russell 2000 finished down for the day, dragged down by the continued poor performance in reginal bank sto...
Red hot inflation in UK points to 25bp hike, BoE and SNB preview.
Bank of England Headline February inflation in the UK came at a hotter than expected 10.4%, well above the consensus of a drop to 9.9% and indicating that Januarys dip to 10.1% seems to have been temporary. Unwelcome news for the BoE who have a rate meeting today, before this figure the decision seemed to be on a knife edge, with the market...
US stocks pump and dump on FOMC, Powell and Yellen comments
US equities finished in the red in Wednesdays session , the session was volatile with some big moves in all risk assets which was unsurprising with probably the most important FOMC meeting we’ve had in the last 12 months. The FOMC hiked rates 25bp as expected, there was an initial rally in equities and drop in the USD as the accompanying state...
XAUUSD, GBPUSD, and EURUSD Analysis 20 – 24 March 2023
XAUUSD Analysis 20 – 24 March 2023 The outlook for gold prices remains positive in the medium term. This is because gold prices rose above the 1960 price line before testing the 2000 resistance and then dropped after failing to cross it. Adjust the resting base or sideways to go up to the resistance 2000 again, which is the next target tha...
The Fed, between a rock and a hard place – FOMC preview
Todays FOMC rate decision is certainly in play, with recent turmoil in the banking sector caused in no small part by aggressive Fed hikes over the last 12 months, throws a very big spanner in the works of the Feds plan to combat inflation. Up until a couple of weeks ago a 50bp hike was pretty much fully priced in as the Fed refused to budge on t...
US stocks continue rally, Gold takes a big hit and EURUSD outperforms ahead of pivotal FOMC meeting
US equities rallied for a second day amid further stability in the banking sector with assurances from treasury secretary Janet Yellen that the US financial system was safe helping to improve investors mood. All major indexes finished in the green with a big bounce in regional banks seeing the Russel 2000 outperform, up almost 2% on the day, wit...
Nike results announced
World’s largest sporting goods company, Nike Inc. (NYSE:NKE) reported fiscal 2023 financial results for its third quarter after the closing bell in the US on Tuesday. Nike beat both revenue and earnings per share (EPS) estimates for the quarter ending February 28, 2023. Revenue reported at $12.4 billion (up by 14% year-over-year) vs. $11.48...
US stocks rally as banking sector fears ease, USD and Gold down, Yields up
US markets rose modestly in Mondays session on a more positive tone in the banking sector following on from the UBS – Swiss government bail out of Credit Suisse over the weekend and hopes US banking regulators would backstop deposits to restore confidence in US mid-sized banks. We saw green across all major indexes, the NASDQ being the lagged ...