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COTD: NZDUSD- Bullish Channel Looking Overbought
NZDUSD- 4HR NZDUSD - Despite looking somewhat choppy and uninspiring on the longer-term charts, price action could be starting to heat up for the Kiwi Dollar as we venture into the lower time-frames in today's Chart of The Day. In particular, it's the four-hour chart that we're looking at above that currently shows a convincing bullish channel ...
Read MoreOvernight on Wall Street: Thursday 05 November 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The spotlight remained on the US Presidential election day. Despite an unprecedented health and economic crisis, the 2020 election reflects a deeply polarised nation similar to the 2016 election results. As of writing, there are a few key battleground states yet to be claimed in this tight election...
Read MoreOvernight on Wall Street: Wednesday 04 November 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The spotlight was on the US Presidential election day. After a rout in the stock market last week, global equities climbed higher in the last two days fueled by the election polls. European markets rallied on Tuesday and major equity benchmarks rose by more than 2% on Tuesday. After the S&P5...
Read MoreCOTD: PYPL- PayPal Fueling A Digital Rally
PayPal (PYPL)- Daily PAYPAL - News of Paypal's venture into the world of Cryptocurrency last month sent the stock rallying 5%, as discussed in a previous article by Go Markets analyst @DeeptaGOMarkets. Since April, the share price, already on an upward trajectory, looks set to build on its momentum. The company's unique positioning within the s...
Read MoreCOTD: EURJPY- Upsetting The Euro Apple Cart
EURJPY- Daily EURJPY - Midway through the year, it appeared the Euro had found an edge against its Japanese counterpart with increased demand push the pair to price highs last seen in early 2019. However, the last few weeks have brought about a double whammy of virus lockdowns in Europe and more jittery Brexit negotiations as the final deadline ...
Read MoreOvernight on Wall Street: Thursday 29 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The bloodbath in the stock market continues as more countries are set to go into national lockdowns again following the surging number of COVID-19 cases. Source: Bloomberg The second wave of an outbreak in Europe is threatening to heavily affect the fourth quarter if stricter measures are not p...
Read MoreCOTD: XAUUSD- Is Gold Losing Its Shine?
XAUUSD - Hourly XAUUSD - The London session saw a much weaker performance from XAUUSD today, as it plunged around 2% on the open to print a low of $1869 on the day. Perhaps as the US general election approaches, coupled with stimulus talk and ongoing COVID-19 concerns, we may be seeing the start of some volatile moves for the precious metal. To...
Read MoreOvernight on Wall Street: Wednesday 28 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets It was another day of red in the global stock markets as certain European countries continue to post record numbers of coronavirus cases and reported more deaths seen since April. European stocks traded lower as tighter restrictions might be looming given the rapid spread of the second wave of outb...
Read MoreOvernight on Wall Street: Tuesday 27 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The daily records of coronavirus infections across the US and European countries have dampened risk sentiment. Global equities ended in a sea of red with major pullbacks in the European and US markets. Major US equity indices trade mostly in negative territory throughout the day as hopes for a s...
Read MoreCOTD: AUDCHF – Bearish Channel Dictates Trend
AUDCHF - 4HR AUDCHF - When looking at the daily chart for AUDCHF, there certainly appears to be signs of a bearish breakout building up for the pair. It's more of a longer-term trend that looks set to grind the price lower during the upcoming sessions. However, in today's Chart of The Day, we'll concentrate on the four-hour time frame as its pri...
Read MoreOvernight on Wall Street: Thursday 22 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The stock market remains driven by headlines on the US stimulus package leading up to the most-awaited political event of the year. European and US stocks edged mostly lower as stimulus chaos, Brexit woes, and COVID-19 spread across European countries continue to rattle the financial markets. So...
Read MoreOvernight on Wall Street: Wednesday 21 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The stock market continues to be driven by hopes of US stimulus leading up to the most-awaited political event of the year. Global equities were mixed on Tuesday as stimulus chaos, Brexit woes, and virus concerns continue to rattle the financial markets. Major US equity indices climbed higher on...
Read MoreDXY – Can The Dollar Rise To The Occasion?
DXY - Daily DXY - The daily Ichimoku chart displayed mostly indecisive moves throughout August and printed a low of 91.74 last month. It seemed DXY essentially tip-toed sideways as the market attempted to factor in both the US election event and the second wave of COVID-19. As the current price resides within the cloud, this wavering sentiment a...
Read MoreOvernight on Wall Street: Tuesday 20 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global equities struggled to advance higher as investors mulled US stimulus negotiations. European stocks initially brushed aside coronavirus lockdown restrictions in certain parts of Europe and pared gains as the reality of the state of coronavirus relief negotiations in the US showed no progress ...
Read MoreCOTD: EURAUD – Buy Signal To End Choppiness?
EURAUD - Point & Figure EURAUD - The EURAUD pair has bubbled along since June without providing a clear directional bias. The price, caught within a range, has looked static and uninteresting, but that could all be about to change as we study the point and figure levels above. Firstly, the price action itself may be suggesting a switch to a...
Read MoreCOTD: Crude Oil – Subtle Hints At Accumulation
USOIL - 4HR USOIL - Perhaps overshadowed by gold's recent performance in the commodities space, crude oil prices seem to be floundering as global markets remain uncertain of the future of fossil fuels. At first glance, the four-hour chart above looks slightly bearish as the price has failed to recover from the September decline. However, rather...
Read MoreOvernight on Wall Street: Thursday 15 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The US stimulus gridlock, earnings, Brexit woes, the rising number of coronavirus cases in Europe and vaccines updates drove risk sentiment on Wednesday. Global equities struggled to rebound as another company, Johnson & Johnson paused a late-stage trial of COVID-19 vaccine while they are inves...
Read MoreCOTD: USDCHF – Selling Into The Dollar Rallies
USDCHF - Hourly USDCHF- With the US Dollar Index trending lower combined with generalised political tensions worldwide, USDCHF appears to be selling on rallies and attracting much of the risk-off flow. October has seen a steady decline for the pair and produced a downward bearish channel, as shown above. It would seem the 92.00 region is beyond...
Read MoreOvernight on Wall Street: Tuesday 14 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Risk aversion crept back into the markets following the deadlock in US stimulus negotiations, no Brexit breakthrough ahead of the deadline and the rising number of coronavirus cases in Europe. Source: Bloomberg European and US stocks closed in a sea of red on Tuesday: The Dow Jones Industr...
Read MoreCOTD: EURJPY – Loss Of Momentum Weighs Heavy
EURJPY - 4HR EURJPY- Renewed selling interest in the EURJPY pair looks as if it may continue to lower levels during the upcoming sessions as the previous bullish technicals begin to waver. The four-hour chart above shows a validated bullish trendline that originated towards the end of last month. Current support for this trendline sits at 124.3...
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