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Overnight on Wall Street: Tuesday 13 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global equities were driven by optimistic tones around the intentions of securing a coronavirus relief package before the US election day. The momentum in European markets was overshadowed by the second wave of coronavirus cases across Europe. Source: Bloomberg Wall Street rallied lifted by the...
Read MoreASX200 – Can A Bullish Pattern Aid The Rebound?
ASX200 - Point & Figure ASX200 - Talk of a potentially aggressive stimulus package has helped boost the ASX200 as it looks to extend its recovery from the March lows. Using the point and figure method, we'll be looking to highlight potential pockets of supply and demand levels to monitor during the upcoming sessions. What initially ...
Read MoreOvernight on Wall Street: Thursday 08 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Risk sentiment remains fragile on Wednesday as US politics weighed on global equities. European stocks struggled for direction and were mostly in the red. Source: Bloomberg Wall Street reversed the trend and closed in positive territory. Volatility in Treasuries jumps to the highest since March...
Read MoreOvernight on Wall Street: Wednesday 07 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Risk sentiment soured on Tuesday following President Trump’s dreadful tweet where he ended stimulus talks. “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking American...
Read MoreCOTD: EBAY – Optimism Fades Eyeing 46.80 Support
EBAY - Point & Figure EBAY - Last week, we included AMZN as one of our Charts of The Day, looking at how this conglomerate has performed from a technical perspective. Today, we are heading back to the NASDAQ to check out eBay's stock price as it seems to be in the process of bucking the trend. As shown in the chart above, EBAY looked comf...
Read MoreOvernight on Wall Street: Tuesday 06 October 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Risk appetite improved on Monday on the back of President Trump’s health, higher expectations of a coronavirus relief package from the US and positive Brexit headlines. Global stocks were trading mostly in positive territory overnight. Source: Bloomberg The US share market was well bid lifted ...
Read MoreCOTD: CADJPY – Can Anything Prevent A Stronger Yen?
CADJPY - Weekly CADJPY - An exciting pair to keep tabs on at the moment is CADJPY due to the barrage of fundamental drivers. Short-term higher oil prices boost the Canadian Dollar while Coronavirus concerns push for a stronger Japanese Yen in risk-off scenarios. In today's Chart of The Day, we look at the weekly chart for CADJPY to filte...
Read MoreOvernight on Wall Street: Tuesday 29 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Despite continued uncertainty, global equities rallied on Monday mostly led by financial shares. The end of month flows and portfolio rebalancing may have contributed to the upside momentum. European shares fared better than its US counterparts with gains between 1.5% to 3%. Wall Street ended in...
Read MoreCOTD: NZDUSD – Downside Pressure for the Kiwi
Since its initial fall back in March, NZDUSD has steadily climbed onwards and upwards as the US Dollar floundered. While it would seem there is still some demand for the Kiwi, several indicators suggest otherwise, and the pair may be in for an imminent correction. The most recent clue to price action losing upward momentum is a double-top patter...
Read MoreCOTD: AUDCAD – Commodity Heavyweights on the Ropes
Today's Chart of The Day will focus on a longer-term trend reaching a pivotal moment in time. AUDCAD is notorious for ranging patterns as the two commodity-driven currencies battle it out for dominance, but one of these appears to have the upper hand on the weekly chart, which is what we'll look at now. Since earlier on in the year, the Australi...
Read MoreOvernight on Wall Street: Thursday 24 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global stocks ended mixed on Wednesday as risk sentiment remains fragile following fears of a second wave of an outbreak and the impact of the global economic recovery, geopolitical uncertainties, and limitations of central banks. European stocks fared better than its US counterparts. Source: B...
Read MoreOvernight on Wall Street: Wednesday 23 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global stocks edged higher after a tough start on Monday. European stocks recovered slightly on Tuesday after falling the most in three months due to the rising number of coronavirus cases. Despite the UK announcing new lockdown measures that could last for six months, major European stocks finishe...
Read MoreCOTD: BTCUSD (Bitcoin)
Early September, Bitcoin was the talk of the town, racing towards daily highs and stirring up speculative chatter of a bull rally in the not too distant future. In our Chart of The Day back on September 5th, we suggested a degree of caution due to the developing head & shoulder reversal pattern, and it turns out that a change in direction was...
Read MoreOvernight on Wall Street: Tuesday 22 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global equities fell on Monday - European stocks tanked and dropped the most in three months following the renewed fears of a second wave of coronavirus in the European Union and the United Kingdom. Major European stocks dropped by more than 3% yesterday. Source: Bloomberg Wall Street also stru...
Read MoreOvernight on Wall Street: Thursday 10 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Global stocks rebounded on Wednesday after a few days of heavy sell-off. Investors are keeping an eye on the volatility in the markets especially in the tech sector which was outperforming until the recent rout. Major European and US equity indices closed higher by 1% or more overnight. Source: ...
Read MoreCOTD: ANZ.AX – Anyone Banking On A Recovery?
ANZ.ax - Point & Figure ANZ.ax - In today's Chart of The Day, we take a look at ANZ (Australia & New Zealand Banking Group Limited), one of the 'Big 4' banks listed on the ASX 200. As the global pandemic continues to wreak havoc among the various business sectors, ANZ's share price has suffered considerable losses in recent months, as did ...
Read MoreOvernight on Wall Street: Wednesday 09 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets Following a public holiday on Monday for the Labour Day, the US share market extended losses into a new week. European and US stocks fell overnight as the relationship between the US and China turned sour. Ahead of the US election, markets are expecting the Trump Administration to ramp up the rheto...
Read MoreCOTD: USDCAD – Finally! A Breakout of the Descending Channel
USDCAD - 4HR USDCAD - As news of increased Coronavirus cases in the US dominates the headlines, coupled with falling global oil prices, USDCAD has been a formidable one to analyse in recent times. However, we are finally starting to see some exciting moves in the pair, making it a clear choice for our Chart of The Day. Firstly, USDCAD has somewh...
Read MoreCOTD: NZDJPY – Bullish Sentiment Shines Through
NZDJPY - 4HR NZDJPY As we start a fresh new trading week, NZDJPY has made our Chart of The Day on the four-hour time frame. We'll be examining the pair using the Ichimoku Cloud method. Despite the bearish tones presented in the shorter-term time frames, including the drop of almost 100 pips since the beginning of September, the Kiwi Yen cross re...
Read MoreOvernight on Wall Street: Tuesday 08 September 2020
By Deepta Bolaky @DeeptaGOMarkets Equity Markets The US financial markets were closed for Labor Day. The immediate attention was on President Donald Trump who raises the idea of decoupling the US and Chinese economies. Ahead of the US election, markets are expecting the Trump Administration to ramp up the rhetoric to curb the relationship between...
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