NASDAQ Powers to Fresh Record Highs

The NASDAQ closed at new record highs on Monday, led by strength in tech giants including Apple (AAPL), Amazon (AMZN) and Netflix (NFLX). The NASDAQ gained by over 28% in 2017 and has surged a further 16% so far this year. “FAANG” stocks (Facebook, Apple, Amazon, Netflix and Google parent Alphabet) were among largest drivers … Read more

EUR/USD Sinks to 13 Month Lows Amid Turkey Exposure Fears

EUR/USD sank to its lowest levels since July 2017 in early trading on Friday, breaking out of a period of consolidation that began in May. The Turkish Lira has fallen 30% since the beginning of the year and 10% since the beginning of August as fears mount over the health of the Turkish economy. The … Read more

Bitcoin Slumps as SEC Delays SolidX ETF Decision

The selloff in Bitcoin has intensified on Wednesday morning after Tuesday’s SEC announcement of plans to delay a decision on the SolidX Bitcoin ETF. The proposed SolidX Bitcoin ETF would hold bitcoin and seek to track the cryptocurrency’s price. With the delay, the SEC now has until the end of September to make a decision. On … Read more

GBP/USD Hovers at 11 Month Lows Amid Hard Brexit Fears

Cable slumped to its lowest levels since September of 2017 on Monday, as fears over the possibility of a hard Brexit took hold. In an interview with the Sunday Times published on August 5th, Trade minister Liam Fox estimated a 60% chance of a no-deal Brexit taking place. This ‘hard Brexit’ would leave the EU and the U.K. … Read more

EUR/USD Bears Eye Yearly Low

EUR/USD is under pressure with price coming precariously near the 2018 low of 1.1508 reached on May 29th. Price is confined within a descending triangle pattern and bears are looking for a potential breakout to the downside. Looking at the weekly chart we can see that price is nearing the 50% retracement of the upmove that … Read more