Shooting Star Forming in GBP/JPY?

A Shooting Star Pattern (bearish reversal) appears to be forming on the daily GBP/JPY chart. Additionally, price beat a hasty retreat after probing the 200 period simple moving average, adding to the bearish scenario. However, several important fundamental factors could disrupt the current technical outlook. At 2PM ET on Wednesday, traders will be watching the … Read more

Gold Rallies to 10-Month High Amid U.S.-China Trade Optimism, Dovish Fed

Gold prices continued to march higher on Tuesday, boosted by optimism around U.S.-China trade relations.  Talks between Beijing and the United States aimed at ending a tariff war are set to resume later on Tuesday. Improving trade relations will increase risk appetite and dampen demand for the U.S. dollar as a safe haven, in turn … Read more

NASDAQ Boosted By AMZN, GOOG, MSFT, NFLX

The NASDAQ 100 index has risen to reach the key resistance level of the 200 period simple moving average on the daily chart. The tech heavy index was lifted on by large components on February 12 including Amazon (AMZN) rising 2.95%, Microsoft (MSFT) up 1.56%. Netflix (NFLX) rallied after William Blair analyst Ralph Schackart raised … Read more

Shooting Star Pattern in EUR/CHF

A textbook shooting star (bearish reversal) pattern has formed on the EUR/CHF daily chart. Additionally, looking at the daily chart above we can see that there is a confluence of indicators as price reached up just shy of the resistance of the 200 period simple moving average before reversing. The 4 hour chart gave us a chance … Read more

GBP/USD Slips Below 1.30 as No Deal Brexit Fears Intensify

The British Pound rebounded in January as the market expected that a ‘no deal’ Brexit was becoming increasingly unlikely. However, sterling has been trickling lower in recent days as fears mount over the possibility of leaving the EU without a deal on March 29th. Yesterday’s UK Services PMI missed expectations falling to to 50.1 versus … Read more