It seems like ages ago, but on Monday, it seemed like markets were on the precipice. The Japan’s Nikkei 225 index on Monday fell -12.4% and analysts were figuring out where the circuit breakers would be. There were chatter on how the Fed needed to have an emergency meeting and cut rates by 75 basis points. The market priced…
In the year-to-date USD/JPY has traded in a mighty range that has stretched almost from 140 to 162. By contrast EUR/USD has been stuck between 1.06 and 1.10, Rabobank’s FX analyst Jane Foley notes. Potential risks for a break higher coming from a softer USD “The lack of strong direction in EUR/USD is despite a wealth of news that…
2024.08.09 2024.08.09 USDJPY: Elliott wave analysis and forecast for 09.08.24 – 16.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 141.66 with a growth target of 165.00 – 170.00. A buy signal: after the price returns above 141.66. Stop Loss: below 140.50, Take Profit:…
With less than an hour left to go in trading, the broader stock indices are trying to fight its way to a positive close for the trading week. Both the S&P and NASDAQ indices are currently on pace for a negative close. If it remains that way, it would represent the fourth consecutive down week for each of those…
Russia Consumer Price Index (MoM) came in at 1.14%, above forecasts (1.1%) in July
2024.08.09 2024.08.09 WTI Crude Oil: Elliott wave analysis and forecast for 09.08.24 – 16.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: once a correction forms, consider short positions below the level of 79.40 with a bearish target of 70.50 – 67.60. A sell signal: after the price returns below 79.40. Stop Loss:…
The markets took a step back from pricing in their recession fears, leading to upticks for a lot of the major assets on Thursday. Which headlines helped boost market sentiment yesterday? We’re breaking them down for ya: Headlines: RICS: A measure of U.K. house price increases came in at -19% in July, more negative than June’s -17% reading Japan…
On the day: Stoxx 600 +0.6% German DAX +0.1% Francis CAC +0.3% UK’s FTSE 100 +0.3% Spain’s IBEX +0.7% Italy’s FTSE MIB +0.2% On the week: Stoxx 600 +0.3% German DAX +0.3% Francis CAC +0.1% UK’s FTSE 100 +0.1% Spain’s IBEX -0.4% Italy’s FTSE MIB -0.7% The STOXX 600 was down by as much as 3.6% early in the…
The prices of precious metals have recovered, Commerzbank’s commodity strategist Carsten Fritsch notes. Precious metals prices go up “Silver is trading at $27.5 per troy ounce again. Platinum is priced at $940 per troy ounce and Palladium at $930 per troy ounce. While Silver and Platinum have so far only regained some of their losses, Palladium has completely made…
2024.08.09 2024.08.09 XAUUSD: Elliott wave analysis and forecast for 09.08.24 – 16.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 2364.60 with a growth target of 2560.00 – 2650.00. A buy signal: after the price returns above 2364.60. Stop Loss: below 2340.00, Take Profit:…