TipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, including Starbucks and Block.
Archiv für den Monat: Juli 2022
Euro Week Ahead: Non-Farm Payrolls in Focus. Will Jobs Market Offset Slowing Economy?
The Euro slightly gained as the US Dollar weakened. US GDP shrinking once again placed more focus on a pivot from the Federal Reserve. Are markets wrong? All eyes are on non-farm payrolls data.
Gold Price Outlook Turns Bullish as July FOMC Meeting Marks Peak Fed Hawkishness
Gold prices could continue to recover in the near term as weakening US economic data could prompt a Fed monetary policy pivot later this year, a scenario that could weigh on Treasury yields.
Ethereum technical analysis
Old school technical analysis says that price itself is the most inportant technical indicator. Some claim that the most important part of technical analysis lies in the price itself, as it travels through time.
ETH, in terms of technical analysis, is also a potential bear flag. Bear flags extend/continue a downward trend. The bear flag pattern has a powerful downward move followed by an upward consolidation channel. Furthermore, even if we do not have a bear channel, ETHUSD seems to be in a channel, after creating the recent touch point at its upper band. This supports that previously profitable Longs may take partial or full profit, and new bears will open new short positions.
The Ethereum technical analysis video shows the 14 day RSI (relative strength indicator) along with its simple moving average and we look for an upcoming crossover that seems to be imminent despite not confirmed yet. The RSI presents historical market strength and weakness. And is used by many traders as a popular technical indicator on charts to identify price momentum changes
A trade idea is provided for your consideration, for shorting ETH with a healthy stop above $1800, and 2 profit taking targets with a reward vs risk of 1.5, and a second that is much higher. See the Ethereum technical analysis video below for more.
On a weekly timeframe, ETHUSD may also be showing a pattern of Head and Shoulders pattern. On a technical analysis chart, the Head and Shoulders formation happens when a market trend is about to change, either from a bullish to a bearish trend. If that Head and Shoulders pattern plays out, many times, traders look for the price to reach a low that completes a measured move from the top of the head, with the middle of the measured move being the neckline. That would take ETH to apx $600, as shown in the chart below.
ETHUSD weekly chart with head and shoulders formationHowever, if ETHUSD goes above $1816, the bull case is over, the head and shoulders pattern has failed or was mistakenly formed in the first place. In any case, it would be time for realizing that the bulls have regained control. A trade idea must always include a stop.
If and when the technical analysis with Ethereum plays out, one could also decide to play a parallel trade idea with Bitcoin or most other cryptocurrencies, especially the ones perceived as being relatively weaker according to your own research. Trade ETHUSD or any other crypto at your own risk only.
Visit ForexLive for additional technical analysis ideas and perspectives.
This article was written by ForexLive at www.forexlive.com.
China official July Manufacturing PMI falls from June, and back into contraction. Again.
Official PMIs come from the China National Bureau of Statistics and the China Federation of Logistics and Purchasing.
For July:
Manufacturing 49.0, its lowest in 3 months and back into contraction
- expected 50.3 and prior 50.2
- China’s NBS attributes the result, according to statements reported in State media (Xinhua), to traditional production off-peak period, insufficient market demand, and the weakened performances of energy-intensive industries.
Non-manufacturing 53.8
- expected 53.9, prior 54.7
The ‚Composite‘ of the two hit 52.5, down from June’s54.1.
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This is not the first time recently we’ve heard of „insufficient demand“ as a reason for the poor performance of the country’s economic indicators. Ongoing outbreaks and associated restrictions have played, and continue to play, a role in this.
On a brighter note the non-manufacturing PMI indicator (this shows the performance of services and construction sectors), while down from June, recorded a solid expansion.
At the margin these numbers are a negative input to China-proxy trades such as AUD.
China’s zero COVID policy is making it difficult for the country to exit 2020! Low inflation rates in the country do allow fiscal and monetary authorities to pump in economic stimulus though.
This article was written by Eamonn Sheridan at www.forexlive.com.
Presiden Biden tests positive for covid again
Biden appeared to emerge from a mild case of covid last week after a round of Paxlovid treatment but the virus returned today.
There was a time when the President getting covid was market-moving news but those days are long gone.
This article was written by Adam Button at www.forexlive.com.
[東証]第1回「市場区分の見直しに関するフォローアップ会議」の開催について
HDE-Konsumbarometer: Der erwartete Konsumboom nach Corona droht auszufallen
Die Unsicherheit beim Gas und steigende Preise setzen der Stimmung der Verbraucher zu. Wie sich der private Konsum weiterentwickelt, hängt von Putins Willkür ab.Serie „Die neue Weltwirtschafts(un)ordnung“: Zeitenwende: Von der Herrschaft des Rechts zum Recht des Stärkeren
Die Globalisierung befindet sich auf einem ungeordneten Rückzug. Die neuen Spielregeln werden für Deutschland als Exportnation demnach gravierende Folgen haben.Martina Voss-Tecklenburg : Aus Duisburgs Arbeiterviertel nach Wembley: Mit absolutem Siegeswillen
Martina Voss-Tecklenburg steht im Zentrum des neuen Hypes um die Fußballerinnen. Die vielfache Europameisterin hat ihr Team bis ins heutige EM-Finale nach Wembley gebracht – und noch viel mehr vor.