Forex News 24 |
- Dow Jones Today: A Sleepy Start to the Week, But Hold On
- Nasdaq Today: Celgene, Ulta, Caesars’ Buyout
- Gold Price Hits Another 2019 High
- Bernie Sanders’ Student Loans Proposal: 7 Things to Know Bernie Sanders’ Student Loans Proposal: 7 Things to Know
- Bitcoin Price Probes $11,000 as Crypto Bulls Extend Their Run
- You must make this trade today!
- 5 Top Stock Trades for Tuesday: CELG, BMY, CZR
- June 24, 2019 : EUR/USD may demonstrate a bearish pullback towards 1.1340.
- EURUSD, AUDJPY & USDCNH Eye Data, G20 Summit
- Minerva Neurosciences News: NERV Stock Up on Insomnia Treatment Trial Minerva Neurosciences News: NERV Stock Up on Insomnia Treatment Trial
| Dow Jones Today: A Sleepy Start to the Week, But Hold On Posted: 24 Jun 2019 03:02 PM PDT Hits: 6 A fun fact for readers before we get into Monday's happenings. Admittedly, I saw this on Twitter, but the source is credible: Did you know that the Dow Jones Industrial Average is on pace for its best June showing since 1938?  Source: Shutterstock As has been discussed at length in this space in recent days, summertime lethargy has been permeating markets. That was evident again Monday as the Nasdaq Composite and the S&P 500 lost 0.32% and 0.17% while the Dow Jones Industrial Average nudged higher by 0.03%. Investors could get some long-awaited excitement as soon as this week as several Dow components are slated to step into the earnings confessional. Here is a rundown of some of the Dow names reporting earnings this week. Walgreen Boots Alliance (WBA) Earnings Date: Thursday, June 27 Pharmacy giant Walgreen Boots Alliance (NASDAQ:WBA) reports fiscal third-quarter results Thursday before the open of U.S. markets. The consensus estimate calls for earnings of $1.43 per share for the Dow's number 26 holding. Nike (NKE) Earnings Date: Thursday, June 27 Athletic apparel and footwear behemoth Nike (NYSE:NKE) delivers fiscal-fourth-quarter results after the close of U.S. markets Thursday and it is worth noting the company is on a five-year streak of not missing Wall Street earnings estimates. "Analysts are expecting Nike to earn 66 cents a share and report revenue of $10.15 billion. That compares with EPS of 68 cents and revenue of $9.61 billion in the fiscal third quarter," according to Barron's. Monday's ActionIn late trading, about two-thirds of the Dow Jones constituents were in the green, but let's look at one that was not: Walt Disney (NYSE:DIS). Shares of the entertainment and media conglomerate finished lower by 0.72% to start the week, but let's not forget another Toy Story movie is in theaters and that is something to think about when considering Disney's already high-flying stock. The fourth installment in the Toy Story series took in $118 million over the weekend, ahead of the pace set by the third film in the series. That figure jumps to $239 million on a global basis, indicating Disney very well could have another $1 billion movie on its hands. Often mentioned here, United Technologies (NYSE:UTX) was one of the Dow's top performers today, adding 1.03% after an analyst waxed bullish on the stock ahead of its controversial merger with Raytheon (NYSE:RTN). Cowen analyst Cai von Rumohr boosted his rating on UTX to "outperform" while lifting his price target on the stock to $150 from $135. Investors looking to reduce volatility, and there are likely many of you out there, while positioning for Federal Reserve rate cuts take heart because Goldman Sachs identified some stocks with which to accomplish those objectives. On that list were three Dow components: Caterpillar (NYSE:CAT), Chevron (NYSE:CVX) and Coca-Cola (NYSE:KO). Bottom Line on the Dow Jones TodayFor those getting tired of the small gains and losses recently being notched by the major U.S. equity benchmarks, relief could arrive later this week when the G-20 summit kicks off in Japan. All eyes will be on President Donald Trump and his Chinese counterpart Xi Jinping. "Trump and Xi are set to meet Friday and Saturday this week at a Group of 20 summit in Osaka, Japan, with investors looking for signs the leaders can work out a truce in a trade war that has raised concerns about global economic growth and corporate earnings," according to MarketWatch. The outcome of the Trump/Xi meeting will likely chart the course for stocks early in the third quarter, if not for the rest of the summer. As of this writing, Todd Shriber did not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | ||||||||||||||||||
| Nasdaq Today: Celgene, Ulta, Caesars’ Buyout Posted: 24 Jun 2019 02:26 PM PDT Hits: 6 For being such a muted session in the Nasdaq today, there certainly were a lot of movers. The Nasdaq ended today lower by 0.32% and traded quietly all session long. The S&P 500 and Dow Jones make even calmer claims, ending lower by 11 basis points and higher by 3 basis points, respectively. That said, it was a very different story for the Russell 2000, which tumbled 1.2% on Monday.  Source: Shutterstock So what stocks were on the move? Well, there some big deals to talk about. M&A in the Nasdaq TodayFirst, Celgene (NASDAQ:CELG) and Bristol-Myers Squibb (NYSE:BMY) were on the move (as a reminder, BMY is buying CELG). In order to get FTC approval, the duo reportedly plan to divest Celgene's Otezla unit. Otezla generated about 10% of Celgene's sales last quarter and logs over $1 billion a year in revenue. It doesn't help that the deal is expected to take longer to go through too. Management previously expected the deal to close in the third quarter of this year. Now expectations are for Q4 2019 or Q1 2020. The news has Celgene down more than 5% on three-times normal volume. BMY is down more than 7.5% on almost five-times normal volume. That's not the only deal news though, with Caesars Entertainment (NASDAQ:CZR) agreeing to a $17.3 billion merger with Eldorado Resort (NASDAQ:ERI). CZR climbed over 14% in response, while ERI fell 13% on the cash-and-stock deal announcement. The charts for CELG, BMY and CZR stocks can be found here. WinnersNot including Caesars, Nasdaq bulls had their eye on Electronic Arts (NASDAQ:EA). Video game stocks were in the "Losers" category last week after some disappointing video game data, but are starting off this week strong. All it took was an analyst upgrade to send share higher by 3.85% on the day. Activision Blizzard (NASDAQ:ATVI) and Take-Two Interactive Software (NASDAQ:TTWO) also climbed on the day. Western Digital (NASDAQ:WDC) continues to rally, climbing 2.5% on Monday after putting in a low last week. The semiconductor and memory space is gearing up for Micron's (NASDAQ:MU) earnings on Tuesday after the close. For Micron's part, shares jumped almost 2% in early trading despite a report highlighting an analyst's "fugly" expectations, but the stock ultimately closed just below flat. I think Microsoft (NASDAQ:MSFT) has hit a new high every day that we've written the new Nasdaq Today column. Monday was no exception. You're welcome, bulls. LosersUlta Beauty (NASDAQ:ULTA) slipped 2.6% on Monday, but climbed well off the lows following news that Amazon (NASDAQ:AMZN) is opening its own Beauty supply store. The move is aimed at professionals, but never mind the impact to ULTA. Any time AMZN gets into a certain business — or even just talks about it — the well-established competitors get hit. This time around, it's Ulta's turn. At least it did better than Sally Beauty (NYSE:SBH), which fell 16.7%. After hitting new highs on Thursday, Workday (NASDAQ:WDAY) is pulling back, with shares down more than 3.3% on Monday. The stock remains in a steady uptrend, so perhaps Monday is just a bit of profit taking. Still, it caught investors' eye. High-octane growth names were under pressure on Monday too. That's names like Okta (NASDAQ:OKTA), Trade Desk (NASDAQ:TTD), Shopify (NASDAQ:SHOP), Twilio (NYSE:TWLO) and Veeva (NASDAQ:VEEV), which all fell 3.5% to 4.6% on the day. The weakness in TTD isn't surprising, nor is where SHOP stock topped out at. But this group is a favorite among momentum investors. Its weakness is noteworthy and long-term bulls will be waiting for a few more days like today to gobble up the stocks. There has been some concern about valuations for this group, which could be hitting the stocks today as analysts get shaky up here. Let's see how they trade the rest of this week. A larger market pullback could really push these ones down. Bottom Line on the Nasdaq TodayIt was a relatively muted day in the markets — with the exception of the Russell. Investors are trying to position themselves amid a very unique situation in the markets. We're hovering at or near all-time highs in most major U.S. indices, but have a full plate as well. The Fed is expected to cut interest rates next month, while we head into the G20 summit hopeful for some trade-war progress. That said, we also have to be mindful of after-hours tweets from President Trump that can move the markets in significant fashion — either up or down. Finally, while we have some earnings reports this week, we'll get into the thick of it in about a month. So it's an interesting market, even if Monday didn't tip its hand much on which direction will be next. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long CELG and AMZN. http://platform.twitter.com/widgets.js Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | ||||||||||||||||||
| Gold Price Hits Another 2019 High Posted: 24 Jun 2019 02:14 PM PDT Hits: 10 Gold Price Talking Points:
Looking for longer-term forecasts on Gold and Silver prices? Check out the DailyFX Trading Guides. The gold price rally in June has led to one of the strongest performances (thus far) by bullion in recent memory. In fact, with gold prices up by 8.73% in June 2019 at the time of writing, you have to go back to June 2016 (8.74%) in order to find another performance as strong as the one we've witnessed so far this month. There are numerous factors driving the gold price rally, but at the root of them all lies the US-China trade war. The prospect of the world's two largest economies engaging in a tit-for-tat tariff standoff has already started to cool global growth, and now Federal Reserve policymakers, led by Fed Chair Jerome Powell, are signaling to financial markets that they are ready to cut interest rates if necessary. Indeed, per the June Fed meeting, eight FOMC policymakers foresee lower interest rates by the end of 2019. Gold Price Rally Being Driven by Fall in US 10-Year Treasury Yield, US DollarWith FOMC policymakers' forward guidance pointing to lower interest rates in the future, US Treasury yields have been steadily eroding in recent weeks, with the US 10-year Treasury yield dropping below 2.000% for the first time since November 2016 – a precipitous decline of more than 100-bps from where it stood in November 2018. As has been the case for several weeks now, the ongoing decline in US Treasury yields amid speculation that a Fed rate cut cycle is about to begin has been fundamentally bullish for gold prices. With inflation relatively stable around the Fed's medium-term target of 2%, the drop in nominal US Treasury yields has created an environment where real US yields are falling, undermining the US Dollar in the process. Historically, falling real US yields and a weaker US Dollar have been paramount to periods when gold prices have rallied. In recent weeks, these relationships have proven valid: the 20-day correlation between gold prices (via XAU/USD) and the US 10-year Treasury yield is -0.82 (i.e. as yields fall gold rises); and the 20-day correlation between gold prices (via XAU/USD) and the US Dollar (via the DXY Index) is -0.76 (i.e. as the US Dollar falls gold rises). Falling US Yields and Weak US Dollar Symptomatic of the US-China Trade WarRecall the June Fed meeting and the press conference held by Fed Chair Jerome Powell. The elephant in the room during the press conference was the impact of the US-China trade war on monetary policy. It stands to reason that as a fiscal policy expedition, the US-China trade war may not be able to be fully offset by the Fed cutting its main interest rate. Even that being the case, the FOMC stands ready to act should the economy (via tightening financial conditions) necessitate a series of interest rate cuts over the coming months. If the most likely scenario for the Fed is to cut rates two times in 2019, the second most likely scenario may be that there are no rate moves at all (should a US-China trade deal emerge). In turn, this disparity in potential outcomes is leading to an environment marked by increased volatility. Gold Volatility Has Been the Predominant Factor for Gold Prices – More Than OthersWhile the gold price rally has been aided by falling US Treasury yields and the weak US Dollar, these are not the root causes of the recent market environment, but merely symptoms of the US-China trade war and its impact on Fed policy. The key theme here is "uncertainty." Uncertainty in financial markets translates to volatility. This uncertainty over the Fed's next move has been bullish for gold prices via gold volatility. While other asset classes don't like increased volatility (signaling greater uncertainty around cash flows, dividends, coupon payments, etc.), precious metals tend to benefit from periods of higher volatility as uncertainty increases the appeal of gold's and silver's safe haven appeal. GVZ (Gold Volatility) Technical Analysis: Daily Price Chart (September 2017 to June 2019) (Chart 1)Following the June Fed meeting, gold volatility (as measured by the Cboe's gold volatility ETF, GVZ, which tracks the 1-month implied volatility of gold as derived from the GLD option chain) is on pace to close at a fresh monthly high, its highest close of 2019, and its highest close since December 16, 2016. As we've previously noted, "the breakout in gold volatility underpins the breakout in gold prices." This rings truer than ever at present time, as both the 5-day and 20-day correlations between gold prices (XAU/USD) and gold volatility (GVZ) is a near-perfect 0.97. G20 Summit Matters Significantly for Gold Prices It would seem then that it is a straight line for gold prices to higher levels: if uncertainty around Fed policy remains thanks to the US-China trade war, gold volatility will remain elevated. The G20 summit in Osaka, Japan this coming weekend offers a critical litmus test for the recent gold price rally: a deal could scuttle even the best laid technical patterns for higher prices. Nevertheless, at present time, it appears that traders are anticipating that the G20 summit this weekend will yield little. Technical analysis studies show that gold prices may be gearing up for a significant long-term rally over the coming months; traders are not dissuaded by the short-term threat of a US-China trade deal coming together at the G20 summit in Osaka, Japan. Gold Price Technical Analysis: Weekly Chart (August 2011 to June 2019) (Chart 2)
The gold price rally in June may mark the continuation of a major bottoming effort that began in 2017, after breaking the multi-year descending trendline from the 2011 high. The turn lower at the end of 2018 may be a right shoulder in a multi-year inverse head and shoulders pattern, with the head forming at the November 2015 low at 1046.23. Ultimately, the placement of the neckline determines the final upside targets in a potential long-term gold price rally: conservatively, drawing the neckline breakout against the January 2018 high at 1365.95; aggressively, drawing the neckline breakout against the August 2013 high at 1433.61 calls for a final target at 1820.99. The multi-year inverse head and shoulders pattern would remain valid so long as gold prices hold above the most recent neckline touch at 1365.95. Gold Price Technical Analysis: Daily Chart (July 2018 to June 2019) (Chart 3)
Before traders get ahead of themselves on a potential multi-year bottoming effort by gold prices, the near-term effort may still have some room to run higher. The 100% extension of the gold price rally from the August 2018 low, February 2019 high, and May 2019 low comes in at 1452.72. Only if gold prices move below the daily 8-EMA, which has held up as support on a closing basis every session since the bullish outside engulfing bar on May 30, would the near-term bullish outlook for gold prices become invalid. Gold Price Rally Fits Definition of OverboughtDespite all of the exuberance over gold prices – and there is a good deal of technical evidence to support long-term bullish forecasts – traders should remain cautious. Since the gold price bottom developed in Q3'19, there have been five instances in which gold prices were more than 2% above their daily 21-EMA (i.e. overbought). In the previous five instances, gold prices averaged a 1-week return of -0.55%. Gold prices the past three days have fit this definition of overbought again. The risk for a near-term gold price blow off move to the topside, before a round of profit taking, has increased. IG Client Sentiment Index: Spot Gold Price Forecast (June 24, 2019) (Chart 4)
Spot gold price: Retail trader data shows 60.5% of traders are net-long with the ratio of traders long to short at 1.53 to 1. The number of traders net-long is 10.6% higher than yesterday and 26.8% higher from last week, while the number of traders net-short is 10.0% higher than yesterday and 6.5% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests spot gold prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger spot gold price-bearish contrarian trading bias. FX TRADING RESOURCESWhether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading. — Written by Christopher Vecchio, CFA, Senior Currency Strategist To contact Christopher Vecchio, e-mail at cvecchio@dailyfx.com Follow him on Twitter at @CVecchioFX View our long-term forecasts with the DailyFX Trading Guides http://platform.twitter.com/widgets.js Can you get prosperous from fx trading? The serve is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is farm in forex 1 symbol canadian, netdania forex, buy increase vantage of the forex scheme indicators, and account the mean fx strategy. We present follow win all.  | ||||||||||||||||||
| Posted: 24 Jun 2019 01:45 PM PDT Hits: 9
His plan would cancel federal and private loan debtBernie Sanders' student loans proposal is certainly winning him points with younger generations as the Democratic presidential candidate promises to cancel all student loan debt across the U.S.
Here are seven things to know about Sanders' proposal:
What do you make of Bernie Sanders' student loans proposal?
Article printed from InvestorPlace Media, https://investorplace.com/2019/06/bernie-sanders-student-loan-proposals/. ©2019 InvestorPlace Media, LLC
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| Bitcoin Price Probes $11,000 as Crypto Bulls Extend Their Run Posted: 24 Jun 2019 01:31 PM PDT Hits: 16 Bitcoin Price Outlook:
Bitcoin Price Probes $11,000 as Crypto Bulls Extend Their RunAfter jumping nearly $750 on Friday, Bitcoin topped the psychological $10,000 mark for the first time since March 8, 2018. The move extends the coin's incredible run in the year-to-date, with BTCUSD boasting a gain of roughly 185% in 2019. On Friday, I cautioned that weekend trading conditions would result in lower volume and therefore more drastic price swings, but hindsight reveals the move was etched amid healthy volume – adding credence to the move. That said, the coin may need to consolidate before bulls look to further its drive higher. Bitcoin Price Chart: 1 – Hour Time Frame (May 16 – June 24) (Chart 1)To that end, BTCUSD can now look to $10,000 as psychological support coupled with the nearby Fib levels at $9,545 and $10,010. Secondarily, an ascending trendline from mid-May could potentially join the fray if the two Fib levels prove insufficient. To the topside, Bitcoin will run into resistance around $11,550 – a level marked by the swing highs from February and March 2018. Bitcoin Price Chart: Daily Time Frame (May 16 – June 24) (Chart 2)
Despite the soaring price, retail traders are confident the Bitcoin rally will continue.Retail trader data shows 79.3% of traders are net-long with the ratio of traders long to short at 3.83 to 1. The number of traders net-long is 11.9% higher than yesterday and 17.8% higher from last week, while the number of traders net-short is 13.2% higher than yesterday and 1.3% lower from last week. Since, we typically take a contrarian view to crowd sentiment at DailyFX, retail trader positioning would suggest the price of Bitcoin may fall.
Similarly, the recent pace at which Bitcoin has climbed is reminiscent of its meteoric rise in late 2017 – and the similarities are not lost on investors and market pundits. With that in mind, consolidation would be prudent and could instill renewed investor confidence. Still, deteriorating emerging market currencies and the widespread media coverage of the cryptocurrency market with the arrival of Facebook's Libra may continue to provide a tailwind for Bitcoin and other cryptocurrencies. Follow @PeterHanksFX on Twitter for more updates on BTCUSD and the cryptocurrency sphere. –Written by Peter Hanks, Junior Analyst for DailyFX.com Contact and follow Peter on Twitter @PeterHanksFX Read more:AUDUSD & Nasdaq 100 Price Outlook: Huawei Offers Opportunity http://platform.twitter.com/widgets.js Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.  | ||||||||||||||||||
| You must make this trade today! Posted: 24 Jun 2019 01:15 PM PDT Hits: 6
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| 5 Top Stock Trades for Tuesday: CELG, BMY, CZR Posted: 24 Jun 2019 01:07 PM PDT Hits: 7 With the G20 summit right around the corner, stocks were relatively muted on Monday. Investors are trying to position themselves ahead of earnings next month, the Fed's looming rate cut and trade headlines leading up and following the G20 summit. Let's look at some top stock trades from Monday. Top Stock Trades for Tomorrow #1: Bristol-Myers SquibbShares of Bristol-Myers Squibb (NYSE:BMY) took a spill, falling over 7% on Monday. The fall comes after two pieces of news. With the company looking to wrap up its acquisition of Celgene (NASDAQ:CELG), the duo are apparently willing to divest Celgene's Otezla unit. That unit represented about 10% of Celgene's most recent quarter of sales and is a $1-billion-a-year drug. Investors obviously aren't too happy about that. Negative news about BMY's Opdivo isn't helping sentiment either. So what now? The charts were just starting to look good for BMY, with the stock trying to climb north of $50 for the time since March. Instead, investors are now hoping that support in the $44 to $45 area holds up. Top Stock Trades for Tomorrow #2: CelgeneIt also bring up the question of Celgene. Shareholders are to receive $50 in cash plus 1 share of BMY for each share of CELG that they own. Currently, that puts the deal value at $95 for Celgene stock, not including the cash incentive to shareholders for future drug approvals. However, because the deal is not expected to go through until Q4 2019 or Q1 2020 — unlike previously expected in in Q3 2019 — both stocks are still susceptible to big moves. Below the 20-day and 50-day moving averages is not all that great for Celgene stock. However, still north of $92.50 means CELG is okay, technically speaking. Top Stock Trades for Tomorrow #3: Caesars EntertainmentShares of Caesars Entertainment (NASDAQ:CZR) are surging on Monday, up almost 15% on a $17.3 billion merger agreement with Eldorado Resorts (NASDAQ:ERI), which is down about 15% as a result. With the exception of the size, the deal is somewhat similar to the BMY-CELG one above. Assuming regulatory approval, CZR stock could drift higher. At the time of the news release, it valued CZR stock at $12.75 apiece, more than $1 per share below current levels. That said, CZR's final value will depend on the value of ERI too. I want to see CZR stay north of the 200-day moving average. I also want to see ERI stock stabilize as well. Top Stock Trades for Tomorrow #4: New RelicNew Relic (NASDAQ:NEWR) is a new one for the Top Stocks list, but its action warrants some attention. $95 has been pretty solid support, as has the 200-day moving average. With Monday's fall though, both levels gave way. Bears may be tempted to short NEWR on a retest of this area provided it now acts as resistance. With support failing, a drop down to the $77.50 to $80 area is possible. Until it's north of $95 again, bulls may need to wait for a better opportunity. Top Stock Trades for Tomorrow #5: Match GroupMatch Group (NASDAQ:MTCH) caught a big bounce on Monday, with shares jumping more than 7%. The move comes on a test of the 50-day moving average, which has buoyed the name for months now. Over $74 and MTCH stock can breakout out. If it acts as resistance again, look to see if the 50-day holds once more. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long CELG. http://platform.twitter.com/widgets.js Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  | ||||||||||||||||||
| June 24, 2019 : EUR/USD may demonstrate a bearish pullback towards 1.1340. Posted: 24 Jun 2019 12:44 PM PDT Hits: 10 Since February 28, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Short-term outlook turned to become bearish towards 1.1175 (a previous weekly bottom which has been holding prices above for some time. On the period between May 17th and June 5th, a bearish breakdown below 1.1175 was temporarily achieved. As expected, further bearish decline was expected towards 1.1115 where significant bullish recovery was demonstrated bringing the EUR/USD pair back above 1.1175 demonstrating a significant bullish breakout off the depicted bearish channel. Although Temporary Bullish breakout above 1.1320 was initially demonstrated (suggesting a high probability bullish continuation pattern), Recently, The EURUSD pair has failed to maintain bullish persistence above 1.1320 and 1.1280 (the depicted price levels/zones). This was followed by a quick breakdown below the next key-zone around 1.1235. This triggered a deeper bearish pullback towards 1.1200-1.1175 where significant bullish price action was demonstrated. Currently, the EURUSD looks overbought facing a confluence of supply levels. Thus, a bearish pullback towards 1.1340 should be anticipated. Short-term outlook remains positive/bullish as long as bullish persistence above 1.1340 (Demand-Zone) and 1.1280 (Demand-Zone) is maintained on the H4 chart. A valid BUY entry was recently suggested upon the recent bullish breakouts above 1.1235 and 1.1320. Both are running in profits. SL should be raised to 1.1270 to secure more profits. Trade recommendations : For Intraday traders who missed the initial breakout, They should wait for another bullish breakout above 1.1400 as a BUY signal. Initial Target levels to be located around 1.1460 and 1.1500 Bearish decline below 1.1370 invalidates this bullish breakout scenario. The material has been provided by InstaForex Company – www.instaforex.com Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.  | ||||||||||||||||||
| EURUSD, AUDJPY & USDCNH Eye Data, G20 Summit Posted: 24 Jun 2019 12:38 PM PDT Hits: 13 EURUSD, AUDJPY, USDCNH CURRENCY VOLATILITY – TALKING POINTS
Currency traders will likely hone in on high-impact economic data releases out of the United States and Eurozone this week while awaiting the long-anticipated G20 summit in Osaka, Japan which kicks off on Friday. Due to rising uncertainty surrounding global growth, central bank policy and trade relations between the US and China, it is not surprising that implied volatility readings for EURUSD, AUDJPY and USDCNH have similarly ticked higher. FOREX ECONOMIC CALENDAR: US DOLLAR, EURO, JAPANESE YENVisit the DailyFX Economic Calendarfor a comprehensive list of upcoming events and data releases for major currencies and markets which is updated in real-time with actual, estimated, and prior economic indicator readings. Tuesday's trading session will provide markets with the first take from Fed Chair Jerome Powell since the June FOMC statement released last week. Commentary from Powell may provide further insight on the Fed's latest dovish leaning and when the central bank might begin to ease monetary policy. Prior to Powell taking the spotlight on Tuesday at 17:00 GMT, the US Consumer Confidence Index will be released at 14:00 GMT which looks to reveal an assessment of current business and labor market conditions as well as consumer expectations about the future. This report, along with Wednesday's release of durable goods orders and advance goods trade balance data, has potential to weigh in on the market's expectations for the Fed to cut rates this year which will undoubtedly impact the US Dollar. EURUSD PRICE CHART: DAILY TIME FRAME (DECEMBER 05, 2018 TO JUNE 24, 2019)
Also on the economic data front, Eurozone and US inflation measures will be released on Friday at 9:00 GMT and 12:30 GMT respectively. As such, spot EURUSD risks experiencing heightened price action over the near-term which is also suggested by the jump in EURUSD implied volatility. Judging by the 1-week implied volatility of 6.27 percent, spot EURUSD is estimated to trade between 1.1486-1.1288 with a 68 percent statistical probability. If recent trend in Eurozone and US economic data continues, EURUSD has potential to keep climbing higher – particularly if technical resistance from the 61.8 percent Fibonacci retracement of its year-to-date high and low can be overcome. Conversely, upbeat data out of the United States threatens to derail lofty Fed rate cut bets and bolster the greenback relative to the Euro. In this scenario, spot EURUSD could slide back towards major confluence around the 1.13 handle where the currency pair may find support from the 38.2 percent Fib. AUDJPY PRICE CHART: DAILY TIME FRAME (DECEMBER 24, 2018 TO JUNE 24, 2019)
Despite a relatively quiet Economic Calendar for Australia and Japan, spot AUDJPY looks set to form its next leg after consolidating over the last 10 days. While price action in AUDJPY may take cue from the high-impact economic readings elsewhere, market expectations surrounding the start of the G20 summit largely threatens to largely overshadow the hard data. That being said, spot AUDJPY might be expected to fluctuate within a 1-standard deviation trading band of 73.690 and 75.714 calculated using its 1-week implied volatility reading of 9.78 percent – the highest reading since May 15. Recent commentary from RBA Governor Lowe questioning the limitations of looser monetary policy looks to keep the Australian Dollar bid, but lingering anti-risk sentiment threatens to be reignited if traders lack optimism over the Trump-Xi meeting at the upcoming G20 summit which could send spot AUDJPY swooning. USDCNH PRICE CHART: DAILY TIME FRAME (OCTOBER 12, 2018 TO JUNE 24, 2019)
With much riding on the US China trade war meeting between the leaders of the world's two largest economies, USDCNH 1-week implied volatility is skyrocketing and touching its highest level May 13. According to the 6.49 percent 1-week implied volatility currently priced in by forex option traders, spot USDCNH is expected to swing between 6.8118 and 6.9354 with a 68 percent statistical probability. Spot USDCNH will likely react sharply to whether Sino-American trade relations deteriorate further or if the two countries can find common ground and break the recent impasse subsequent to Trump increasing tariffs on China. That being said, the direction of spot USDCNH over the next few days could serve as a possible bellwether to the market's expectations for US China trade war progress as we head into the start of the G20 summit on Friday. – Written by Rich Dvorak, Junior Analyst for DailyFX – Follow @RichDvorakFX on Twitter http://platform.twitter.com/widgets.js Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  | ||||||||||||||||||
| Posted: 24 Jun 2019 12:30 PM PDT Hits: 7 Minerva Neurosciences (NASDAQ:NERV) and its investors did not have the Monday blues as the company's stock soared greatly during the day following the announcement that one of its products designed to treat insomnia had a successful run in the business' latest clinical trial.  Source: Shutterstock The Waltham, Mass.-based biopharmaceutical company unveiled the results of the trial of Seltorexant, which was created to treat insomnia, and the trial achieved its primary and key secondary goals. The trial in question was in Phase 2b, and the results saw the drug reaching its primary endpoint of latency to persistent sleep, also known as LPS, at Night 1 in 10 mg and 20 mg doses of the medication. The Minerva Neurosciences product also met its key secondary endpoint, which it defined as wake after sleep onset over first six hours at Night 1. These beneficial effects were maintained over time and were consistent in both adults and elderly patients, the company said. "The findings from this study demonstrate that seltorexant significantly improves sleep induction and prolongs sleep duration," said Professor Thomas Roth, who has the title of Director of the Sleep Disorders and Research Center at Henry Ford Hospital. "The results also demonstrate that seltorexant showed a significantly greater improvement in these sleep parameters compared to zolpidem." The study included 365 patients with a mean age of 57.8, and they were between the ages of 22 and 84. NERV stock is skyrocketing 40.4% on Monday. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  |
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