Forex News 24 |
- Analysis of TRAVELERS 7.06.2019
- 5 Gold and Silver Stocks Touching Intraday Highs
- June 7, 2019 : EUR/USD Intraday technical analysis and trade recommendations.
- 5 Top Stock Trades for Monday: AMZN, GOOGL, BYND
- Unusual Options Activity: Freeport McMoRan (FCX)
- 7 Stocks to Buy As They Hit 52-Week Lows
- Gold and High Yield Debt Funds See Record Inflows on Dovish Fed
- Jamba Juice Name Change: No More ‘Juice’, Just ‘Jamba’ Jamba Juice Name Change: No More ‘Juice’, Just ‘Jamba’
- 2 of Today's Hottest Stocks
- FX Price Action Setups in EUR/USD, AUD/USD, USD/CAD and USD/JPY
| Analysis of TRAVELERS 7.06.2019 Posted: 07 Jun 2019 01:47 PM PDT Hits: 4
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| 5 Gold and Silver Stocks Touching Intraday Highs Posted: 07 Jun 2019 01:25 PM PDT Hits: 5 U.S. stocks have rocketed higher this week thanks to a sudden dovish tilt from Federal Reserve policy officials as the futures market screams for multiple rate cuts this year. Suddenly, the U.S. economy is looking uneven as a fiscal drag (President Donald Trump's tax cuts are fading), a deepening trade rift and weakness overseas taps the brakes on things like manufacturing activity. And just like that, instead of worrying about increasing regulation on big technology stocks or a disruption to global supply chains into and out of China, Wall Street is enjoying the sugar rush from the promise of another dose of ultra-cheap money from the Fed. They don't even play coy anymore — they're just a bunch of liquidity junkies. The U.S. dollar is weakening in response, as monetary malfeasance raises the risk of runaway inflation and higher commodity prices. Gold and silver stocks briefly caught a bid today in response, sending the metals up off recent technical support levels. While most of their share prices normalized, all of these stocks exhibit strong technical signals to watch into next week. Related mining stocks have pushed higher as well. Here are five gold stocks and silver stocks ready for new money: Harmony Gold Mining (HMY)
The company explores, develops, and processes gold producing properties in South Africa and Papua New Guinea. Shares were recently upgraded to overweight by analysts at JPMorgan. Back in December, the company and its Wafi-Galpu Joint Venture partner Newcrest Mining Limited signed an agreement with the Independent State of Papua New Guinea to proceed with the development of that new project. Kinross Gold (KGC)
Such a move would be worth a gain of nearly 40% from here. The company produces precious metals in its facilities throughout the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania. As of the end of 2018, the company has proven and probable mineral reserves of roughly 25.5 million ounces of gold. The company will next report results on July 31 after the close. Analysts are looking for earnings of two cents per share on revenues of $815.7 million. When the company last reported on May 7, earnings of seven cents per share beat estimates by five cents despite a 12.4% decline in revenues. NovaGold Resources (NG)
The company recently reported a loss of two cents per share, matching the estimates of two analysts, while reaffirming their forward guidance. The Donlin Gold project is a large, still undeveloped deposit about 280 miles northwest of Anchorage, Alaska. The deposit has proven and probable reserves estimates at 33.9 million ounces of gold and a rate of around 2.1 grams per ton. Barrick Gold (GOLD)
Earlier this month, management indicated that company leadership had met with government officials in Papua New Guinea to reaffirm their commitment to a mining lease extension set to expire on Aug. 16. The company will next report results on July 24 before the bell. Analysts are looking for earnings of eight cents per share on revenues of $2.1 billion. When the company last reported on May 8, earnings of 11 cents per share beat estimates by two cents on a 16.9% rise in revenues. First Majestic Silver (AG)
The stock has basically gone nowhere since 2016, but looks ready to come out of hibernation. Analysts at B. Riley FBR recently initiated coverage, noting the stock offers significant leverage to silver prices. The company will next report results on Aug. 13 before the bell. Analysts are looking for a loss of two cents per share on revenues of $134.9 million. When the company last reported on May 9, earnings of a penny per share beat estimates by four cents on a 48.1% rise in revenues. As of this writing, William Roth did not hold a position in 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.
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| June 7, 2019 : EUR/USD Intraday technical analysis and trade recommendations. Posted: 07 Jun 2019 01:15 PM PDT Hits: 10 Since January 19th, the EURUSD pair has been moving within the depicted channel with slight bearish tendency. Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200 allowing further bullish advancement to occur towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15. For Intraday traders, the price zone around 1.1235 stood as a temporary demand area which paused the ongoing bearish momentum for a while before bearish breakdown could be executed on April 23. Short-term outlook turned to become bearish towards 1.1175 (a previous weekly bottom which has been holding prices above for a while) On the period between May 17th and 20th, a bearish breakdown below 1.1175 was temporarily achieved. As expected, further bearish decline was expected towards 1.1115. This is where significant bullish recovery was demonstrated bringing the EURUSD pair back above 1.1175. Recently, The EURUSD pair has maintained bullish persistence above the highlighted price level (1.1175). That’s why, further bullish advancement was expected towards 1.1235 then 1.1320 which both failed to apply any significant bearish pressure on the EURUSD pair. Recent Bullish breakout above 1.1320 renders it a newly-established demand level to be watched for BUY entries when bearish pullback occurs. Please also note that Bullish persistence above 1.1320 enhances quick bullish advancement towards 1.1420 – 1.1450. On the other hand, re-closure below 1.1320-1.1300 would probably allow another bearish pullback to occur towards 1.1235 where recent price action should be considered. Trade recommendations : A valid BUY entry was suggested around the price levels of (1.1220-1.1235). It’s already running in profits. Remaining Target levels to be located around 1.1380. Stop loss should be advanced to 1.1280 to secure some profits. 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.
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| 5 Top Stock Trades for Monday: AMZN, GOOGL, BYND Posted: 07 Jun 2019 12:48 PM PDT Hits: 7 Friday was the icing on the cake. A number of stocks surged higher on the day, with the S&P 500 and Dow Jones climbing more than 1% and the Nasdaq running as high as 2% before the close. The move comes off a less-than-stellar jobs report, as investors' hopes for further rate cuts fuel stock prices higher. Let's look at some top stock trades ahead of next week. Top Stock Trades for Tomorrow #1: Amazon
That $1,700 breakout level we were watching held for the most part this week. We've quickly seen a $100 rally in AMZN, as the market has been surging over the past few day. Shares are now running into downtrend resistance and the 20-day moving average. A push through this level could trigger a run to the 50-day. Should it act as resistance, I want to see if the 200-day moving average acts as support. If it does, AMZN will form a higher low, a bullish technical development. Top Stock Trades for Tomorrow #2: AlphabetGOOGL on the other hand, hasn't been acting so well. While it finally took out this week's highs on Friday, it's not doing so in convincing fashion. Consider how strong the Nasdaq has been all week, and short of Friday, how pathetic GOOGL stock has been trading. Now into the gap though and perhaps this one can gain some upside momentum. If downtrend resistance doesn't knock it back down, I want to see if Alphabet can fill the gap up to $1,100. Should GOOGL lose Monday's opening levels near $1,065, then the $1,035-ish lows are back on the table. Shares flirted with these lows all week and ultimately found buyers each time. Below here could get us a dip down to $1,000. If the markets fade next week, GOOGL may too. Top Stock Trades for Tomorrow #3: Beyond MeatOne of the market's biggest fascinations right now is Beyond Meat (NASDAQ:BYND), which is up 36% on better-than-expected earnings. However, don't be fooled. While this name can continue higher, it's mainly due to the very low share count currently available for trade as it's a recent IPO. Currently floating at new highs, BYND can continue higher if buyers keep pushing it. On a pullback, see if prior channel resistance near $120 can support it. If not, a pullback to $105 may be in order, which is prior range resistance. Below that and $95 is on the table, with the 38.2% retracement near $93. Further, the upward trending 20-day moving average is just below around $92. Top Stock Trades for Tomorrow #4: FedExHow ugly has FedEx (NYSE:FDX) been? Answer: Very. FedEx was in the news on Friday after it opted not to renew its Express U.S. service with Amazon. If we're giving FedEx the "benefit of the doubt" treatment, we can say that it already broke out of downtrend resistance (thin purple line). However, I have FDX in the "prove it" camp instead, because it's chart has been so dreadful. Therefore in my eyes, shares are still stuck in a downtrend (thick purple line). The stock has put in a double bottom at $150 and its MACD (blue circle) indicates that bulls are gaining momentum. Yet FDX just has too many trends going from the upper left to the lower right. Over downtrend resistance gets us to the 20-day. Over that gets us to $170, which I expect to act as resistance. At least on the first test. If $150 breaks to the downside, FDX is in no man's land. Top Stock Trades for Tomorrow #5: DocusignI covered Docusign's (NASDAQ:DOCU) earnings plunge, arguing that the selloff seems like an overreaction. Below key support between $50 and $52, as well as the 61.8% retracement at $47.78, and we said it was possible for DOCU stock to drop into the $45 area. On the plus side, it didn't have to go quite that low to find buyers. Even better, it reclaimed the 61.8% mark. So now what? I would love to see DOCU stock reclaim the $50 mark and its 200-day moving average. If it can, perhaps it can fight back into its prior range and give its 50-day moving average a test. Whether it gets that high or not doesn't really matter though, because it would be really bullish to see DOCU selloff this hard and quickly reclaim key support. On the downside, I want to see how Docusign reacts to $44 to $45 should it decline next week. If buyers can't buoy it, sub-$40 could be in the cards. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AMZN, AAPL and GOOGL. 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.
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| Unusual Options Activity: Freeport McMoRan (FCX) Posted: 07 Jun 2019 12:44 PM PDT Hits: 10 Big bet that copper mining giant will move at least 10 percent higher by early July. At least one trader is betting on a 10 percent pop in Freeport McMoRan (FCX) in the next month. On Thursday, nearly 5,900 contracts traded on July 5th $11 calls. With shares just over $10, they would need to rally nearly $1, or about 10 percent, for these calls to expire in-the-money. With a prior open interest of 102 in the contract before the trade, this is a big move. As a copper producer, Freeport is best-in-class. However, copper prices have been weak year-to-date, amidst trade war fears. In investing circles, copper is often known as Dr. Copper. This is due to its propensity to predict a recession, as falling copper prices reflect reduced demand. Copper is used in nearly every physical industry, from wire and piping to higher-end electronics. Action to take: Consider a stake in Freeport. A call option with a September date and $11 strike will give you more time for a bounce in copper to play out. But shares could be an interesting long-term buy here as well. New copper supplies are failing to meet up with current demand, and a shortage is likely to develop in the next few years as this trend continues.
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| 7 Stocks to Buy As They Hit 52-Week Lows Posted: 07 Jun 2019 12:08 PM PDT Hits: 13 It's amazing what a couple of good trading days can do for a lousy stock market. When I thought about doing an article about stocks to buy hitting 52-week lows recently, a quick search of companies with a market cap of $2 billion or more revealed a total of 124 hitting 52-week lows. Fast forward three days later and there's only 22 stocks hitting 52-week lows according to Finviz.com. Now, I'm as game as the next person when it comes to picking possible stocks to buy, but given I'm attempting to choose one stock from seven different sectors, 22's not going to cut it. Therefore, to ensure I've got better options from as many sectors as possible, I've relaxed the qualifier to those companies trading within 5% of a stock's 52-week low. By doing so, I get a total of 120 stocks with a least one choice from eight different sectors, making the options a lot more palatable. Methanex (MEOH)
As I write this, Methanex (NASDAQ:MEOH) is trading within seven cents of its 52-week low of $41.39, which is more than half its 52-week high of $83.23. Methanex is one of the world's largest producers of methanol which its customers to use to make everything from adhesives to windshield washer fluid. It also sells methanol to oil refiners who turn it into a high-octane fuel. Based in Vancouver, B.C., the company expects strong demand for methanol over the next four years with a growing piece of its business going to companies converting methanol to olefins which can then be turned into polyolefins, which are used to make all kinds of plastics. In late April, Raymond James analyst Steve Hansen suggested to clients that they consider Methanex stock because of its steep decline in price. Hansen's got an $80 price target and an outperform rating on it. "We continue to recommend that investors accumulate MEOH shares based upon our constructive view on improving methanol fundamentals, the company's robust associated free cash flow profile, and the stock's attractive valuation," Hansen stated. Trading at a level it hasn't seen since June 2017, if the economy holds, MEOH is a bargain. Wolverine World Wide (WWW)  Wolverine World Wide (NYSE:WWW) is trading within 38 cents of its 52-week low of $27.64, which is 31% below its 52-week high of $39.77. Wolverine, known for footwear brands such as Keds, Hush Puppies, Skechers, Sperry, and many more, is having a tough time dealing with tariffs on the Chinese shoes it imports. It recently asked the Trump government to reconsider increasing these tariffs as it would mean American households would be paying as much as a 100% duty on shoes imported from China. "While U.S. tariffs on all consumer goods average just 1.9 percent, they average 11.3 percent for footwear and reach rates as high as 67.5 percent. Adding a 25 percent tax increase on top of these tariffs would mean some working American families could pay a nearly 100 percent duty on their shoes," the letter stated. While the near term doesn't look good for the Michigan company, it still anticipates revenue growth in the low-to-mid-single digits in 2019. Despite all the tariff troubles, it estimates adjusted earnings per share will be at least $2.20, which means it is currently trading at less than 13 times its forward earnings. By comparison, Nike (NYSE:NKE) trades at almost 27 times its forward earnings. Simon Property Group (SPG) Simon Property Group (NYSE:SPG) is trading within 2% of its 52-week low of $159.69, which is 17% below its 52-week high of $191.41. Recently, a group by the name of Peer & Peri LLC made a mini-tender offer to purchase up to 20,000 of the mall owner's shares at a 21% discount to the $178.11 share price at the commencement of the offer on May 6. Down 8% since the offer was disclosed, it expired on June 6 at 5 p.m. Although Simon put out a statement recommending shareholders reject the below-market mini-tender offer, these things are intended to catch investors off guard, prompting them to mistakenly sell their shares at a discount. If you Google "Peer & Peri LLC," you will see that it happens to a lot of reputable companies. I'm not sure why it's allowed to happen, but it is. Forbes contributor Sanford Stein, who's spent four decades studying retail, recently made a great observation about Simon. "David Simon knows this stuff. That's why he is CEO of the largest mall developer in the country, with over 200 of the best remaining malls. It's also quite likely that when the 1,300 or so malls that exist today are reduced to 500 or 600, in say the next decade, Simon Property Group will still own and manage the best ones," Stein wrote May 14. I like the idea of getting SPG stock at $140 a share, but I wouldn't recommend you try to do it the Peer & Peri LLC way. CVS Health (CVS) CVS Health (NYSE:CVS) is trading within 5% of its 52-week low of $51.72, which is 37% below its 52-week high of $82.15. CVS held its annual investor day June 4; a day in which CEO Larry Merlo spent most of his time assuring shareholders that its acquisition of Aetna would pay dividends in the long run despite the apparent near-term difficulties. Merlo sees the company generating double-digit sales growth in 2022 once the $70-billion purchase is fully integrated. CVS is building a vertically integrated health business that provides everything from insurance, prescription drug benefits, healthcare services, and retail drugstores. It expects to find at least $300 million in synergies in 2019 and $800 million in 2020. "Keep in mind we're in the early innings of our transformational journey," Merlo told investors. "This will be a multi-year journey with benefits building over time as we continue to build and refine new programs to better serve the needs of our stakeholders." I'm normally not a fan of large acquisitions, but given how incredibly dysfunctional the U.S. healthcare sector is, anything that reduces the cost while maintaining profitability, is bound to do well in the long run. Take advantage of the uncertainty to get a well-run company at a very reasonable price. Pentair (PNR) Pentair (NYSE:PNR) is trading within 3% of its 52-week low of $34.72, which is 25% below its 52-week high of $46.00. Pentair became a pure-play water company in April 2018 when it spun-off nVent Electric (NYSE:NVT), its electrical connection and solution company. As a result, Pentair now has three water-related businesses only: aquatic systems, filtration solutions, and flow technologies. Given the importance of water in our world, the hiving off of its electrical business allows Pentair to focus entirely on water technology. Although the company's first-quarter core revenues were down 4% over the same time last year and its adjusted earnings per share fell 12%, it still expects to report adjusted EPS of at least $2.30 in 2019, which means it's currently trading at less than 11 times its 2019 earnings. Furthermore, with three operating segments generating almost identical revenues, it's got downside protection built right into its business model. Should a recession come to pass, it won't be overly reliant on a single segment for sales. It's not a sexy business, but it's got an excellent 2.9% dividend yield to get paid until its growth initiatives take hold. Urban Outfitters (URBN)  Source: Shutterstock Urban Outfitters (NASDAQ:URBN) is trading within 4% of its 52-week low of $22.19, which is 58% below its 52-week high of $52.50. Urban Outfitters has several issues that have brought its stock to its news in the past year. They include deteriorating business trends, difficult same-store sales comparisons, product issues at its Urban Outfitters brand, including a slowdown in women's apparel, and finally, a serious concern about tariffs on Chinese imports. That said, it continues to be one of the most financially sound retailers that's publicly traded. It finished the first quarter (April 30 quarter end) with no debt, $520 million in cash, and $447 million in free cash flow. Free cash flow yield is one of the metrics I use for non-financials to evaluate the relative value of a stock. In the case of URBN, it has an FCF yield of 23% based on an enterprise value of $1.94 billion. As long as it continues to deliver positive same-store sales growth, $23 ought to appear very cheap to investors. Citrix (CTXS) Source: Shutterstock Citrix Systems (NASDAQ:CTXS) is trading within 3% of its 52-week low of $93.12, which is 20% below its 52-week high of $116.82. Citrix, known for its on-premise software for making companies more productive, is moving to the cloud and subscription-based software offerings. The transformation is aimed at creating a platform that provides large enterprises with a hybrid cloud that can grow and adapt based on their needs. Change is always tricky, and while the transformation is expected to take several years, CEO David Henshall insists that it's the right thing to do for customers, employees, and shareholders. Citrix's Intelligent Workspace is a platform for company applications that operate intelligently to improve productivity. The company's goal is to provide enough productivity improvements through its platform to give users back one day of their work week lost to moving between applications. If you look at its revenues for the first quarter ended March 31, you'll see that Citrix's subscription revenues increased by 37% over a year earlier accounting for 19.7% of its overall revenue, 490 basis points higher than a year earlier. As it invests in research and development for the Intelligent Workspace, its subscription revenues will continue to grow at a double-digit pace. Down from its all-time high of $116.82, if it drops below $90, you're getting a terrific deal. At the time of this writing Will Ashworth did not hold a position in 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.
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| Gold and High Yield Debt Funds See Record Inflows on Dovish Fed Posted: 07 Jun 2019 11:34 AM PDT Hits: 11 GLD & HYG ETF:Gold and High Yield Debt Funds See Record Inflows on Dovish FedInvestors hopes for a rate cut from the Federal Reserve surged on Tuesday when Fed Chairman Jerome Powell issued a series of dovish-leaning remarks. The argument for a reduction in the Fed Funds rate was only bolstered on Friday with the release of a weaker than expected Non-Farm Payroll report. Consequently, the S&P 500 and Dow Jones look to rally into Friday's close. The higher likelihood of a cut resulted in newfound clarity for many market participants and allowed investors to move funds in earnest – resulting in the largest inflow ever for the high yield corporate debt ETF, HYG. Investors Flock to HYGData source: Bloomberg Tuesday's inflow of roughly $1.5 billion was the largest on record for HYG. It follows last week's outflows, one of which was the largest in 2019. Further, the $1.5 billion in fresh capital nearly doubled the previous record of roughly $790 million in October. The demand reflects the state of monetary policy and its relationship with risk and return. Check out the DailyFX Trading Guides page for quarterly forecasts, educational content and more. HYG offers exposure to debt typically viewed as risky but compensates by offering a high return. With the Fed's dovish remarks, the benefit of holding effectively risk-less US treasuries was dented while the outlook for beleaguered companies was bolstered – as money looks to remain cheap or become even cheaper. That shift has increased the attractiveness of HYG – thus the inflow. Gold Price and GLD ShineAt the same time, a dovish Fed has riled inflation expectations. While central bank officials have stated they will not hike rates to curb trade war-related inflation, the prospect of rate cuts increases future inflation expectations nonetheless. As a key hedge against inflation, gold spiked to fresh 2019 highs and the gold-tracking GLD ETF saw its largest inflow for the year.
Data source: Bloomberg The $696 million inflow into GLD marks the largest over the last year and brings the 2019 total to a net outflow of -$1.2 billion. With gold at fresh highs and the odds of a rate cut soaring, the precious metal could look to drive higher despite the relatively risk-on mood of markets this week. For more ETF analysis and commentary, follow @PeterHanksFX on Twitter. –Written by Peter Hanks, Junior Analyst for DailyFX.com Contact and follow Peter on Twitter @PeterHanksFX Read more: Stock Market Volatility and its Relationship with S&P 500 Returns DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you're looking to improve your trading approach, check out Traits of Successful Traders. And if you're looking for an introductory primer to the Forex market, check out our New to FX Guide. 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.
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| Posted: 07 Jun 2019 11:29 AM PDT Hits: 6 Jamba Juice announced that it has changed its name due to the fact that the food and drink chain offers more than just its juices.
The company said that its loyal fans have already been calling it simply Jamba for years, adding that the official name change is part of a broader modernization effort. The juice maker has been around for 30 years now, and it is adding to its expansion with a new mobile app, remodeled stores and delivery options through the likes of Uber Eats and Postmates. The decision to change the name also arrived due to the word "juice" taking on negative connotations as juice often has plenty of sugar. In 2012, American shoppers bought roughly 4 billion gallons of juice, a figure that declined by roughly 530 million only five years later, per market research firm Euromonitor International. Jamba is also planning on reducing the amount of sugar in its drinks, while also rolling out more reduced-sugar options later this year. The restaurant will also include a number of plant-based alternatives, adding that its beverages will soon be available to be made with spirulina, oat milk and pea protein. 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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| Posted: 07 Jun 2019 11:10 AM PDT Hits: 2 Weak jobs data has fueled expectations the Fed will ease borrowing costs
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.
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| FX Price Action Setups in EUR/USD, AUD/USD, USD/CAD and USD/JPY Posted: 07 Jun 2019 10:55 AM PDT Hits: 13 EURUSD, AUDUSD, USDCAD and USDJPY Talking Points:
US Dollar Bears Take ControlIt was a brutal week in the US Dollar. Just last Thursday, the US Dollar made a fast move towards the two-year-high, falling short before sellers came into play last Friday. That bearish theme has continued, with aggression, throughout this week as a couple of different items pointed in the same direction. Jerome Powell offered some dovish commentary on Tuesday, and on Friday, a disappointing NFP release helped to further the bearish theme. At this point, the US Dollar is sitting at fresh two-month-lows and next week brings the potential for more. But, with that said, the currency is oversold from a number of metrics, and this could present a backdrop in which the USD is due for a bit of a bounce, even if only temporary. Below, I look at two setups on either side of the US Dollar, looking to capitalize on whichever theme ends up taking over after this recent ramp of volatility. US Dollar Weekly Price ChartChart prepared by James Stanley Bullish EURUSD on Hold Above 1.1250Going along with that USD sell-off this week has been a bullish theme in EURUSD. That bullish theme has shown up despite the brewing risks around the Euro-Zone and the continued pace of dovishness at the ECB. But – those items aren't necessarily new, whereas this re-pricing of US rate expectations is; keeping the door open for an extension of further gains in EURUSD. EURUSD broke above a bearish trend-line this morning and is currently sitting at fresh two-month-highs. So, this may not be the most operable area to chase the pair-higher at the moment. But, a pullback to support, with respect of the pre-NFP swing-low around 1.1250 keeps the door open for further topside in the pair. This can expose a run up towards the prior zone of range resistance that runs from 1.1448-1.1500. EURUSD Eight-Hour Price Chart
Chart prepared by James Stanley Bearish AUDUSD on Hold Below .7070This week brought the peculiar scenario of a 'rate cut rally' in the Aussie, as the pair rallied up to fresh near-term-highs as the RBA cut rates to a record low of 125 basis points. This, of course, is due to the plunge in the US Dollar over the past week which similar to the scenario in the Euro above, comes from the fact that something 'new' is getting priced-in around USD while the harboring pessimism around the Aussie has been here for some time. The big question is whether this week's move in AUDUSD has more room to run and, if it doesn't, this could be an interesting area to start following for reversal potential. Prices are currently testing a zone looked at for resistance earlier this week that runs from .7000-.7019. If price action remains below the May swing-highs after next week's open, the potential for short-side reversal strategies can begin to get more attractive. This can allow for a more down towards .6960 with secondary target potential around last week's support, taken from the .6900-.6910 area on the chart. AUDUSD Four-Hour Price Chart
Chart prepared by James Stanley Bullish USDCAD on Hold Above 1.3250It's been a stark turnaround in themes around USDCAD. The pair broke-out to fresh five month highs just last week following the Bank of Canada rate decision. That move topped-out at the 1.3565 area, and since then bears have come back, with aggression, to push prices down to fresh monthly lows. But USDCAD is testing a previously key area of support, taken from the 1.3250-1.3300 area on the charts, and if buyers are able to hold the lows above the psychological level around 1.3250 after next week's open, the potential for reversal strategies can become more attractive. This can allow for target potential around the 1.3300 handle, followed by the 1.3361 level that temporarily helped to hold support earlier this week. USDCAD Daily Price Chart
Chart prepared by James Stanley Bearish USDJPY on Hold Below 108.70Above are a series of reversal scenarios or contrarian themes, largely looking for the risk aversion theme that showed-up in May to continue to dissipate after Chair Powell's comments earlier this week. But – the potential for risk aversion does remain, and traders would be remiss if they didn't at least consider the possibility of continued volatility expansion given the way that the month of May panned out. In the FX-world, few currencies are as attractive in themes of risk aversion as the Japanese Yen. As looked at in Thursday's webinar, the USDJPY pair has already experienced a volatile 2019, with a significant surge of Yen-strength after the open of the New Year slowly dissipating until, eventually, risk aversion came roaring back in early-May. This week's resistance showed-up at a key area on the chart, similar to what happened last week; and this continues a pattern of lower-lows and lower-highs in the pair that's now more than a month old. If sellers are able to hold resistance inside of the 108.70 area on the chart, the door can open for bearish continuation down to the next Fibonacci level from a sequence that's provided a number of inflections already in 2019. That level runs around the 107.00 handle, and tarders can look at tighter targets and potentially break-even stop moves on a test of the 107.50 psychological level. USDJPY Eight-Hour Price Chart
Chart prepared by James Stanley To read more:Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts have a section for each major currency, and we also offer a plethora of resources on USD-pairs such as USD/CAD, EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator. Forex Trading Resources DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you're looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we're looking at what we're looking at. If you're looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management. — Written by James Stanley, Strategist for DailyFX.com Contact and follow James on Twitter: @JStanleyFX http://platform.twitter.com/widgets.js Can you get princely from fx trading? The state is if you go from canadian forex, and light forex, use algorithms in fxtrading, what is distribution in forex 1 dollar river, netdania forex, cross sounding welfare of the forex system indicators, and stoppage the think fx strategy. We instrument win win all.
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