The Federal Reserve announced yesterday it is keeping the interest rate unchanged, a move that was largely anticipated. However, 2017 is still expected to see another rate hike with three more coming in 2018. Following the news, the dollar strengthened against its major rivals. The EURUSD pair crashed from above 1.2030 to 1.1860 in less…
If you were bullish on the price of crude oil, last week was nothing short of wonderful for you. The commodity opened the weekly trading session at $47.57 and after a small dip to the round number of $47, it climbed to as high as $50.47 a barrel, exceeding the previous major high of $50.40,…
It was September 1st, when the price of Bitcoin was hovering around the $5000 mark. Today is September 15th and the markets once again proved that for the cryptocurrency, two weeks is a very long time. BTCUSD just fell to $3051 on BITSTAMP and even lower on some of the other exchanges, erasing roughly 40%…
Ever since it fell to as low as 1.2774 on August 24th, GBPUSD has been steadily rising. Today, the pair climbed as high as 1.3353 after it became clear that the Bank of England was getting ready for a rate hike later this year. The long-term economic logic behind the Pound’s jump is clear. Higher…
On September 1st the price of Ethereum climbed to $395, making the impression the second largest cryptocurrency was going to reach a new all-time high very soon. Unfortunately for the bulls, ETHUSD reversed to the south for a 35% plunge to as low as $256 as of yesterday, September 13th. Crypto investors are starting to…
2017 marks the first time the United States is hit by two back to back Category 4 storms. Depending on who you ask, Harvey and Irma are estimated to have caused between $30 and $90 billion in combined damage. Chuck Watson, an analysts with Enki Research, went even further by saying that going back to normal…
As if Harvey was not enough, the United States now braces for Irma, which in turn is expected to be followed by Jose and Katia. Irma is considered to be the strongest hurricane ever to hit the shores of the U.S.. Its winds are blowing at speeds higher than 185 mp/h (300 km/h), enough to…
Johnson & Johnson is a global medical, pharmaceutical and consumer goods manufacturer, founded in 1886. The company’s stock, listed on the New York Stock Exchange under the symbol JNJ, is a component in the S&P 500 as well as in the Dow Jones Industrial Average index. This is a blue chip company with a long…
It has been a rough 2017 for USDCNH bulls so far. The pair has been in an uptrend since January, 2014, but it feels as if it was simply waiting for the calendar to change. The dollar climbed to as high as 6.9872 in late-December, 2016. Nine months later, it is down by 6.6% to…
GBPUSD bulls managed to take a breath after the pair recovered from as low as 1.2774 to almost 1.3000. Unfortunately, there is no way to know what this means without taking a look at the big picture and see where does this recovery fit into it. Should we join the bulls or get ready for…
You do not need to be Sherlock Holmes to find a good enough explanation for the recent surge in the price of gold. On one hand, there is North Korea, whose hostile behavior and multiple missile launches show just how fragile peace really is. On the other, there is Donald Trump, who has never been…
The Euro climbed to its highest level against the U.S. dollar since January 2015 after ECB President Mario Draghi expressed optimism about the Eurozone’s economic prospects in his speech at Jackson Hole on Friday. At least this is the reason mainstream media uses to explain the sudden surge in EURUSD. In our opinion, though, the…
We already shared with you our long-term and mid-term outlook of the German DAX 30 index, we decided it was time to take a look at the short-term, as well. The blue chip average recently pulled back from its all-time high of 12 951 and fell to as low as 11 934 earlier this month.…
Eight month ago, we stumbled upon the daily chart of Oil States stock and immediately recognized a dangerous situation. A few days before New Year, while OIS was trading close to $40 a share, the Elliott Wave Principle warned us that “the bears are supposed to take the wheel again“, since there was a “Textbook…
GBPUSD climbed to 1.3267 at the start of August, but the bulls’ dreams of reaching even higher levels were destroyed, when the pair reversed to the south for what turned out to be a selloff of over 430 pips – the pair fell to 1.2831 on Friday. Today is Monday and the Pound is in…
