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Tag Archives: forex technical analysis

USD/CAD – Canadian Dollar Edges Lower Ahead of Canadian, US Job Data

USD/CAD is almost unchanged in the Friday session, as the pair trades slightly above the 1.34 line. On the release front, job numbers are in the spotlight on both sides of the border. Canada releases Employment Change and the unemployment rate, while the US releases three key events – Nonfarm Payrolls, Average Hourly Earnings and the unemployment rate. Weak oil prices in the...

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Germany Warns ECB About Keeping Expansionary For too Long

The battle of words between Germany and the European Central Bank (ECB) is heating up once again and is managing to affect the exchange rate of the euro zone’s single currency. ECB President Mario Draghi said Thursday morning that its current monetary policy stance is adequate and there is no need to start tightening. The euro moved lower against the dollar on his remarks. The ...

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West Texas Crude Recovers After Losses from US Inventories

West Texas crude has posted gains on Thursday, erasing losses which marked the Wednesday session. In North American trade, WTI futures are trading at $51.71. Brent crude futures are trading at $54.93, as the Brent crude premium remains steady at $3.22. On the release front, unemployment claims dropped to 234 thousand, well below the forecast of 251 thousand. The week wraps up with more employment data, as the US releases three key employment indicators ...

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Gold Loses Ground as ADP Payrolls Report Soars

Gold has posted losses in the Wednesday session. In North American trade, gold is trading at $1246.12 per ounce. On the release front, the ADP Employment Change jumped to 263 thousand, crushing the forecast of 184 thousand. ISM Non-Manufacturing PMI dropped to 55.2, short of the forecast of 57.0 points. Later in the day, the Federal Reserve will release the minutes of its March policy meeting. On Thursday, the US releases the weekly unemployment claims report. The Federal Reserve...

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Readying for the Breakout

Today's action was more subtle with indices regaining some of the Monday's lost ground, yet not enough to challenge prior highs.Best of the action was the Nasdaq 100. It's well placed to break above 5,450 and free itself from resistance. The MACD is very close to a trigger 'buy' with good relative performance against improving Russell 2000.The Russell 2000 didn't post a gain but it did hang on to 20-...

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Morning Charts 04/04/2017 SPx /es

No QE = No market. EU pulling some and now this - Abe Advisor Says It's Time To Pull The Plug On QE. Don't worry, it won't last long. Just long enough to get the proper amount of shorts lined up for slaughter. On to the lie - DOW Daily - DOW 50 dma support to crack at open. Usually when that cracks it falls to the 100 dma. If that's the case this time then a tumble to near 19,133 could be ...

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End of window dressing; day 78 of $QQQ up-trend; turbulence ahead? $PNRA, how to have patience after a GLB; GLB: $FIZZ

I have been writing that strong stocks often rise during the last week of the quarter as mutual funds spruce up their portfolios to look smart in their quarterly reports sent to investors. The indexes sold off on high volume at the end of the day on Friday and I am waiting to see what happens this week now that the quarter is over. The ...

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UK House Prices Fall For First Time in Two Years

U.K. house prices fell for the first time in almost two years in March, according to the latest report from Nationwide Building Society. The 0.3 percent monthly drop, the first decline since June 2015, pulled the annual rate down to 3.5 percent from 4.5 percent. That’s the weakest year-on-year increase in values since August 2015. While there’s monthly volatility in price changes, the underlying trend is showing the U.K. housing ...

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UK EU Trade Talks Could Take Place Before Final Divorce Terms Agreed

The European Union is ready to talk to Britain on a future free trade deal before the two sides agree final terms on Brexit, draft EU negotiating guidelines issued on Friday show. As part of a “phased approach”, Britain would just have to show “sufficient progress” on its divorce settlement in a first phase of negotiations and EU states could release a lock and agree to...

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Small Caps Advance

There were small gains across markets, but it was the Russell 2000 which benefited the most. Today's gain managed to push past the 20-day and 50-day MAs on a fresh MACD trigger 'buy'. Next up is a 'buy' trigger in the relative relationship between Russell 2000 and Nasdaq.The S&P was up against resistance, but it managed to post a small gain to edge just above its 20-day MA. This move is enough to open...

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