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Intel stock stabilises after a sharp drop; neutral in the short-run. Intel’s stock fell sharply after touching an 18-year high of 57.57 in early June, before finding support around 42.30, a low last seen in February, and subsequently rebounding somewhat. However, given that the stock recently posted a higher high of
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Copper futures develop in a symmetrical triangle. Copper futures with delivery on March 2019 have been trading in a symmetrical triangle pattern over the last four months. Currently, the price is trying to slip below the 23.6% Fibonacci retracement level of the sharp downward movement from 3.3290 to 2.5485, around 2.7329
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GBP/JPY has more room to lose; negative in the near-term. GBP/JPY has declined considerably after touching several times the 143.90 resistance level in the previous daily session. In the short-term, the bias seems to be negative, while on the daily chart the pair remains in a sideways channel over the last four months with upper
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USD/CAD loses momentum below 18-month high; retains a bullish outlook. USD/CAD is losing momentum after the aggressive upside run towards the 18-month high of 1.3443 on December 6. The price is developing well above its moving averages which are positively sloped, a sign that the uptrend could continue and remains in
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The US will see the release of its latest retail sales figures on Friday, at 1330 GMT. This will be the final tier-one data set ahead of the Fed’s highly anticipated meeting next week, so it may prove especially important for the dollar. Retail sales are expected to have slowed to
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China’s latest industrial production, retail sales, and fixed asset investment figures will hit the markets early on Friday, at 0200 GMT. Forecasts point to an acceleration in the latter two, which may alleviate some worries around a slowdown in economic growth, and potentially help the yuan and the “China-sensitive” aussie
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General Electric stock at the lowest in more than two decades. General Electric stock price has been extremely bearish over the past two years, quickly and fully erasing its previous five-year-long uptrend to trade at levels not seen in more than two decades. The market action has been stuck below all moving averages which show no sign of
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The FTSE 100 stock index (UK 100) gains momentum after touching 2-year low. The FTSE 100 has rebounded somewhat after falling to a two-year low of 6670 on December 6 and momentum indicators now suggest that the market sentiment might get better as the RSI is moving higher in the negative territory. The
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Coca-Cola stock takes a pause after surging to record highs. Coca-Cola stock price hit an all-time high of 50.74 last month before stabilising slightly lower and is set to finish higher by 7.0% in the year. Yet, with the 20-day simple moving average losing steam, the upward pattern might not extend
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EUR/AUD loses ground in the near-term; indicators show signs for a downward move. EUR/AUD is losing some ground after the sharp upside rollercoaster in the preceding week. The price struggles below the 1.5880 resistance level and above the 23.6% Fibonacci retracement level of the up-leg from 1.3620 to 1.6350 around 1.5708.
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