The Global macroeconomic situation doesn’t look so pretty. The deceleration continues, with significant European trouble and softness in the US and China.
The US economy continues to accelerate into recession-level conditions. The ECRI weekly leading index, for example, looks grim. European energy crisis deepens. Dax is declining. S&P500 is forming wave-4.
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USDCAD visited the YTD highs at 1.3050s but failed to break up again.
USDCAD visited the YTD highs at 1.3050s but failed to break up again. The price has formed a clear Head & Shoulder reversal chart pattern, where we took a sell position supported with good volume. If the price bounces back to the previous support to retest as new resistance, we will be ready to watch […]
USDCNH confirmed the Bullish Double bottom
USDCNH is gaining momentum After the noticeable Head & Sholders on the H4 chart, the price dropped to the target zone and formed an excellent Double Bottom Bullis Pattern. The price has broken above the neckline and reached 61.8 of Fibo level, which makes a good confluence level with the neckline of the H&S pattern, […]
GBPJPY is setting up for a bearish cycle
GBPJPY pair was pretty nicely moving recently. We bought the very dip of the structure at the beginning of December and closed the long position on January 6th. What was the strategy of our long position back then? We bought inside the accumulation structure where bulls took control over the bears with bullish engulfing candlestick […]
HDFC Bank Deep Dive Fundamental Analysis
HDFC Bank (HDB) is the largest bank in India by market capitalization. The parent organization, called the Housing Development Finance Corporation (aka “HDFC”), was founded in 1977 and is a publicly-traded company. HDFC Bank, a separate publicly-traded company for a long time, was initially established as a subsidiary of that organization in 1994. It then […]
Bitcoin deep-dive fundamental and technical analysis
The post provides an update on bitcoin. Bitcoin remains in a corrective period. It had a small fake breakout in December 2021 with a higher high but has continued a corrective pattern, along with many other crypto assets.
Weekly Macro Fundamentals & Market View
The macro section of this post covers the global virus, the US business cycle, global manufacturing cycles, and the copper/gold price ratio.
EURUSD is setting for a bull breakout?
EURUSD is setting for a bull breakout? EURUSD has been consolidating at the bottom of the weekly bearish trend since November 2021. From the technical analysis perspective, we have to say that this is looking more bullish than bearish to me, and I plan to trade the pair on the bullish breakout. But let’s have […]
Oil and Energy Sector Report
Oil prices have had a bout of volatility lately. They rose faster this year than most people expected, but over the past week ran into some turbulence driven by OPEC+ disagreements. OPEC+, the international oil cartel, has had some disagreements about how much to raise their collective oil output to address rebounding global demand and […]
What drives the price of gold and what are the key correlations?
The gold price directionally continues to follow real interest rates, inversely: trade-room-2021-7-21-gold-vs-real-rates Chart Source: St. Louis Fed Notably, gold is following real rates as measured by 10-year Treasury yields minus 10-year inflation breakevens (the difference between normal Treasury yields and TIPS yields), not rates minus current year-over-year CPI growth. Treasury rates minus current year-over-year price […]