ONLINE FOREX BROKER
2019-11-11 • Updated
Trade ideas
SELL 55.95; TP 54.90; SL 56.15
BUY 57.20; TP 58.00; SL 57.00
The stock of Cisco formed a doji “shooting star” candlestick on the weekly chart. The price has been rising for 4 months in a row and is now at the all-time highs. It gained more than 40% since the last year’s corrective bottom. Obviously, the stock is now expensive, and investors may decide to take profit.
The daily chart shows that the pair formed a lower high. The decline below 56.00 will lead to a “double top” and open the way down to 54.85. On the other hand, an advance above 57.15 is needed to resume the uptrend with the target at 58.00.
The near-term downside looks more likely. In the longer term, Cisco represents a way to bet on a promising 5G market and thus remains attractive, so traders may look for buy opportunities at lower levels.
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On Wednesday, the US dollar weakened in anticipation of the US CPI data, which could influence market exposure. A Bloomberg survey predicts a year-on-year read of 5.0% to the end of April. Market sentiment is affected by the US debt ceiling and issues with regional banks. While the major APAC equity indices are...
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
On Friday 10th February 2023, the Office for National Statistics published the figures for the Gross Domestic Product (GDP) as 0.1% which turned out greater than the initial forecast of -0.2%. As a result of the positive outlook of this report, we need to examine the short-term impact on GBP pairs from a technical point of view.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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