I saw a reference to Abercrombie and Fitch (NYSE: ANF) in the media over the weekend and this prompted me to have a look at how the stock was currently charting. The article suggests that the company has been making an effort to reposition itself in an attempt to reclaim market share and the chart […]
Last week: Markets were relatively quiet to start the week, with the lower-volume trading associated with Thanksgiving week, but were well and truly rattled on Friday following concerning news about the fast-rising Omicron; a Covid variant that has emerged out of Southern Africa. This news sent global stocks markedly lower resulting in bearish weekly candles […]
The US$ march higher continues and this is keeping pressure on many Forex pairs. Caution is needed here, though, as there are a number of 4hr chart bullish-reversal wedges taking shape so traders should keep an open mind for some potential mean reversion, even if only temporary. Thursday is Thanksgiving and so, with the markets […]
The US 10 yr Yield was higher on Tuesday and this put pressure on the tech-heavy NASDAQ. The US$ is little changed though and, apart from the continued moves on Gold and the USD/JPY, there isn’t much change on other charts I monitor. The NZD/USD will be in focus today with the RBNZ rate update. […]
The US$ has rallied following President Biden’s renomination of Jerome Powell as the US Federal Reserve Chairman. The main movers after this news were Gold and the USD/JPY but pressure remains on all USD based Forex pairs. The thinner markets due to the holiday Thanksgiving week can generate exaggerated market moves so extra caution is […]