Technical analysis of movements of the USD/JPY on the daily and 4 hourly timeframes. BlackBull Markets analyses the RSI and Stochastic RSI, which are indicators that can show many features of chart movement.
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Beginning mid-July, the USD/JPY began its downward trajectory, dropping to 130.39, a strong support level, after creating a high of 139.38. After which, some choppy price action in the first half of August has heavily disguised trader sentiment and a clear direction in the pair.
Now the choppiness may be clearing. The USD/JPY recovered some ground last week,...
Beginning mid-July, the USD/JPY began its downward trajectory, dropping to 130.39, a strong support level, after creating a high of 139.38. After which, some choppy price action in the first half of August has heavily disguised trader sentiment and a clear direction in the pair.
Now the choppiness may be clearing. The USD/JPY recovered some ground last week,...
Silver is down 7% over the past 5 days, we're at a pivotal point of support and breaking out of the channel may indicate a trend reversal. What do you think is next in store for this precious commodity?!
Canada may now be over the peak inflation hump. The Canadian Inflation Rate has dipped to 7.6% in July from 8.1% in June.
The main culprit for the fall in inflation is the decline in gas prices, which has helped negate food prices, which continue to rise (up by 10% from a year ago).
The Bank of Canada (BOC) is evaluating this latest inflation reading as it...
From relative obscurity, buy-now-pay-later (BNPL) services have become instant superstars. As consumer preference shifts from credit cards to interest-free instalments, the market for BNPL providers also grows, attracting regulations that may curb their capabilities and the fast rate at which the sector is expanding.
It wasn't until 2015 that BNPL caught...
As announced 2pm NZT, the Reserve Bank of New Zealand had a 50 basis-point rate hike. This has caused a rally in the NZD. See our technical analysis on RSI and expected resistance levels.
As announced 2pm NZT, the Reserve Bank of New Zealand had a 50 basis-point rate hike. This has caused a rally in the NZD. See our technical analysis on RSI and expected resistance levels.
The NZD/USD has been on a bullish trend against the US dollar since August 14, 2022. Unfortunately, the pair could not reach the 0.6500 key area, before staging a two-day reversal starting on August 15. Last week's high topped out at around 0.6470.
The drop in US Treasury yields was one factor that caused this uptrend in the NZD/USD, as investors worried about...
This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.
In addition to BHP’s results, the miner announced an AU $8.4...
This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022.
In addition to BHP’s results, the miner announced an AU $8.4...
Here we demonstrate the basic identification of a cup and handle that may be forming on a Nasdaq 100 index. See how the chart analysis is positioned over the second half of the month of August.
The EUR/GBP pair seems to be making another run towards the upper resistance of the descending channel.
It has already visited this upper channel boundary 4 times since June 15, 2022. Perhaps it will visit 0.8503, in confluence with the 50-day moving average before continuing its way south. Although the Supertrend Indicator may suggest that the pair doesn’t have...
Great Britian’s GDP Growth Rate data for June 2022 is released in a few hours' time.
The British economy expanded 0.5% MoM in May, unexpectedly beating forecasts for a neutral month of growth. May’s reading stood in stark contrast in April’s –0.2%, March’s +0.1%, and February's 0.0% readings.
The market forecast for June has the data returning to negative...
On the weekly chart, we can see that Gold has made a four-week push from lows of $1,680/oz to its current trading price close to $1,790/oz.
However, sentiment may be slightly bearish for Gold at the moment with many indicators pointing to the price falling.
For one, there is a bearish indicator on the monthly chart with a solidly formed double top pattern...
In comparison with perceived market-leader SpaceX, Rocket Lab USA's (NASDAQ: RKLB) valuation is underwhelming. Given its $2.5 billion market capitalization, Rocket Lab is eclipsed by the $127 billion SpaceX. However, analysts believe that assessing Rocket Lab's true worth warrants a look beyond its immediate financial results and into the pieces it is adding to...
Coinbase's shares breached a nine-week high and peaked at $101.18 in the first week of August following the announcement of its partnership with the world's largest asset manager, BlackRock.
Shares of the cryptocurrency exchange platform operator had been on the rise and reached the nine-week high of $80.81 when the market closed Aug. 3. The following day, it...
The Non-Farm Payrolls (NFP) for July 2022 surprised many as it reported that the US economy added 528,000 jobs, more than twice the consensus forecast. Total NFP employment has now returned to the pre-pandemic level, when 20 million jobs were lost.
At the same time, the US Unemployment Rate decreased to 3.5%, the lowest rate since February 2020. Additionally, US...
