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GBPAUD: UK February ILO unemployment charge better than expected UK February ILO unemployment charge: 4.2% Expected: 4.0% Previous: 3.9% Job change: -156k vs. 58k expected Previous: -21k Average weekly earnings: +5.6% 3m/y vs +5.5% expected Previous: +5.6% Average weekly earnings (except for bonuses): +6.0% 3m/y vs +5.8% expected Previous: +6.1% Change in March salary: -67k Previous: 20k; changed to: -18k This is a particularly combined document as employment numbers are vulnerable whilst wages stay high. The revision of the February payroll indicates that the United Kingdom exertions marketplace constantly stated poor payrolls withinside the first quarter. That is an indication that the activity marketplace is loose, with the unemployment charge additionally rising. From that perspective, it facilitates give a boost to the case in the direction of slicing hobby rates. But with the warmer payroll numbers, the BOE might also additionally sense vindicated in persevering with to strengthen marketplace expectancies for August`s move.
Long
by Chart_MasterPro
EURJPY: the euro weakensIn Europe, EUR/USD fell 0.3% to 1.0789, near a five-week low, after data released earlier on Thursday showed German Retail Sales unexpectedly fell 1.9 % over February, illustrating the difficulties Europe's largest economy is suffering in the first quarter. European Central Bank officials have become very dovish of late, with board member Piero Cipollone the latest to hint at an interest rate cut as soon as June. “Wage growth appears to be on a gradual adjustment path over the medium term towards a level consistent with our inflation and productivity growth targets, in line with our inflation and productivity growth targets,” Cipollone told an event in Brussels on Wednesday. consistent with predictions".
Long
by Chart_MasterPro
AAPL: Time for PutsFirstly I'm a huge NASDAQ:AAPL fan when it comes to their products, however, I believe the time has come to buy some Put Options. Trend Analysis Utilizing the 1D chart, I found a double-top "M" pattern and at the time of this idea we are currently sitting a little under the second peak. The descent can be steep according to a macro-Fibonacci tool where the $125 share price rests around a 50% retracement level. Support at this level has been strong since May 2021. I used two micro-Fibonacci tools to identify areas of minor support during the descent. I believe the use of both is necessary as some traders will be using the uptrend retracement (green) and others will use the downtrend retracement (red). I believe that there is a good possibility for reversal at the 61.8% downtrend Fib retracement as this level has been a key area of support and resistance since August 2021; see image below. It goes without saying that by the time the share price reaches this level, the double top pattern will already be considered valid so it's my opinion that a catalyst in the form of bad news will be required to see further declines. Fundamental Analysis According to the Q3 Earnings Call (Annual Report), Apple has only utilized 17.67% of its $90 billion dollar share repurchase program authorized in May '23. According to a later footnote, Apple repurchased $76.6 billion of its shares during 2023 which leads me to believe there is either a mistake in the report or that most of the $76.6 billion satisfies an earlier repurchase program. On the 10K form, see bottom of page 18 - note 1 and bottom of page 20. Cash on-hand has increased by 27% since September 2022. Current ratio (current assets/current liabilities) is 0.99 which is concerning from a financial standpoint. However, this is an improvement from September 2022 when its current ratio was 0.88. Retained earnings, while still in a deficit, has improved by 93% since September 2022. These deficits were self-inflicted as Apple spent most of its net income on stock repurchases the last three years. Sentiments I didn't find anything that changed my opinion on the current market trend for Apple. While the company does appear to be improving it is still in a rough spot. The aggressive repurchasing of its own stock and placing itself into a deficit doesn't make sense to me as a long-term plan. I understand that companies will do this to raise their EPS and benefit their shareholders but it also says that the company doesn't plan on expanding in the foreseeable future.
NASDAQ:AAPLShort
by Shepherd_Investor
1
GOOGL to Low $100s?Overview Google ( NASDAQ:GOOGL ) is in the dangerous territory of a double top formation. I've discovered this same macro-pattern with a few other assets as well. In combination with a rise in long-term Treasury Yield Curve rates since December 2023, I think a rush of selling pressure could be around the corner. Technical Analysis Utilizing Fibonacci retracement levels along with historical supports & resistances, the $126-136 range appears to be a key level in the share price. The double top formation is a bearish reversal pattern that resembles the letter "M" and, when valid, the second peak is greeted with significant selling pressure. According to technical indicators GOOGL is beginning to reveal the symptoms of a bearish reversal. The share price has risen on dwindling volume, Money Flow Index (MFI) is approaching overbought territory, and the On-Balance Volume (OBV) is still under a ceiling created in March 2022. A rising wedge is also visible on the hourly charts with a micro Head & Shoulders in development. Should a high volume breakdown occur then I believe a price target range between $109-126 is probable, however, I am expecting adequate support around $126 as it correlates with both a 61.8% Fibonacci level and has history as a key area of support & resistance. Speculations Earnings season is a great time to profit from derivative trading, however, it can also be more treacherous due to the volatility most stocks experience in the days leading up to and immediately following their Quarterly Releases. Because GOOGL is having their Earnings Call in the next few days, I would not be surprised to see sharp price movements in either direction regardless of the current trends. Concrete stop-losses and price targets should be determined before entering any positions.
NASDAQ:GOOGLShort
by Shepherd_Investor
MRCB Breakout From DT Line - Good Price to EntryThis undervalued construction and property player in Malaysia, MRCB has shown good performance recently. Pullback from the 52Wk high at 0.705, the price now stabilize around 0.56 to 0.59. The intrinsic value for Malaysian Resources Corporation Berhad is RM9.91 based on Discounted Cash Flow Valuation, that is discounted 94.2% from current price. Price now recently break from downtrendline (refer chart) and need to break MID BB (MA20) at daily timeframe to confirm the uptrend mood. My price target using fibo is at TP1 D: RM0.795, TP2 D: RM1.03 Hold for long term investment! cheers
MYX:MRCBLong
by zeri85
QQQ to $392Trading Pattern QQQ has formed an ascending channel which may prove to be very lucrative for derivative trading. Utilizing Elliott Impulse and Correction Waves within the support and resistance lines, Wave 4 may dip as low as $392 which is a few dollars shy of a 61.8% Fibonacci retracement level. Technical Indicators A bearish RSI divergence has been present since the share price surpassed $400; the RSI highs retain a negative slope while the share price highs have a positive slope (both reflected in yellow). This supports the Elliott Wave Theory and ascending channel pattern as the share price is currently at, or soon approaching, the crest of Wave 3 as well as the ascending channel resistance line. QQQ may experience a slight bump upwards indicated by the RSI line (green) which appears to be close to crossing the MA line (red) from beneath. However, due to its close proximity to overbought territory, I believe selling pressure will begin soon after as might be indicated by the MACD. The MACD technical indicator shows a tightly wound MACD line (green) and Signal line (red). The MACD line is within dangerous territory of crossing its Signal line from above which is a bearish indicator and suggests an increase in selling pressure followed by a correction in share value.
NASDAQ:QQQShort
by Shepherd_Investor
6
SPY to $460Overview Utilizing trading patterns and consistencies between several technical indicators, I believe the equity market will begin to unload soon as traders collect their profits from the recent rally and prepare for the next FOMC meeting on 19-20 March. Trading Patterns SPY is currently undergoing a rising wedge which is a bearish trading pattern. Within the wedge, I outlined an impulse wave pattern which shows SPY at what may be the peak of the third wave. Rising share price on dwindling volume, in addition to divergences spotted on the RSI, MFI, and MACD, lead me to confidently believe a dip to around $460 is approaching. Price Target I used the support and resistance lines of the macro rising wedge to determine the paths of the impulse waves, assuming their troughs and crests will reach the respective lines. Presuming the rules of impulse waves hold true then the fourth wave cannot end pass the crest of wave one, which falls in line with the 50% retracement level of the third wave (blue and red Fibonacci tools). This level rests at a share price near $460. Utilizing a larger Fibonacci tool to encompass the entire rising wedge and a projected fifth wave crest as 100%, the $460 share price is around the 61.8% Fibonacci level (when used in the uptrend). Supporting Technical Indicators The MACD shows a divergence as well as an approaching cross over its signal line from above. While not as prominent as MACD, the RSI also shows a divergence between the share price and peaks within the RSI oscillator. I've highlighted the divergence by placing a horizontal line at the end of the first peak. It is also reflecting overbought signals. The MFI shows a sharp negative slope but the SPY share price is still rising. This divergence, aligned with the signals of the other two indicators, suggests the share price may be about to drop.
AMEX:SPYShort
by Shepherd_Investor
$0.000015 In Sight?Shiba Inu token has been grabbing momentum as of late. On the 1W and 1D charts, a distinct W is beginning to form with us being a little above the second trough at the time of this idea. I drew a crude Fibonacci retracement -- it is crude because I am not 100% that I am using the retracement tool accurately BUT there are three fibonacci retracement levels that show strong correlation to prior resistances and supports -- 78.6%, 50%, and 23.6%. If Shiba Inu's price can break through the resistance presented at 23.6% then the next major resistance appears to be at the 50% Fibonacci level, then the 78.6%, and then finally arriving at a bountiful price target around $0.00001587. According to the chart's timeline, this could take up to three months to complete at its current pace which presents two possibilities: Bitcoin ETF gets rejected and the crypto market experiences a news-propelled crash. Corrections will be inevitable in any market but, in my opinion, the Bitcoin ETF getting rejected could send us back to prior lows or at least close to it. Bitcoin ETF gets approved and the prior price target of $0.000015 may arrive sooner as well as be too conservative. Traders should remain cognizant of macroeconomic news and Bitcoin ETF updates as they can render a trading pattern invalid at any moment. However, should everything remain status quo and the market outlook remain positive, it is my personal opinion that this trade can benefit both short and medium term holders. Traders should practice good habits by increasing Stop-Losses with market gains and watching the volume to avoid entering or exiting a trade too soon. COINBASE:SHIBUSD
COINBASE:SHIBUSDLong
by Shepherd_Investor
(G(Gold fundamental forecast📊📈⤵oHello traders what do you think about Gold) ast Gold fundamental analysis forec 📈📉🧾📊 (technical analysis forecast) OANDA:XAUUSD 📌🔍 (Gold price my last idea 💡gold pullback short 2037 pullback short 2004 hitting target 🎯 gold same pullback reset taste resistance 2014down trand short 1986) Gold fundamental forecast 🖊📝 ✅Fundamental analysis of gold involves assessing various factors that influence its price. Here are some key aspects to consider:🪶 Supply and Demand: Gold's price is influenced by supply and demand dynamics. Factors such as mine production, central bank holdings, jewelry demand, industrial demand, and investment demand (including ETFs and central bank purchases) play a role in determining the balance between supply and demand. Inflation and Economic✅ Stability: Gold is often seen as a hedge against inflation and economic instability. During times of economic uncertainty or when inflation expectations rise, investors may flock to gold as a safe-haven asset, which can drive up its price. Interest Rates and Monetary Policy: Gold typically performs inversely to interest rates. When interest rates are low, the opportunity cost of holding gold (which doesn't provide a yield) decreases, making gold more attractive. Additionally, central bank policies, such as quantitative easing or tightening, can impact gold prices. ♻Currency Strength: Since gold is priced in US dollars, movements in the value of the dollar can influence the price of gold. A weaker dollar usually leads to higher gold prices, as it becomes cheaper for holders of other currencies. Geopolitical Events and Market Sentiment: Geopolitical tensions, such as conflicts or trade disputes, can increase demand for gold as a safe-haven asset. Market sentiment and investor speculation also play a role in short-term price movements. 🥇Gold Production Costs: The cost of producing gold can impact its price. If production costs rise significantly, it may limit supply and support higher prices. Technological and Industrial Demand: While investment demand is significant, gold also has industrial uses in electronics, dentistry, and other sectors. Changes in technology or industrial demand can affect the overall demand for gold. Analyzing these factors along with broader economic trends and market sentiment can help in understanding the fundamental drivers of gold prices) Safe trade 🙏 plaes like ❤ and comment's don't forget next analysis follow me
FXOPEN:XAUUSDShort
by SMC-Trading-Point
2
DXY DROP?? = Massive RUN UP on xxxUSD! READ. DXY recently had its massive rally to the UPSIDE which imo is a CORRECTIVE MOVE. We are expecting DXY to make its first LEG down this week or have its FULL DROP next week. How does this information about US DOLLAR help? IF USD goes DOWN, xxxUSD rallies UP. It is important you understand the US DOLLAR before engaging in any xxxUISD pair. How do we FRAME the trade setup? IF DXY pulls back up to the yellow zone first, we will be looking to BUY LONGS on xxxUSD pairs. BUT IF, DXY drops from our current price down to the PMH (If you have my indictors you should already see the PMH level on your chart.) we will be looking to SELL xxxUSD last LEG instead and that would mean, DXY has met up with the required volume needed to make a new HIGH. That will be our PLAY.
CAPITALCOM:DXY
by TheHOODofCRYPTO
AMZN to $1881HR Chart Amazon ( NASDAQ:AMZN ) has developed a bullish flagpole formation that is more easily seen on the hourly charts. This may serve as a continuation pattern that will launch AMZN to a 52 week high of $188 -- a level that hasn't been tested since July of 2021. Fibonacci retracement levels for the current trading pattern support the $188 ceiling as this value rests near the 168.1% level. On-Balance Volume (OBV) has a positive slope which suggests that bullish investors are outpacing the bears. I also recently began using the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicators. While my experience with RSI and MACD is limited, the RSI appears to be approaching a bearish crossover before the MACD crosses above its signal line. I interpret this as a possible correction to the pennant support line (the 4th leg) with a near immediate recovery. 1D Chart A share price in the $180s should be carefully watched as this level has been a significant area of resistance in the past. As tempted as I am to suggest it may be forming a double top, the middle trough dipped too low and it appears that AMZN may be trading in a horizontal channel. If AMZN surpasses the $188 price ceiling with significant volume then a 12 month price target of $250 is pragmatic. Should the opposite occur then a 12 month target of $80 could also be expected.
NASDAQ:AMZNLong
by Shepherd_Investor
2
Double Bottom Breakout and Symmetrical Triangle = PUMPInternet Computer (ICP) has undergone an extended period of trading within a horizontal accumulation pattern, accompanied by the formation of a significant double bottom pattern with a liquidity grab. Following the successful execution of the double bottom pattern, ICP broke out from the accumulation range, and it is currently trading within a symmetrical triangle. The anticipation is for a potential upward breakout from the symmetrical triangle pattern. 🔄 Horizontal Accumulation and Double Bottom Formation: ICP's extended consolidation within the horizontal accumulation pattern provided the groundwork for the formation of a double bottom pattern. The pattern is characterized by a strategic liquidity grab, indicating a shift in market dynamics and potential accumulation of positions. 🚀 Double Bottom Breakout Impact: The successful breakout from the double bottom pattern signified a reversal of the prevailing bearish sentiment. This breakout is indicative of increased buying interest, potentially paving the way for a sustained upward move. 🔍 Symmetrical Triangle Formation: ICP is currently trading within a symmetrical triangle, marked by converging trendlines that create a triangular pattern. The symmetrical triangle often represents a period of consolidation and indecision in the market, with the potential for a significant breakout. 💡 Anticipating Upward Breakout: The symmetrical triangle pattern suggests that ICP is coiling within a tightening range. An upward breakout from the symmetrical triangle could signal a continuation of the bullish momentum initiated by the double bottom breakout. Traders and investors may anticipate potential higher price levels if the symmetrical triangle is breached to the upside. 🔮 Future Outlook: The technical analysis indicates a favorable setup for ICP, with the successful execution of the double bottom pattern and the current consolidation within a symmetrical triangle. Traders should closely monitor the price action for confirmation of an upward breakout from the triangle pattern. The cryptocurrency market's dynamic nature emphasizes the importance of adaptability and risk management in trading decisions. If the symmetrical triangle is decisively breached to the upside, it may open the door for further upward movement in ICP.
by AlexWhale
Boeing: Descent to $130Overview Boeing ( NYSE:BA ) has had a rough several years due to the controversy surrounding its MAX series. Just recently, an incident occurred during a flight on the West Coast where a part of the fuselage blew off during an ascent and required a prompt emergency landing. Fortunately everyone onboard made it safely back to the airport. This follows years after the two fatal Boeing MAX crashes in 2018-2019. Technical Analysis This is a new one for me. The BA 1D chart doesn't reveal any obvious patterns and, if anything, was in the process of forming an ascending triangle which is bullish. In light of the breaking news I am fairly confident that the ascending triangle will become invalid then transform into a months long descending triangle. Utilizing Fibonacci retracement levels, I am expecting decent support around $130. Of course there will always be plenty of opportunity for scalping in-between now and then as the current share price is sitting around $249. Fundamental Analysis I will assess the balance sheet and provide a fundamental analysis sometime this weekend. However, I don't believe even a good balance sheet will alleviate the coming selling pressure. The markets are reactive to news and a healthy balance sheet would only mean certain recovery at a later time.
NYSE:BAShort
by Shepherd_Investor
5