Wednesday, December 28, 2016

Gold has posted slight gains in the Tuesday session.

Gold has posted slight gains in the Tuesday session. In North American trade, the spot price for one ounce stands at $1137.32. On the release front, CB Consumer Confidence climbed to 113.7, easily exceeding the estimate of 108.9. On Wednesday, the US releases Pending Home Sales, with the markets expecting a strong gain of 0.6%.
As 2016 wraps up, US consumer confidence indicators continue to move upwards in what analysts are describing as a post-election surge in optimism. The CB Consumer Confidence report surged in December to 113.7, its highest level since August 2001. This reading comes on the heels of UoM Consumer Sentiment, which climbed to a 12-year high, with a reading of 93.8 points. Clearly, consumers are optimistic that the economy will continue to improve under Donald Trump. Both of these well-respected surveys found that consumers are confident that continuing economic growth will create new jobs and raise incomes. Trump’s economic platform remains short on details, but he has promised to cut taxes while increasing fiscal spending.

Monday, December 5, 2016

USD/JPY has posted gains in the Asian and European sessions

•USD/JPY has posted gains in the Asian and European sessions
•113.86 has switched to a support role following gains by USD/JPY
•114.83 is the next line of resistance
•Current range: 113.86 to 114.83
Further levels in both directions:
•Below: 113.86, 112.48, 111.45 and 110.24
• Above: 114.13, 115.45 and 116.88
USD/JPY ratio is almost unchanged in the Monday session. Currently, short positions have a strong majority (58%), indicative of trader bias towards USD/JPY continuing to move lower.
USD/JPY has started the week with strong gains. Currently, the pair is trading at 114.30. On the release front, Japanese Consumer Confidence dropped to 40.3 points, missing expectations. In the US, today’s key event is ISM Non-manufacturing PMI. The index is expected to improve to 55.3 points.

Thursday, December 1, 2016

A MarketRiders portfolio

A MarketRiders portfolio is constructed using the lowest-cost, most tax efficient, well-constructed exchange-traded funds (ETFs) that have average annual fees of 0.2%. You might not think that's a big difference. But here's how big it is. Take a $100,000 portfolio. Using the long-term average growth of stock and bond portfolio of 8% a year, compounding your gains over 20 years, and deducting the 3% in fees and taxes, you'd have $265,329. But if your fees and taxes were 0.2% instead of 3%, you would have $449,133. Online Wealth Management - MarketRiders


Summary :
Target Level : 1.0565
Target Period : 12 hours

Analysis :
Pennant identified at 30-Nov-17:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.0565 within the next 12 hours.

Supporting Indicators :
Downward sloping Moving Average

Resistance Levels :
( B ) 1.0667Last resistance turning point of Pennant.

Support Levels
( A ) 1.0565Last support turning point of Pennant.

Chart date range :
17-Nov-09:00 GMT-> 01-Dec-09:00 GMT
Data interval : 4 hour
RSI:34 Candles
MA:34 Candles