Stocks and triangle patterns
We love triangles because they're easy to spot and predict possible price moves. Do we have any in the stock market?
Mixed markets in quiet trading
Information is not investment advice
Ichimoku Kinko Hyo
NZD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver after a remarkable sell off is trading significantly lower below the 23.6% retracement area.
US Market View
The global stock market rally weakened overnight after US markets soared to record highs on hopes for a vaccine-driven economic rebound in 2021. ECB warns that the banking situation in the eurozone isn't as good as third-quarter reports. Moreover, it's a heavy data day as the US moves up all of Thursday's usual releases to Wednesday because of Thanksgiving. Topping the bill, weekly jobless claims, and revised data for third-quarter GDP. The European Central Bank warned that Eurozone banks are by no means out of the woods, despite the prospects for a recovery next year.
The ECB warned in its semiannual Financial Stability Review that the risk of a broad asset price correction had risen after the rallies seen this year in markets from bonds to house prices and beyond. Crude oil continues to rally overnight, driven by the prospect of excess liquidity from central banks, but oil is also supported by hopes of a real rebound in demand next year.
USA Key Point
- US Oct prelim durable goods orders +1.3% vs +0.9% expected
- US initial jobless claims come at 778K vs. 730K than the estimate
- The NZD is the strongest and the AUD is the weakest
Gerasimos Papagiannis
Similar
Euro further strength is ahead
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…
US dollar once more is weakening further drop seems likely
Fibonacci Levels XAG/USD: Silver continuous to stand above 23…
Popular
Oil surged amid soft dollar
Oil is edging higher due to the overall risk-on sentiment and a weaker US dollar. Jump in to get the tech tips!
Stocks and triangle patterns
We love triangles because they're easy to spot and predict possible price moves. Do we have any in the stock market?
Euro further strength is ahead
Fibonacci Levels XAU/USD: Gold facing a further consolidation above 23…
Choose your payment system
