Last month I shared with you a trade setup for a single currency against the Fiat King. There were two charts posted: one was showing the global map and the other one was dedicated to the short-term trade setup.
You could have booked around 1.9% or more than 200 pips by the end of the March of my earlier trade idea, where I recommended buying the euro on the dips below 1.23. The ultimate target was set according to the Fibonacci ratio projections between the $1.2647 and the $1.3139 per 1 Euro. The risk was limited below the $1.2150, and it was not materialized since then.
Indeed, the Euro dipped below $1.23 down to the $1.2240 area as planned. But on the move to the upside, it only advanced as high as $1.2477 on the 27th of March still gaining more than you could have risked. The EUR/USD couldn’t overcome the earlier top beyond $1.2556, and it retreated after that.
In this post, I updated the EUR/USD chart for you as the short-term chart structure has changed and it offers another trading opportunity. Continue reading "EUR/USD Update: Another Chance For Rally"
We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Crude Oil Futures
Crude oil futures in the June contract settled last Friday in New York at 67.33 a barrel while currently trading at 68.35 up about a $1 for the trading week hitting a 3 1/2 year high & in yesterdays trade prices went up as high as 69.55 before profit-taking ensued. I'm currently not involved in this market as the chart structure is terrible as the 10 day low stands at 62.01 as the monetary risk is too high, however, I am certainly not recommending any type of short position as this trend is strong as the fundamental and technical picture remains bullish. Strong demand for crude oil and the entire energy sector continues to push prices higher as I still think we will trade above the $70 level in the weeks ahead as global supplies have dwindled over the last year due to the fact that worldwide economies are improving which is a terrific thing to see in my opinion. Crude oil prices are clearly trading above their 20 and 100-day moving average as this has now become one of the strongest trends in 2018 as I think this will start to support the precious metals and the agricultural market down the road. I'm looking at a commodity rally to finish out the 2nd half of 2018 as the Trump tariffs talks have finally subsided and I do think that the U.S. dollar which remains choppy at the current time will drift lower in the future helping supporting prices.
CHART STRUCTURE: POOR
Continue reading "Weekly Futures Recap With Mike Seery"
Heed Slowing Growth
Visa Inc. (NYSE:V) shareholders have witnessed a meteoric rise in share price since the post-Visa Europe integration which provided a double-digit annualized one-time boost to revenue growth and thus was being used as an incorrect growth comparator. Additionally, since Donald Trump was elected president, the vast majority of stocks have seen significant gains, and Visa is no exception, moving from $78 per share in December of 2016 to $126 in January of 2018 or a 60% appreciation. Now that Visa Europe has been fully reflected in its numbers, the double-digit revenue growth ceases to exist, and its lofty valuation is unjustified. Visa’s management has now forecasted revenue growth in the high single-digits for the foreseeable future with EPS growth in the mid-teens, artificially high due to share buybacks. With revenue growth rates slowing to single digits coupled with the past year appreciation and the stock boasting a P/E in excess of 40, I feel that further appreciation is unjustified and entering a position at these heightened levels is not prudent. Furthermore, Visa faces a rapidly changing landscape in the payments and peer-to-peer space with the likes of Pay Pal (PYPL), Square (SQ), Amazon (AMZN) and an emerging platform for bank transfers with Zelle. Blockchain technology also continues to gain ground in a variety of industries, and I feel that it will inevitably enter into the credit card transactions space. Continue reading "Visa - Heed Slowing Growth and Lofty Valuation"
Hello traders everywhere. Apple Inc. (AAPL) is leading declines in the technology sector which in turn is dragging down U.S. indexes ending what looked to be a positive week for stocks mid-week. Energy companies are also taking a bit of a hit from lower oil prices after President Donald Trump's criticism on OPEC in a tweet earlier in the morning saying that:
"Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted"!
The S&P 500, DOW and NASDAQ are all trying to post small gains for the week overall, which would give the three indexes their first back to back weekly gains since mid-February.
The almighty dollar is ending a strong week with a gain of .58% erasing the losses that it saw last week on the back of rising interest rates. Treasury yields are headed toward 2.95% on the week. Continue reading "Late Week Market Sell-Off Dampens Mood"
Analysis originally distributed on April 12, 2018 By: Michael Vodicka of Cannabis Stock Trades
Winning a license to sell cannabis in Canada is a lot like winning the lottery. It’s an immediate pathway into an untapped $5 billion market.
However, just like the lottery – it’s not easy to get one of these permits.
Four years after Canada updated its domestic cannabis laws – only 97 companies have been licensed. Around 30 of those companies are publicly traded and control around 45 permits.
Today – I am going to reveal the most recent winner of Canada’s cannabis permit lottery. Continue reading "Canadian Micro-Cap Scores Sales Permit"