Something Interesting in Financial Video February 2015
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Something Interesting in Financial Video January 2015
newdigital, 2015.01.30 09:23
Forex Technical Analysis: 6 Currencies in 6 Minutes
In this video, Greg Michalowski, reviews the technicals for six major currency pairs in six minutes. Included are the:
- EURUSD,
- USDJPY,
- GBPUSD,
- USDCAD,
- AUDUSD and
- NZDUSD.
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newdigital, 2015.01.31 14:19
Nikkei forecast for the week of February 2, 2015, Technical Analysis
The Nikkei as you can see rose during the course of the week, we continue to be consolidative, and as a result we need to get above the ¥18,000 level in order to continue to buy this market. We believe that there is plenty of support at the ¥16,500 level, and that the Bank of Japan will continue to push down the value of the yen, which of course should continue to bring up the value of the Nikkei given enough time. We are buyers of dips, and most certainly buyers of the aforementioned move above the ¥18,000 level.
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newdigital, 2015.01.31 14:22
DAX forecast for the week of February 2, 2015, Technical Analysis
The German index tried to rally initially during the course of the week, but as you can see the €10,800 level offered enough resistance to turn things back around and form a shooting star. This suggests that the market could fall, but ultimately we believe that there is enough support below to turn things back around as well. This simply looks like it’s going to be a pullback that should offer a buying opportunity, not some type of meltdown. With that being the case, we think that the DAX is going to offer value here soon, which of course is exactly what we want to see in order to push the market higher.
Keep in mind that the falling euro is of course good for stocks in general, as it should expand exports and also is in theory supposed to increase velocity of money in the European Union. That being the case, a lot of traders will avoid bonds in the European Union, as the ECB is buying them, driving yields down. This forces money into the stock markets and we cannot think of a better place to put your money in the European Union than Germany. After all, it is the engine that drives the European economy overall, so of course it makes sense that the DAX of all indices should be the strongest and most reliable. That’s typically the case, and most certainly will be in this particular circumstance. It may not be where the “hot money” resides, but it is where the stable and longer-term money is. Because of that, we believe that the longer-term move higher should continue, continuing to grind towards the €12,000 level.
We simply look at this pullback as a “heads up” that we can pick up the index cheaply, as we believe that there is so much noise near the €10,000 level that it’s almost impossible to break down at this point in time. Ultimately, with a soft central bank, this market should continue much higher over the longer term, offering plenty of buying opportunities every time it falls.
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newdigital, 2015.01.31 14:26
NASDAQ forecast for the week of February 2, 201 find, Technical Analysis
The NASDAQ as you can see fell during the beginning part of the week, finding the 4600 level for support. We bounce from there, and as a result we ended up forming a hammer, and it now looks as if the market is trying to build up enough pressure to break out to the upside. The 4800 level above should be broken eventually, but at this moment in time it’s been a bit resistive and therefore we may have to take some time. With that, if we can break above that level we believe that the market will then head to the 5000 handle.
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newdigital, 2015.01.31 14:33
S&P 500 forecast for the week of February 2, 2015, Technical Analysis
The S&P 500 fell during the course of the week, testing the 2000 level as a supportive area. That being the case, it appears of the market is ready to go back and forth and eventually go higher. The 2100 level of course is a target, but once we get above there we feel that the market to continue the uptrend that we have seen for so long. However, this week is of course the nonfarm payroll number, so we feel that the market should react to that but ultimately is in an uptrend for a reason.
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newdigital, 2015.01.31 14:39
US Dollar Index forecast for the week of February 2, 2015 Technical Analysis
The US Dollar Index initially fell during the course of the week, testing the 94 handle for support. We found enough support back there to bounce and form a hammer, and as a result it looks like the markets ready to go higher. This is a bit surprising though, considering how massively parabolic this contract seems to be. Nonetheless, what this means is that the US dollar should continue to strengthen against most spot Forex pairs as well. With that, we look at pullbacks as potential buying opportunities.
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newdigital, 2015.01.31 14:43
Gold forecast for the week of February 2, 2015, Technical Analysis
The gold markets fell during most of the week, but found the $1250 level to be supportive enough to turn things back around and form a hammer. That being the case, it looks like the market is fairly well supported and as a result should continue to go higher over the longer term. Because of that we are buyers of gold for longer-term moves, and believe that it’s only a matter of time before we break out to the upside and perhaps head as high as $1400 going forward.
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newdigital, 2015.01.31 14:50
USD/JPY forecast for the week of February 2, 201, Technical Analysis
The USD/JPY pair tried to rally during the course of the week, but as you can see struggled a bit and formed a shooting star. It is because of this that we believe that the market will different here, probably looking for support at the 115 level. We have no interest in selling this market, and look at the upcoming dip as a potential buying opportunity. We will look for supportive candles, and then start buying the US dollar on perceived value. We have no interest in shorting because of the central bank attitudes, as the Bank of Japan continues to work against the value of the Yen.
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newdigital, 2015.01.31 14:54
USD/CHF forecast for the week of February 2, 2015, Technical Analysis
The USD/CHF pair broke higher during the course of the week, slicing through the 0.90 handle. However, this market is most certainly in a downtrend now after the impulsive candle that we had seen a couple of weeks ago, so we are still interested in selling and not interested in buying. With that, the 0.95 level above should now be resistive, and we are looking for some type of resistant candle in that region in order to start selling. With that, we have no interest in buying this market.
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newdigital, 2015.01.31 14:57
USD/CAD forecast for the week of February 2, 2015, Technical Analysis
The USD/CAD pair broke higher during the course of the week, slicing through the 1.25 level. That being the case, it appears that the market should continue to go higher, but we may need to see a little bit of a pullback in order to continue the momentum higher. This is especially true considering that we formed a shooting star for the session on Friday, but ultimately we are obviously in an uptrend. The market should now head to the 1.30 level, and as a result we look at pullbacks as opportunities to pick up the US dollar “on the cheap.”
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