DOJ Investigating 15 Banks for Fraud The US Department of Justice has commenced criminal and civil investigations into at least 15 banks and payment providers as a component of a broad consumer fraud...
Mstislav Pavlov was born in Leningrad, Russia. Graduated from the Institute of Painting, the Union of Sculpture and Architecture named after I.Repin 1974. Member of “Union Russian Artists” 2002. Participant of multiple art exhibitions in Russia and abroad.
Stocks rise as S&P 500 hits all-time highs Stocks rose Thursday as the S&P 500 pushed further into record territory. Investors were digesting the latest economic data that included a drop in jobless...
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Discovering Italy Portofino: Portofino (Portofin / pɔrtufiŋ / Liguria in ) is an Italian town of 439 habitants  in the province of Genoa in Liguria. For its administrative extension, it is the...
The sharp EURUSD reversal supports the long discussed ending diagonal (wedge) interpretation. Diagonals are often fully retraced (sometimes quickly), which yields a target of 1.3294.
-There is a lot to break through at these levels. The 200 day average, October high and 2/27 low continue to hold up but 2 reversal attempts since 5/15 have failed. As such, beware a flush into 1.3560/90.
The US Dollar moved higher as expected against the Swiss Franc after prices produced a bullish Piercing Line candlestick pattern. A break above resistance in the 0.8952-56 area – the 100% Fibonacci expansion and the April 4 high – has cleared the way for a challenge of the 123.6% level at 0.9016. A daily close above that exposes the 138.2% Fib at 0.9053. A reversal back below 0.8952 aims for the 76.4% Fibat 0.8896.
While a long a position seems workable from a risk/reward perspective, we will tactically opt not to pursue it. The inverse correlation between USDCHF and EURUSD is now 0.92 on 20-day percent change studies, and we already have a short EURUSD position. Adding a long USDCHF trade here would in effect double our existing exposure, so we will continue to stand aside.
Drilling down to examine the four hour chart; a Gravestone Doji suggests the Euro bears may have run out of steam in intraday trade. While a sign of indecision from traders, it may be too early to suggest a shift in sentiment is on the cards for the common currency, given resistance looms nearby.