Daily reviews

News of the day, Tuesday, 25 January

Foreign enterprises operating in China became very vulnerable with the new Omicron variant spread. China’s strict localized lockdown strategy has been showing a delightful performance so far, but that was an “old” COVID-19 case. The contagious Omicron might cause more lockdowns. Surely, they …

The GBP/USD pair traded with strong negativity yesterday, to achieve our first extended target of 1.3460 and try to break it, affected by the previously completed double top pattern, waiting for more decline to visit 1.3400 as a next corrective station.

Therefore, we expect the bearish bias to continue in …

The descendant truncated wave structure of the H4 level has finished with breaching the inclined channel. Awesome Oscillator indicates bullish divergence. The entry point is forming on the correction wave B.

Trade idea:

Buy when breaching 1.1335.

Stop loss below the support level 1.1288.

Target levels: 1.1420; 1.1480.

#DTE

The general trend is ascendant. History mirror level 15.42 has restrained sellers. The descendant truncated wave structure has finished with breaching the inclined channel. Awesome Oscillator indicates bullish divergence.

Trade idea:

Buy when breaching 16.33 level.

Stop loss is below the mirror level of 15.42.

Target levels: 17.18; 17.72.

News for today, Monday, January 24

After a volatile week, the market has frozen in wait for the Federal Reserve’s meeting again. One more Jerome Powell’s press conference and monetary policy updates will undoubtedly cause some more turmoil after Tuesday. However, until then… DOW J has lost 1,30%, NYSE composite …

Gold price rebounded upwards after testing the support floor 1830.00, to keep the bullish trend scenario valid and effective on the intraday term, organized within the bullish channel that appears on the image, waiting to visit the level of 1860.00 mainly.

The moving average 50 continues to support the suggested …

The British pound against the dollar is trading below the broken neckline of the double top pattern, to keep the negative pressure valid for the upcoming period, noting that the targets of the negative pattern cross 1.3530 to reach 1.3460 then 1.3400.

Therefore, the bearish trend will remain dominant over …

#JNJ

The general trend is ascendant. The descending wave structure is truncated. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions.

Trade idea:

Buy when the ascendant wave structure forms where the wave (A) breaches the inclined channel of the descending wave structure.

Stop loss below the local …

NZD index is traded along the support level of 67.10. The currency pair NZD/USD shows the descendant truncated wave structure of the H1 level testing the support level of 0.6701. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator shows oversold conditions.

Trade idea:

Buy on breaching 0.6728.

Stop loss below …

News for today, Friday, January 21

The World Bank has lent $750 million to South Africa to support economics in recovery from the pandemic. South Africa, the second economy on the continent, has been damaged hard by COVID. The virus has killed 94 000 people and raised unemployment to a …