China Manufacturing Activity Contracts Hits 3-Year Low
China’s manufacturing activity contracted for the sixth straight month in January, signalling persistent weakness, official data showed on Monday.
PMI
EURUSD Long-Term Selloff Oct 23, 2015
EURUSD had been trading inside an ascending triangle chart pattern since the start of the year, as price formed higher lows and found resistance near the 1.1500 major psychological level.
China Manufacturing Activity Contracts In August
China’s factory activity continued to lose steam in August, suggesting the world’s second largest economy faces prolonged downward pressure, official data showed Tuesday.
NZDUSD Descending Triangle Aug 24, 2015
NZDUSD is forming a descending triangle on its 4-hour time frame, making lower highs and finding support around the .6500 major psychological level. Price just got rejected on its latest test of the triangle resistance and is making its way back towards the bottom of the triangle.
EURUSD Correction Setup July 22, 2015
After selling off in the past few days, EURUSD is making a correction to the 38.2% Fibonacci retracement level. This coincides with a broken support level around the 1.0950 minor psychological level and the 200 SMA resistance, which could allow the downtrend to resume.
GBPUSD Trend Line July 2, 2015
GBPUSD is currently testing the rising trend line connecting the recent lows of price action on the 4-hour time frame. The pair is also drawing support at the 50% Fibonacci retracement level and the 100 SMA.
EURUSD Wedge Breakdown June 23, 2015
EURUSD has been consolidating inside a rising wedge pattern for the past few weeks and is recently showing signs of a breakdown. Price is trading below the 1.1300 handle and may be in for around 200 pips more in losses, which is the same height as the chart pattern.
Brent Continues To Tumble As Economic Data Fails To Support Global Recovery
Brent crude oil (BNO, quote) dipped below $70 on to start the week as the commodity continued to free-fall following OPEC’s decision not to implement a cut. The commodity traded at $68.60 at 8:30 GMT on Monday morning as investors looked to economic data for any indication that the global economy could pick up.
OPEC Could Cut Next Week
Brent crude oil (BNO, quote) was steady above $78 on Thursday as markets prepared for a busy day of economic releases. The commodity traded at $78.06 at 7:45 GMT as investors kept their focus on OPEC’s upcoming meeting and whether or not the cartel would cut output.
EURUSD Rising Trend Channel – Nov 20, 2014
EURUSD is moving inside a rising channel on its 1-hour forex chart, with price just finding resistance at the top of the range. Stochastic is moving lower, indicating that sellers are in control of price action for now. MACD is also heading down, which confirms the bearish momentum.