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Visualising victory for Ukraine and oil prices

Mark O'Donnellon 21/09/2022

Back in February, when Russia launched its invasion of Ukraine, a victory for Kyiv would have been almost impossible to imagine. It’s the classic David and Goliath. Recent developments on the battlefront, however, are starting to paint a different picture, showing the possibility of Ukraine ending the conflict with a win. On paper, the war […]

Dow Jones Technical Analysis ahead of FOMC

Mark O'Donnellon 19/09/2022

The US headline CPI data released last week surprised the market with a smaller drop than expected. As such, a higher chance is being given to a 75-basis-points rate hike in the upcoming September FOMC meeting. The US stock market reacted with a major sell-off last week, signalling that the summer rally has overstayed its […]

700 pip downside move in gold

Mark O'Donnellon 19/09/2022

One of the largest moves caused by the unexpected US inflation data has been in gold. Gold has finally broken through the monumentally important support level of $1,680 and has pushed all the way down to ~$1,660/oz. Gold achieved this huge break to the downside in one four-hour period. Before this, gold was already feeling […]

ANALYSIS ON EURCAD

Mark O'Donnellon 08/09/2022

For the last couple of months, EUR has maintained a prominent position in the currency weakness log. The uncertainties and high energy costs arising from the Russian invasion of Ukraine have contributed significantly to the loss in weight of the euro as a currency. As we expect the ECB rate hike in the coming days, […]

UK electing new leader; how will this affect the GBP?

Mark O'Donnellon 01/09/2022

As the UK will announce a new Prime Minister on September 5th, we might expect heightened volatility in the GBP in the days before and after the election result. Moreover, the new policymaker has the potential to change the long-term trend of the pound, with the potential reforms conducted impacting the UK economy. Only a […]

How will TWTR’s price react to court saga?

Mark O'Donnellon 31/08/2022

Twitter Inc. (NYSE: TWTR) is on track to closing August on the red as billionaire Elon Musk finds new reasons to back out of his $44 billion deal to take over the social media company. The company closed Aug. 30 just below $40.00. Over the last 30 days, the company peaked at $44.99, much lower […]

What stocks have ETH on their books ahead of The Merge?

Mark O'Donnellon 30/08/2022

Ethereum’s long-awaited “Merge” is expected to occur around Sept. 15, and is heralding fresh interest for the platform as it transitions to proof of stake from proof of work. The Merge is considered as the most significant upgrade in Ethereum’s history that is expected to reduce the platform’s energy consumption by 99.95%. Considering the benefits […]

Pound and gold head lower before NFP data

Mark O'Donnellon 29/08/2022

Last month’s Non Farm Payrolls (NFP) data showed the US economy added 530K jobs in June. The number of jobs caught many off-guard as it was more than double what the market was expecting. July’s NFP report, which will be released this Friday, September 2, is forecast to deliver 300K jobs. Will the NFP beat […]

How long will EUR/USD parity last?

Mark O'Donnellon 25/08/2022

After the EURUSD reached and broke below parity, an analysis of the situation is in order. Last week, the euro failed to close above 1.0320 and the 50-Day Moving Average, presenting a potential bull trap and setting up the opportunity for short sellers, as illustrated by the orange circle. EUR/USD 1D, with 50-100-200 Day Moving […]

Why is short interest in Best Buy less than its peers?

Mark O'Donnellon 23/08/2022

What is the short interest in consumer electronics retailer Best Buy (NYSE: BBY) ahead of its second-quarter financial results on August 30? On the last trading day, Best Buy had roughly 12 million shares in short interest, reflecting 5.97% of its outstanding shares. By midday Aug. 19, 5.5 million Best Buy shares are available to […]

Japanese Yen pairs moving in opposite directions

Mark O'Donnellon 22/08/2022

Beginning mid-July, the USD/JPY began its downward trajectory, dropping to 130.39, a strong support level, after creating a high of 139.38. After which, some choppy price action in the first half of August has heavily disguised trader sentiment and a clear direction in the pair. Now the choppiness may be clearing. The USD/JPY recovered some […]

What peak Canadian CPI means for the CAD?

Mark O'Donnellon 19/08/2022

Canada may now be over the peak inflation hump. The Canadian Inflation Rate has dipped to 7.6% in July from 8.1% in June. The main culprit for the fall in inflation is the decline in gas prices, which has helped negate food prices, which continue to rise (up by 10% from a year ago). The […]

Can the RBNZ push the NZD/USD close to 0.6500?

Mark O'Donnellon 17/08/2022

The RBNZ’s impending rate hike may work in the favour of the Kiwi dollar and may reignite its previous week’s bullishness However, the Kiwi dollar might be staying relatively neutral in respect to local fundamental data The NZD/USD has been on a bullish trend against the US dollar since August 14, 2022. Unfortunately, the pair […]

Stocks to watch as ASX reporting season continues

Mark O'Donnellon 16/08/2022

Reporting season continues in Australia, with some more big names scheduled to provide financial performance updates over the remaining days of August. Among Australian stocks, players in the resources and energy industries are still generating attention as fluctuations in the prices of oil and commodities persist. Analysts believe that Australia is in an ideal position […]

BHP Group to explore new territory of $53 per share?

Mark O'Donnellon 16/08/2022

This week is one of the busiest for the Australian Securities Exchange, with many of its biggest names delivering their respective earning reports. Among those reporting is the country’s largest mining company, BHP Group (ASX: BHP). BHP are expected to deliver their FY2022 results on 16 August 2022. In addition to BHP’s results, the miner […]

Trading GBP in the lead up to UK GDP Data

Mark O'Donnellon 12/08/2022

Great Britian’s GDP Growth Rate data for June 2022 is released in a few hours’ time. The British economy expanded 0.5% MoM in May, unexpectedly beating forecasts for a neutral month of growth. May’s reading stood in stark contrast in April’s –0.2%, March’s +0.1%, and February’s 0.0% readings. The market forecast for June has the […]

Relief pumps still in play for XAU/USD

Mark O'Donnellon 11/08/2022

On the weekly chart, we can see that Gold has made a four-week push from lows of $1,680/oz to its current trading price close to $1,790/oz. However, sentiment may be slightly bearish for Gold at the moment with many indicators pointing to the price falling. For one, there is a bearish indicator on the monthly […]

BlackRock’s crypto deal helps COIN shares ahead of Q2 results

Mark O'Donnellon 10/08/2022

Coinbase’s shares breached a nine-week high and peaked at $101.18 in the first week of August following the announcement of its partnership with the world’s largest asset manager, BlackRock. Shares of the cryptocurrency exchange platform operator had been on the rise and reached the nine-week high of $80.81 when the market closed Aug. 3. The […]

How did the market react after July’s Non-Farm Payrolls?

Mark O'Donnellon 09/08/2022

The Non-Farm Payrolls (NFP) for July 2022 surprised many as it reported that the US economy added 528,000 jobs, more than twice the consensus forecast. Total NFP employment has now returned to the pre-pandemic level, when 20 million jobs were lost. At the same time, the US Unemployment Rate decreased to 3.5%, the lowest rate […]

Is the EUR/CHF overbought or oversold?

Mark O'Donnellon 04/08/2022

The EUR/CHF pair is currently in between the key levels around 0.97000–0.97900. We might see a bounce from here up to the next resistance of 0.99500 and even up to the 1.00500 level, in confluence with the 50 MA. However, the overall trend for the EUR/CHF is seemingly bearish, and we could potentially see a […]