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Article / 17 minutes agoThe Saxo Trade Navigator provides you with daily technical insight into almost 200 instruments ranging from FX to equities, commodities and bonds.Read the article
Article / 18 minutes ago
Saxo equity pair trades: Calm before the storm, or just calm?Another quiet day amongst the pair trade candidates, especially the top-three pairs led by American Express/Charles Schwab saw very little activity.Read the article
Squawk / 34 minutes agoAfter yesterday's rally the Euro Stoxx 50 is right back at key multi-month resistance. It's make or break time, but considering the quick bullish reversal from last week, chances favor an eventual break to new highs sooner rather than later. 3,200 is the next upside target. Read my European stocks update from yesterday morning here: https://www.tradingfloor.com/posts/european-stocks-positive-bounce-for-the-bulls-369203
Squawk / 46 minutes agoEuroSTOXX 50 Future ($FESX_F) Re-energizes Bull Theme; Targets 3175/85
European benchmark average bullish shift through 3134
• We stated in our last client report that “the bias into Tuesday and midweek is for a push up to challenge 3134, with a break here becoming more likely” and the push above here highlights a shift to a more bullish tone again.
• Above 3134 now aims up to modest resistance at 3148, but with real risk this week back to challenge the 3175 cycle high and key long-term retrace target at 3185.
• Overshoot risk, more likely into May, will be to 3200 and then Fibo targets at 3219 and 3233.
• The 8-day RSI is positive, but not OB, leaving scope to go still higher this week
• WHAT CHANGES THIS?
• Below 3098 eases bull risks; through 3054 signals a neutral tone, only shifting negative below 3007
Please see full report with levels and latest audio-visual analysis here: http://members.marketchartist.com/Daily/eurostoxx.pdf
Daily Adjusted Continuation and Weekly charts
Article / 1 hour ago
Market Preview: European PMIs, earnings in spotlightEuropean markets are expected to open mixed on Wednesday. Market participants are likely to eye the preliminary manufacturing and services activity data to be released across the Eurozone. Additionally, a slew of corporate earnings reports will keep traders on the edge.Read the article
Editor’s Picks / 1 hour ago
E-trading pulls gold into forex units as commodity desks shrinkReutersThe increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities.Read article on Reuters Go to post
Barclays on Tuesday followed similar moves by rivals Deutsche Bank, UBS, JPMorgan Chase & Co and Morgan Stanley by announcing that it would keep its gold trading business while hiving off most of its global commodities operations.
The consolidation of interbank gold dealing and foreign exchange trading on electronic platforms is making it increasingly easy for forex traders to execute precious metals deals, allowing banks to ease cost pressures by moving the asset classes into a single business unit.
Article / 1 hour ago
3 Numbers To Watch: Eurozone PMIs, US PMI and new home salesToday’s key numbers to watch include flash April PMI data for the Eurozone and the US, along with the monthly report on new home sales in the US for March.Read the article
Squawk / Yesterday at 20:04 GMT$SPX: Follow up of the Double ZZ count
Article / Yesterday at 16:57 GMT
Market Review: M&A activity and strong macro data lift sentimentEuropean markets closed higher and the US markets are trading in positive territory as investor sentiment received a boost following fresh M&A activity in the pharmaceutical sector and after data indicated an increase in Eurozone consumer confidence and a rise in US house price indices.Read the article
Article / Yesterday at 16:01 GMT
How to trade Facebook after Wednesday's earnings reportFacebook is once again on everyone's radar as it prepares to report its first quarter earnings on Wednesday after the close of trading in New York. Here is my plan on trading the stock once the earnings are out and initial emotions have settled.Read the article