Euro tests support as Ukraine crisis threatens economic growth

from Forex News https://www.investing.com/news/stock-market-news/euro-testing-support-as-ukraine-crisis-looms-over-growth-2775676
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Dollar Tree Q4 earnings outlook: Will the bulls remain at the top?

Dollar Tree (DLTR) is a Fortune 500 company which operates 15,115 stores throughout the United States and Canada and has a market capitalization of 31.96 billion dollars. Each store stocks a variety of products from different brands and the departments found in its outlets range from food and snacks, health and beauty products, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrapping, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books.

For 35 years Dollar Tree was adored for selling items strictly for $1, a price point favourable to low-cost retailers and suburban middle-income shoppers, but its decision in September to begin selling items at $1.25 and $1.50 especially after an activist investor took a stake in the company and pressed the chain to raise prices unsettled a lot of its loyal customers.

DLTR is expected to report fourth quarter earnings on March 2^nd before market open. The report will be for the fiscal Quarter ending Jan 2022. According to Zacks Investment Research, based on 11 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.79. The reported EPS for the same quarter last year was $2.13. Revenue, based on a survey of 22 analysts done by Yahoo Finance, is expected to be 7.12 billion. DLTR so far has had positive earnings revision activity and over the years this activity has proven to be a powerful indicator of positive surprise earnings nearly 70% of the time according to Zacks investment research.

The Price and EPS Surprise chart displays the company’s stock price along with the EPS surprise. EPS Surprise is the difference (expressed as a percentage) between the actual reported quarterly earnings per share (EPS) vs the estimated quarterly EPS. Source: Zachs Investment research.

In the fiscal third quarter of 2021, the company’s revenue was 6.42 billion dollars (+3.90% year/year) and the net income was 216 million dollars also in the same period, while the earnings per share stood at 0.96. It is important to note that Dollar Tree has never paid an annual dividend, but the total shareholder return for the past 12 months is 26%.

According to TipRanks the DLTR price forecast and target based on 11 Wall Street analysts offering 12-month price targets for Dollar Tree in the last 3 months puts the average price target at $167.10 with a high forecast of $181.00 and a low forecast of $147.00. The average price target represents a 17.61% change from the last price of $142.08. Overall, the stock has a strong Buy consensus rating based on 9 Buys, 2 Holds and 0 Sells.

https://edition.cnn.com/2022/01/14/business/dollar-tree-new-prices/index.html

DLTR price action has been in an overall uptrend on the daily timeframe chart trading well above the 200 simple moving average (blue), having come off a low of $83.64 printed on September 24^th last year and finding resistance at $149.14 on the 22^nd of November 2021 before the price consolidated in a 12 week bullish flag chart pattern and later broke out. Noticeable also is the fact that the 20 period MA (green) is about to cross above the 50 period MA (red).  The ADX reading below 25.00 indicates the uptrend seems to have lost some steam and this therefore confirms the Bull flag. It will be interesting to see whether the price will remain supported at $132.09 and $139.48, the upper trendline of the bull flag, or continue dropping, targeting $51.43. Resistance is at $149.34.

Click here to access our Economic Calendar

Dennis Mwenga

Market Analyst – HF Educational Office – Kenya

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distribution.

from HF Analysis /315617/
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Rouble weakens to record low, threatening Russian living standards

from Forex News https://www.investing.com/news/economy/rouble-weakens-further-threatening-russian-living-standards-2775429
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Isolated Russians scramble for hard currency, fear worse is yet to come

from Forex News https://www.investing.com/news/economy/isolated-russians-scramble-for-hard-currency-fear-worse-is-yet-to-come-2775220
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Daily Market Outlook, March 2, 2022

Daily Market Outlook, March 2, 2022 Overnight Headlines EU Agrees On Sanctions To Exclude Some Russian Banks From SWIFT World Bank Preparing $3 Billion Support Package For Ukraine US Officials: US To Ban Russian Flights From American Airspace Australia’s Economy Rebounds, Confronts Darkening Global Outlook Japan's Q4 Capex Growth Picks Up In Positive Sign For Economy US President Biden: ‘Top Priority’ Is Getting Prices Under Control RBC: UK Shop Prices Rise At Fastest Rate In Over Ten Years Rate-Hike Bets Are Unwinding And Taking Bond Yields With Them Euro Testing Support As Ukraine Crisis Looms Over Growth Oil Tops $110 As Russia Struggles To Maintain Energy Sales Asian Stocks Fall As Sanctions On Russia Hit Global Market SentimentThe Day Ahead When the yield on Germany's benchmark Bund, considered one of thea safest assets in the world, posts its biggest one-day fall since 2011 (as it did on Tuesday), something has changed. The slide in borrowing costs in Germany, with 10-year yields back in negative territory where they remain this morning, echoes similar moves in other major bond markets and is symptomatic of a big shift in investor thinking. ‘Risk off’ sentiment dominated markets yesterday and has continued to do so overnight. European and US markets fell sharply yesterday, and Asian markets are mostly down this morning. Oil and gas prices have surged with Brent crude touching above $111bbl. Government bond yields plummeted across several markets as traders scaled back their expectations for interest rate rises. Meanwhile, the US dollar is up sharply against the euro and sterling. In his annual State of the Union address, US President Biden said that Russian leader Putin “will pay a high price” for his actions towards Ukraine. However, much of his speech was about his plans to combat higher inflation as he attempted to lift his plummeting polling ratings. The Eurozone February CPI is forecast to show a further rise. Indeed, following stronger-than-expected reports for some member countries, analysts have raised forecasts and now expect annual headline inflation to be 5.8% (from 5.1% in January), a new high the single currency era. The European Central Bank, the ECB, continues to take some comfort from the fact that ‘core’ inflation is much closer to target. However, today’s reading is also likely to show a modest rise in that measure to 2.6% from 2.3%. With inflation everywhere else set to move even higher in the wake of the Ukrainian crisis, central banks have to weigh up whether they are more concerned about that or potential downside risks to economic growth. Comments so far since the crisis escalated have suggested that the European Central Bank may now be more cautious in changing their policy stance. However, the US Federal Reserve and the Bank of England seem to be indicating that they are still on course to make some near-term policy tightening moves. Fed Chair Powell will testify to Congressional committees today and tomorrow. This will be his last opportunity to signal the Fed’s intentions before the blackout period ahead of the March policy meeting. It seems likely that he will use the opportunity to confirm that a US rate hike is still on the cards for March and that further tightening moves are likely this year. However, he may also repeat previous comments that, in the present uncertain environment, the Fed needs to be ‘nimble’ and if necessary, change direction quickly. A couple of BoE policymakers are also scheduled to speak today including external Monetary Policy Committee member Tenreyro who typically seems to be the most dovish member of the rate-setting Committee. Meanwhile, the Bank of Canada will give its latest policy update. It is expected to hike rates by 0.25% despite recent events.G10 FX Options Expiries for 10AM New York Cut(Hedging effect can often draw spot toward strikes pre expiry if nearby (P) Puts (C) Calls ) USDJPY - 116.60 470m. 114.90/115.00 951m. 114.20/30 669m. EURUSD - 1.1370/80 699m. 1.1350/60 1.43bn (939m P). 1.1300/20 2.19bn (1.43bn P). 1.1100 435m. 1.1050/60 668m. GBPUSD - 1.3400 818m. 1.3270 603m. AUDUSD - 0.7370 692m. 0.7350 615m. 0.7130 590m. USDCAD - 1.2840 450m. 1.2770/80 538m. 1.2590 538m. 1.2560/70 777m. EURJPY - 129.20/30 799m. 127.70 702m. Technical & Trade ViewsEURUSD Bias: Bearish below 1.15 Bullish above Steadies after coming under pressure early EUR/USD opened -0.85% at 1.1124 after EUR fell against every major currency It is being negatively impacted by flows out of Europe due to Ukraine crisis EUR/USD eased to 1.1111 early Asia before finding buyers Heading into the afternoon it is unchanged around 1.1120/25 EUR/USD weighed down by heavy cross selling in EUR/JPY, EUR/CHF and EUR/AUD EUR/USD trending lower with the 5, 10 and 21-day MAs in a bearish alignment Only a break above the 10-day MA at 1.1255 would ease the pressure Support is at the 76.4 of the 1.0636/1.2349 move at 1.1040GBPUSD Bias: Bearish below 1.36 Bullish above. Sterling soft, as inflationary pressures build Steady in the middle of a tight but busy 1.3322-1.3338 range Brent up 5% to $110.00 in Asia, fanning the fames of inflation UK retailers raise prices by most since 2011 - BRC BoE stuck between a rock and a hard place on March 17th Charts; momentum studies, 5, 10 & 21 day moving averages head south Bearish setup targets 1.3166-75, Dec 2021 low and 38.2% 2020-2021 rise Close above 1.3457 50% February fall would end the downside bias Sterling vulnerable as oversold signals easeUSDJPY Bias: Bullish above 114.50 Bearish below USD/JPY through topside offers, to 115.18 into London USD/JPY up to 115.18 EBS in late Asia trade, into the London open Pair bid during most of Asia, up from 114.79 early, 114.70 in NY Demand into the Tokyo fix again and short-covering behind moves Despite lower US yields and risk off mood, Nikkei -1.7% to 26,393 Short-US rates firm on funding demand - tom/next, spot/next, week et al Talk circulating of good Japanese 'whale' bids towards 114.50 Tech support below including 114.44-58 daily Ichi cloud, 114.43 100-DMA Nearby option expiries now seen supportive, $1 bln between 114.85-115.03AUDUSD Bias: Bearish below 0.7250 Bullish above Session high as commodities soar in Asia AUD/USD opened -0.18% at 0.7252 but was resilient in risk off US session After trading at 0.7248 it tracked higher as key commodities soared Brent crude was up over 5.0% and Dalian iron ore popped over 4% higher AUD/USD moved up to 0.7265 when Aus GDP came in better than expected AUD/USD didn't react to the data, but maintained bid tone and traded 0.7283 Heading into the afternoon it is steady around 0.7275 AUD benefiting from flows out of Europe due to Ukraine crisis EUR/AUD is down over 5.5% since the start of February AUD/USD trending higher with major resistance at 200-day MA in sight Both the 200-day MA and the 61.8 of 0.7555/0.6867 come in around 0.7330 Support is at the 10-day MA at 0.7218 and break eases upward pressure

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-march-2-2022"
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Why we’re keeping RIT Capital Partners in our portfolio

One of the core components of the Moneyweek Investment Trust Portfolio is RIT Capital Partners (LSE: RCP). We hold it for its generally cautious approach and long-term record of capital preservation. 

There’s an update on the portfolio as a whole in this week’s Isa supplement in the magazine (RIT stays in it!) but we were pleased to see that RIT’s just released final results back up the case for continuing to hold it. 

It saw a total net asset value (NAV) return last year of 23.6% against 20% for the MSCI AC World Index – not bad given that the trust has relatively low overall equity exposure. This year hasn’t gone so well (for anyone). 

The shares are currently off 10% in the year to date and trading on an 8% discount to their NAV. However  the trust remains nicely defensive – only 35% in equities with hedges in place in the more expensive software stocks alongside a rising exposure to European value and to commodity sensitive positions, for example. 

The managers note that they expect 2022 to be a tricky year, but also that, while “volatility can often feel uncomfortable... the flipside is that if markets react indiscriminately this can also provide opportunities”. 

The analysts at Numis remain fans. They approve of the firm’s high level of exposure to unlisted investments (now well over 30% of the portfolio) and its careful approach to new positions. 

The result of this has been a long term NAV total return of 11.3% a year, something that is “significantly ahead” of global equity markets, as well a tendency to participate in most of the market upside (74% of the tie since launch in 1988) and not much of the downside (38%). 

It is an exceptional long term record – and the reason why it is staying in our portfolio, and staying as the “core long term recommendation in the Global Investment Companies sector” from Numis.

from Moneyweek RSS Feed https://moneyweek.com/investments/funds/investment-trusts/investment-trust-model-portfolio/604514/why-were-keeping-rit
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Factbox-China-Russia trade has surged as countries grow closer

from Forex News https://www.investing.com/news/forex-news/factboxchinarussia-trade-has-surged-as-countries-grow-closer-2774848
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ZS1! (Soybean) , H4 Awaiting Bullish Confirmation

Type: Bullish ContinuationKey Levels:Resistance: 1755'2 Pivot: 1632'4Support: 1578'2Preferred Case:On the H4 , price is near pivot level of 1632'4 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci projection. Price can potentially go to the swing high support of 1755'2 in line with 78.6% Fibonacci projection. Our bullish bias is supported by the Ichimoku cloud indicator Alternative Scenario: Alternatively, price may dip to the 1st support level of 157982 in line with 78.6% Fibonacci retracement. Fundamentals: No major news event

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/zs1-soybean-h4-awaiting-bullish-confirmation1"
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10 year T-note Futures ( ZB1! ) , H4 Potential For Bearish Dip

Type: Bearish DipKey Levels:Resistance: 157'08Pivot: 156'19Support: 154'13Preferred Case:Price is near pivot level which is also a key graphical overlap resistance. Price can potentially dip to the support level of 154'13 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci projection . Our bearish bias is supported by the stochastic level as it is at resistance level .Alternative Scenario:Price can break this key graphical overlap level and go to the 1st resistance level of 157'08 in line with 50% Fibonacci retracement .Fundamentals:With RUSSO-UKRAINE conflict escalating , Treasury prices may increase as investors look into safe haven assets. As fundamentals and technicals do not align, there is a risk on factor when looking in to ZB1! .

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/10-year-t-note-futures-zb1-h4-potential-for-bearish-dip"
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Daily Market Outlook, March 1, 2022

Daily Market Outlook, March 1, 2022 Overnight Headlines Russia, Ukraine Complete Peace Talks For Now, Will Hold Second Round Ukraine Is ‘Not Ready To Surrender Or Capitulate’ To Russia China’s Manufacturing Activity Beat Expectations, Expanded In February China Warns Of 'Huge' Pressure On Foreign Trade As Eco Challenges Mount BoJ Likely To Get Less Dovish Board With New Govt Nominees The RBA Highlights Ukraine War Risks To Outlook As Key Rate Held Australian PMI Manufacturing Returns To Expansion In February Australia's Q4 GDP Looking Even Stronger As Trade Surprises Sydney House Prices Fall But Home Loans For Investors At Record High Fed’s Bostic Says Half-Point Move Possible If Inflation Persists China Moves To Slow Yuan Gains After Rally To Highest Since 2018 BTC Breaks 43K As War Continues After Russia, Ukraine Hold Peace Talks Oil Keeps Rising Even As US Mulls Strategic Reserves Release EIA: US December Oil Demand Hits Highest Since Before Pandemic Iran's Foreign Ministry: Key Issues Still Unresolved In Nuclear Talks Canada PM Trudeau: Canada To Ban Imports Of Crude Oil From Russia Asia-Pacific Markets Mostly Gain As Investors Weigh Russia-UkraineThe Day Ahead Asian stocks regained some composure on Tuesday as the massive selling that rocked financial markets after Russia's invasion of Ukraine last week paused for breath, while surging crude prices supported oil exporters in the region. Global stock markets have tumbled in recent days following Russia's invasion of Ukraine and Western sanctions, which include cutting off some of Russia's banks from the SWIFT financial network and limiting Moscow's ability to deploy its $630 billion foreign reserves. High-level talks between Kyiv and Moscow on Monday ended with no agreement except to keep talking, but Asian markets stabilised on signs of no immediate escalation of sanctions. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.42% and Japan's Nikkei jumped 1.47%. The Russian rouble regained some footing after crashing to an all-time low, while the safe-haven dollar resumed its rise against major peers. Australia's S&P/ASX 200 index rose 0.92%, paring earlier gains. The country's central bank decided to keep the official cash rate at a record low.The Reserve Bank of Australia said "the war in Ukraine is a major source of uncertainty," and that it would maintain "highly supportive monetary conditions" while monitoring inflation. Key developments that should provide more direction to markets on Tuesday: Asia's factory activity grows but Ukraine crisis clouds outlook - Group of Seven finance ministers discuss the Ukraine crisis. - German Jan retail sales/prelim CPI/HICP -U.S. President Joe Biden delivers State of the Union address. - Fed speakers: Atlanta President Raphael Bostic - U.S. earnings: Baidu, Bank of Nova Scotia, Target, Autozone, Kohls, Wendy's, Man U, Domino’s, Salesforce, Nordstrom, Urban Outfitters, First SolarG10 FX Options Expiries for 10AM New York Cut(Hedging effect can often draw spot toward strikes pre expiry if nearby (P) Puts (C) Calls ) USDJPY - 115.70 539m. 115.10/30 669m. 114.70 507m. EURUSD - 1.1360 627m. 1.1340/50 797m. 1.1320/30 481m. 1.1270/80 842m. 1.1250/60 725m. 1.1200/20 1.20bn (1.09bn P). 1.1100/10 572m. 1.0970 581m. AUDUSD - 0.7210/20 489m. 0.7190/0.7200 710m. 0.7150/70 762m. 0.7120/30 481m. 0.7100/10 471m. EURJPY - 134.00 961m. EURSEK - 10.62 355m. USDMXN - 20.70 1.47bn (1.05bn P).Technical & Trade ViewsEURUSD Bias: Bearish below 1.15 Bullish above EUR/USD maintained a heavy tone in Asia after falling 0.46% Monday It opened 1.1219 and eased to 1.1193 at one stage as USD broadly firmed Heading into the afternoon session it is trading just below 1.1200 The 10-year US yield edged 3 BPs higher to 1.86% after falling 14 BPs Monday EUR easing against all majors as Russia sanctions poses risks for EZ growth EUR/USD support at last week's 1.1106 low with bids tipped ahead 0f 1.1100 A break below 1.1100 targets the 76.4 0f 1.10636/1.2349 move at 1.1040 Resistance is at the 10-day MA at 1.1290 and break would ease pressureGBPUSD Bias: Bearish below 1.36 Bullish above. GBP/USD respects Friday's high after vaulting Monday's top Cable met headwind at 1.3437 after breaking above 1.3431 (Monday's high) 1.3437 was Friday's peak, and high since Thursday's 1.3273 two-month low Thursday's low was plumbed on Russia's invasion of Ukraine 1.3537-1.3620 was last Wednesday's range (day before the invasion) Monday's low was 1.3310, after safe-haven USD jumped on weekend SWIFT newsUSDJPY Bias: Bullish above 114.50 Bearish below USD/JPY eases back towards 115.00 into European open USD/JPY easing back since moving up to 115.29 EBS into the Tokyo fix Low so far in Asia PM trading 115.02, low late NY yesterday 114.87 Japanese still likely better buyers sub-115.00 despite Tokyo shutting down Good tech support from 114.87 55-DMA, Ichi cloud 114.44-58, 100-DMA 114.42 Option expiries between 115.10-30 ($669 mln) contained action for a time Some below today too, $507 mln at 114.70 strike Soggy US yields helped cap upside today, Treasury 10s @1.857% Tokyo risk-on, TSE closes +1.2% at 26,844.72, E-Minis around par @4393AUDUSD Bias: Bearish below 0.7250 Bullish above AUD/USD teases another leg higher with 200 DMA on horizon AUD/USD recoiled early Tues but is back at Mon close 0.7265 May seek 200 DMA 0.7330 if it crosses 50% line 0.7275 Australia stocks +0.9% as investors cheer RBA holding rates As-expected decision taken in context of Ukraine... But external risk sentiment still shaky; S&P futures flat Escalating sanctions against Russia fail to deter

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/daily-market-outlook-march-1-2022"
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Nasdaq futures (NQ1!), H4 Bearish Reversal

Type: Bearish ReversalKey Levels:Resistance: 15059.50 Pivot: 14645.75Support: 13762.50Preferred Case:Price is trading in a descending channel and near pivot level of 14645.75 in line with 78.6% Fibonacci retracement. Price can potentially dip to the take profit level of 13762.50 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bearish bias is supported by the stochastic indicator as it is near resistance level.Alternative Scenario:Price potentially have a break out from the descending channel and go to the graphical swing high resistance of 15059.50Fundamentals:With the removal of Russia from the swift banking system, it is unsure what ramifications US economy will face with increased sanctions against one of the major economies in the world. Under increase pressure, NASDAQ may continue its downwards spiral.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/nasdaq-futures-nq1-h4-bearish-reversal"
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GBPJPY, H4 | Potential for Bearish dip

Type: Bearish ReversalKey Levels:Resistance: 155.869Pivot: 155.404Support: 153.971Preferred Case:Prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our Pivot at 155.404 which is an area of Fibonacci confluences towards our 1st support at 153.971 in line with 61.8% Fibonacci retracement. Our bearish bias is further supported by prices trading below our Ichimoku cloud resistance and also RSI depicting bearish momentum.Alternative Scenario:Alternatively, prices may climb towards our 1st resistance at 155.869 in line with 127.2% Fibonacci extension.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/gbpjpy-h4-or-potential-for-bearish-dip"
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Market Update – March 1 – Calmer Markets for now

Risk Off mood cools, at least for now, with stock markets mixed, the USD, Commodities and Treasuries hold their bid. More Western companies pull investments from Russia, Visa & Mastercard block financial transactions, Monaco and London block more accounts. Oil futures rally again, Gold holds up and Yields remain pressured. Overnight Asian markets move  JPY Manu. PMI miss, CNY PMI’s beat (51.6 vs 50.6). RBA keeps interest rates unchanged amid new uncertainty. Ukraine applies for EU membership as a 65km convoy of Russian armour heads towards Kyiv.

February Review– The S&P500 fell -3.1%, DJIA30 lost -3.5%, & the NASDAQ shed -3.4%.  Year to date the S&P500 is down -8.2% with january & February being the biggest two-month drop since march 2020 and the onset of the pandemic.

• USD (USDIndex 96.65). Traded below 97.00 most of yesterday. 96.50 next support. 
• US Yields 10-yr lower again closed at 1.839 Monday, ticks up 3 ticks to 1.86% now. 
• Equities – USA500 -10.70pts (-0.24%) 4373.  (TSLA +7.48%, Zoom +5.81%, BP -4.95%, Total -7.62%)  US500 FUTS recovering to 4386 now.  
• USOil – Support at $93.00, yesterday and back to  $95.00 now.  
• Gold – Holds over psychological $1900 now, and trades at $1908.     
• Bitcoin rallied over key 40 & 42K levels to trade at $43,400. 
• FX markets – EURUSD back to 1.1225, from 1.1125 lows yesterday, USDJPY holds 115.00 and Cable recovers 1.3400 to trade at 1.3420 now.    

European Open – The March 10-year Bund future is up 37 ticks at 167.41, outperforming versus Treasuries, which are down on the day. Europe’s geographical proximity to the Ukraine and the reliance on Russian oil and gas has left European markets more vulnerable to the fallout from the Ukraine war with DAX and FTSE 100 futures down -0.4%. Developments in Ukraine will continue to overshadow the markets going forward.

Today – EU, UK & US Final PMIs, German CPI & Retail Sales, US ISM Manufacturing PMI & Construction Spending, Speeches from Fed’s Bostic & Mester, ECB’s Lagarde, BoE’s Saunders & President Biden’s State of the Union Address. Earnings Target, AMC, HP & Salesforce.

Biggest FX Mover @ (07:30 GMT) AUDJPY (+0.33%) The cooling of the risk off mood and RBA helps the pair recover. A breach of 83.00 lower earlier to 83.75 now.  MAs  aligned higher, MACD signal line & histogram above 0 line, RSI 65.80 & rising, OB zone, H1 ATR 0.139, Daily ATR 0.9450.

Click here to access our Economic Calendar

Stuart Cowell

Head Market Analyst

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distribution.

from HF Analysis /315432/
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USDJPY, H4 | Bullish Bounce

Type: Bullish BounceKey Levels:Resistance: 115.587Pivot: 115.11 Support: 114.941Preferred Case:Prices have reacted off our pivot at 115.11 in line with 78.6% Fibonacci extension and 50% Fibonacci retracement and have the potential to climb towards our 1st resistance at 115.587 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by prices trading above our Ichimoku clouds and also RSI being on bullish momentum.Alternative Scenario:Alternatively, prices may dip towards our 1st support at 114.941 in line with 100% Fibonacci extension.

from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdjpy-h4-or-bullish-bounce1"
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