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  • Finance 0

    GBPUSD Weakens On Loses Upside Momentum

    GBPUSD: Having failed to sustain its intra day gains to close flat on Thursday and followed through lower during early Friday trading, further bearishness is envisaged. Support lies at the 1.4500 level where a break will turn attention to the 1.4450 level. Further down, support lies at the 1.4400 level. Below here will set the stage for more weakness towards the 1.4350 level. Resistance stands at the 1.4600 levels with a turn above here allowing more strength to build up towards the 1.4650 level. Further out, resistance resides at the 1.4700 level followed by the 1.4750 level. Its daily RSI is bearish and pointing lower suggesting further wea...
    On February 5, 2016 / By
  • Finance 0

    EUR/USD: Market Lying In Wait For NFP

    Yesterday’s Trading: The euro was up against the dollar on Thursday, having past 1.1200. The BoE and weak US stats had a positive effect on the price of the euro. The Bank of England decided to leave things unchanged with interest rates at 0.5% and asset purchasing at £375 billion. The voting for the interest rate to remain unchanged, changing from 8 for to 9 for. It was this change that changed the fate of the euro. The euro/pound cross’ effect lasted until Carney spoke. The Bank governor surprised everyone by saying that the next interest rate change is likely to be an increase. The pound won back its losses against the dollar and upda...
    On February 5, 2016 / By
  • Finance 0

    BlackRock’s Letter Leaves Little Accountability

    Video Length: 00:03:26 Turns out Larry Fink, the CEO of BlackRock (BLK – Analyst Report), sent a letter to the chief executives of every other S&P 500 company, asking them to do away with short-term guidance. Among several gems in the letter were quotes like “Today’s culture of quarterly earnings hysteria is totally contrary to the long-term approach we need.” I bet you wish you came up with that line while you were in high school. “Mom, we need to take a long-term approach here. Pay no attention to that D in English.” Then a jab at Congress “In Washington, long-term is often defined as simply the next election cycle,...
    On February 5, 2016 / By
  • Finance 0

    WTI Crude Oil And Natural Gas – February 5, 2016

    WTI Crude Oil The WTI Crude Oil market tried to rally during the course of the day on Thursday but found far too much in the way of resistance above at the $38 level. By doing so, we ended up forming a shooting star which of course is the most negative candle that you can form as far as technical analysis is concerned. I believe that if we break down below the bottom of this shooting star, the market should very well find itself heading towards the $35 level, and quite frankly I believe that since we can trade this commodity at the moment, to the downside. Even if you break above the top of the shooting star, you still have to deal with quite...
    On February 5, 2016 / By
  • Finance 0

    Incrementum Advisory Board Meeting Q1

    A Comprehensive Discussion of the Economy and Financial Markets The Incrementum Fund’s advisory board has held its quarterly meeting on January 10, and the transcript has just become available. Readers can download the transcript via the link below this post. Unfortunately two board members (Dr. Frank Shostak and Rahim Taghizadegan) were unable to attend this time. We hope that you will nevertheless find the board’s discussion of a wide range of topics relevant to today’s financial markets interesting. Gold rises to an all time high against commodities – a strong sign that economic confidence is waning We would especially point to the...
    On February 5, 2016 / By
  • Finance 0

    EU Session Bullet Report – The Calm Before The Storm

    EUR/USD Intraday: further advance. Pivot: 1.1115 Most likely scenario: long positions above 1.1115 with targets @ 1.124 & 1.131 in extension. Alternative scenario: below 1.1115 look for further downside with 1.107 & 1.1 as targets. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. Gold spot Intraday: the upside prevails. Pivot: 1147.5 Most likely scenario: long positions above 1147.5 with targets @ 1160 & 1166 in extension. Alternative scenario: below 1147.5 look for further downside with 1141 & 1136.6 as targets. Comment: even though a continuation of the consolidation...
    On February 5, 2016 / By
  • Finance 0

    EUR/USD: Inverted H&S, GBP/USD: Multi-Year Channel

    The recent big moves in Forex markets created opportunities and interesting patterns on the charts. Here are the views from SocGen: Here is their view, courtesy of eFXnews: EUR/USD retested last March levels (1.0570/1.05) and also the multi decadal channel back in November after which it has embarked on a recovery. This week it has confirmed an inverted H&S and in the process it has also crossed above multi month weekly channel resistance (1.1060/1.10). With the weekly indicator breaking a descending trend, the pair appears to extend the phase of rebound. Currently it is approaching 1.1270, with potential for the inverted H&S. A tes...
    On February 5, 2016 / By
  • Finance 0

    Hyperinflating Venezuela Used 36 Boeing 747 Cargo Planes To Deliver Its Worthless Bank Notes

    The weeks ago, when we showed “What The Death Of A Nation Looks Like: Venezuela Prepares For 720% Hyperinflation”, we said that after looking at a chart of Venezuela’s upcoming hyperinflation… …a hyperinflation in which the soaring stock market has failed to keep pace with the collapsing currency, thereby mocking all erroneous thought experiments that under hyperinflation being long the stock market is a sure hedge to currency destruction… … we joked that it is unclear just where the country will find all the paper banknotes it needs for all its new currency. After all, central-bank data shows Venezue...
    On February 5, 2016 / By
  • Finance 0

    22 Signs That The Global Economic Turmoil We Have Seen So Far In 2016 Is Just The Beginning

    As bad as the month of January was for the global economy, the truth is that the rest of 2016 promises to be much worse.  Layoffs are increasing at a pace that we haven’t seen since the last recession, major retailers are shutting down hundreds of locations, corporate profit margins are plunging, global trade is slowing down dramatically, and several major European banks are in the process of completely imploding.  I am about to share some numbers with you that are truly eye-popping.  Each one by itself would be reason for concern, but when you put all of the pieces together it creates a picture that is hard to deny.  The global economy...
    On February 5, 2016 / By
  • Finance 0

    Germany To Enforce A €5,000 Limit On Cash Transactions

    The German people do not have to worry about their taxes rising because of the Greeks; the refugees are whom they should worry about. Now the German government is joining the rest of the crowd and preparing to move electronic. They will look at introducing a limit of €5,000 euros on any cash transaction to combat money laundering and financing terrorism. For thousands of years, no such limits on cash ever existed. The definition of money laundering is now simply hiding money from the government that they want. Deputy Finance Minister, Michael Meister, said “the risk of terror financing and…the problem of how to clear up money-laun...
    On February 5, 2016 / By