China will add 11 new currencies to CFETS RMB Index on 01 January 2017; expands the RMB Index from a basket of 13 currencies to 24 currencies. The CFETS Index is a guidance for market participants to look at Renminbi against a basket of currencies instead of focusing on USDCNY exchange rate only.
A look at shitty wide forex spreads on 3 forex brokers on the day after Christmas. A reminder to all aspiring forex traders why there are times one should not trade and be better off doing something else.
5 features that make a bearish reversal in this EURJPY example. Explained also are 4 different entry levels for traders who demand different levels of risk/ different confirmation.
Weekly chart analysis of Tesla (TSLA) and Thai Beverage (Y92.SG); some observations of BABA, ABX, USDJPY and XAUUSD.
Observations of USD strength on crude oil, cad, thoughts on possibility of future Fed rate hike. Also, discussion on selling climax spotted in Starhub.
Last week’s shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Media stories blame one culprit: the November 30 OPEC agreement to cut production. The weeks leading up to the meeting were filled with anticipation and emotion. Oil prices went all over the place — down 4% one day, 3% the next. Yet, those fluctuations weren’t random.
Both XLK and NAS100 have broken ‘left shoulder’ which means that both bearish reversal patterns are back in play. NAS100 still resembles a ‘Head and Shoulders pattern’ though XLK is more like ‘Broadening Top’.