Month: May 2020

Scandinavian Capital Markets

EURUSD – Employing the Concept of Symmetry in Channel Analysis

Scandinavian Capital Markets is pleased to present a video format of Trading Analysis to empower traders and equip them with the latest updates and first-hand knowledge from leading market experts.

Scandinavian Capital Markets

Market Update – May 29

Be aware of 3136 in SPX as a possible pivot. The level is defined by the 78.6% retrace of the decline,March high, and the line that crosses highs in 2018 and 2019. This line was support in December. Price has responded to Fibonacci retracements (23.6%, 38.2%, and 61.8%) during the advance which increases confidence that ‘something’ happens at the next Fibonacci retracement.

Scandinavian Capital Markets

Sterling Traders Brace for Volatile Month Ahead

The British Pound weakened against its major rivals on Wednesday amid reports that Brexit talks are stalling and as the specter of a ‘no-deal’ Brexit reared its head again.

Scandinavian Capital Markets

GBPUSD Entry Techniques Explained in Real Time

Scand.Ex is pleased to present the next video with trading analysis by Jamie Saettele, our Chief Technical Analyst.

Scandinavian Capital Markets

Market Update – May 28

GBPUSD erased most of yesterday’s rally but I remain constructive. In fact, price found support near the short term trendline that originates at the 5/18 low. I want to see strength above 1.2300 (blue line) before committing capital to the upside again though. In general, this level has been support and resistance for a little over a month.

Scandinavian Capital Markets

Market Update – May 27

USDOLLAR found resistance at the cited level (recovery high was 12536) and broke down today. Individual USD crosses nailed their supports as well (see levels noted below from last week). My wave count interpretation is that weakness from the 5/18 high is either a 3rd or C wave so downside potential is significant in the coming weeks and months.

Scandinavian Capital Markets

Risk Assets Rally Amid Pandemic Recovery Optimism

Risk sensitive currencies such as the Australian dollar, New Zealand dollar and Canadian dollar gained ground in early Tuesday trading as hopes grew over global economic recovery from the fallout of the COVID-19 pandemic. Positive coronavirus vaccine news and indications that global economies are slowly reopening helped to buoy investor mood.

Scandinavian Capital Markets

Market Update – May 22

Nasdaq futures and QQQ (weekly QQQ is below) covered their closes from 2/21 on Wednesday and closed beneath those levels today. Mistrust of strength has been misguided but the gap fill and down day today at least presents a bearish risk point (Wednesday’s high).

Scandinavian Capital Markets

As Crude Finds its Footing, Traders Eye Descending Triangle in USD/CAD

USD/CAD fell to trendline support on Wednesday, as the Canadian dollar was boosted by rising crude oil prices and hopes of a global economic recovery. Equities, crude oil and the risk sensitive Australian dollar also benefited from rising investor confidence.

Scandinavian Capital Markets

Market Update – May 21

It ‘feels’ like the USD is on the verge of breaking down. That said, USDOLLAR is back into important support (line off of 2011 and 2014 lows and a major horizontal level…see weekly chart below). Support is support until broken so respect bounce potential with resistance near 12520.