Month: September 2020

Scandinavian Capital Markets

Market Update: September 30

Gold traded into proposed resistance at 1908 today and immediately pulled back. I am of the view that price resumes lower from the current level towards the lower parallel near 1750. Failure to stay below today’s low would risk strength into the upper parallel of the bearish channel near 1940.

Scandinavian Capital Markets

Market Update: September 29

We looked at DXY yesterday, remember that the neckline is 93.50 and proposed support for that index. USDOLLAR is nearly identical with the neckline near 12040. I’m in the re-test of the breakout level (neckline) and then higher for the USD.

Scandinavian Capital Markets

Market Update: September 28

Silver broke the trendline from the March low last week and is bouncing from short term oversold conditions. It would be quite a bounce but the underside of the noted trendline intersects the well-defined 26.10/28 zone late this week.

Scandinavian Capital Markets

Is Gold a Bubble and Will it Burst?

To determine if gold is a bubble, we need to understand the demand for gold, what an asset bubble is and the current renewed interest in gold.

Scandinavian Capital Markets

White Label Forex Platforms for Hedge Funds

Many asset managers and proprietary trading firms seeking Forex platforms for hedge funds overlook the option of using a white label retail FX platform.

Scandinavian Capital Markets

Market Update – September 23

The Dow completed the short term head and shoulders top so focus is on the mentioned 25853 (then reassess). The bounce over the last 2 days should see resistance from the breakdown level near 27500.

Scandinavian Capital Markets

Market Update: September 22

USDOLLAR finally broke above the upper parallel from the Schiff fork off of the March high. The top side of this line should now provide support near 12010. The next upside level of interest is the March low at 12129. This level intersects corrective channel resistance on Wednesday.

Scandinavian Capital Markets

Market Update – September 21

The Dow is testing critical support from the June high. This level has been support since 8/20. A break below would complete a head and shoulders top that’s been forming since early June. The measured objective would be 25853.

Scandinavian Capital Markets

Market Update – September 18

USDOLLAR failed yet again at the upper parallel from the Schiff fork off of the March high. Pay attention to 11940, which is 2 legs down from the 9/10 high and the 61.8% retrace of the rally from the 9/1 low, for support. This is also near the 8/19 low and top side of the line that crosses highs in August (magenta line).

Scandinavian Capital Markets

Dollar Lifted After Fed Signals No Rate Hikes for Years

The US dollar advanced against major currencies in early trading on Thursday. A positive economic outlook from the Federal Reserve and a shift to tolerating higher inflation boosted Treasury yields, in turn supporting the greenback.