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ON THE AIR with Benzinga #PreMarket Prep Show

I got to open up the new trading month of February with the guys at Benzinga, just after the release of the US jobs report. The headline number smashed market expectations with the U.S. economy adding 304,000 jobs in the month of January. However, the more interesting number is the decrease in hourly earnings, which is a key indicator of inflation for the Federal Reserve. It makes us wonder if the Fed is trying to get ahead of deflation with its surprise shift in monetary policy just days earlier.

We also discussed the Brexit, monetary policy and what this all could mean for the euro! (Yes, of course, we talked about the GBP too ??) Watch the full interview below!

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ON THE AIR with Futures with Ben Lichtenstein

I closed out January back on the air live on TD Ameritrade Network’s show, Futures with Ben Lichtenstein. During my segment, I covered the surprise delivered by the Federal Reserve this week as they announced that they would not only shift away from gradual interest rate increases but that they would also maintain their balance sheet. This is a stark contrast from increasing rates AND unwinding quantitative easing. So on the show, we dissected the markets’ reaction to this news.

We also discussed Brexit, of course, and how Parliament is more to blame than Prime Minister Theresa May. What does all this mean for the USD and the GBP? Click to watch the segment below.

Lydia Idem on TD Ameritrade Network
Click to watch!
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Netflix Retesting Resistance

Netflix share price attained all time high in June 2018 with a profit gain of over 100% for all of 2018. After this height, a fall in share price began from 422.77 to 232.78. About 45% fall in price turned the stock bearish in the 2nd half of 2018. Bulls have been more active in 2019 with $NFLX gaining about 100 points. On the third trading day of the year, price had already moved up to the upper section of the Bollinger bands.


Price of $NFLX has since retested support level before the bounce; price is currently around the resistance level. A breakout of the trendlines to the downside has occurred making $NFLX to drop in share price. The drop might continue if more sellers get into the market. However, the candlesticks are yet to cross to the lower section of the bands indicating price is still in the buying region. Ichimoku is yet to change direction from its bullish side to being bearish. Nevertheless, RSI has shown that price of $NFLX is currently overbought. Price might fall over 30points depending on the activities of $NFLX sellers.

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Facebook Bears Might Be Getting Out Of The Market

The second half of 2018 went sour for Facebook investors when a long dip began in July. Share price moved upward to reach 218.11 and fell to 123.25. $FB has enjoyed a smooth ride in the past few years without much hassle until the dip. The fall was at 43.5% which was the worst fall in the history of $FB shares. Most of the stocks in the market fell towards the end of 2018. Technically, an M sign has been formed holding on to a strong support at 123.25.


RSI is currently showing oversold. This oversold position was last reached in 2012. If $FB bulls get into the market amass, this could lead to a change of trend in the bullish direction. The share price of $FB might reach 160 from its current 145.97 when the bulls take charge fully. A breakout of the resistance level might make the bullish movement to continue. Though Ichimoku is yet to give a change of trend, price might also get into range before the uptrend begins.

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Hope For Apple Bulls

$AAPL lost all its gains in 2018 starting in November. This might be due to the on-going trade wars. Since this fall in price, $AAPL shares reached 145.82. Before the huge fall in $AAPL share price, it had been overbought a few times. Using the weekly chart, price of $AAPL has been in the upper region of the Bollinger bands since August 2016 before it changed to the lower section of the bands in November 2018. $AAPL reached an all time high of 228.39 in September 2018.


The fall in $AAPL share price made the RSI show an oversold position. The trendlines are already broken showing a bullish reversal. Though price sits comfortably in the lower region of the Bollinger bands, it is yet to fully reverse. From now, the activities of buyers might make the $AAPL shares to rise to 188.07 from its current 155.17. Ichimoku’s future still shows price is on the downtrend. However, the support level 145.82 is yet to be broken downward despite price retesting the level in the past four weeks. This could be an indication that $AAPL bulls are about to launch their efforts.

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EURO APPRECIATES AGAINST THE FRANC


In 2018, the $EURCHF from the weekly chart shows a downtrend. In the penultimate year, $EURCHF shows an uptrend after a range in 2016. $EURCHF moved from the highest level 1.9805 in April 2018 to the lowest level 1.11901 in September 2018. The Swiss Franc gained over 8000pips against the Euro in 2018. Since the second half of 2018, $EURCHF has neither broken the support level 1.11901 nor the resistance level at 1.15031. $EURCHF’s average movement since July 2018 has been 300pips.

EURCHF WEEKLY CHART


An upward breakout of the resistance level could begin if many more EUR buyers get into the market. Since the beginning of this year, the $EURCHF has begun a bullish trend which might reach the resistance level 1.15031. The trendlines A and B have been broken though $EURCHF is yet to move to the upper region of the Bollinger band. The $EURCHF despite the bearish movement last year, it is yet to be oversold. There is a double-buttom on the weekly chart at the support level which technically signifies a bullish movement may begin. A reversal might occur due to EUR buyers getting into the market.

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Wells Fargo Could Be On The Rise

The share price of $WFC went down in 2018 for about 2100 points. It was not really a good year for investors of $WFC. A support level at 43.46 was last reached in October 2016. In the last month of 2018, it was all bearish for the $WFC shares though the bears have been in charge since September. An oversold position has been reached which might give room for investors to take charge. 2019 began with an obvious movement of the $WFC shares in favour of the bulls. Though, there are a few signs that the bulls have been active in the market in the last days of 2018.

Wells Fargo stock daily chart


The oversold levels were reached in December 2018 using the RSI. The quest for the $WFC shares to go bullish might have begun already because about 400points have been gained on the $WFC shares so far this year. Price is currently at 48.70. Stocks are beginning to gather momentum generally for bullish movements. There are very high tendencies that the price of $WFC will touch the resistance level 1 at 50.13 and eventually breaks the resistance.

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Crypto Lovers, Bitcoin Is Currently Oversold

Despite low volatility in recent times, there may be few huge profitable chances. To take a look at Bitcoin, the year 2018 favoured sellers. In 2018, $BTCUSD started at 13228 level and closed at 3665.33. There were several speculations from few experts that Bitcoin will continue the uptrend as in 2017 but it went all the way down in 2018. The highest point Bitcoin reached in 2018 was 17165 which was in January and the lowest in December at 3172.28. Many investors have lost interest due to the uncertainties of $BTCUSD thereby reducing demand. Due to the lower volatility, investors might not necessarily trade $BTCUSD for the long term.

Bitcoin 4-hour chart

The first major bullish movement in the year might start soon if more buyers come into the market. RSI on the 4hr chart shows an oversold region for the past 5 trading days. Price is yet to cross to the upper part of the Bollinger bands but deliberate efforts of $BTCUSD buyers could push price to 4092 from its current 3564.

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Tesla Maintaining A Bullish Trend

In 2018, Tesla stock opened at 316.64 and closed at 323.31. During the year, there were several highs and lows but resistance was maintained at 380.66 and support level was at 249.36. This technically signifies about 130points from the support to the resistance level. Last year, the highest point of $TSLA shares was in the second trading week of December at 380.66. The first day of trading in 2019 started with a dip in the share price of $TSLA. The price of $TSLA has been touching the resistance level several times in the past 8 months. Buyers are more active with the $TSLA stock. A breakout upward from the resistance level could lead to a major bullish movement on the stock. Market price of $TSLA opened at 305.53 this year. Since then, it tried to retrace upward to the closing price of 2018 at 332.36

TESLA 4HR CHART

RSI is yet to show an oversold reading despite a dip in momentum on the daily chart. RSI also shows momentum is currently above 50 on the RSI chart which indicates a bullish trend might begin soon. At the beginning of the week, momentum was bearish which might be an indication for the bulls to buy the downward movement. Ichimoku’s future shows a sign indicating a bullish trend might begin soon. The current price of $TSLA is at 334.40. Eventually with all these indications, if price of $TSLA continues to remain bullish, the resistance 380.66 might be reached.

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ON THE AIR with F.A.C.E.

For our first sterling chat of the year, Dale and I got right into my thoughts on Brexit given the upcoming vote in Parliament next week. Other highlights include:

  • What to do with those flash crash wicks?
  • USD weakness persisting but not gaining
  • Yen strength
  • Commodity currencies vs. GBP

Enjoy!

Mentioned: My 2019 Outlook (FaithMightFX)

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