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COULD FACEBOOK SHARES BE SINKING?

Facebook shares sank in the month following the Cambridge Analytica revelations, and they remain down more than 2 percent in 2018 against the S&P 500’s 7 percent climb.

The stock was set to add to the year’s losses Wednesday morning, down 0.3 percent in pre-market trading. In the last one year, facebook shares has grown by 3.52%, In the last 3 months, it went down at an average of -6.61%; In the last 1 month, it went down by -1.49%; In the last 5 days, it went down, -0.61%. Facebook shares has been ranging ever since its share price dropped towards the end of the market day on the 25th of July, 2018. Its fall might continue since there are unresolved issues around the brand, Facebook.

The senkou span(purple colour) of the Ichimoku kinko Hyo shows the future of the market to be a downtrend or on a sell region. The RSI is above 70 which shows it is overbought for a long time and now in the sell region. It has not been oversold on the daily time frame. There are tendencies there will be more selling of the facebook shares.

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MARKET OUTLOOK ON AUD/USD

The Australian dollar had a resistance level at 0.7370. Ever since it touched this point, it has been on a downtrend. Could it be developing a new support level at 0.7288. On Friday, there will be high impact news to be released on the USD but for now this pair is in a range form. The Aussie has been losing to the dollar since Tuesday and might continue if the next news comes out in favour of the US dollar.

The AUD/USD with the RSI has been on the sell region for sometime but yet to be oversold  i.e. yet to get below 30%. The ichimoku kinko hyo (senkon span) has been in the sell region, which might still retain its stand.

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THE JOURNEY OF CRYPTOS CONTINUE

Having been oversold for a while, Bitcoin continues moving in a direction majorly for long term traders and hope will be restored soon for some profit. Bitcoin went down last week to $6000 from a previous resistance level of $8,300. Since then, it has held on to a strong support level and might increase its value only for a short while. Its next resistance might be $6,800. However, this is dependent on the number of buyers to go long, if not, it continues shorting.

For Ripple, the next major resistance might be 0.4140 but since its ranging now, so it seems indecisive. The major reason for a buy is because it has been oversold for the past weeks just like bitcoin.


For Ethereum, it has been oversold at $278 to 1 Ethereum for 2 weeks. The next major resistance might be $395. This could also be a swing for a continuous downtrend.

Indications showing for the next few weeks: The more buyers, the higher the price of crypto currencies and new resistance levels will develop. For now, it is ranging and it’s not too good to enter trades in a ranging market.

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MARKET OUTLOOK ON EUR/JPY

Throughout july, the Japenese yen gained so much against the Euro in which a new support level was at 125.00. Assuming buyers resume activities, it could get a new resistance level at 128.00. There is a breakout already, which might also be a fake breakout.

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

It’s always a treat joining Dale Pinkert live in the Forex Analytix Community Experience. This is the premier trading room on the internets right now. So it is honor to speak to this audience. To hear, today, how much value I bring to them is humbling. It makes my day to help people in their journey to successfully navigating these markets:

Take a listen below to our masterclass lesson in the GBP in real time after 4 straight months of decline against the USD and new lows versus the JPY. What’s in store for the rest of 2018?

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NAIRA TEMPORARILY GAINING MOMENTUM AGAINST THE EURO

On the 26th of April 2018, naira was exchanged at N444 to €1. And within the day, naira improved and gained with the exchange of N403 to €1. There was stability in the currency market between the naira and the euro until the end of 2016 when the recession began. Before the recession, naira was exchange at N310 to €1. During the recession, the naira lost so much and was at around N450 to €1.

Recently, millions of dollars was pumped into the Nigeria forex exchanage market by the economic team headed by the Vice President. Prof. Yemi Osinbajo with the main aim of stabilizing the naira against major counter currencies like the USD and the EUR.

Naira has gained momentum in the last four weeks and there are high tendencies to gain more.

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Disney Has Lit Up #BlackTwitter

#BlackTwitter is the collective of influential tweeps who have given us memes upon memes, social justice movements across the world, and influenced global culture in profound ways through the power of the Internet. So when the release of Black Panther by Disney Studios was announced back in 2014, #BlackTwitter became aflame with excitement and anticipation of the next Ryan Coogler masterpiece. In fact, #BlackPantherSoLit became a trending hashtag for over 2 years before the movie finally opened in 2018 as the production progress strategically leaked to the world.

Then A Wrinkle In Time was announced. And #BlackTwitter blew up with excited anticipation yet again! So I started to pay attention to the market. With #BlackTwitter so hype, I got interested in the stock.

DISNEY stock DAILY CHART

While #BlackPatherSoLit became the top trending topic on social media, the $DIS stock bottomed at $90 and soared to a high in 2017 just above $116. Don’t tell me #BlackTwitter isn’t powerful! Then $DIS took a beating as price crashed at the beginning of the year. In early February, I left an early release screening of Black Panther with a new love for cinematography, set design and costume design in film. Not to mention the acting is good too. Black Panther is just a damn good movie. The box office has born that out with over $1 Billion in ticket sales and it is still 2018. And Disney won a new fan in me that day. I watched Avengers Infinity Wars beforehand so I would have proper context for Black Panther. And that was great too. I don’t think sequels are not out of the question here.

The chart above is from over 12 months ago. Here is the $DIS chart in April 2018 when the saw the movie.

$DIS weekly chart

And here is how $DIS closed the trading week on Friday.

DIS WEEKLY CHART

With a weekly close above $110, $DIS has not been at these levels since the new year and I believe it is not done rallying higher. And Disney is not done releasing hit movies. But it’s not that I like $DIS because the of the hit movies. Long term, I like Disney’s audacious move to launch its own streaming service. Given its vast archive of content and the hit films that are released just this year in 2018, it’s looking more and more like those dips in the stock price have developed into real opportunity.

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

I was back on F.A.C.E. early this month on July 5th to chat about the summer trends in the major GBP currency pairs. Since I didn’t post the video here on the blog at that time, I thought it would be an interesting and fun exercise to backtest some of the forecasts I made with Dale at that time.

I spoke about the current downtrend in the $GBPUSD which needed to move higher and close above 1.3350 to reverse the sentiment. Well, we got to 1.3350 last week but sellers came in swift to push the $GBPUSD to new 2018 lows at 1.2956.

At the top of the month, the $EURGBP, after being stuck in a tight range, had just broke above the key 0.8850 resistance level. I spoke about the potential for the $EURGBP to establish a new range between 0.8800 and 0.8950 depending on the market reaction to Brexit news and non-farm payrolls. This week, the $EURGBP reached 0.8950.

The $GBPJPY and the $GBPNZD moved exactly as expected off their failed lows and highs, respectively. The $GBPJPY did break above the major 148 resistance level to new highs last week. The $GBPNZD did break lower too but it moved 300 pips lower I than expected.

So all in all, not bad. Three out of 4 calls is actually quite excellent in this business.
 

 

 

There are ebbs and flows to every market. Trade what you see. Learn how. Or simply invest with a pro. [sponsored]

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ON THE AIR with FUTURES with Ben Lichtenstein

Yesterday, June 25th, was my 3rd time on this show. And it was my 1ST time feeling comfortable in front of the camera. A huge THANK YOU to Ben, Alex and the folks at TD Ameritrade Network. They kept asking me back, ha! That was a good sign after my initial appearance (which still makes me cringe lol). Thanks for giving me chance after chance.

My discussion with Ben focused on this week’s fundamental outlook. However, investors should watch these themes, not just for this week, but for this entire summer. Our investors spent the spring getting in position to take advantage of the summer opportunities brought about by active central banks, trade wars and risk aversion. Investors must always stay position to take advantage of developments as they come in markets. I talk to Ben about a few of them. Click the screenshot of my segment below to listen to the show.

CLICK TO WATCH THE FULL SHOW

 

 

 

There are ebbs and flows to every market. Trade what you see. Learn how. Invest with a pro. [sponsored]

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ON THE AIR with Limit Up!

I had the immense pleasure of speaking with Eddie Horn of TopstepTrader. Eddie is host of a weekly podcast, “Limit Up!” where he talks with traders about their process and paths to success in trading markets. It has been several years since I spoke about my humble beginnings as an investor and forex trader and I really enjoyed the questions Eddie posed. The older I get, I realize my 10+ years in this business has been a roller coaster ride that many other people can, in fact, learn from.

My episode dropped Friday just after the market close. I love how the interview was put together. Eddie (and Mark Meadows, the show producer) make me look good here! I hope you enjoy it!

 

 

 

There are ebbs and flows to every market. Trade what you see. Learn how. Invest with a pro. [sponsored]

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