2020

Iconic US fast-food company McDonald’s reported third-quarter earnings yesterday and comfortably beat Wall Street estimates. The company reported Q3 earnings per share of $2.35, surpassing estimates for a $1.91 EPS. It also reported…
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A lot has happened in New Zealand since the last meeting of their Reserve Bank. A lot more has happened outside the island nation that has implications for the country's monetary policy. Thus, there are many analysts that are expecting…
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The EURUSD structure hints at a bullish impulse consisting of waves ①-②-③-④-⑤. At the time of writing, intermediate wave (1) of the primary 5th wave has completed. In the short term, a decline in zigzag correction (2) near 1.172 is…
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AUDNZD has seen a significant downtrend since August which has seen prices drop to 1.06. Bears are currently testing the long-term lower descending channel as a previous attempt to move out of the range failed. With a hidden bearish…
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Global Stocks Profit from the Rumor A breakthrough in the search for a coronavirus vaccine led most global indices higher yesterday. The US index rose by 0.68%, whilst the FTSE and the DAX both ended the session higher by almost 5%.…
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The precious metal is down over 4% intraday. The declines come amid a boost to risk on sentiment in the markets. Gold prices reversed gains, just a few ticks shy of the 1967.13 level of resistance. Following this, the precious…
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Oil prices are reacting strongly to the news of the development of the COVID-19 vaccine. Oil prices gained over $3.50 on Monday to settle close to the 40.00 level. A brief intraday test of this level saw prices being rejected.…
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The British pound sterling staged a strong move to the upside. As a result, price action closed above the 1.3122 level for the first time since early September this year. The quick pullback saw the 1.3122 level being tested for…
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The euro posted an impressive rally as price finally hit the 1.1900 level of technical resistance on Monday. However, markets rejected the common currency at this level, pushing it lower. Still, we could expect to see some…
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As a result of the broad rally in equities in response to the outcome of the US presidential elections, shares in US technology company Uber, have exploded higher in recent days. Indeed, the rally in Uber’s stock price has come despite the…
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