Eno Eteng (MSTA)
Eno Eteng (MSTA)
Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about stocks, Forex, and CFDs. Since 2009, he has consulted several financial companies as a trader and strategy developer. His work can be seen on several forex blogs and trading educational websites.

Gold Trending Upwards on Trump’s Latest Tweets

At about 2.38 pm, US President Donald Trump tweeted: “Fed, there is almost no inflation”. This is a reaffirmation of his position that there is no reason to keep interest rates at their present level and that aggressive rate cuts are necessary. He also praised the 1st speech from FOMC [...]

USDCAD Spikes Briefly on Poor Canadian Retail Sales

The USDCAD is testing the 1.3100 psychological resistance level on the back of June’s disappointing Canadian Retail Sales figures. The USD has spiked close to 75 pips against the Canadian Dollar, after the Retail Sales came in at 0.1% as against the 0.3% that the market was expecting. The core [...]

Nikkei 225 Rises Sharply On Possibility of 50bp Rate Cut

The Nikkei 225 average rose sharply in Friday’s Asian trading session as FOMC member John Williams boosted hopes of a more aggressive rate cut than the market is expecting. The Japanese index rose more than 400 points after hitting a session low of 20992 after comments by the New York [...]

USDCAD Rises But Meets Resistance as Crude Falls

Crude oil prices fell below $55 today, causing a weakening of the Canadian Dollar. In yesterday’s piece, the USDCAD resistance level of 1.30937 was identified as a possible area to initiate shorts. The rally seems complete as USDCAD has now turned and is heading south as the Treasury Department has [...]

Earnings Reports: Morgan Stanley Gains, Novartis Soars

Pharmaceutical giant Novartis AG (NVS) posted stellar Q2 2019 earnings, even as Morgan Stanley missed earnings estimates and slid badly premarket. Earnings Reports Novartis (NVS) reported earnings of $1.34 per share, as well as sales of $11.76 billion for Q2 2019, all on the back of increased sales of three [...]

Asian Indices Follow Wall Street into Red Territory

Major Asian indices are all trading lower for the day on the back of the weight shedding on the  US stock markets. The following Asian indices are profiled below. Japan’s Nikkei is trading 1.9% lower at 21,125.55 points. Hong Kong’s Hang Seng Index is trading 0.5% lower at 28,431.28 points. [...]

Silver Pushing Higher: XAGUSD Testing Key Resistance

Silver is edging higher today and is currently trading at $16.10, having tested the intraday R1 pivot resistance at $16.20. This resistance is a region where XAGUSD had also registered a double top reversal in January and February 2019. Further tests of this resistance area are expected. Price Projections The [...]

ETHUSD Challenging Key Trendline Support

The crypto-fiat pair of ETHUSD continues to challenge the ascending support line seen on the weekly chart, as this week’s selloff in the cryptocurrency market continues. ETHUSD is presently trading at $212.46 (as at the time of writing), having bounced off intraday lows at the ascending support line. Technical Plays [...]