MongiIG
-
Posts
9,899 -
Joined
-
Last visited
-
Days Won
41
Content Type
Profiles
Forums
Blogs
Events
Community Tutorials
Store
Posts posted by MongiIG
-
-
Charting the Markets: 20 August
While US markets rallied off their lows yesterday, the overall cautious view remains. Some dollar strength has dissipated, but overall the euro and sterling struggle. While gold holds its ground, oil is still on a downward move.
https://www.ig.com/uk/market-insight-articles/charting-the-markets--20-august-210820
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
Gold steady as oil keeps on falling
While gold has held its ground, oil prices are still on a downward move.
Source: Bloomberg
Gold
The price refuses to roll over, and instead is consolidating after its strong run higher.
Having mostly held its ground all week there is little sign that a downside move is going to develop, at least for now, and instead we may see fresh attempts to push on above $1790/$1800.
Source: ProRealTime
WTI
There is as yet no sign of a firm bounce in WTI, which has continued to push lower despite yesterday’s small recovery.
The 200-day simple moving average (SMA) at $60.63 continues to loom on the horizon, as an area of possible support.
Source: ProRealTime
-
EUR/USD on the ropes as GBP/USD nears a support zone
Some of the dollar strength from earlier in the week has dissipated, but overall the euro and sterling continue to struggle.
Source: Bloomberg
EUR/USD still unable to bounce
A new lower low for EUR/USD in the current downtrend leaves sellers firmly in charge.
A small rebound earlier in the week did not change the overall negative view. While a rebound towards $1.175 would be of interest to longs, it leaves the downward move from the beginning of the month firmly intact.
Source: ProRealTime
GBP/USD heads back towards support
GBP/USD's price has returned to the $1.36 support zone which provided the foundation for a bounce in mid-July.
A rally would head towards trendline resistance from the late July high, targeting $1.38 in the first instance.
Source: ProRealTime
USD/JPY fails to make headway
It has been a tough battle between the buyers and sellers with USD/JPY over the past seven weeks, with little in the way of a significant, extended move in either direction.
Dips towards ¥109.00 have been buying opportunities, while on the upside, rallies to ¥110.75 have hit a wall of selling.
Source: ProRealTime
-
European markets struggle as US stocks aim for a bounce
While US markets rallied off their lows yesterday, the overall cautious view continues to prevail.
Source: Bloomberg
FTSE 100
A bounce from yesterday’s low around 7000 helps to negate some of the negative view for the FTSE 100 with dip buyers aiming for further progress back to 7200 and higher, driven by recovering risk appetite.
Sellers will want to see a drop back below 7000 to open the path to additional downside, putting further pressure on the longer-term move higher.
Source: ProRealTime
DAX
Here the bounce appears to have stalled, as the price retreats from 15,816. Yesterday’s low around 15,640 will need to hold if the bullish view is to remain broadly in place.
Further gains above 15,800 target the record high around 16,000.
Source: ProRealTime
S&P 500
Yesterday’s bounce seemed to promise a swift recovery, but some of that has eased off with the price dropping back below 4400.
Below 4360 and the S&P 500 heads towards 4240, while a rally above 4420 restores the bullish view and brings 4480 into play.
Source: ProRealTime
-
Risk event of the week starting 23rd August: EUR/USD
With the Jackson Hole Symposium next week, focus is on the US dollar which has scaled a nine-month high. Nick Cawley from Daily FX looks at what next week’s risk event could mean for EUR/USD.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
2 minutes ago, HommaMuneisa said:
I'm having the same issues mate, since 2am, my ISP is SKY what's yours?
The IT team have noticed an issue with clients using SKY as their internet service provider. Would that be the case? They suggested to try to connect via another source such as mobile data whilst our IT team investigates the issue. If that's not the case please reach out to helpdesk.uk@ig.comThank you - MongiIG-
1
-
-
6 minutes ago, spencerfrater said:
Me too - really frustrating. And no answer yet!
We have noticed an issue that is linked to a particular ISP. It is recommended that you connect via another source such as mobile data whilst our IT team investigates the issue. If that's not the case please reach out to us at helpdesk.uk@ig.comRegardsMongiIG-
1
-
-
45 minutes ago, smokem said:
Hi,
today when i opened my account the pages did not update and it showed i had no value in my account.
I tried to open the daily briefing but it only opened the introduction picture and would not play.
I opened an ig comunity post but when i tried to sig in it did not and the connection timed out.
Out of curiosity i opened my VPN connection on my PC and imediatley my IG comunity singed in and my IG trading updated as normal and my funds were shown.
I rebooted my pc and loaded the trading site again but same, not updaing, I opend the bbc news website and it was updating and working as expected.
I turned on my VPN and again the IG site started to work as expected.
I am on PC with firefox browser.
Hi @smokem
We have noticed an issue that is linked to a particular ISP. It is recommended that you connect via another source such as mobile data whilst our IT team investigates the issue. If that's not the case please reach out to us at helpdesk.uk@ig.comRegardsMongiIG -
42 minutes ago, Robhalo said:
Platform not updating prices unless refresh is hit manually.
Account details at the top are blank instead of showing value, p&l etc.
Live chat not responding
Same issue on phone app also
Hi @Robhalo
We have noticed an issue that is linked to a particular ISP. It is recommended that you connect via another source such as mobile data whilst our IT team investigates the issue. If that's not the case please reach out to us at helpdesk.uk@ig.comRegardsMongiIG-
1
-
-
1 hour ago, igWEI said:
Hi, I upload files that you required but my account is still pending...could you check this issue for me?
thanks
Hi @igWEI
We are sorry to hear that your application is not completed.
For account opening updates please reach out to accountopening.en@ig.com.All the best - MongiIG
-
FTSE 100 set to rebound; USD strength persists and Morrisons strikes takeover deal
The FTSE 100 is poised for a rebound, aiming to end its five-day losing streak. Dollar strength persists with the EUR/USD settling below $1.17. And, Morrisons has struck a takeover deal after CD&R raised its offer to 285p.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
-
14 hours ago, DmitryM88 said:
Hello, please tell me in which section of the forum I can create an airdrop topic with links to it?
Hello @DmitryM88, welcome to the IG Community. Please kindly click below for the new members guide and you can go through the IG Community guidelines as well click here.
All the best - MongiIG
-
Market data to trade on Friday: Baker Hughes oil rig count figures; UK consumer confidence; retail sales figures
IGTV’s Victoria Scholar looks at the chart of cable, which is under pressure amid the rise in the US dollar. GBP/USD could experience some volatility on Friday amid a series of UK economic data releases.
Elsewhere, focus is on oil as the market awaits the latest Baker Hughes rig count figures.
-
1 hour ago, 786Trader said:
WTI and gasoline have been heavily correcting this month. Since 31/07 til now, WTI crude has lost 16%, gasoline 15%, heading toward a possible 19-20% retracement. It has dropped past the 200 day MA and the RSI is less than 28. All this on falling inventories of crude. Demand has reduced slightly, but not as significantly as the price betrays. So why the large fall? Seasonal shift in blends is a part reflection in the price of gasoline, shifts in confidence in all markets regards efficacy of vaccines in front of exposure to new Delta variant and its effect on future demand, also a factor, big players (China and India) drawing down reserves instead of restocking at higher prices, also a factor. Or is it simply the market correcting itself ahead of the change in season and in tandem with equities? Are hedge funds becoming reticent regards future growth? Is the patched balloon that is the equity market sinking? Has Jerome's talk of taper given markets the willies?
Oil stocks are reducing, not expanding, demand is remaining steady as movement metrics return to previous norms. Cushing's levels are comparatively low. Shale producers are back to April 2020 levels of production. Opec + is holding supply steady. Oil is in a new bull market since bottoming out April 2020 and this would be the second significant correction subsequent to those lows. As the worlds economies trend towards eventual, belated carbon neutrality, the addiction to the black stuff is hard to quell. Big oil, seeing this as a protracted last hurrah, is certain to try to extract as much value as possible until that end is reached and we only use oil for important stuff like advanced plastics and the price of oil is $500 a barrel. Which is what it should be, as it's a truly remarkable commodity and shouldn't be utilised for mundane uses, such as burning it for locomotion or single use plastic packaging. Which is pretty dumb, when one thinks about it.
I digress, My position is; Oil is falling, it will rise again. Not financial advice. Happy, profitable trading all..
Hi @786Trader
Thank you for sharing this information, it was a good read and so helpful indeed.
Crude prices did extend their losses into a sixth day on Thursday, hovering near 3-month lows, hurt by growing fears over slower fuel demand amid a spike in Covid-19 cases worldwide while an unexpected rise in U.S. gasoline inventories added to pressure.
What levels are you monitoring for both commodities to find some support levels if the strong downward trend continues, short-medium term and long term ?
Regards
MongiIG
-
Charting the Markets: 19 August
We start off by looking into the VIX, S&P 500 and FTSE 100. We then move on to commodities by delving into copper, Brent crude and gold. Finally, we end off with the FX markets: US Dollar Index (DXY), EUR/USD and GBP/USD.
https://www.ig.com/uk/market-insight-articles/charting-the-markets--19-august-210819
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to. -
EUR/USD, GBP/USD and AUD/USD all come under heavy pressure
Dollar strength in the wake of FOMC minutes has put further pressure on key FX pairs.
EUR/USD heads toward one-year low
Federal Reserve (Fed) minutes have given the downward move additional impetus, moving EUR/USD below the lower bound of the descending channel in place since late June.
This opens the way to $1.1615 lows last seen in September and October last year. There has been little sign of a bullish rebound, with yesterday’s attempt at a bounce fizzling out.
Source: ProRealTime
GBP/USD heads towards July low
Similarly, GBPUSD's small bounce in the first half of Wednesday’s session turned into a decline that has continued into today’s session.
This brings the-July low at $1.36 into view, and leaves the bearish view firmly intact. Any rebound needs to clear trendline resistance from the late-July high with a move above $1.38.
Source: ProRealTime
AUD/USD sinks yet further
The AUD/USD here has lurched lower, wiping out almost all the gains made since early November.
Further declines bring $0.716, $0.7093 and $0.6973 into view as targets to the downside. Dip buyers have been unable to turn this one around, with the pair still firmly heading lower, and momentum still firmly skewed to the downside with low stochastic and moving average convergence/divergence (MACD) readings.
Source: ProRealTime
See an FX opportunity?
-
Gold’s rally still stalled while Brent crude slumps to two-month low
Gold prices have failed to make further headway, while Brent crude is under pressure as the dollar strengthens.
Source: Bloomberg
Gold
The price has yet to roll over conclusively, but with gains having stalled at $1790 and the dollar strengthening, a retracement is eminently possible.
A lower high below $1800 reinforces the bearish view, and buyers will need to recover $1800 and then $1810 to maintain the bullish outlook created over the past week.
Source: ProRealTime
Brent
The price has fallen below the lows from July and early August, with further declines likely towards the 200-day simple moving average (SMA) of $63.19.
The next level of support is $64.50, an area tested in April and May. Trendline resistance from the late July peak comes into play at $68.80 and could hold back any upside in the short-term.
Source: ProRealTime
See opportunity on a commodity?
-
Fed minutes put heavy pressure on indices
Indices have fallen sharply in the wake of FOMC minutes, with the downward move amplified by the prevailing low volume conditions.
Source: Bloomberg
FTSE 100
A steep drop on the open puts the FTSE 100 below the 50- and 100-day simple moving averages (SMA) of 7093 and 7042 respectively for the first time since late July.
A conclusive break of trendline support and a failure to clear the June highs puts the bearish view firmly in charge, targeting 6874.
Source: ProRealTime
DAX
Losses in EUR/USD have helped to ease some of the fall for the DAX, and for now the drop only retraces some of the gains made since late July.
If the buyers can hold the price above the 50-day SMA at 15,655 then the bullish view is still intact. Further declines below this bring 15,500 and then 15,000 into view.
Source: ProRealTime
Dow
Three days of declines have carried the Dow from a record high to the 50-day SMA at 34,718.
If the price can bounce from this level, then a move back to the record seems likely. Further support could be found at the 100-day SMA at 34,428.
Source: ProRealTime
-
-
12 hours ago, RFSmithers said:
The Basics of Technical Analysis Course completed 08/18/2021.
Hi @RFSmithers, well done!
What course are you taking next on the academy ?
All the best - MongiIG
-
Early Morning Call: USD at 9-mth high; earnings update and oil at 12-wk low
USD rises to nine-month high after Fed minutes, while EUR/USD breaks 117 support and AUD/USD falls on poor jobs numbers. CSCO down 3% after hours while HOOD is down 8% and BABA hits record low. And, oil is at a 12-week low.
This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
-
For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK.
Today’s coverage:
Indices: Europe to open lower after another day of declines on Wall St as Fed indicated intentions to taper. Asia pressured by China regulatory fears
FX: USD rises to 9mth high after Fed minutes EURUSD breaks 117 support. AUDUSD falls on poor jobs numbers
Equities: Earnings today ANTO. CSCO down 3% after hours HOOD down 8% sees Q3 headwinds. UK Govt steps in on possible ULE sale. BABA hits record low as Chins continues crackdown
Commods: Climbing Covid case numbers dents the market. Copper 4mth low oil 3mth low. Gold down ½% but silver 1% off on the day -
Market data to trade on Thursday: US jobless claims; Applied Materials earnings
IGTV’s Victoria Scholar looks at the chart of USD/JPY ahead of the latest US initial jobless claims weekly figures. Meanwhile, Applied Materials gets set to release earnings.
-
Bear Spiegel sees Tesla falling to $30
Tesla short seller, Mark Spiegel of Stanphyl Capital, spoke to Victoria Scholar about his bearish outlook on the stock. He thinks the NHTFA investigation shows that the electric vehicle company has been ‘extremely deceptive’.
https://www.ig.com/uk/market-insight-articles/bear-spiegel-sees-tesla-falling-to--30-210818
Corrective trends in oil..
in Commodities
Posted
Oil at 3-month lows, extends losing streak
Oil continues to trade lower, extending its losing streak and languishing around three-month lows. Focus now turns to the Baker Hughes oil rig count figures tonight. IGTV’s Victoria Scholar looks at the chart of West Texas.
https://www.ig.com/uk/market-insight-articles/oil-at-3-month-lows--extends-losing-streak-210820