European stocks struggle. DAX breaks support

Closing changes for the main European bourses German DAX -1.5% UK FTSE -0.9% French CAC -1.0% Spain IBEX -1.3% Italy MIB -1.50% The euro is up 0.5% so that mitigates some of the pain for foreign investors. Otherwise, there isn’t much of a silver lining in the cloud of losses. The German DAX, in particular, […]

Dollar rebounds as stocks move back toward unchanged

Sellers covering.The fears of a stock sell off has subsided with the major indices moving back toward unchanged and with the recovery, the dollar is too moving back up.The EURUSD has moved back below the 100 bar MA on the 5-minute chart and corrected about 50% of the trading range today. The pair is still […]

Ethereum Prices Hit Two-Month High, 385 in Sight

To receive Michael’s analysis directly via email, please SIGN UP HERE Ethereum breakout eyes key resistance target- outlook constructive above 320 Check out our New 3Q projections in our Free DailyFX Trading Forecasts. Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT ETH/USD Daily Chart Technical Outlook:Ethereum prices rallied to two-month highs today […]

What’s next for the euro after 1.20

Aside from the psychological impact, 1.20 doesn’t mean much Normally, a 40-pip gain in the euro wouldn’t be a big story but when that gain takes EUR/USD from 1.1980 to 1.2020, it’s major news. The 1.20 level is one that we (and everyone else) has been talking about for months. The story was that Europe […]

3 Junior Biotechs With Solid Upside Potential

Biotechnology stocks surged higher on Monday after Nasdaq-100​ component Gilead Sciences, Inc. (GILD) announced its acquisition of Kite Pharma, Inc. (KITE) at a hefty premium to last Friday’s closing price. Sector funds broke out above long-term resistance in June and could now gather additional momentum, potentially lifting components at all capitalization levels to 2017 and […]

Immunomedics Stock Breaks Out, Consolidation Likely

Immunomedics, Inc. (IMMU​) shares have soared more than 40% over the past five sessions after preliminary data from its Phase 2 clinical trial showed a positive treatment effect. Patients that received a weekly dose of labetuzumab govitecan experienced median progression-free survival of between 3.6 months and 4.6 months, depending on the dosages. These figures were […]