Stock split fails to lift SHOP, shares down 4%

Shopify gives shareholders 10 shares for every 1 as of June 28. SHOP stock lost 6.1% on Tuesday in tandem with Nasdaq. Shopify stock is expected to open around $35. UPDATE: Shopify’s 10-for-1 stock split failed to entice retail traders on Wednesday. Shares that closed at a split-adjusted price of $35.02 on Tuesday, opened at … Read more

Mildly bid above 166.00, 13-day-old hurdle eyed

GBP/JPY picks up bids to portray a three-day uptrend. Sustained break of weekly resistance line directs buyers towards a fortnight-old hurdle. Convergence of the key SMAs, resistance-turned-support and an immediate upward sloping trend line highlight 165.40 as the key support. GBP/JPY refreshes intraday high near 166.40 during the third positive daily performance amid Tuesday’s Asian … Read more

Rectangle formation advocates volatility contraction

A break of the Darvas Box invites volatility expansion in the asset. The short-term EMAs are overlapping to the cable prices, which signals a consolidation ahead. A (40.00-60.00) range oscillation by the RSI (14) is advocating a rangebound phase going forward. The GBP/USD pair is displaying a lackluster performance in the Asian session. The asset … Read more

Loss of upside momentum looks imminent

Bearish negative diversion on the RSI (14) is indicating exhaustion in the upside move. The greenback bulls have defended the 10-EMA at 134.69. The 20-EMA is still scaling higher untouched and is favoring a bullish bias. The USD/JPY pair is displaying wild moves after the release of Japan’s Inflation. The asset is facing barricades around … Read more

Retreats towards 1.2950 inside weekly bullish channel

USD/CAD snaps two-day uptrend, stays pressured towards immediate support line. Bullish chart pattern, steady RSI keeps buyers hopeful, 1.3080 is the key hurdle. Downside break of mid-month low could convince bears. USD/CAD extends pullback from 1.3017 towards dropping back inside a weekly ascending trend channel formation. That said, the Loonie pair stays depressed at around … Read more

Descending triangle keeps buyers hopeful around 1.2250

GBP/USD dribbles inside a bullish chart pattern after two-day inaction. Firmer RSI, horizontal support add strength to the bullish bias. 100-SMA acts as an extra filter to the north, bears could aim for yearly low on breaking 1.2160. GBP/USD treads water around 1.2260 during Friday’s Asian morning, following the last two days’ dormancy inside a … Read more

Bears march towards weekly support near 0.6875

AUD/USD remains depressed around intraday low, extending the previous week’s pullback towards monthly low. One-week-old trend line may offer intermediate support but the 0.6855 level is crucial for bears to watch. Convergence of 50-SMA, two-week-old resistance line challenge buyers. AUD/USD holds lower ground near 0.6890 heading into Thursday’s European session. In doing so, the Aussie … Read more

A range expansion looks likely above 1.0600

A Darvas Box formation is indicating a volatility contraction in the asset. The RSI (14) is attempting to shift into the bullish range of 60.00-80.00. The shared currency bulls have defended the 20-EMA confidently. The EUR/USD pair is displaying a sideways move after a minor correction from the round-level resistance of 1.0600. On a broader … Read more

Sellers keep eyes on 1.2180 support

GBP/USD fades bounces off intraday low, stays pressured around weekly bottom. Fortnight-old resistance line, 100-EMA guard immediate run-up, RSI hints at sideways grind. Weekly support line restrictions downside targeting yearly low. GBP/USD licks its wounds around 1.2250 while fading the recent bounce off intraday low during Thursday’s Asian session. Even so, the cable pair remains … Read more