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Bruce Powers on Muck Rack

Bruce Powers

Canada, United States
As seen in: LinkedIn, MSN, Yahoo Finance, Investopedia, Cointelegraph, Investing.com, Gulf News, FX Street, FX Empire
Covers:  financial markets, trading, technical analysis, US equities, cryptocurrencies, quant trading,commodities, Forex foreign exchange, emerging markets, Middle East stocks, trading strategies
Trader/Technical Analyst. Freelance writer/analyst/coach - Daily @FXEmpirecom #TechnicalAnalysis, Trading Education.
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EUR/USD Stays Stuck in Narrow Range

EUR/USD Stays Stuck in Narrow Range

FX Empire — For the past six days the EUR/USD has been contained within a relatively narrow range from a high of 1.0887 to a low at 1.0766. An expanding triangle consolidation pattern has formed during this time as the price range is expanding over time rather than contracting.
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EUR/USD Could Spend Another Week Inside a Price Range

EUR/USD Could Spend Another Week Inside a Price Range

FX Empire — EUR/USD extends consolidation phase to trade inside day on Thursday. The pair remains within a five-day consolidation range with a high of 1.0887 and a low of 1.0766. Usually, highs and lows of consolidation can be used for signals as to which direction the EUR/USD trends next.
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EUR/USD Might Be at the Start of a Minor Correction Lower

EUR/USD Might Be at the Start of a Minor Correction Lower

FX Empire — EUR/USD continues to trade in a low volatility environment yet leans towards the bearish side. It fell to a three-day low on Tuesday and is looking like the session will end with the pair closing in the lower third of the day's range, which is short-term bearish.
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EUR/USD Forecast - Recent Uncertainty Fails to Deter Uptrend

EUR/USD Forecast - Recent Uncertainty Fails to Deter Uptrend

FX Empire — In technical analysis the broadening formation is generally considered to be a reversal pattern. It is a consolidation where the pattern is widening over time as the high-to-low of the range expands going forward. It is shaped like a megaphone with trend lines drawn across the top and bottom borders of the pattern heading away from each other.
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EUR/USD Forecast - Volatility Rises Yet Next Direction Still Not Clear

EUR/USD Forecast - Volatility Rises Yet Next Direction Still Not Clear

FX Empire — EUR/USD has been trading relatively sideways for the past week. The larger pattern occurring in the pair is a bearish rising wedge within a rising parallel trend channel. A breakdown of the wedge occurred on December 16. However, price went sideways following the breakdown thereby putting the bearish potential of the wedge at risk of failure.
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EUR/USD Forecast - EUR/USD Takes a Vacation

EUR/USD Forecast - EUR/USD Takes a Vacation

FX Empire — It is looking like the EUR/USD will finish the week, inside week and inside day. This reflects the low volatility environment and narrow range that has been seen for the past six trading days. Until the pair gets out of this range traders can expect a continuation of the difficult trading environment.
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USD/CHF Price Forecast - USD/CHF Further Confirms Bullish Reversal off Bottom and Next Heads Towa...

USD/CHF Price Forecast - USD/CHF Further Confirms Bullish Reversal off Bottom and Next Heads Towa...

FX Empire — A stronger U.S. dollar helped the USD/CHF pair advance by 0.0024 or 0.24% Tuesday, to close at 0.9832. Yesterday's weakness in the USD/CHF pair didn't last long as support was found just above the 38.2% Fibonacci retracement at 0.9797, as seen on the enclosed 4-hour chart, before buyers stepped in more aggressively to propel the pair to new trend highs.
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EUR/USD Forecast - EUR/USD Stuck Within a Three-day Range

EUR/USD Forecast - EUR/USD Stuck Within a Three-day Range

FX Empire — So far today the EUR/USD is trading within a three-day price range with a high of 1.0663 (Thursday's high) and a low support level at yesterday's low of 1.0576. The lows of the three-day range have been testing support of a long-term downtrend line following the breakdown of a rising bearish wedge trend reversal pattern last Thursday.
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EUR/USD Forecast - Moves to Short-term Bearish as Rising Wedge Triggers

EUR/USD Forecast - Moves to Short-term Bearish as Rising Wedge Triggers

FX Empire — Following a breakout above the 200-day EMA at the beginning of December, the EUR/USD rallied to complete a 61.8% Fibonacci retracement with a trend high of 1.0736 last week. Subsequently, price was rejected at the high. A bearish rising wedge pattern formed following the breakout of the 200-day line and it triggered on Friday.
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EUR/USD Forecast - Uncertainty Continues to Dominate EUR/USD Trade

EUR/USD Forecast - Uncertainty Continues to Dominate EUR/USD Trade

FX Empire — Another low volatility trading day for the EUR/USD. As of this writing the pair looks like it may finish inside the prior days range, and certainly stay within a four-day range with a high of 1.0663 and a low of 1.0576. Further, it remains inside the prior week's high to low price range.
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Does Semiconductors Breakout Give All-Clear Signal?

Does Semiconductors Breakout Give All-Clear Signal?

Investopedia — Having the VanEck Vectors Semiconductor ETF ( SMH) end at a record weekly closing high last week is certainly a bullish sign on its own. This is true not only for the semiconductor and tech industries but also for the U.S. equity market, given that SMH is leading the wider market into new highs.
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Cryptocurrencies on the Comeback Trail

Cryptocurrencies on the Comeback Trail

Investopedia — If you follow the cryptocurrency market, then you know that bitcoin has taken off, rising a little over 50% in 18 days, when measured from the last swing low of $4,963 to last week's high of $7,581.82.
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Not Too Late to Put Cannabis Stocks on Your Radar

Not Too Late to Put Cannabis Stocks on Your Radar

Investopedia — Cannabis stocks have been on a tear over the past six months or so as legalization and acceptance for both medical and recreational use at the state level spreads in the U.S., Canada has fully legalized, and select countries globally consider a change to their long-standing policies.
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Long-term outlook for Dubai takes another turn down

Long-term outlook for Dubai takes another turn down

Gulf News — ADI at risk of a deeper pullback following the drop below 4,836.08 two weeks ago Dubai: Regardless of the shortened three-day trading week, the bear market continued in Dubai with the Dubai Financial Market General Index (DFMGI) falling 88.39 or 3.31 per cent to end at 2,580.27.
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UAE markets: Bears show who's boss, and it's not positive for stock prices

UAE markets: Bears show who's boss, and it's not positive for stock prices

Gulf News — There were six advancing issues and 28 declining in Abu Dhabi Dubai: Last week the Dubai Financial Market General Index (DFMGI) fell the hardest in 15 weeks. The index was down 86.25 or 3.13 per cent to end at 2,668.66. Most of the listings participated in the sell-off as there were only three positive issues against 31 declining.
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UAE markets pull back to prepare for next move

UAE markets pull back to prepare for next move

Gulf News — Further signs of strength are now needed to keep the bulls intact Dubai: The Dubai Financial Market General Index (DFMGI) dropped by 23.85 or 0.86 per cent last week to close at 2,754.91. Market breadth was on the bearish side as there were 13 advancing issues and 18 declining.
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Bullish sentiment grows in UAE markets

Bullish sentiment grows in UAE markets

Gulf News — Dubai: The Dubai Financial Market General Index (DFMGI) gained 139.4 or 3.86 per cent to close at 3,754.10, a six-week closing high. Weekly volume improved to twice the prior week, and hit a 15-week high, while daily volume on Tuesday reached its highest level since July 2, 2014.
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Bearish signals triggered in UAE markets

Bearish signals triggered in UAE markets

Gulf News — Dubai: Last week the Dubai Financial Market General Index (DFMGI) dropped hard, ending down 109.19 or 2.95 per cent at 3,588.49, with a low for the week at 3,576.90. Volume, however, was muted as it fell to a three-week low. This was the worst performance in 10 weeks, with most listing closing lower.
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Bottom falls out of UAE markets

Bottom falls out of UAE markets

Gulf News — Dubai Last week the Dubai Financial Market General Index (DFMGI) fell by 172.43 or 4.76 per cent to close at 3,449.81, that's the largest one-week decline since May 2016 and the lowest close in 18 weeks. Most issues fell as there were 34 declining and only eight that advanced, while volume increased from the previous week.
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UAE markets continue to consolidate

UAE markets continue to consolidate

Gulf News — The Dubai Financial Market General Index (DFMGI) dropped by 98.48 or 2.04 per cent last week to close at 4,734.76. Volume rose, but remained in the bottom half of the levels seen the past several months, while most issues participated in the weakness. There were 24 declining issues versus 11 advancing.
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UAE markets pull back but hold above key price levels

UAE markets pull back but hold above key price levels

Gulf News — Dubai: The Dubai Financial Market General Index (DFMGI) dropped by 69.19 or 2.11 per cent last week to close at 3,204.11. Most issues fell, with 26 declining and only six advancing, while volume dropped to a five-week low. This performance was not remendously encouraging given the reversal week prior, but there are still reasons to be optimistic in the near-term.
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Goldman Sachs Stock: Potential Head and Shoulders Bottom Forming

Goldman Sachs Stock: Potential Head and Shoulders Bottom Forming

Investopedia — A potential bullish head and shoulders bottom trend reversal pattern continues to form in the chart of The Goldman Sachs Group, Inc. (GS). The right shoulder of the formation is still developing but may be getting close to completing. At this point, a decisive rally above approximately $239.73 would start to trigger a bullish breakout, with a daily close above that price zone confirming strength.
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2017 Market Performance: Crypto vs. Stocks

2017 Market Performance: Crypto vs. Stocks

The Cointelegraph — When looking across the globe, there were plenty of strong performing equity markets in 2017. Nevertheless, none compare to the massive appreciation seen within the cryptocurrency sector. Warning: If you are primarily an equity investor, you may soon be compelled to enter the world of cryptocurrencies as the relative outperformance of the top cryptocurrencies in 2017, when compared to equity markets, was astronomical.
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What's Hot, What's Not

What's Hot, What's Not

Wealth Monitor — After experiencing torrid market conditions during the first couple months of the year, investors eventually moved back into equities and commodities. Will the bullish momentum continue?
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