Christmas Exclusive Economic Forecast

Exclusively for this festive season, BigOption launches its binary options trading competition for traders worldwide and also provides you with the economic forecasts about four major trending assets on the Market namely: USD, Crude Oil, NASDAQ, Apple.

USDJPY Economic Forecast

USDJPY has been increasing since the start of November, when the Federal Reserve stated that quantitative easing was no more necessary in the economy. With the money inflow from QE, the economy revived and the greenback touched new highs. The pair was lingering at the 107 line before heading upwards with at various times having a choppy channel. It is now trading above the 116 line after having hit and crossed the 120 line before heading back down, thanks to the NFP data which went way above economists’ forecasts and suggesting that non-farm jobs were increasing in the world’s second largest economy.

We are in mid-December and the USD is still the strongest currency out there and it might keep on rising on charts for the days to come up till the end of December. It is now at the 116 vicinity with uncertain trend choice due to pressure from the 120 line which proves to be quite resistive right now. This is a buy only market and selling might not be an option right now unless the pair crosses down the 115 floor. If we judge the chart by the ichimoku placed on the hourly chart, we can see that the pair has a bullish future and that buyers will keep on buying pullbacks on the market.

Short term Sentiment: Slightly Bearish

Mid-Term Sentiment: Uncertain Long-Term Sentiment: Bullish


NASDAQ 100 economic Forecast

The NASDAQ future started to tumble on charts since the last week of November from 4324 points to nearly 4090 in less than a month. On Tuesday, the index gapped lower at its opening, but turned back around to show that the greenback is effective on the charts. Finally, the market turned around and formed a massive shooting star which suggests that this market could probably go lower on the charts, but however, support might be found just below at the 4400 levels.

Earlier this week, the pair tumbled due to technological stocks shares and the fall of the Russian Rubble, which caused worries in the global economy. Meanwhile, investors will be considering Fed talks this week in order to determine longer positions on charts. Moreover, this week, over 9 billion of shares were exchanged on the floors, while NASDAQ fell 1223 for a ratio of 1.23 to 1.

Short term Sentiment: Bearish

Mid-Term Sentiment: Neutral Long-Term Sentiment: Highly Bullish


Brent Crude Futures Forecasts

Oil has created much noise on the market since the past months and has now reached a critical price level on charts. The OPEC has decided to cut oil prices and this news benefited the world as a whole, mainly the USA, whose consumers tend to spend more and more on gifts for festive season. The sweet crude tried to rally during most of its session, but as always, created a shooting star to close to the bears, thus making the daily candle a red one for the fifth time in a row.

If we take a look at the daily chart of the commodity, we can clearly see the decline and its potential direction. It is now trading at $59.36 with a high bearish sentiment, but this might not be determined only by market forces, as all decisions are between the oil cartel and the OPEC. However, by looking at the primary cycle of the Elliott Wave placed on the daily chart 3 months ago, it can be seen that the impulse wave was more steep than the corrective one, leaving us with the possibility of a short impulse for the days to come.

However, data points to different future prices for the sweet crude and the difference between the 2 figures are huge. On top of that, the $55 handle should be rather supportive based upon the large figures below. We still believe the floor is at 30.0 and might not even come close to it.

Short term Sentiment: Highly Bullish

Mid-Term Sentiment: Uncertain Long-Term Sentiment: Bearish

Apple Stock Forecasts

Earlier this month, forecasts based on economist’s sentiment survey showed that Steve Job’s company might outperform the market in future sessions. Meanwhile, both DPS and EPS showed an increase of 11.75 and 13.65. Given this, the EPS share growth place itself above its competitors in the industry. Moreover, while Android’s lollipop was found out to have bugs and fixes to be considered, this might slightly push Apple to higher levels. Moreover, consumer sentiment remains very bullish regarding the company on the mid and long-term as the latter might release novelty products in the next financial year.

Meanwhile, on the charts, it can be seen that the stock gapped lower twice on the daily chart since the beginning of this month. The resistance might be found at the 110.6 line on the chart while support could be found way down to the 103.44 line and might not be touched by Apple, since the bullish economist’s survey. It is now heading to the small resistance while still stagnating at times on the chart.

Short term Sentiment: Bearish

Mid-Term Sentiment: Neutral Long-Term Sentiment: Bullish
Warren Tancredi By: Warren Tancredi
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