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Will the EUR/CAD quotations continue to reduce?

Will the EUR/CAD quotations continue to reduce?

Recommendation for EUR/CAD: Sell

Sell Stop : Below 1,55

Stop Loss : Above 1,575

Indicator Value Signal
RSI   Neutral
MACD   Sell
MA(200)   Neutral
Fractals   Neutral
Parabolic SAR   Sell
Bollinger Bands   Neutral

Chart Analysis

EURCAD

On the daily timeframe, EURCAD: D1 is correcting down from the maximum since February 2013. It broke down the uptrend support line. A number of technical analysis indicators generated signals for further decline. We do not exclude a bearish movement if EURCAD falls below the lower Bollinger band: 1.55. This level can be used as an entry point. We can place a stop loss above the last 2 upper fractals, the upper Bollinger band and the Parabolic signal: 1.575. After opening a pending order, we move the stop loss to the next fractal maximum following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (1.575) without activating the order (1.55), it is recommended to delete the order: some internal changes in the market have not been taken into account.

Fundamental Analysis

Canada released positive data on the labor market. Will the EURCAD quotations continue to reduce?


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News Updates: Stock Market Futures Flat as Stimulus Talks Continue

News Updates: Stock Market Futures Flat as Stimulus Talks Continue

(Photo by Tasos Katopodis/Getty Images)


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Here’s what you need to know about the impact of Covid-19 to navigate the markets today.

U.S. stocks are set to open mixed but effectively flat on Monday morning, with

Dow Jones Industrial Average

futures dropping 24 points, or less than 0.1%, on Sunday evening.

S&P 500

futures also dipped less than 0.1%, while

Nasdaq Composite

futures gained just over 0.1% as investors ready themselves for earnings season to kick off this week and for a flurry of activity on stimulus negotiations in Washington, D.C.

The White House might increase its offer for a new round of coronavirus stimulus beyond $1.8 trillion and could even propose a package bigger than House Democrats’ $2.2 trillion, Larry Kudlow, the director of the United States National Economic Council, said Sunday.

“Secretary Mnuchin is up to $1.8 trillion,” he said on CNN’s State of the Union, referring to Treasury Secretary Steven Mnuchin, who has been the chief White House negotiator. “So the bid and the offer is narrowing somewhat between the two sides. President Trump actually has always said—I mean, I’ve heard him say it in the Oval [Office]—as far as the key elements are concerned, the checks, the unemployment assistance, the small business assistance, we’ve got to help airlines out, he would go further. He’s always said that.”

Even after Senate Majority Leader Mitch McConnell (R., Ky.) said he doubted there were enough Republican votes to pass a $1.8 trillion bill, let alone one with $2.2 trillion or more in spending, and Senate Republicans lambasted the $1.8 trillion proposal in a call with the White House, Kudlow claimed that if the Trump administration struck a deal with House Democrats, Senate Republicans would “go along with it.”

House Speaker Nancy Pelosi

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Dycom (DY) Rises 104% in 6 Months: Will the Rally Continue?

Dycom (DY) Rises 104% in 6 Months: Will the Rally Continue?

Dycom Industries Inc. DY has been riding high on strong prospects in the telecommunication business, continuous contract wins and solid backlog. Earnings estimates for fiscal 2021 and 2022 have moved 6.4% and 0.9% north in the past 30 days, depicting bullish analysts’ sentiments.

Shares of this specialty contracting firm have rallied 104.1% over the past six months, outperforming the Zacks Building Products – Heavy Construction industry’s 26.9% growth.

This Zacks Rank #1 (Strong Buy) stock has also outperformed the Zacks Construction sector and S&P 500 Index’s 47.7% and 22.9% rally, respectively, in the said time frame. You can see the complete list of today’s Zacks #1 Rank stocks here.

 

Factors Narrating Dycom’s Growth Story

Strong Prospects in Telecommunication Business: Accounting for 90.8% of contract revenues, Dycom’s Telecommunication business primarily benefits from increased demand for network bandwidth and mobile broadband, given the proliferation of smart phones. As telecommunication networks face increased demand, customers need to expand the capacity and improve the performance of existing networks and in certain instances, deploy new networks. Presently, a number of major industry participants are deploying significant wireline networks to offer bandwidth-enabling 1-gigabit speeds, thereby creating significant opportunities for Dycom.

In the last few quarters, the company’s top line benefited immensely from extensive deployment of 1-gigabit wireline networks by major customers. Dycom remains optimistic about the strengthening industry environment, given strong end-market drivers. Although the recent market trend is a concern, telecommunication networks that are a crucial infrastructure for the country will gain momentum as the effects of the pandemic phase out.

Solid Backlog: Dycom continues to register a stable 12-month backlog despite a challenging economic backdrop. This indicates persistent growth through the next calendar year. The company recorded backlog of $6.441 billion at the end of second-quarter fiscal 2021, almost in line sequentially. Of

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Asia Business Leaders Show Signs Of Optimism, But Expect Layoffs To Continue

Asia Business Leaders Show Signs Of Optimism, But Expect Layoffs To Continue

Chinese astrology has it that 2020 is a “metal rat” year, and is associated with turbulence. Covid-19 has certainly provided a quantum of it. With a steep market dive in the first quarter, and sharp worldwide economic contraction, Asian business has had a rough ride. As star signs go, 2020 has so far lived up to its ratty astrological reputation.

The results of a survey conducted from August to September of Hong Kong-based Asia Business Council’s members, who are the chairmen and CEOs of some of Asia’s leading multi-national companies, collectively valued at nearly $3 trillion, and with some 3 million employees, offer insights against the turbulent backdrop of a year dominated by Covid-19. With a response rate of 83% (58 out of 70 members), the results showed a latent optimism and the confidence to re-tool investment focus. Though the outlook for job growth remains uncertain, not surprisingly, these leaders ranked public health and geopolitics as top concerns for their businesses.

A lot of numbers follow here, but they are very telling. When asked their outlook for business conditions in Asia over the next 12 months, and in spite of significant declines in their own revenues, half said they expect to see an improvement, while 33% expect conditions to worsen. Though not a table-pounding endorsement, this is a significant change from 2019, when 55% expected conditions to worsen.

Only 16% of members foresee a prolonged downturn or depression, and just 5% anticipate inflation. The wide distribution of an effective vaccine for Covid-19 is viewed as a pre-condition for a return to pre-pandemic economic levels–an opinion expressed by 91%—that speaks well of the latent, “coiled-spring” potential of

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