Confirmed Inverted H/S pattern

There is now a change of market sentiment after strong sell rally with a text book perfect Inverted head and shoulder pattern formation as viewed on the daily chart and confirmed the pattern as we see market participants rally past up the angling neckline and a retest.To get more news about WikiFX, you can visit wikifx official website.
　　The upward momentum did not find quite a resistance as sellers offered little or no push back as buyers easily breached past the 0.925 price level handle which could have offered to some sellers ceiling level block to place their sell limit orders.
　　Market participants could playing the long shot as they probably targeting 0.94 price handle level as the main target high and 0.935 price handle level as minor target high.
　　Do look for a retest of the August trading month highs as potential limit order block area.
Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.

　　Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.

The Worlds Biggest Crop Trader Is Putting Giant Sails on Cargo Ships

The U.S. trade deficit narrowed for the first time in three months in September as exports jumped and import growth slowed, though overall transactions remained well below pre-pandemic levels.To get more news about WikiFX, you can visit wikifx official website.
　　Todays Must Reads
　　Leave in the lurch | The U.K. lockdown will add to pressure on logistics firms and supply chains already strained by an economic slump and preparations for Brexit on Jan. 1. Britain is also struggling to stock up on supplies of a coronavirus vaccine, a top government official has said.
　　{5}
　　Soothing nerves | Chinese President Xi Jinping tried to re-assure international businesses that the nation is committed to open trade, amid concerns that the new “dual circulation” strategy will mean the worlds second-largest economy is set to become more insular.
　　{5}
　　Tensions flaring | Protesters in the disputed region of Western Sahara blocked Moroccos main trade route to West Africa, prompting a warning that a conflict suspended for three decades could reignite.
　　Low on chips | Apple is grappling with a shortage of vital chips that manage power consumption in iPhones and other devices, complicating its ability to meet holiday demand for the latest version of its marquee gadget.
　　Fits and starts | German factory orders extended their recovery in September, albeit at a slower pace. Meanwhile, car sales fell in Europes four largest auto markets in October, signaling demand has relapsed in the midst of another wave of the coronavirus cases hitting the region.
　　Stop in tracks | The U.S. Department of Commerce is imposing a preliminary anti-subsidy tariff on car and truck tires from Vietnam, citing the Southeast Asian nations “undervalued currency” among the reasons for the decision.
　　On the Bloomberg Terminal
　　Double dip | High-frequency data show that economic activity in advanced economies weakened over the course of October amid renewed outbreaks, signaling what may be the start of another downturn, according to Bloomberg Economics.
　　Slower growth | The U.S.s ISM services index has been in expansionary territory for 127 of 129 months, but all major components except for supplier-delivery delays showed weaker growth in October, an indication of supply-chain tightness.

France Posts Record New Virus Cases as Minister Warns of ‘Violent’ Second Wave

Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis.To get more news about WikiFX, you can visit wikifx official website.
　　France posted a record number of new virus cases, 58,046, as the nations health minister warned of a “violent” second wave of the illness sweeping the country.
　　France is also facing a surge in intensive care patients, Health Minister Olivier Veran said at a briefing on Thursday. Virus patients now account for more than 85% of French hospitals initial intensive-care capacity. Another 363 people died from the virus, bringing the total to 39,037, French public health agency figures showed.
　　Europe is battling a new surge in the virus, with German Chancellor Angela Merkel and French Prime Minister Jean Castex discussing the epidemic in a video conference on Thursday. France started a second lockdown last week, with limits on movement and closures of some stores. Paris is also shutting down all food-delivery and takeout services between 10 p.m. and 6 a.m., as well as banning alcohol sales and public drinking.
　　The French economy will shrink 11% in 2020, based on the lockdown ending on Dec. 1 and a gradual recovery in activity afterwards, Finance Minister Bruno Le Maire said on Wednesday.

Trump's Weaker Dollar Arrives on Cue to Help Biden

John Authers is a senior editor for markets. Before Bloomberg, he spent 29 years with the Financial Times, where he was head of the Lex Column and chief markets commentator. He is the author of “The Fearful Rise of Markets” and other books.To get more news about WikiFX, you can visit wikifx official website.
　　To get John Authers' newsletter delivered directly to your inbox, sign up here.
　　Counting Votes, and Selling Dollars
　　Like many people, I have Georgia on my mind at the time of writing. The big set piece that we could see coming years ago, the November Federal Open Market Committee meeting, came and went with almost no market reaction. Instead, the U.S. election, and the growing probability that Georgia of all places will deliver the presidency to Joe Biden, has dominated discussion throughout the day. Just like the last election, it has prompted a surge in risk assets, as there is relief that the election is over — even though, just as in 2016, the policy that will likely result is very different from what had been expected.
　　The moves across markets are unambiguously “risk on.” Risk assets are doing well across the board. However, in both bonds and equity markets, the reaction remains within the recent ranges. So lets focus on the exceptions, which are in the zero-sum world of foreign exchange.
　　According to Bloombergs broad dollar index, the action of this week has brought the U.S. currency to its weakest in 30 months:
　　Donald Trump consistently wanted a weaker dollar, and was aggrieved by the currencys upswing from the summer of 2018 onward. It looks as though a weaker dollar, bringing with it help for exporters, is arriving just on cue to help a possible President Biden. A stronger currency did boost the performance of U.S. equities compared to the rest of the world. For the last two years, however, that outperformance has been mostly due to the remarkable U.S. tech industry. With a weakening dollar, as last seen in 2017, non-U.S. stocks have a chance to outperform:
　　The Trump era was particularly tough for emerging market currencies. JPMorgans emerging market FX index had at one point dropped more than 20% against the dollar since election day in 2016. On Thursday, it surpassed its 200-day moving average for the first time in more than a year. For now, markets are operating on the belief that a Biden administration hemmed in by congressional gridlock is just what emerging market currencies need:
　　This could be positive, as devaluations on this scale usually leave strong GDP growth in their wake. They are also very unusual. Research from the Institute of International Finance suggests that Argentina and Brazil in particular should be well placed:
　　Meanwhile, the strategy team at Citigroup Inc. ran the cross-correlations between emerging market equities and a weak dollar. This exercise also reveals that Brazil should do particularly well. Japan, still treated by markets as though it is totally reliant on exporters, does badly from a weak dollar:
The most important factor boosting emerging markets is simply that the event risk of the U.S. election is now behind us, and so particularly risky assets can now rally. Dirk Willer of Citi commented in a note that this behavior is reminiscent of an emerging market election: “The underlying reason is that risk had been reduced before the event, leading to a (minor) market pull-back. And, as we had stated prior to the election, after the event goes away, risk markets go up, irrespective of the actual outcome.” To underline this, some of the worlds best performing assets since Wednesday night have included short-dated bonds from Brazil and Egypt, which at least in theory should barely be affected by American politics. As Willer put it: “This illustrates that investors just wanted to make sure that VIX is not exploding higher on Election Day, only to then put on their favorite trades that they always wanted to have on the books in the first place.”
　　Some of the market action can be dismissed much this way; it is selling the rumor and buying the news. If the argument that gridlock will mean more protracted easy money from the Fed is valid, however, and other countries become more fiscally aggressive, that should mean a weaker dollar. And that should buoy the emerging markets.

US Stock Market Overview

US stocks were mixed on Friday following a stronger than expected payroll report. Sectors were mixed, with technology and healthcare rising, and energy and real estate underperforming. The dollar hit a fresh 2-month low on Friday, which helped buoy gold and silver prices. Oil prices dropped by nearly 4%, which weighed on energy shares. The US election results moved closer to declaring a winner, as Vice President Biden took the lead in Pennsylvania, Nevada, and Georgia. President Trump was quiet on Friday but did a press conference on Thursday where he accused the system of fraud and said that the Democrats were attempting to steal the election from him. The VIX volatility index, which measures volatility on the “at the money” strike prices on the S&P 500 index, dropped 33% for the week, settling near 25.To get more news about WikiFX, you can visit wikifx official website.
　　Payrolls Rise More than Expected
　　US nonfarm payrolls increased by 638,000 according to the Labor Department. This is compared to a 530,000 increase expected. The unemployment rate was at 6.9%, compared to expectations that it would be edged down to 7.7%. The September level of 7.9% was unchanged. The decline in the unemployment rate came despite an uptick in the labor force participation rate that rose 0.3 percentage points to 61.7%. An alternative measure that includes discouraged workers and those holding part-time jobs for economic reasons also fell, to 12.1% from 12.8% a month ago.
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　　The Household survey showed a robust 2.24 million increase in payrolls. Octobers gains would have been even better if not for the loss of 147,000 Census workers that contributed to an overall fall of 268,000 in government jobs. The biggest job gains came in the hardest-hit sector during the pandemic, as leisure and hospitality jumped by 271,000. Of that total, bars and restaurants increased 192,000.

Brexit Talks Continue But Johnson and EU Warn of Big Differences

U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen used a phone call on Saturday to plot the way forward toward a Brexit deal, but said that large differences still need to be bridged if there is to be an agreement.To get more news about WikiFX, you can visit wikifx official website.
　　The prime minister and the European Unions chief official will now allow their negotiators --David Frost for the U.K. and Michel Barnier for the EU -- to resume trade talks in London, in what a U.K. spokesman described as a redoubling of efforts. They had been paused since Thursday to enable the two sides to take stock.
　　“Some progress has been made, but large differences remain especially on level playing field and fisheries,” von der Leyen said in a Tweet. “Our teams will continue working hard next week. We will remain in close contact in the next days.”
　　Both the EU and U.K. have previously indicated that Nov. 15 is the very last moment a deal can be done if it is to be ratified by their respective parliaments before the post-Brexit transition period ends on Dec. 31 and the U.K. formally leaves the European single market.
　　A statement from the U.K. echoed both the determination and the difficulties. Talks have been stuck for months on the key issues of the level playing field for business and access to British fishing waters.
　　Prime Minister @BorisJohnson and Commission President @vonderleyen spoke today about our negotiations with the EU.
　　My talks with @MichelBarnier will continue in London on Monday. pic.twitter.com/BfmJm7oVFD
　　— David Frost (@DavidGHFrost) November 7, 2020
　　“The Prime Minister set out that, while some progress had been made in recent discussions, significant differences remain in a number of areas, including the so-called level playing field and fish,” a U.K. government spokesperson said. Johnson and von der Leyen “agreed that their negotiating teams would continue talks in London next week, beginning on Monday, in order to redouble efforts to reach a deal,” the spokesperson said.
　　After 14 straight days of negotiations, the two sides offered a downbeat assessment earlier this week on the state of play, with each blaming the other for the lack of progress. The talks are stuck on three big issues: the so-called level playing field for business, access to British fishing waters and how any potential deal is enforced.

U.S Mortgage Rates Fall to a 12th Low for the Year

Mortgage rates fell to yet another all-time low in the week ending 5th November. Following a 1 basis point rise in the week prior, the 30-year fixed rate declined by 3 basis point to 2.78%. It was the 12th record low of the year..To get more news about WikiFX, you can visit wikifx official website.
　　Compared to this time last year, 30-year fixed rates were down by 91 basis points.
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　　30-year fixed rates were also down by 216 basis points since November 2018s most recent peak of 4.94%.
　　Economic Data from the Week
　　Economic data was on the heavier side in the 1st half of the week.
　　Key stats included the markets preferred ISM private sector PMIs and ADP Nonfarm Employment figures for October.
　　It was another mixed bag on the data front.
　　Manufacturing sector activity saw a further pickup in October, with the ISM Manufacturing PMI rising from 53.3 to 53.4.
　　The all-important ISM Services PMI fell from 57.8 to 56.6, however, which was somewhat disappointing.
　　ADP nonfarm employment change figures also disappointed. A 365k increase in October fell well short of Septembers 749k rise and a forecasted 650k increase.
　　While there were plenty of stats to consider, the U.S Presidential Election was the main event of the week.
　　A projected Joe Biden victory and a Republican hold of the Senate drove expectations of further monetary policy easing.
　　Policy gridlock on Capitol Hills is expected to place the onus on the FED to deliver support for the economic recovery.
　　There were also concerns over how Biden will influence, particularly with Biden unlikely to deliver planned infrastructure spending to support the economy.
Average interest rates for 30-year fixed, backed by the FHA, decreased from 3.14% to 3.08%. Points fell from 0.35 to 0.26 (incl. origination fee) for 80% LTV loans.
　　Average interest rates for 30-year fixed with conforming loan balances increased from 3.00% to 3.01%. Points rose from 0.35 to 0.38 (incl. origination fee) for 80% LTV loans.
　　Average 30-year rates for jumbo loan balances decreased from 3.28% to 3.18%. Points decreased from 0.31 to 0.30 (incl. origination fee) for 80% LTV loans.
　　Weekly figures released by the Mortgage Bankers Association showed that the Market Composite Index, which is a measure of mortgage loan application volume, increased by 3.8% in the week ending 30th October. In the week prior, the index had risen by 1.7%.
　　The Refinance Index increased by 6% and was 88% higher than the same week a year ago. In the previous week, the index had risen by 3%.
　　The refinance share of mortgage activity rose from 66.7% to 68.7%. In the week prior, the share had increased from 66.1% to 66.7%.

Have you partaken in WOW Harvest Festival 2020 holiday? If not, from now until Oct. 6 you can enjoy this holiday for food and fireworks. What's more, completing Honoring a Hero quest to honor fallen heroes will also gain you Bounty of the Harvest and other reward. To get more news about how safe is it to buy gold in wow classic, you can visit lootwowgold official website.

WOW Harvest Festival 2020 with Honoring a Hero live until Oct 6

Harvest Festival 2020 has been live now and will last until Oct. 6. During this period, Alliance and Horde players can complete Honoring a Hero quest to get Bounty of the Harvest reward that will be mailed to you a few days after finishing the quest, and a choice of Anxious Spiritshard, Forlorn Spiritshard, Peaceful Spiritshard, or Vengeful Spiritshard.
1. Horde
Horde players should place Grom's Tribute at Grom's Monument in the Demon Fall Canyon of Ashenvale in order to honor Grom Hellscream. After turning the quest to Javnir Nashak, you will receive The Horde's Hellscream book written to honor the fallen hero.
2. Alliance
Alliance players should place Uther's Tribute at Uther's Tomb in Western Plaguelands in order to honor Uther Lightbringer. After turning the quest to Wagner Hammerstrike, you will receive For the Light! book written to honor the fallen hero.         

It has been confirmed that Blizzard gear store has been revamped with many new items, including Warchief Thrall statue, Collector's Edition pin, two desk mats and more. Read details below and purchase them now!To get more news about WoW Classic Gold for Sale, you can visit lootwowgold official website.

Buy WOW Warchief Thrall statue from Blizzard gear store

Blizzard has updated their gear store by adding Warchief Thrall statue. This statue has two different versions, including Limited Edition and Premium. We have learned that Warchief Thrall statue draws upon looks throughout Thrall's history, including elements from Warcraft III, his time as Warchief in early Warcraft, and his latest BFA model. And it will be a highlight of any World Of Warcraft collection. If you want, click the following links to purchase:
Following WOW Warchief Thrall statue, Blizzard also adds more items themed on Shadowlands to their gear store. And now you can be able to buy the following new items from Blizzard gear store, including:         

Like every expansion since, World of Warcraft received a variety of updates as the game progressed, introducing new content and features, as well as advancing the story in the world.To get more news about buy WoW gold Classic, you can visit lootwowgold official website.

In order to preserve the feel of the original game, Blizzard are taking a similar approach with WoW Classic. The game launched in roughly the same state as vanilla WoW was following its own release, and they’ll be rolling out extra content in various stages, following more or less the same order as the original so as to preserve the intended progression.

The game has recently entered Phase 3 of that plan, with the first Battlegrounds – Warsong Gulch and Alterac Valley – having been released in December. On the PvE side of things, Phase 3 also promised the release of the Blackwing Lair raid, as well as the arrival of the Darkmoon Faire, and Blizzard have now announced when these can be expected.

The Blackwing Lair attunement quest, which players will have to complete in order to enter the raid, will arrive on January 10. The raid itself is set to be released on February 12, going live simultaneously for all realms at 3 PM PST / 6 PM EST / 11 PM GMT.

This represents a break from tradition for Blizzard, who in the retail game have always unlocked new raids at different times for North America, Europe, and Asia. This has long been a point of contention for those who participate in or follow the race for the world first completion in a new raid, but for Blackwing Lair it seems everyone will start on a level footing. Whether Blizzard might consider making the same change for retail in the future remains to be seen.

The other big news is the arrival of the Darkmoon Faire, which is a world event offering games, loot, and more – including the much sought-after Darkmoon Decks. The Faire will set up in Mulgore and Elwyn Forest, with the festivities opening on February 10.

Meanwhile, Blizzard have also introduced level 50 class quests, which offer a choice of powerful rare items when completed, while various faction vendors will now offer the reputation rewards that were introduced in vanilla WoW’s patches 1.6 and 1.7. Duke Hydraxis will also now offer Eternal Quintessence to players who have completed “Hands of the Enemy” and reached Revered status with Hydraxian Waterlords.