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CIT

GBPUSD | Swing & Fundamental AnalysisFinally, the market has reacted after the decisions of the FED, BOC, BOE, ECB, BOJ, CPI, NFP, breaking free from a congestion phase. Today's data highlighted the resilience and strong growth of the American labor market, with inflation still below the 2% target. The possibility of a Fed rate cut in June is on the table, but remains uncertain; I strongly doubt it will happen in March or May. GBPUSD presents a bearish structure with an H4 candle that broke the entire structure, landing in the demand zone at the 1.262 level. Personally, I foresee a continuation to the downside, at least below 1.26, then retracing to the 50% Fibonacci level and consolidating in the reversal zone intersecting with the trendline, before continuing the downward trend towards the 1.2520 area as the final target. This is what I am currently observing at the H4 level. In summary, it's time to celebrate because after two weeks of sideways movement, today we've seen the first signs of momentum from the market. So, get ready for a spectacular start to the week with an acceleration from traders. Greetings and happy trading to everyone from Nicola.
Short
by Forex48_TradingAcademy
1
XLF shooting star top of channel $BAC $WFC $CIT $JPM $XLFtop of channel / ABC or WXY complete from march lows after triangle breakout in late oct/early november. shooting star weekly. please post and correct me but zooming out i think its 5-3-5 ABC for W (2009 low to jan 2018) into an X wave and now completed X within WXY of the X macro..startin Y down to finish macro X. August 20 $23P on $BAC for me but this thing might take longer than I expect considering W (within macro X of WXY from 09 low) went from jan 2018 - march 2020
AMEX:XLFShort
by Drunkmonk
9
CIT - DAILY CHART Hi, today we are going to talk about Citigroup and its current landscape. As nowadays we live in a consumerist society and access to a credit card has continually become easier to obtain, is reasonable to predict that the card debts are also going to rise too, as financial education isn't the strong point of U.S consumers, and are used to the debt culture. The heat up U.S economy put credit card companies in a more comfortable zone as the unemployment rate remains near to historic lows, which helps customers to keep up with their bills. However, the question that worth to be raised here is, if the 90 days past due card debt is probably surging to 2.01%, the highest level since 2010 amid a heated economy, what is going to happen with this type of debt, once the U.S economy make its first downward movement of correction and make harder for customers pay their credit card bills. Even with the credit card issuers tighten their credit standards, we can't be sure it's going to be enough to avoid a crisis on the sector, which could lead to a flood of bad debt, decline of new credit card issuance and other types of liabilities. This scenario could mean concerning news for Citigroup if the company doesn't progressively start to deploy the proper countermeasures for this scenario. Thank you for reading and leave your comments if you like. To have access to our exclusive contents, join the Traders Heaven today! Link Below. Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should be used or take it as financial advice.
C
by Igor-Silva