High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest...
USD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. CAD/CHF Short Minimum entry requirements: • Tap into area of value. •...
On the 4 hour chart, we can see that the price has been ranging between the 151.00 support and the 151.92 resistance as the risk of an intervention put a lid on further gains. The price recently rallied back into the resistance and it’s now pressing on it threatening a breakout. Even if we get a breakout, it would be better to wait for the US CPI report tomorrow
USD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. AUD/NZD Short Minimum entry requirements: • 1H impulse down below...
Gold is ending the week in unchartered territory as traders look to hedge against a further escalation of tensions between Israel and Iran. Earlier this week at least eleven Iranian people were killed, including a senior commander of the Islamic Revolutionary Guard Corps, with Iran now vowing to take retaliatory action against Israel. According to newspaper...
No change in GBP/USD’s outlook and intraday bias stays neutral. On the downside, decisive break of 1.2517/31 support zone will suggest that rise from 1.2032has completed at 1.2891already, and turn near term outlook bearish. On the upside, however, firm break of 1.2672 will suggest that fall from 1.2892 has completed at 1.2537 Intraday bias will be turned back to...
Logan, saying that it’s much too soon to think about cutting interest rates in the wake of the upside risk to inflation. This, in turn, forced investors to further scale back their expectations for the total number of rate cuts in 2024 to two as against three projected by the Fed, pushing the US Treasury bond yields higher across the board. The rate-sensitive...
The US dollar eased slightly after the US published strong jobs numbers on Friday. According to the Bureau of Labor Statistics (BLS), the economy created over 303k jobs in March, higher than last month’s 270k. The figure was higher than the median estimate of 212k. Additional data revealed that the unemployment rate retreated from 3.9% to 3.8% while the...
GBP/USD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. NZD/USD Short Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates...
On the 1 hour chart, we can see more closely the recent price action with the pair now trading at the support zone. If the price were to break above the black counter-trendline, we can expect the buyers to gain even more conviction and increase the bullish momentum, although a lot will depend on the US NFP report today as strong figures across the board will likely trigger
EUR/USD Long Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. EUR/CAD Long Minimum entry requirements: • If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it. USD/CHF Short Minimum entry...
Silver remain upward biased as depicted by successive series of higher highs and higher
In the bigger picture, correction from 151.81 (2023) high could have completed at 140.25 already. Rise from 127.20 (2023 low), as part of the long term up trend, is probably ready to resume. Decisive break of 151.93 resistance (2022 high) will confirm this bullish case. Next medium term target will be 61.8% projection of 127.22 to 151.88 from 140.22 at 155.21 This...
The Hamburg Commercial Bank (HCOB) and S&P Global released the final estimates of the March Services and Composite Producing Managers Index (PMI), which indicated a subtle yet pivotal shift in the services sector's trajectory. The HCOB Germany Services PMI edged up to 50.1 from 48.3 in February. The survey's findings of sustained job creation and strategic hiring,...
The US will also publish the final estimate of Q4 GDP data. In its last report, the statistics agency said that the economy expanded by 3.2% in Q4 after growing to 4.9% in the previous month. The US will publish this week’s initial and continuing jobless claims. The most important data of the week will be the US personal consumption expenditure (PCE) report set...
The 14-period Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, indicating indecisiveness among investors. A downside move below February 22 low at 1.3442 would expose the asset to February 9 low at 1.3423. A breakdown below the latter would extend downside towards January 15 low at 1.3383 On the flip side, the Loonie asset would observe a...
This opens the door to this currency pair to advance well above $1.2667, with room to rise as high as $1.2720 without reaching another resistance level. So, I see the best potential opportunity today as a long trade above $1.2667, but a bullish signal is needed to trigger entry – ideally this would be two consecutive higher closes above $1.2662 during today’s...