The USD and Gold futures fell as investors waited for two important economic reports USD and gold both fell today as investors waited for two important economic reports later this week. Tomorrow the US Q4 GDP report will be released and will be followed by the PCE report for December on Friday. On Thursday, the Commerce Department will release its initial GDP...
As per the preliminary consensus, the US economy grew at a slower pace of 2.1% after expanding 4.8% in the third quarter of 2023. A slower growth rate would undermine the argument supporting a restrictive interest rate policy atleast until second quarter ends.silver ready to jump The hopes for an interest rate-cut by the Federal Reserve (Fed) has already eased...
USDCAD is marginally bullish on the 1D technical outlook (RSI = 57.352, MACD = 0.001, ADX = 48.167) as it crossed over the 1D MA50 and is testing the 1D MA100 as Resistance. The key level is the 0.5 Fibonacci line, if crossed, we will buy and target the 0.382 Fibonacci (TP = 1.36400). The next buy will be on the 0.618 Fibonacci level targeting the bottom of the R1...
Crude oil will go up Big bullish trend as you see As shipping costs and supply chains get disrupted alongside higher oil prices, all of this risks stoking the inflation fire for the time being. In turn, major central banks will have to be rather careful in pushing too hard on any disinflation narrative. For now, the overall impact is still rather minimal I would...
What needs to be done, however, is to get above it 100-day moving average at 0.8673, and also the 38.3% retracement of the move down from the October 2023 hi. That little comes in at 0.8681. Get above both those levels and the bias increases more to the upside it in favor of the buyers. Find out all these details in the video above.
usdcad Furthermore, the preliminary US Gross Domestic Product Annualized report is scheduled for release on Thursday, with anticipated figures pointing to a 2.1% reading in the fourth quarter, down from the previous 4.8% reading. Should the actual US GDP align with these market expectations, there could be an increased probability of the Federal Reserve...
Gold rises despite the United States Bureau of Economic Analysis (BEA) has reported that the economy grew at a higher pace of 3.2% against 3% as anticipated by the market participants. In the July-September quarter, the Gross Domestic Product (GDP) rose strongly by 4.8%. An upbeat GDP data is expected to weaken the consensus argument advocating early interest...
Hello Traders, here is the full analysis. I expect the market to fall and short it from resistance, levels for SELL . GOOD LUCK! Great SELL opportunity CADJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about...
USD/JPY Long • If price impulses up above our area of interest on the one hour chart, then I'll be waiting for a subsequent tight two touch fifteen minute flag to form and then I'll filter the latter on the five minute chart and be looking to get long with either a risk entry within it if the flag is structured, or a reduced risk entry on the break of it if it's...
Gold prices stabilized as the market awaited the meeting of major central banks this week. After last week's decline, gold prices are stabilizing as the market awaits central banks' interest rate decisions and upcoming economic data with resistance currently located at $2,040. In case the resistance cannot be overcome, gold could be pushed towards the $2,005...
After last week's decline, gold prices are stabilizing as the market awaits central banks' interest rate decisions and upcoming economic data with resistance currently located at $2,040. In case the resistance cannot be overcome, gold could be pushed towards the $2,005 support level. Currently, gold is slightly down to $2,027. In the long term, gold will be...
GBPJPY is on a bullish 1D technical outlook (RSI = 65.529, MACD = 1.210, ADX = 62.251), which is a natural consequence of the strong 3 week rally since the January 2nd bottom. However this rally appears to have come to an end as not only has the price hit and got rejected twice on the R1 level (188.660) but the 1D RSI has also reach the top of its six month...
XAUUSD price approaches the 2036-2040 resistance zone. If the price cannot break through the 2040 level, it is expected that in the short term the price will decrease. Consider selling in the red zone. >>GooD Luck 😊 ❤️ Like and subscribe to never miss a new idea!
Gold prices decreased slightly at the beginning of the trading session in the US. The precious metals bullish trend was limited earlier this year by better economic data. The market has reduced expectations that the Federal Reserve (Fed) will soon cut interest rates. According to the US Department of Commerce, retail sales increased 0.6% in December 2023 compared...
EUR/NZD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a subsequent impulse back up on the one hour chart followed by a tight two touch fifteen minute flag and then I'll filter the latter on the five minute chart and be looking to get long with either a risk entry within it if the...
GBPUSD is being rejected repeatedly at the top of the multimonth Channel Down but the 1D MA50 is still supporting it. However the squeeze has gotten to narrow and being on a neutral 1D technical setting (RSI = 50.057, MACD = 0.002, ADX = 25.323), we expect a bearish breakout soon below it. The similarities of the 1D RSI with last August, show that there is...
EURGBP broke a resistance line of a falling parallel channel after a test of a key horizontal support. I bought the pair on a retest of a broken trend line. I expect a pullback now at least to 0.8579 ❤️Please, support my work with like, thank you!❤️
Possible CADJPY trade scenario look for ltf confirmation if Direct entry taken manage risk properly 1 -2:3 RR Indicator based SMC approach. Follow and like for more setups.