Sterling was last 0.06% lower at $1.2598, but hovered near Friday's over two-month peak of $1.2615, on data last week showing that British companies unexpectedly reported a marginal return to growth in November after three months of contraction. "That indicates the resilience of the UK economy despite the very aggressive monetary policy tightening from the Bank of...
Elsewhere, the euro slipped 0.03% to $1.0930, but did not stray far from an over three-month peak of $1.09655 hit last week. A survey out last week showed the downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending.
Gold edged higher in the first Asian release. Research team Phillip Proof said in a commentary that there are certainly many people who believe the Fed has completed its energy bull cycle, noting gold rose to the key $2,000/oz level on Friday. The prospect that the Fed's tightening cycle could end could increase the appeal of the non-interest-bearing precious...
The Aussie was idling at $0.6556 AUDUSD, having been mostly rangebound between $0.6540 to $0.6570 overnight. It is up 0.5% for the week, but it still faces resistance at the 200-day moving average of $0.6590.Australian bonds also struggled this week. Three-year government bond yields (AU3YT=RR) surged 13 bps to 4.212%, while 10-year yields AU10Y rose 11 bps to 4.568%.
GBPUSD is a bit clearer as we can see a clear pattern of higher highs and higher lows this week. The question will be whether bulls have one more push to the upside and push Cable toward the 1.2600 handle. If we do break below the 50-day MA we have support at the 1.2400 mark and lower at the 1.2360 mark. A selloff ahead of the weekend may also be on the cards as...
The dollar index DXY, which measures the U.S. currency with six peers, eased 0.029% to 103.73, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. The index is down 2.8% for the month, on course for its weakest monthly performance in a year on rising expectations that the Federal Reserve is done raising interest rates and could...
World gold spot price is around 1,991.9 USD/ounce, down 0.92 USD/ounce compared to overnight. Gold futures price for February 2024 on the Comex New York floor is at 2,013.3 USD/ounce. However, experts commented that the decline in gold prices was stopped by expectations that the US Federal Reserve (Fed) had ended the cycle of raising interest rates. Lower interest...
Hey Traders! I believe AUDNZD has the potential to head further up to at least retest the previous area of resistance, nice wedge + double bottom confirmed should continue with the overall market trend.
The EUR/USD currency pair remains steady around 1.0900 as markets anticipate the release of Eurozone Purchasing Managers' Index (PMI) figures, with investors looking for signs of economic recovery in area. Upcoming data, expected to show manufacturing PMI at 43.4, services PMI at 48.1 and composite PMI at 46.8, could provide insight into the economic health of the...
Hi Everyone, it's been a while but I'll slowly get back at posting my trading ideas here. Today's setup is on AUDUSD. AUD has had a good rally with the US Dollar weakness, which is currently retracing and reaching a key level. My Setup takes into account the 50% Fibonacci retracement as well as 0.65200 area of previous resistance that could be tested as a...
Today is Thanksgiving Day, so gold prices will not fluctuate significantly. According to technical analysis, the H4 stochastic is decreasing, the H1 stochastic has also entered the overbought zone, so today we will surf to make good profits. TVC:GOLD SELL 1995-1997 TP1: 1990 TP2: 1987 SL : 2000 TVC:GOLD BUY 1985-1983 TP1: 1990 TP2: 1993 ...
Hey Traders! Broke out a recent wedge, I believe we could have a nice bullish rally to the next area of resistance market in white lines on the charts. JPY banks are closing for a bank holiday I suspect some power in other currency pairs against JPY. JPY is also on an 52 week low in the futures COT data.
The movement in the precious metal comes amid global economic sentiment hit by a weakening US dollar and speculation about a more dovish policy stance by the Federal Reserve. The Comex gold market has been fueled by these expectations. According to forecasts from CME's Fedwatch tool, there is about a one-third chance that the Federal Reserve will begin cutting...
Hey Traders! I believe GBPAUD has good potential for bearish pressure, The recent 15-minute head and shoulders pattern was broken typically meaning further bear momentum, however its also sitting at a 4h h&s neckline, if that breaks then very good confirmation for shorts, but there is a possibility that this gets respected and it will pullback. First, take a...
The euro to USD exchange rate increased 0.06% at 1.0946. The dollar fell to its lowest level in more than two months, falling deeper than last week as investors largely believed that the Federal Reserve The state has completed its rate hike cycle and is looking ahead to when it might begin cutting interest rates. According to CME's FedWatch, the market is...
The h1 stochastic frame chart has reached the 97 superbought zone, while on H4 it is stochastic There is a return but the momentum is not strong, the histogram is also getting shorter, on the daily chart Stochastic has reached the overbought area but the histogram is still short so today our strategy is the main SELL OANDA:XAUUSD SELL 1990-1992 TP1:...
Hey Traders! Okay this trade is against the overall market trend which is typically bad news, however we are sitting a important monthly pivot line 1.09434 in combination with the overbought RSI + the recent bearish harami candlestick formation. I believe should have a pullback towards the 20 MA which is around 60 pips, if that breaks then surely it will drop...
Nothing all too technica l besides the overextension that we have seen. Mostly a short-hunt in my opinion. I am mostly founding this short on the recent performance BINANCE:YFIUSDT had. For those who are new, YFI is a genius-shitcoin that once was deemed to be the next btc I guess? AFAIK there were no recent developments / implementations made but I stand to...