The euro has extended its losses on Friday. EUR/USD is trading at 1.0675 in the European session, down 0.59% on the day. The euro is down 1.17% this week and has dropped to its lowest level since May 1st. France’s inflation level fell to zero in May, confirming the preliminary estimate and down from the 0.5% gain in April. France is the eurozone’s second-largest...
Preferred direction: SELL Comment: The price did not approach the level of 1.09000 , at least in the first half of this week, and the euro quickly fell to 1.08000 . In the short term, the decline is likely to continue. An important point, of course, will be today's statistics from the US on GDP , the labor market, and so on. We consider two scenarios,...
Preferred direction: BUY Comment: The short-term strengthening of the US dollar's main competitors is relevant, and the New Zealand dollar is no exception. It should even be noted that this currency pair is among the top for short-term growth today. Strengthening of the NZDUSD is expected towards the level of 0.60713 , as well as in the case of the...
Preferred direction: BUY Comment: The current week will be the most intense compared to the previous one, as a number of important economic data are expected to be published. The focus will certainly be on the US CPI. Against this background, we still adhere to the buy priority for the Australian dollar and expect growth to the maximum level of 0.66460 ...
Federal Reserve Chair Jerome Powell expressed reservations about the trajectory of disinflation in the US during his recent remarks, stating, "My confidence in that is not as high as it was." Despite this, he indicated that further rate hikes were unlikely based on the data from the first quarter of the year. Powell's comments largely echoed those made during...
The Australian dollar has posted gains on Tuesday. AUD/USD is up 0.19%, trading at 0.6620 in the North American session at the time of writing. Australia’s wage growth for the first quarter is expected to remain unchanged. Wages rose 4.2% in the fourth quarter of 2023, the highest since 2009, with most categories showing increases. On a quarterly basis, wage...
xauusd trading around 2345 .. we are anticipating it to drop a bit towards 2320 mentioned area and then ftom there we can see again a rallly towards 2400 .. lets see good luck
According to my analysis and according to what you taught me, Tamas : Scenario 1 : If CPI comes negative on Wednesday, it could lead to deflation concerns, which might prompt the Federal Reserve to consider cutting interest rates to stimulate economic activity and prevent deflationary pressures. A negative CPI could indicate a decrease in the general price...
Today's focus: USDCAD Pattern – Heavy Resistance Support – 1.3514, 1.3454 Resistance – 1.3602 Hi, traders; thanks for tuning in for today's update. Today, we are looking at USDCAD daily. What are we discussing and asking today after looking at USDCAD? Will current heavy resistance contnue to block buyers? Does price have enough momentum in its current bull...
Preferred direction: BUY Comment: We actively continue to follow our previous bullish scenarios for this currency pair. In general, in the medium term, we expect a strengthening of the US currency , which the Japanese yen will feel the most painfully. Moreover, earlier we talked about the long term, and here it is unlikely that we will have to wait for the...
The New Zealand dollar has lost ground on Thursday. In the North American session, NZD/USD is trading at 0.6136, down 0.33%. On Friday, New Zealand releases the Manufacturing PMI. It was a busy day in the US, and this writer expected that retail sales would be the highlight of the day. In the end, it was the Producer Price Index which stole the show and gave the...
With the help of 'Retail Sales' & 'PPI' data, we've seen once again fundamentals come in & manipulate price towards our technical bias. Price getting closer to hitting our selling confirmation📉
📈 Let's delve into analyzing this forex currency pair for trading on lower timeframes. ⚡️ On the four-hour timeframe, after a fakeout below the 1.66909 line and a sharp decline along with a retest of the weekly support, we're now in a correction phase, engaging with the four-hour support. 🔍 Due to the ongoing bearish cycle, it's risky, but placing a trigger...
The Australian dollar remains close to the 0.66 line, where it has been for most of the week. In the North American session, AUD/USD is trading at 0.6620, up 0.21%. The business sector is not feeling very confident about the near-term outlook of the Australian economy. The NAB Business Confidence index dipped to zero in February, down from one in January but...
By re-examining the gold chart, we see that according to our expectations, gold continued to grow and has been able to grow up to $2008! Today we will have the important statistics of PPI, if the Actual rate is announced higher than expected rate, we can see the growth of the dollar index (DXY) and the fall of the gold price! In my opinion, it is possible that...
- I want to see a bullish session. - PPI and Prelim Consumer Sentiment news this afternoon which may cause a volatile session. - I want to see price target PDH, PWH and PML. - I believe price will trade to a discount of London session before going higher.
Hello friends, I hope you are well. We have the gold chart in the one-hour time frame. Yesterday we said that we will wait if the support zone is broken down, the next target is the zone (2005-2008). Now in this area, with the formation of candlestick patterns, it has moved upwards. The areas that are important for us are the bottom of the previous broken area...
Preferred direction: SELL Comment: Yesterday's CPI data practically allowed the US dollar to break through key local support/resistance levels and begin its growth. However, the market quickly ran to buy American currency, and in this case, the big money has no one to go to. In addition, the current pause may be associated with the next important data from...