Earlier, survey data showed that business activity in the euro zone unexpectedly worsened this month as the recession spread across the region. A survey on October 24 showed British businesses reported further contraction this month, with cost pressures continuing to ease and risks of recession pointed to.
USD/CHF Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will...
The Australian dollar is currently down to 0.6310, with the next key supports at 0.6300 and then 0.6285. For buyers, the key immediate resistance is the 14-day EMA at 0.6347, with resistance at 0.6400 and 0.6429, the 23.6% Fibo level of the decline from July peak to September low. This week, markets will continue to wait for a series of PMI reports from...
UK employment figures recover slightly The UK unemployment rate continues to fall, with new jobless claims at 24,000, compared to the expected 230,000. The unemployment rate in August was 4.2%, slightly lower than the previous month's forecast of 4.3%. Britain's labor market is easing, another sign that monetary tightening is starting to have an impact on the...
EUR/USD was pressured in the European session by the conflict in the Middle East and the broad recovery of the USD and US government bond yields. The next key event is the EU Consumer Sentiment Report. EUR/USD is currently rising for the 3rd day in the past 4 days and is above the 20-day MA. Technical indicators on the daily chart show bullish signals, with RSI...
GBP/CHF Long • If price corrects and a tight forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this...
RBC economist Nathan Janzen stated that the Statistics Office`s estimate isn't extensively one-of-a-kind from RBC's estimate of 0.5% boom and is simplest barely decrease than the estimate of 1 .5% of BoC. Normally, forecasts of monetary recessions can be primarily based totally on traits such as: decreased GDP boom, decreased employment boom, decreased purchaser...
Following the BOJ`s announcement, the 10-yr JGB yield JP10YTN=JBTC declined 0.five foundation factor to 0.855%, in advance buying and selling unchanged from Monday's last stage of 0.86%, which become the very best on account that July 2013. Japanese yields were pulled better with the aid of using a surge in U.S. Treasury yields, with the benchmark 10-yr word...
Although the price movement of EURUSD on the H4 time frame technically has a bearish structure, the recent price movement has seen a bullish challenge to the horizontal resistance area at 1.06000. Further upside could be seen in intraday value areas such as the horizontal resistance area at 1.06680/1.07000 before a southward reversal occurs.
The USD/CHF pair snaps a two-day losing streak during the early European session on Friday. The pair currently trades near 0.8927, up 0.15% on the day. Meanwhile, the escalating geopolitical tension between Israel and Hamas might benefit to the safe-haven currency like Swiss Franc (CHF). The Swiss Trade surplus widened more than expected in September. Trade...
Since the beginning of October 2023, Bitcoin price has increased 8.3% and is approaching the psychological barrier at the 30,000 USD mark. Finance BankingBitcoin forecast next week: Approaching the 30,000 USD markDuong Lam • {Publishing date}Since the beginning of October 2023, Bitcoin price has increased by 8.3% and is approaching the psychological barrier at the...
GBP/CHF Short • If price impulses up above our area of value, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If...
AUD/USD struggles to maintain above 0.6300 after PBOC's decision to keep the lending base rate (LPR) unchanged. Selling pressure weighed heavily on the pair amid persistent risk-off sentiment due to escalating tensions in the Middle East. AUD/USD recovered from near the key support of 0.6285, but the overall bias remains bearish as the price remains below the...
Most Asian currencies rose slightly on Wednesday following news that China's economic growth was stronger than expected, although concerns about an escalation in the Israel-Hamas war limited gains. Fresh concerns about higher long-term US interest rates also persisted after stronger-than-expected September retail sales data, which markets fear could lead to...
CHF/JPY Short • If price impulses down, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any...
Chairman Jerome Powell said the Fed wants to keep interest rates unchanged at its next meeting, while leaving open the possibility of raising interest rates again in the future if policymakers see more signs of a resilient economy. . These comments confirm market expectations that the Fed will not raise interest rates at its October 31-November 1 meeting. He also...
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GBP/NZD Short • If price impulses down below our area of value, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan...