The GBP/USD currency pair is aiming to re-test its two-month high of 1.2448 during the Asian session, as market sentiment remains optimistic. Despite expectations of the Federal Reserve (Fed) maintaining a steady monetary policy, the Cable is attracting bullish bets. The US Dollar Index (DXY) is currently defending the 102.20 support level, as the receding fears...
Many investors view Tesla solely as an automaker, but others see it as a company driving revolutionary innovation, comparable to technology firms and luxury goods manufacturers. In this article, we will examine Tesla's fundamentals and assess whether it is a worthwhile investment at current levels. Formerly known as Tesla Motors, Inc., the company designs,...
After experiencing substantial gains in the last couple of weeks, the precious metals market has started to settle down. Gold traders are looking for a new impetus from the US PCE inflation and Chinese PMIs. The silver market has seen a slower but more consistent upward trend, with bulls eventually aiming for $24.50. Precious metals have been consolidating this...
The GBP/USD pair is expected to continue its upward trend with the next noteworthy target at the 1.2400 region. In our analysis yesterday, we noted that despite the recent gains, there was no significant increase in the upward momentum. However, we also mentioned that there was still some room for GBP to rise to 1.2370 before the possibility of a pullback arose....
Today, market analysts will be closely observing the preliminary inflation readings for March in Germany and Spain. The first readings of the Consumer Price Index (CPI) are in the spotlight. The German figures are expected to garner greater interest, with a projected deceleration from 8.7% to 7.3% in the headline rate. The Spanish numbers have recently triggered...
Top Pullback Trading Strategies In this article, we will be discussing some of the most effective pullback trading strategies that can assist forex traders in identifying ideal entry points that align with the current trend. These strategies enable traders to take advantage of short-term price retracements, allowing them to navigate the volatile currency market...
The ECB's leadership in the "tightening race" allows us to expect a continued EUR/USD rally within the upward channel in the near future. The minimum target is the March high of 1.091, followed by a retest to the area of 1.10, where there was strong resistance to the sharp improvement in the macroeconomic backdrop in the United States at the beginning of February:...
After building a Double top near $2000, Gold's price pulled back to the $1960 region at a point of convergence with the 61.8% Fibonacci level, and our current thought is about a fresh Long setup to return to the value of $1990.
More than 60 percent of its value has been added to Bitcoin since the start of the year, and the past week was its greatest since December of 2020. While this is usually the time when investors brace for a pullback, there is good reason to assume that this is the start of a new bull market. The data can be extrapolated to show activity because blockchain is...
Meditation is an incredible tool that can help a trader in many ways, both emotionally and mentally. It can bring calmness to the chaos of the stock market and provide a sense of clarity that is often difficult to achieve. When you meditate, you foster mindfulness that can carry forward to your next task. This helps you to keep a clear focus on what you need to...
Forex traders are always looking for ways to improve their trading strategies and make better decisions when it comes to buying and selling currency pairs. One tool that can be helpful in this regard is the Alligator indicator. This technical indicator is designed to identify market trends and determine ideal entry and exit points based on the trend's strength. ...
Alphabet's stock has risen by 25 percent from its 52-week low, but the emergence of artificial intelligence ChatGPT poses a real challenge to the company's search engine. However, investors may not fully comprehend the nature of the company or overlook the reasons to invest in Alphabet's stock. Therefore, they should take a macroeconomic perspective when...
The pace of the pullback in gold prices has intensified following the announcement that First Citizens Bank has acquired Silicon Valley Bank (SVB). The rise in US Treasury yields and reduced demand from India are adding further downward pressure on the price of gold. Despite the current uptrend, a double TOP formation is posing a threat with the neckline at a key...
According to the latest updates, the Euro (EUR) has traded above the 1.08 mark against the US Dollar (USD). ING, a prominent economic institution, predicts that the EUR/USD pair will steadily rise and reach the 1.10 level. Isabel Schnabel, a member of the European Central Bank (ECB) governing council, reinforced her hawkish stance during a recent statement....
The NZD/USD pair has shown signs of recovery after hitting a low of 0.6181, which was the result of the ongoing banking crisis causing nervousness in the market. The New Zealand dollar has struggled recently due to the impact of bank stress on risk appetites. However, positive news surrounding the Silicon Valley Bank (SVB) deal and the Federal Deposit Insurance...
The GBP/USD pair has once again hit an intraday high as bullish sentiment continues for a second day. Optimism around Brexit and hawkish comments from Bank of England Governor Andrew Bailey have propelled the British Pound. Meanwhile, the US Dollar is being weighed down by fears of banking fallouts, mixed Federal Reserve talks, and downbeat yields. GBP/USD is...
Like many other companies, Apple has experienced fluctuations in its stock value over the past few years. The COVID-19 pandemic led to a surge in technology stocks as people began investing in home offices and entertainment, causing Apple's stock to reach a record high of $180.68 in January 2022. However, macroeconomic issues have since caused consumer spending to...
According to economists at Commerzbank, the Euro (EUR) is expected to gain some value against the US Dollar (USD) towards the end of the year as the US moves closer to rate cuts. The Federal Reserve is expected to commence cutting rates again in early 2024, which is likely to reduce the demand for the USD's 'safe haven' property as market concerns subside. As a...