Usdjpy On the 1 hour chart, we can see more closely the price action inside the channel with the price now close to a level where we got rejections from in the past few days. More aggressive traders might want to trade either a rejection from the level or a breakout to the upside, but ultimately the best levels, from a risk to reward perspective, are the...
The USDCHF fell below a KEY FLOOR LEVEL that I have been monitoring from a technical perspective at 0.86048. That break opened the door for further downside momentum the price has since fallen below its 200 bar moving average on the 4-hour chart at 0.8573 (see chart below), and the 38.2% retracement of the move up from the December low at 0.85765 Staying below...
The US Dollar Index (DXY) might find its catalyst this Wednesday.dxy fall more because of FOMC For nearly two weeks now it has been unable to trade away from both the 55-day (103.03) and the 200-day (103.54) Simple Moving Averages despite several false breaks and both MAs getting all chopped up. Although the Fed meeting this Wednesday is unlikely to usher in any...
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the...
Bring on the pain. Tech shares are being smacked in European morning trade, as S&P 500 futures and Nasdaq futures are sinking lower on the session. The former is down 0.4% while the latter is down 1.4% on the day now. There was a slight respite as European traders got to their desk today. However, that has quickly turned ugly in the last half-hour: S&P index lower...
Nadusd Business Confidence report for New Zealand shows a positive change in business outlook, with a rise to 36.5 in January from the previous reading of 33.3. This suggests an improvement in the sentiment among businesses regarding the economic environment. However, the ANZ Activity Outlook, which measures expectations for firms' own activity, registered a...
gold now bullish More today because of fomc Gold comes under some selling pressure following the overnight pullback from a two-week top, around the $2,047-2,049 area, and remains depressed heading into the European session on Wednesday. Investors further scaled back their expectations for an early interest rate cut by the Federal Reserve (Fed) after the JOLTS...
January has been a mixed month for Bitcoin. The coin jumped to a multi-year high of $49,010 after the SEC gave the green light for eleven spot ETFs. This was an important move because it took Bitcoin mainstream and made it available to institutional investors. Bitcoin then retreated sharply as investors sold the ETF news. It moved from $49,070 to a low of $38,510...
The EUR/USD pair moved sideways after Eurostat published better-than-expected economic numbers on Tuesday. The report revealed that the economy avoided a recession narrowly in Q4 as it stagnated. It expanded by 0.1% on a YoY basis, higher than the expected 0.0%. In Spain, the economy expanded by 2.0% in Q4 while in France, it rose by just 0.6%. The other important...
GBP/JPY is trading sideways just below the Tenkan-Sen level at 187.72 dot. If buyers lift the exchange rate above the Tenkan Sen, that will open the door to challenging the January 23 high at 188.91, but firstly they would need to reclaim 188.00. On the flip side, if sellers step in and drag prices below the January 30 low of 186.41, that will open the door to...
gbpusd confirm analysis of buy soon gbpusd buy mare than expected is going to be a really busy one with the FOMC rate decision and lots of economic data on the agenda. We begin today with the US Job Openings and the US Consumer Confidence reports. Tomorrow we will see the US Employment Cost Index and the ADP data before the FOMC rate decision later in the day On...
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...
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...
Eurgbp The indicators on the daily chart are depicting a bear-dominant market. The Relative Strength Index (RSI) is seen to be on a downward path, maintaining its location in the negative sector pointing towards an ongoing bearish momentum.eurgbp lower more than expected Concurrently, the Moving Average Convergence Divergence (MACD) indicators display an...
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...
Dow Jones The index is drifting lower from its record high seen on Monday, but with no sign yet of a more significant move lower.The continued barrage of earnings may act to drive the price downwards, in which case last week’s lows around 37,200 may provide support. Below this, the 50-day simple moving average (SMA) becomes the next area to watch. A close back...