A "divergence" in a trading context usually refers to a situation where the price of an asset and an indicator, such as a technical indicator like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD), move in opposite directions. This can be seen as a potential signal of a change in the current trend. If you believe that there is a...
Recent Price Movement: The USD/CAD pair has experienced some upward movement during the Asian session after a steep decline the previous day. It is currently trading around the 1.3750-1.3755 region, up just over 0.10% for the day. The pair had recently hit a one-week low near the 1.3735 level. Market Drivers and Influences: The release of the Non-Farm Payrolls...
Bullish Momentum: EUR/USD experienced a bullish trend, achieving its highest daily close in a week, surpassing the 1.0600 level on Monday. Risk Sentiment: However, the pair's upward movement was limited due to a negative shift in risk sentiment, which affected its performance on Tuesday. German Inflation Data: Even though the German Consumer Price Index (CPI)...
a blockchain interoperability firm, to integrate Lido DAO's wrapped stETH (wstETH) token into its Omichain Fungible Token (OFT) standard is generating interest within the Lido DAO community. If this proposal is accepted and put to a vote, it could significantly enhance the cross-chain interoperability of wstETH, making it accessible across four blockchain...
NZD/USD Rebounds from Year-to-Date Low Despite Economic Data In recent trading, the NZD/USD currency pair has managed to rebound from its year-to-date low of 0.5772, and it is currently trading around 0.5830 during the Asian session on Friday. The pair had dipped to its lowest level on Thursday since November 2022, primarily due to the New Zealand Dollar (NZD)...
EUR/USD currency pair's recent performance and the factors influencing its movement. Here's a summary of the key points: EUR/USD Decline: The EUR/USD pair has experienced a decline for two consecutive days and has fallen below the 1.0600 level. This drop is attributed to a stronger US Dollar. German IFO Business Survey: The German IFO Business Survey showed...
Divergence is a common technical analysis tool used to identify potential trend reversals or trend strengths. It can be either positive (bullish) or negative (bearish). Positive divergence occurs when the price makes a lower low, but an oscillator (like the Relative Strength Index or Stochastic Oscillator) makes a higher low. Negative divergence is the opposite,...
Gann Fan Theory is a technical analysis tool used by traders and investors to identify potential price levels and trends in financial markets. It's based on the work of W.D. Gann, a famous trader and analyst. In this theory, specific angles and price levels are used to identify potential support and resistance areas. 1. Market Trend: The first thing to...
The USD/CHF pair reversed a two-day losing streak during the early European session on Friday. It is currently trading near 0.8927, reflecting a 0.15% increase on the day. The escalating geopolitical tensions between Israel and Hamas have contributed to the strengthening of the Swiss Franc (CHF), which is often considered a safe-haven currency in times of...
The Australian Dollar (AUD) has been facing losses against the US Dollar (USD) due to mixed employment data from the Australian Bureau of Statistics. This decline comes after a two-day winning streak, partly influenced by a speech from Reserve Bank of Australia (RBA) Governor Michele Bullock. In September, the Employment Change dropped more than expected,...
Gold level to watch 1955 The price of gold (XAU/USD) recently reached a three-week high, hovering around the $1,932-1,933 range. This surge was attributed to the escalating conflict between Israel and Hamas, which led investors to seek refuge in safe-haven assets like gold. Additionally, the belief that the Federal Reserve (Fed) is nearing the end of its cycle of...
Here's a breakdown of the key factors affecting the pair: USD Weakness: The USD is under selling pressure, and this could be due to softer economic data and potentially dovish comments from Federal Reserve officials. Higher inflation expectations and upbeat inflation data suggest the possibility of a rate hike by the Federal Reserve. However, any hints of a more...
financial news update or analysis related to the USD/CAD currency pair. Here's a summary of the key points: The USD/CAD pair had a strong move up to the 1.3700 level but has since edged lower during the Asian session, trading around the 1.3680-1.3675 range. Factors affecting the pair include a modest increase in Crude Oil prices, which supports the Canadian...
The EUR/USD pair has been trading with a mild positive bias, reaching a two-and-a-half-week peak near the 1.0630 region. This positive movement can be attributed to several factors: Weaker US Dollar (USD): The USD has been on the defensive due to reduced expectations for more interest rate hikes by the Federal Reserve (Fed). When interest rate hike expectations...
The EUR/USD currency pair is trading in a positive zone near 1.0610 during the early Asian session on Wednesday. This positive momentum is mainly attributed to the continued correction in the US Dollar (USD), driven by dovish remarks from Federal Reserve (Fed) officials. Several Fed policymakers have made dovish-leaning comments, expressing concerns that elevated...
this information regarding the Israel-Palestinian conflict and its potential impact on the markets. Geopolitical events, especially those in the Middle East, have historically had a significant influence on commodity prices, including oil and gold. Oil Prices: The rise in oil prices during geopolitical conflicts in the GCC region is a common phenomenon. This is...
the EUR/JPY currency pair based on recent price movements and key support and resistance levels. Here's a breakdown of the analysis: Recent Price Movement: On Friday, EUR/JPY experienced solid gains of more than 0.90%. This gain was attributed to a sharp rally in EUR/USD, which led EUR/JPY to reach a daily high of 1.0600. As a result, EUR/JPY climbed to a...
Bitcoin price takes a hit as US Nonfarm Payrolls for September nearly double expectations, rising by 336,000 Bitcoin price had a rather negative initial reaction to the release of the US Nonfarm Payrolls for the month of September. Beating wide-margin market expectations, the jobs report highlighted the addition of about 336,000 jobs against the forecast of...