Forex

Key Highlights Gold prices dropped toward the $1,970 support before the bulls appeared. A key bearish trend line is forming with resistance near $2,036 on the 4-hour chart. Crude oil prices started a recovery wave above the $71.20 resistance. AUD/USD rallied and cleared the 0.6700 resistance zone. Gold Price Technical Analysis Gold failed to continue

Share: Gold manages to halt the pullback from its recent record high But rebound meets strong resistance at important ascending trendline Momentum indicators suggest that positive momentum is fading Gold had been in a steep uptrend since November 10, recording a fresh all-time high of 2,144 before experiencing a solid correction. Although the bulls attempted

Hedging in forex is a risk management strategy used by traders to minimize or offset potential losses from adverse price movements in the currency market. It involves taking opposite positions in related currency pairs or markets to protect against potential losses. Foreign exchange (forex) is the process of trading one currency for another currency. It

Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank’s communication. These changes

Not the most thrilling start to the week but that’s to be expected given the number of major events over the last few sessions and the absence of anything significant today. The second half of last week was quite the ride, with the Fed going further than many expected on rate cuts for next year,

Since early this year, the bullish trend in USD/JPY has been particularly robust as the Bank of Japan has remained very accommodative while the FED policy has been extremely restrictive, putting this pair near all-time highs around 152. However, statements by BOJ governor Ueda about exiting the loose monetary policy boosted the JPY, which sent

The Bank of Japan has begun a 2-day policy meeting, which is expected to signal under what conditions the Bank will finally begin to move away from its ultra-loose monetary policy. Forex Brokers We Recommend in Your Region See full brokers list The Bank of Japan has begun its latest policy meeting, with decision output

Daily Pivots: (S1) 0.9445; (P) 0.9493; (R1) 0.9531; More… Intraday bias in EUR/CHF stays neutral and consolidation from 0.9402 could extend further. But deeper decline is expected with 0.9543 resistance intact. On the downside, firm break of 0.9407 will confirm larger down trend resumption. Next target is 61.8% projection of 0.9995 to 0.9416 from 0.9683

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange. Source link

Forex Brokers We Recommend in Your Region See full brokers list   Bitcoin had a little bit of a pullback during the week, but it looks as if the $40,000 level will continue to be important. It has held as nice support, and I think at this point in time there will be value hunters

Forex Brokers We Recommend in Your Region See full brokers list   This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching. The first part of my forecast is based upon my research of the past 20 years of Forex prices, which show that the following methodologies

Market Week Ahead: Gold Regains $2k, GBP/USD, EUR/USD Rally as USD Slides New to FX, Looking for an Edge? Download our Complimentary FX Starter Pack Below Recommended by Nick Cawley Recommended by Nick Cawley FX Trading Starter Pack Fed Stays Put, Sees Three Rate Cuts in 2024, Gold Prices Soar as Yields Plunge The Federal

The GBP/USD struck a high around the 1.27960 mark last Thursday and came within sight of the value again on Friday, this before a reversal lower took place as the weekend approached. The GBP/USD will begin tomorrow’s trading around the 1.26793 ratio. Traders who were fortunate enough to be wagering on upside momentum last week

Forex Brokers We Recommend in Your Region See full brokers list   The difference between success and failure in Forex / CFD trading is highly likely to depend on which assets you choose to trade each week and in which direction, and not on the methods you might use to determine trade entries and exits.

WTI Crude Oil fell to lows that challenged the 68.000 USD mark early on Wednesday of last week, the last time this price level for the commodity had been seen was in the last week of June 2023. However, as WTI Crude Oil slumped at this depth a reversal higher began to erupt. The move

The economic slump that has come with surging prices and higher rates looks like it is settling down now and again, but the negative numbers continue to come. This week we so some weak figures from Europe, China and the US, showing that the manufacturing activity is still in recession and the situation is getting

AUD/USD’s rise from 0.6269 resumed last week and the break of medium term falling channel suggests that whole fall from 0.7156 has completed with three waves down to 0.6269. Initial bias stays on the upside this week. Further rise should be seen to 0.6894 resistance next. Meanwhile, near term outlook will stay cautiously bullish as

EUR/USD: Dovish Fed Reversal The fate of EUR/USD was determined by two events last week: the FOMC (Federal Open Market Committee) meeting of the US Federal Reserve and the meeting of the Governing Council of the European Central Bank (ECB), which took place a day later. As a result, the euro emerged victorious: for the

USD/CHF’s fall from 0.9111 continued last week and edged lower to 0.8629 last week. Nevertheless, with subsequent recovery, initial bias is neutral this week for consolidations first. Break of 0.8629 will resume the decline to retest 0.8551 key support level. However, break of 0.8819 will turn bias back to the upside for stronger rebound. In