Forex

Gold starts a new bearish wave after record high A consolidation phase is likely; support at 1,970-1,990 Despite its rocket rally to a new record high of 2,144 last Monday, gold could not successfully remain above the pandemic-era 2,070 bar, which caused a negative trend reversal in 2022 and 2023. The precious metal has been

Daily Pivots: (S1) 0.6551; (P) 0.6585; (R1) 0.6613; More… Intraday bias in AUD/USD remains neutral for the moment. Risk will stay on the downside as long as 0.6689 resistance holds. Break of 0.6524 will resume the fall from 0.6689 short term top to 55 D EMA (now at 0.6496). Nevertheless, firm break of 0.6689 will

The EUR/USD pair shows signs of recovery, bouncing back from a three-week nadir of 1.0723, with trading levels rising to around 1.0760 during Monday’s Asian session. Source link

As WTI Crude Oil gets set to begin trading on Monday the commodity went into the weekend near a cash price of 71.360 USD per barrel. This price is near the lows Crude Oil touched on Wednesday of last week as the commodity struggled to attain any upwards mobility. A low last week was made

Day traders in the EUR/USD likely ran into a costly whipsaw last week if they continued to press ahead with buying positions, this while believing the currency Source link

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.

China CPI surprises to the downside Source link

On Friday we had some positive reports from the US, with the NFP figures showing that the employment sector remains in decent shape, while consumer confidence remains strong. This sent the dollar up again which made new highs on a few fronts, with Gold dipping below $2,000, although it closed the week above that round

USD/JPY’s fall from 151.89 accelerated to as low as 141.59 last week, but recovered after drawing support from 142.45 fibonacci level. Initial bias remains neutral this week for consolidations first. But recovery should be limited below 147.14 support turned resistance to bring another fall. On the downside, break of 141.59 and sustained trading below 142.45

EUR/USD’s fall from 1.1016 extended to as low as 1.0722 last week. Initial bias stays on the downside this week first. Sustained trading below 55 D EMA (now at 1.0770) will pave the way to retest 1.0447 support. On the upside, above 1.0816 minor resistance will turn intraday bias neutral first. In the bigger picture,

Stocks rallied from early losses this morning as traders weighed this morning’s jobs report and positive consumer sentiment data all of which pointed to which pointed to a soft landing. Futures markets pushed out the much hoped for first rate cut to next summer echoing some Fed official’s mantra of ‘higher rates for longer.’ Predictably,

The diptych of today’s US payrolls and next Tuesday’s US November CPI are the ultimate input for the Fed policy decision next Wednesday. Even as central bankers in their toolbox switched forward guidance for data dependency, the new projections/dots still will be key when investors make up their mind on the Fed’s intentions in 2024.

The bullish trend in USD/JPY has been very strong since early this year, sending this pair close to all-time highs at 152. But comments from BOJ governor Ueda yesterday about a policy exit led the JPY higher, which gained more than 600 pips by the end of the day. Although, the 200 daily SMA held

Will Fed officials be the first to cut rates or will the ECB beat them to it? Falling inflation everywhere means a bearish US dollar is not a given Yen stands to gain from rate cuts as BoJ may hike Is sterling set for another bumpy year? Aussie and kiwi pin hopes on China recovery,

FX brokerage powerhouse Exness reported a double-digit decrease in its trading volumes for the month of November 2023 as the market environment stabilised following a period of high volatility. Exness had its busiest October ever. The multi-regulated platform set a new record with a whopping $4.8 trillion in trading activity, which was 8 percent more

Daily Pivots: (S1) 141.43; (P) 144.38; (R1) 147.10; More… Intraday bias in USD/JPY is turned neutral wit h break of 144.53 minor resistance and some consolidations would be seen. But recovery should be limited below 147.14 support turned resistance to bring another fall. On the downside, break of 141.59 and sustained trading below 142.45 fibonacci

The US labour market has been increasingly showing signs of weakness in recent months, after being quite strong throughout the last two years, despite the FED raising interest rates at an enormous pace. In fact, this sector has been helping consumption in the US, keeping the economy afloat. But, the recent numbers have been soft,

Generally speaking, I am not inclined to favor the idea of purchasing the Japanese yen, primarily due to my belief that the Bank of Japan may be facing more challenges in terms of monetary tightening compared to other central banks.  On Thursday, the US dollar experienced a substantial decline in value, with its downward trajectory