Share: NFT trading marketplace LooksRare announced the adjustment of its token’s economics. Based on the new token economic adjustment, 50% of the platform fees will be used to repurchase LOOKS from the market. LOOKS price currently trades at $0.05204 and has the potential to rally another 35%. LooksRare, an NFT marketplace, announced on September 30
Month: September 2023
China manufacturing PMI Manufacturing PMI 50.2 vs 50.0 (prior 49.7) Non-manufacturing PMI 51.7 vs 51.5 expected (prior 51.0) The official manufacturing PMI is the important one and it rose above 50 for the first time since March 2023. That line signals expansion/contraction, so while it’s a small beat on expectations, it’s an important one. Notably,
> Technical Analysis > What technical levels are in play for major currency pairs going into the new trading week Technical Analysis Technical levels in play for the week starting October 2, 2023 EURUSD: USDJPY: GBPUSD: USDCAD: AUDUSD: NZDUSD: ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE
Share: Radiant Capital price is trading inside a falling wedge pattern. This technical setup has triggered a breakout, and RDNT could rally soon. A daily candlestick close below the $0.203 support level would invalidate the bullish thesis. Radiant Capital (RDNT) price has been on a downtrend for five months. A recent spike in buying pressure
Share: LINK price has inflated by 40% in the under three weeks and shows no signs of stopping. Chainlink whales holding 10,000 to 1,000,000 LINK continue to scoop LINK tokens. The oracle token could see a potential drawdown if holders decide to cash out unrealized profits. Chainlink (LINK) price created a bottom in early September
Share: The spot Bitcoin ETF decision week continues to disappoint investors as Fidelity and WisdomTree’s approval will be delayed. The SEC is holding out its stand against spot BTC ETFs despite the stern letter from US House FSC directing them to approve them. On the other hand, VanEck announced it would be donating 10% of
The major indices are closing mixed today with the Dow Industrial Average average fearing the worst. The NASDAQ index eked out a small gain for the day. The S&P was lower. A snapshot of the closing levels shows: Dow industrial average fell -157.50 points or -0.47% at 33508.86 S&P index -11.46 points or -0.27% at
Markets: Gold down $16 to $1848 WTI crude oil down 78-cents to $90.93 US 10-year yields down 0.2 bps to 4.57% S&P 500 down 12 points to 4288 AUD leads, CAD lags The quarter ended with some drama as the US dollar shot higher, recouping losses from European and Asian trading and in some cases
Share: EUR/USD trades at 1.0572, registering marginal gains of 0.06%, as softer German inflation data and US government shutdown fears impact prices. US Core PCE data reveals a 3.9% YoY increase, below the expected 4%, diminishing chances for a November rate hike by the US Federal Reserve. A daily close below the 1.0600 mark for
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The USDJPY had a volatile down and up trading day with the full 100 pip move to the downside in the first half of the day, nearly fully retracted in the 2nd half of the day. The low price today moved to the 200-hour moving average and the picture set midpoint of the move up
Weekly WTI Oil is near the lows of the day, down 96-cents but still has some breathing room in what looks like it will be another weekly close above $90. Still, it feels like something of a loss for the bulls, or at least a loss of momentum. We touched $95 early on Thursday before
The EURUSD is looking to close the trading week below the 200-hour MA and a cluster of resistance near 1.0610, but above the 100-hour MA at 1.05614. Those levels will be the barometers for buyers and sellers in the new trading week. In the video, I break down the levels and explain why they are
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Nasdaq Comp We’ve seen this script before. Treasury yields came off the lows and slowly the gains in equities faded. The FX market might have been the tell earlier as money started to move into US dollars, something I alluded to. I just don’t know how you could have a lot of confidence in that
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Having already raised $500K in less than 48 hours, Memeinator has already stormed through to stage 3 of its presale, on its relentless mission to redefine the meme coin sector. The project’s grand vision was born from the frustration of seeing relentless false promises and overhyped coins, that were endless parodies of each other replete
The USDCAD made new lows for the week earlier today and in the process tested a swing area between 1.3401 and 1.34214. The low price reached 1.34154 bouncing higher. The last 4 or so hours have seen a sharp move back to the upside helped by declining oil prices. The move higher has taken the
The AUDUSD sellers had their shot this week with a move outside of the “Red Box” that has confined the pair between 0.6356 and 0.65214 for 7 trading weeks now. The failure to break – and move lower this week – has given the buyers a go-ahead to push higher midweek. Yesterday the price returned
The GBPUSD moved above its 100-hour moving average yesterday after trending lower for the 1st half of the trading week. The move back above the 100-hour moving average give the buyers the go-ahead to push higher toward the 200-hour moving average. In trading today after testing that moving average on the first test in the
Share: The Euro gathers extra pace vs. the US Dollar. Stocks in Europe navigate a “sea of green” so far on Friday. EUR/USD reaches four-day highs near 1.0620. The DXY USD Index extends the decline to 105.70. Germany reported a firm labour market report. US PCE inflation, final Consumer Sentiment are due. On Friday, the Euro
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
US: The Fed left interest rates unchanged as expected. The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike by the end of the year with less rate cuts in 2024. Fed Chair Powell reaffirmed
Fed chief Jerome Powell’s hawkish speech after the regulator decided to leave the policy rate unchanged, to put it mildly, did not inspire investors. The economy is already suffering the consequences of tight monetary policy, with a growing number of corporate bankruptcies and rising overhead costs. And now, there are even more rate hikes on
Share: EUR/JPY hovers around 158.00; Relative Strength Index (RSI) stands in bullish territory above 50. The 50-hour EMA is on the verge of crossing above the 100-hour EMA. The immediate resistance level for the cross is 158.15; the key support level is seen at 157.50. The EUR/JPY cross holds positive ground near 158.00 during the
ICYMI, China is out on holiday today and all of next week. If you’ve been waiting on the People’s Bank of China CNY reference rate I probably should have mentioned this earlier – none today or next week. We will be getting the National Bureau of Statistics (NBS) official PMIs on Saturday though: As you
“Leaning” is a term I like to use to describe technical levels defined by consolidated price action in an area, moving averages, trendlines, or Fibonacci retracement. The reason why traders like those levels is because they can define risk and limit risk against those areas. If you can limit risk you stand to only risk
Share: During the Asian session, Japan will release critical economic reports including the September Tokyo Consumer Price Index, the August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts. In Australia, Private Sector Credit data is due. Later in the day, a new estimate of UK Q2 GDP and Consumer Credit will be reported, while
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
EURUSD stalls at the 100 hour MA. Sellers push lower. The EURUSD moved higher into the late US morning and in the process approached the falling 100-hour moving average (blue line), and the 38.2% retracement of the move down from the September 20 high (at 1.05823). See earlier video: The pair moved up to test
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