Share: NZD/JPY rallied more than 0.70% to hit 91.38, its highest since April 2015. Daily RSI and MACD show good upward momentum, hinting at increasing buying pressure. Indicators near overbought conditions in the four-hour chart. In Thursday’s session, the NZD/JPY initiated a bullish move, touching a peak of 91.38, it highest since April 2015. This
Month: November 2023
The crypto market, particularly Bitcoin, is stealing the spotlight this fall, possibly surpassing the popularity of Taylor Swift. Bitcoin ETF discussions are everywhere. Amidst this, it’s easy to overlook that cryptocurrencies offer profit opportunities in various markets. Case in point: Coinbase stocks have experienced greater growth than BTC in the past month. Everything you need
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
In today’s trading, the USDJPY experienced a notable rebound, with its key technical targets positioned above, including the 200-hour moving average at 148.45, a swing area between 148.44 and 148.59, and the 38.2% Fibonacci retracement of the decline from the November 13 high at 148.665. The pair briefly surpassed the 200-hour moving average, reaching a
EURUSD falls to technical barometer near 38.2% retracement The EURUSD pair recently hit a new session low, testing a critical swing area and the 38.2% Fibonacci retracement level, ranging between 1.0878 and 1.0887. The pair’s low touched 1.08829, influenced partly by the Eurozone CPI coming in weaker than expected, which favored the downside. Technically significant,
The NASDAQ is on pace for its 2nd consecutive day to the downside. The price has been down 4 of the last 5 trading days. That sounds ominous, but the price is only down -0.85% over that period – with today’s decline of -0.78% the bulk of the decline. Also for the month, the index
The NZDUSD moved lower with the USDs run higher, but has snapped back higher after testing the high of a swing area going back to the end of July/early August between 0.6104 and 0.6117 (see red numbered circles on the chart below). The low price reached 0.6118 and bounced back higher. We are currently trading
Sui, the pioneering Layer 1 blockchain and smart contract platform created by the technology team that emerged from Meta’s Diem Blockchain project, has accelerated beyond expectations in just over six months since its mainnet launch, surpassing $150 million in Total Value Locked (TVL) according to leading DeFi aggregator DefiLlama. This key milestone, which currently places
Share: The Greenback trades in the green against all major currencies. US traders are seeing PCE confirming sticky pace of inflation. The US Dollar Index climbs above 103 and could still flip this week’s overall performance into positive territory. The US Dollar (USD) bulls are being back by Wednesday and Thursday’s data points, confirming that
In the world of finance, two types of currencies dominate the scene – traditional currencies and cryptocurrencies. Both have their unique features, advantages, and disadvantages. This article aims to provide a comprehensive comparison between these two types of currencies, shedding light on their similarities, differences, and offering tips for potential users. Traditional Currencies Traditional currencies,
A position trader is a type of trader who holds a position in an asset for a long period, typically from months to years. Unlike day traders who make numerous trades every day, or swing traders who hold onto positions for days or weeks, position traders are more interested in the long-term performance of an
Technological advancements are propelling a remarkable transformation in the Forex market, a dynamic arena where fortunes are made and lost. Whether it is traditional trading methods or sophisticated strategies, technology has catapulted the Forex market into a new era. This surge in technological innovation is not merely a trend but a revolution and traders are
Here’s a snapshot of price action in WTI crude over the last week or so: WTI crude oil hourly chart The latest news is this one here, with reports stating that the additional production cuts could be more than 1 million bpd; though depending on the contribution by each of the bloc’s members. It is
Share: Indian Rupee edges higher on the softer US Dollar. India’s GDP number is expected to expand to 6.8% in the July–September quarter compared with the previous year. India’s GDP Quarterly for Q2 and US Core Personal Consumption Expenditure Price Index (PCE) will be in the spotlight on Thursday. Indian Rupee (INR) drifts higher on
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
Share: The EUR/GBP is dropping into the 0.8640 level on Wednesday as the Euro continues to weaken. Eurozone Consumer Confidence held steady while the business outlook declined further. Eurozone HICP inflation on the docket for Thursday. The EUR/GBP is extending its ongoing bearish momentum, slipping into 0.8640 and set for a fifth straight day of declines
Santa Claus Rally came a little early this year. Investors dived headlong into risky assets against a backdrop of softening rhetoric from Fed members and slowing inflation. As a result, the dollar index fell by 3.5% in a month, the S&P 500 soared by 9.50% and the Nasdaq by 11.4%. Meanwhile, yields on ten-year Treasury
The AUDUSD broke above its 200-day moving average of 50% midpoint of the move down from the July 2023 high on Monday (near 0.65824). The pair also moved above the high of a swing area at 0.6595. That area between 0.6582 and 0.6595 is now support. If the technical bias is to increase more to
The US dollar touched the lows of the day following a dovish shift from Mester and a Beige Book that highlighted a slowdown and disinflation in the US. The fall in the dollar fits with the shift in rate differentials as Fed funds futures price in 116 bps in cuts next year, up from 100
The Reserve Bank of New Zealand’s decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn’t dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up, surpassing the 61.8% Fibonacci retracement level of the July to October downward movement,
In my recent video analysis of USDCHF (CLICK HERE), I discussed the pair’s movement below the crucial 61.8% Fibonacci retracement level at 0.88186, coinciding with the testing of the Asian session’s swing low at 0.8791. I highlighted the risk for traders of a potential rebound above the 61.8% retracement level. However, following a break below
Share: USD edges off low but headwinds remain, economists at Scotiabank report. A short period of consolidation may be in order The USD slide in the past few days has been sharp and the sell-off is looking over-extended on the charts. A short period of consolidation may be in order but soft data and concessions
You would think that with the plunge in bond yields this week, equities would’ve been on a tear and entering a strong rally mode. Instead, it has been anything but in the last two days. And only now in European trading are we seeing some tentative signs of stronger gains with regional indices up around
Share: Indian Rupee gains traction amid the weaker US Dollar. The currency might benefit from inflows since MSCI increased India’s weight in its Emerging Market index effective from November 30. Investors await the US Gross Domestic Product Annualized data for the third quarter (Q3), due later on Wednesday. Indian Rupee (INR) gathers strength on Wednesday
Australian monthly CPI for October 2023 % y/y expected 5.2%, prior 5.6% trimmed mean inflation was 5.3% y/y in October, down slightly from the rise of 5.4% in September more to come I mentioned earlier that I’d seen some speculation that the RBA will raise its cash rate at the next meeting, December 5, if
Share: The Canadian Dollar saw some some lift on Tuesday as Crude Oil rebounds from early week swing low. Current Account figures from Canada and US quarterly GDP update on the docket for Wednesday. The US Dollar is down across the board on Tuesday, helping to bolster the Loonie. The Canadian Dollar (CAD) clambered higher against
The Reserve Bank of New Zealand is set to announce its interest rate decision at 8 PM ET, with expectations leaning towards maintaining the current rate of 5.5% for the fourth consecutive meeting. Key levels to watch in the NZDUSD pair in relation to this decision are: The 200-day moving average and the 50% Fibonacci
The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the beginning of a rally to the recent Wednesday high. For a stronger
Everything is priced in. Today’s comments from Waller were the most-dovish of the cycle and that was immediately reflected in Fed funds futures pricing in 100 bps in cuts next year from 87 bps. Initially, stock markets also rallied but they’ve since given it all back. Why? Goldman Sachs estimates there will be $9B to
The EURUSD pair is witnessing an expansion in its trading range today. Initially, the range was confined to about 40 pips at the start of the trading day. However, as the day progressed, the range widened, now reaching approximately 74 pips, aligning with the 22-day average. This expansion indicates there was ample opportunity for movement,
- 1
- 2
- 3
- …
- 11
- Next Page »