2024.08.16 2024.08.16 USDСAD: Elliott wave analysis and forecast for 16.08.24 – 23.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider short positions from corrections below the level of 1.3950 with a bearish target of 1.3465 – 1.3192. A sell signal: after the price returns below 1.3950. Stop Loss: above 1.3980, Take Profit:…

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We’ve been spared from summer doldrums in financial markets this year but early next week could be something of a dud, particularly until Jackson Hole begins. Monday kicks off with Fed’s Waller speaking at 09:15 am ET but that will be all for the day. Tuesday features speeches from the Fed’s Bostic and Barr but is otherwise bare. Wednesday…

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Consumer confidence in the US improved slightly in early August. UoM survey showed one-year inflation expectation held steady at 2.9%. Consumer confidence in the US improved slightly in early August, with the University of Michigan’s Consumer Sentiment Index edging higher to 67.8 from 66.4 in July. This reading came in above the market expectation of 66.9. The Current Conditions Index declined…

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2024.08.16 2024.08.16 USDCHF: Elliott wave analysis and for 16.08.24 – 23.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: once a correction forms, consider short positions below the level of 0.9047 with a bearish target of 0.8200 – 0.8000. A sell signal: after the price returns below 0.9047. Stop Loss: above 0.9080, Take…

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The recent rally in the euro hasn’t gotten much attention because there isn’t a great fundamental backing behind it. Europe’s economy continues to struggle and the move is mostly about broader US dollar selling. That said, sometimes the technicals lead the fundamentals and the poor economy in Europe is priced in at this point while a US slowdown would…

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USD/CAD drops as the US Dollar slumps on firm Fed rate-cut prospects. Fears of the US entering a recession ebb due to upbeat US Retail Sales data for July. Weak Oil prices have weighed on the Canadian Dollar. The USD/CAD pair falls slightly but holds key support of 1.3700 in Friday’s New York session. The Loonie asset drops as…

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2024.08.16 2024.08.16 EURUSD: Elliott wave analysis and forecast for 16.08.24 – 23.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 1.0880 with a growth target of 1.1141 – 1.1273. A buy signal: after the price returns above 1.0880. Stop Loss: below 1.0850, Take Profit:…

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GBP/USD daily HSBC analyzes the factors behind GBP’s strong performance in 2024 and discusses the potential challenges ahead. While the currency has been resilient due to its high carry, HSBC warns that the outlook may not remain as favorable, especially with expected further rate cuts by the Bank of England (BoE). Key Points: Conclusion: While GBP has shown remarkable…

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The Pound Sterling exhibits sheer strength against the US Dollar on multiple tailwinds. Healthy growth in UK Retail Sales could diminish bets of a second straight BoE interest-rate cut. The US Dollar struggles to hold onto Thursday’s recovery, which was driven by upbeat economic data. The Pound Sterling (GBP) outperforms its major peers in Friday’s New York session. The British currency gains significantly as the United Kingdom…

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