Thursday’s inflation in Hungary surprised slightly to the upside with a rise from 3.7% to 4.1%, but there is a bigger surprise here compared to the National Bank of Hungary’s (NBH) forecast of 3.8% year-on-year, ING’s FX strategist Frantisek Taborsky notes. At least three more cuts this year “Given the rally we have seen in previous weeks in the HUF rates…
2024.08.09 2024.08.09 USDСAD: Elliott wave analysis and forecast for 09.08.24 – 16.08.24 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:…
A recovery in risk appetite has pushed volatile assets like bitcoin higher against the U.S. dollar! BTC/USD just bounced from a technical support zone and looks ready to test a key inflection point. Will the crypto pair extend its gains today? Bitcoin (BTC/USD) Daily Chart by TradingView If you missed yesterday’s market action, you should know that a better-than-expected…
Fundamental Overview Gold erased most of the losses from the Monday’s global stock market rout as the ISM Services PMI and especially the US Jobless Claims yesterday improved the risk sentiment. This might be just a retracement of the liquidations experienced on Monday as it doesn’t look like there are strong reasons for a rally in the short term….
As a first in hopefully many articles and updates, we wanted to start off by sharing our insights regarding the S&P 500 (SPX). We primarily use the Elliott Wave Principle (EWP). As you may be aware, the index peaked on July 16 at $5669, which fell 28p (0.5%) short of the ideal 5th wave target, the 200.00% Fibonacci extension…
2024.08.06 2024.08.06 Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 06.08.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Highlights and key points BTCUSD: correction is expected to develop. Consider long positions from the current level with Take Profit at 57883.91….
The U.S. dollar gave up pips against “riskier” counterparts like the British pound following a U.S. data release. Will the momentum help extend GBP/USD’s months-long uptrend? We’re taking a closer look at the 4-hour chart: GBP/USD 4-hour Forex Chart by TradingView In case you missed it, the pullback in the weekly U.S. initial jobless claims released yesterday helped calm…
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 invest money that you…
AUD/JPY struggles to capitalize on the modest Asian session uptick to a fresh weekly top. The better-than-expected Chinese inflation figures fail to impress bulls or provide impetus. BoJ rate cut bets, geopolitical risks lend some support to the JPY and cap gains for the cross. The AUD/JPY cross gains positive traction for the fourth successive day and climbs to…
2024.08.08 2024.08.08 Nightmares Haunt US Dollar. Forecast as of 08.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The decline in US Treasury bond yields and stock indices is prompting a renewed focus on the recession narrative, which is supporting the EURUSD pair. The greenback is facing pressure from investors calling for the Fed to slash interest rates. Let’s discuss this topic and make a…