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…
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:…
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…
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…
2024.08.16 2024.08.16 Markets Disbelieve RBA Rate Cut Postponed. Forecast as of 16.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ In Australia, the confrontation between investors and the Reserve Bank is gaining momentum. The former are convinced the monetary policy easing will start in 2024, but the central bank insists they are wrong. Let’s discuss this topic and make a trading plan for the AUDUSD…
Positive economic reports and talks of interest rate cuts for major central banks helped fuel a risk-friendly environment for a lot of risk assets this week. But the optimism is marred by the possibility of rising and widespread geopolitical conflict in the Middle East. How did your closely watched assets react to these market themes? Let’s…
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…
MARUTI SUZUKI INDIA – MARUTI (1D Chart) Elliott Wave / Technical Analysis: Function: Counter Trend Lower (Intermediate degree, orange) Mode: Corrective Structure: Impulse, within larger degree Wave A Position: Minor Wave 1 Grey complete Details: Minor Wave 2 underway towards 12700-800 zone. Invalidation point: 13685 Maruti Suzuki Daily Chart Technical Analysis and potential Elliott Wave Counts: Maruti Suzuki’s Daily chart potential counts are suggesting that the stock has probably terminated its fifth wave at Minor, Intermediate and primary (not shown) degrees…
2024.08.16 2024.08.16 GBPUSD: 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 1.2660 with a growth target of 1.3400 – 1.3740. A buy signal: after the price returns above 1.2660. Stop Loss: below 1.2630, Take Profit:…
Economic data surprises, risk sentiment plot twists, and central bank speculations made for a busy trading week for the major currencies!