2024.10.01 2024.10.01 Short-term Analysis for Oil, Gold, and EURUSD for 01.10.2024 Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/ I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Gold tested the support (A) 2630 –…

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Monday was a mixed bag for most asset classes, before dollar pairs managed to find a clear direction during Fed head Powell’s speech. Commodities found themselves on shaky ground after China printed downbeat PMI figures, yet global equities were able to keep losses in check. Here are the other updates you should know about! Headlines: On Sunday, PBOC announced…

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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…

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Gold is recovering on Tuesday as safe-haven demand increases following Israel’s invasion of Lebanon.   Fed Chairman Powell adopts a more cautious, data-dependent stance, which caps gains for the yellow metal. Technically, XAU/USD is at risk of reversing its short-term uptrend and pushing lower.   Gold (XAU/USD) recovers marginally to trade in the $2,640s per troy ounce on Tuesday after the…

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2024.10.01 2024.10.01 Gold Posts Gains Despite Headwinds. Forecast as of 01.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ If the price of gold has been rising despite headwinds, how high can it potentially soar if the headwinds change to tailwinds? The answer to this question depends on the pace of the Federal Reserve’s monetary policy and the US labor market data. Let’s discuss these…

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NZD/USD is having trouble extending its downswing since it hit a potential support zone! Profit-taking after last week’s extended moves may have dragged NZD/USD down from its .6375 highs. It didn’t help that this JPow wasn’t as dovish as the markets had expected, only seeing another 50bps interest rate cut for the rest of the year. Lastly, China…

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Final Manufacturing PMI 51.5 vs. 51.5 expected and 52.5 prior. Key findings: Growth of output and new orders ease slightly. Business confidence down to nine-month low. Comment: Rob Dobson, Director at S&P Global Market Intelligence: “The UK manufacturing sector is still expanding at a solid, albeit slightly slower, pace. Output rose for the fifth successive month in September, underpinned…

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2024.10.01 2024.10.01 US Jobs Data to Drive EURUSD. Forecast as of 01.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The US Federal Reserve has started the monetary expansion cycle quite aggressively and is now prepared to adopt a more measured approach if the US economy remains as robust as anticipated. In light of the ongoing challenges in the eurozone, there is an elevated risk…

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Dollar traders seem excited to adjust positions ahead of Friday’s NFP release, so leading jobs indicators like the ISM manufacturing PMI could spark volatility early this week. Expectations are for a slight improvement in September, which means that an upside surprise could continue to dampen expectations for aggressive Fed easing. Here’s what I’m watching on the hourly…

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