2024.09.27 2024.09.27 USDСAD: Elliott wave analysis and forecast for 27.09.24 – 04.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider short positions on corrections below the level of 1.3638 with a target of 1.3205 – 1.2981. A sell signal: if the price holds below 1.3638. Stop Loss: above 1.3700, Take Profit: 1.3205…
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…
As reported by the Financial Times, citing sources with knowledge of the matter, Saudi Arabia intends to abandon its unofficial price target of $100 per barrel allowing it to increase oil production. There is no officially announced price target, Commerzbank commodity analyst Carsten Fritsch notes. Gradual withdrawal of the voluntary production cuts seems likely “According to IMF calculations, Saudi…
2024.09.27 2024.09.27 USDCHF: Elliott wave analysis and forecast for 27.09.24 – 04.10.24 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 0.8558 with a bearish target of 0.8200 – 0.8000. A sell signal: if the price holds below 0.8558. Stop Loss: above 0.8610, Take Profit:…
Iran’s supreme leader, Ayatollah Khamenei, is holding an emergency meeting of the Supreme National Security Council at his home compound, in response to Israel’s strike in Beirut that targeted the leader of Hezbollah, Hassan Nasrallah. The latest reports suggest Nasrallah was killed but there have been many conflicting reports for hours. The market seemingly isn’t too worried that Iran…
The EUR/GBP pair traded sideways on Friday, clearing daily gains and stabilizing at 0.8335. The RSI and MACD suggest that selling pressure is steady but continues flashing oversold conditions. The pair seems to be consolidating Monday’s sharp downward movements. The EUR/GBP has been in a steady decline over the past trading days and bears stepped out to take a…
2024.09.27 2024.09.27 EURUSD: Elliott wave analysis and forecast for 27.09.24 – 04.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions on corrections above the level of 1.1100 with a growth target of 1.1400 – 1.1600. A buy signal: if the price holds above 1.1100. Stop Loss: below 1.1050, Take Profit:…
The major currencies saw a lot of action as traders took their cues from central bank updates, China’s new stimulus measures, and closely watched data releases.
Closing changes in North American equities: S&P 500 -0.1% Nasdaq Comp -0.4% DJIA +0.3% Russell 2000 +0.7% Toronto TSX Comp -0.3% On the week: S&P 500 +0.6% Nasdaq Comp +1.0% DJIA +0.6% US stocks had a strong start and liked the PCE report but the bombing in Beirut along with quarter-end flows added some caution. Nvidia was also weak…
What just happened? August’s US Personal Consumption Expenditure Price Index (PCE), or PCEPI as the US Federal Reserve (Fed) refers to it, clocked in at an annualized rate of 2.2% YoY on September 27, the lowest print of the key inflation metric since March of 2021. This is an important step toward the Fed being able to claim ‘victory’…
