The BOC is expected to cut its interest rates for a third meeting in a row this week! How can the decision affect CAD’s performance against its major counterparts? Here are points you need to know if you’re trading the event: This Article Is For Premium Members Only Become a Premium member for full website access, plus…
Oil daily It’s a rough one for oil today with WTI crude oil down $3.03 to $70.52. That’s the lowest since January 17 and perilously close to the $60s. The latest leg of selling came after a report on Friday that said OPEC+ is likely to proceed with a planned gradual production increase from October. The weekend China PMI…
United States S&P Global Manufacturing PMI came in at 47.9 below forecasts (48) in August
2024.09.03 2024.09.03 Gold Poised to Face Correction. Forecast as of 03.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Gold bulls are waiting for a reason to lock in profits on their long positions. They see a strong US dollar and seasonal influences on the gold price as a potential reversal factor. However, another event will trigger a sell-off in the XAUUSD. Let’s discuss this…
This Loonie pair is testing a long-term area of interest and is forming a short-term reversal pattern ahead of the Bank of Canada’s (BOC) rate decision. Expectations are for another interest rate cut by the Canadian central bank, as well as updates to their economic forecasts. Can EUR/CAD gain traction on its potential uptrend? This Article Is…
Fundamental Overview Last week, crude oil has been on a seesaw due to supply side factors as we got the news that Libya was going to close down all oil fields and halt production and exports, and then that Iraq was going to cut production. On Friday, oil weakened again on the news that OPEC+ was going to proceed…
EUR/CHF has recently risen above 0.9350 and 0.94, Société Generale FX analysts note. Daily MACD is attempting across above its trigger line EUR/CHF has recently carved out a higher trough near 0.9350 than the one achieved in August at 0.9210. This denotes downward momentum is receding. Daily MACD is within negative territory but is attempting across above its trigger line. A…
2024.09.03 2024.09.03 Short-term Analysis for Oil, Gold, and EURUSD for 03.09.2024 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. The euro is attempting an upward correction…
GBP/CAD has been in a downtrend after hitting a previous resistance area. Will the pair extend its downtrend after the BOC publishes its September policy decision? We’re taking a closer look at the 1-hour time frame! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable…
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…
