Hedge funds have been safeguarding against a global economic slowdown via commodity shorts in all likelihood. Bloomberg data showed a net short of 153K contracts across 20 raw-materials markets in the latest week, that’s the most since at least 2011. The positioning is particularly stark in oil, where the net was cut by 110 million barrels through Tuesday in…
EUR/GBP finds interim cushion near 0.8550 with investors focusing on the UK data. UK’s Average Earnings Excluding Bonuses are estimated to have declined to 4.6% from the prior release of 5.7%. EUR/GBP is on the verge of delivering a Falling Wedge breakout. The EUR/GBP pair discovers a temporary support near 0.8550 in Monday’s European session after a two-day correction…
2024.08.12 2024.08.12 Yen Triggers Market Turmoil. Forecast as of 12.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ For an extended period, the yen was constrained by the considerable disparity between the Fed and Bank of Japan interest rates. However, in late July and early August, the currency managed to overcome this roadblock, triggering a significant market turmoil. Let’s discuss this topic and make a…
I’m seeing a simple range setup on the hourly chart of EUR/GBP, as traders are likely holding out for top-tier U.K. data. Can the upcoming jobs figures spur a bounce or a break? Check out these near-term inflection points I’m watching! This Article Is For Premium Members Only Become a Premium member for full website access,…
Level of returns, coupled with flexibility, has been the main reasons driving the ever-growing interest in forex trading. However, one of the most critical decisions a trader must make is picking the right trading platform since it will significantly determine how effective and successful your trading is going to be. The article tends to go to the main features…
GBP/JPY gains ground as the UK key economic data loom this week. BoE policymaker Catherine Mann expressed that UK wage growth remains a concern for inflation. The upside of the GBP/JPY cross could be limited due to safe-haven flows amid increased Middle East tensions. GBP/JPY edges higher to near 187.90 during the European session, following thin trading as the Japanese…
2024.08.12 2024.08.12 Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 12.08.2024 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: the pair may fall in the impulse wave C. Consider short trades at the current level with…
GBP/JPY bounced from its August lows and is approaching potential resistance areas. How can the U.K.’s upcoming jobs data affect GBP/JPY’s trend?
A Japanese market holiday isn’t making it too exciting to start the new week. Overall market action is much calmer, though USD/JPY is creeping a little higher to 147.15 currently. Still, the pair is “only” sitting in a 50 pips range so it pales in comparison to the swings from last week. Besides that, other major currencies are not…
The Japanese Yen declines due to low trading as traders observe the Mountain Day holiday in Japan. The US Dollar receives support due to diminished odds of Fed rate cuts following last week’s upbeat US data. Safe-haven flows may limit the downside of the JPY amid increased geopolitical tensions. The Japanese Yen (JPY) retraces its recent gains against the…
