GBP/USD Price Forecast: Stumbles on soft UK data, bears target 1.2600 The Pound Sterling extends its agony and printing losses for the sixth straight day against the Greenback. Soft UK GDP coupled with robust US Retail Sales figures boosted the US Dollar and weighed on GBP/USD, which trades at 1.2636, down 0.22%. Read More… GBP/USD resumes downside bias after release of US Retail Sales…
2024.11.15 2024.11.15 Aussie Maintains a Positive Front Despite Fears. Forecast as of 15.11.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The Reserve Bank hesitates to take action due to Donald Trump’s threats. It is attempting to maintain a positive front in a difficult situation, fully aware of the potential damage trade wars could cause to the AUDUSD. Let’s discuss it and make a trading…
Financial market action was as mixed as a bag of nuts this week, as some asset classes like bitcoin were still riding the post-election high while others like crude oil moved on to the usual supply and demand dynamics. Inflation data from the U.S. and less dovish Fed commentary were key factors as well, as CPI readings came…
Markets: Gold down $4 to $2562 US 10-year yeilds up 2 bps to 4.44% WTI crude oil down $1.71 to $66.99 S&P 500 down 1.3% JPY leads, GBP lags There wasn’t a tidy narrative on Friday as trading started out with a ‘sell everything’ mode before bonds made something of a comeback. Still, it was a tough one for…
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2024.11.15 2024.11.15 USDJPY: Elliott Wave Analysis and Forecast for 15.11.24 – 22.11.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: After the correction ends, consider short positions below the level of 161.64 with a target of 138.08 – 131.25. A sell signal: the price holds below 161.64. Stop Loss: above 162, Take Profit: 138.08 –…
Bitcoin is closing out a great week on a positive note. It briefly fell below $88K in US trading but has been steadily bid since and particularly in the past hour. It’s now up 3.3% on the day to $91,200 and that’s coincided with a modest rebound in risk appetite more broadly. This article was written by Adam Button…
The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against a basket of six…
2024.11.15 2024.11.15 WTI Crude Oil: Elliott Wave Analysis and Forecast for 15.11.24 – 22.11.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Consider short positions from corrections below the level of 72.50 with a target of 61.50 – 53.60. A sell signal: the price holds below 72.50. Stop Loss: above 73.00, Take Profit: 61.50 –…
Here is the problem with OPEC — they’re too optimistic about demand. At this time last year, they forecast world oil demand would rise to 104.36 million barrels per day this year. It was in stark contrast to the IEA at 102.78 mbpd and EIA at 102.34 mbpd. Skip ahead to now: OPEC 102.8 mbpd IEA 101.9 mbpd EIA…
