XAUUSD: Elliott wave analysis and forecast for 15.11.24 – 22.11.24

2024.11.15 2024.11.15 XAUUSD: 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 2792.90 with a target of 2418.82 – 2304.21. A sell signal: the price holds below 2792.90. Stop Loss: above 2800, Take Profit: 2418.82 – 2304.21. Alternative…

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Should You Add to Your Losing Positions?

Scaling into losing positions helps traders “average down” their buying price before the asset eventually goes their trades’ way. But scaling is not for everyone. After all, you’ll never be sure that the asset will eventually trade your way. Will you still be able to make good trading decisions if price continues to trade against you? Fortunately, there’s a…

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Gold stabilizes after declining on Powell comments

Gold bounces off technical support aided by the US Dollar, which peaks and rolls over.  The precious metal faces headwinds from the outlook for US interest rates and Trumponomics.  The US economy is in “remarkably good” shape, according to Fed Chair Powell, lifting the USD and weighing on Gold.  Gold (XAU/USD) trades little changed on Friday, holding steady in…

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GBPUSD: Elliott wave analysis and forecast for 15.11.24 – 22.11.24

2024.11.15 2024.11.15 GBPUSD: 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 1.3017 with a target of 1.2240 – 1.1900. A sell signal: the price holds below 1.3017. Stop Loss: above 1.3050, Take Profit: 1.2240 – 1.1900. Alternative…

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Bulls can test 1.0580 short term – UOB Group

Momentum has slowed somewhat; any further decline is likely part of a lower trading range of 1.0490/1.0580. In the longer run, price action continues to suggest EUR weakness; the next support level is at last year’s low, near 1.0450, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Next support level is at last year’s low…

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US Dollar Keeps Getting Stronger. Forecast as of 15.11.2024

2024.11.15 2024.11.15 US Dollar Keeps Getting Stronger. Forecast as of 15.11.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The EURUSD pair is showing a similar pattern seen in 2016 when Donald Trump first took office. However, the pair surged in 2017. Will the history repeat itself? Let’s discuss this topic and make a trading plan. The article covers the following subjects: Major Takeaways The…

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US Dollar consolidates weekly gains ahead of Retail Sales, Fedspeak

Here is what you need to know on Friday, November 15: Asian stocks remained a mixed bag, dragged by the mixed Chinese activity data and a pessimistic Wall Street close overnight. Despite a notable increase in China’s Retail Sales, the country’s disappointing Industrial Production and Fixed Asset Investment data amplify the economic concerns, keeping markets on edge. An air…

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