USDJPY: Elliott wave analysis and forecast for 15.11.24 – 22.11.24

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 –…

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Bitcoin perks up to finish the week strong

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…

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WTI Crude Oil: Elliott wave analysis and forecast for 15.11.24 – 22.11.24

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 –…

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Oil falls again. Here’s the problem with OPEC

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…

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US Dollar turns green in US trading session on Friday after upbeat Retail Sales fuel the Trump trade for a sixth day in a row

The Greenback overturns intraday losses and is set to flip in the green.  Fed Chairman Jerome Powell surprised markets by casting doubts over December’s interest-rate cut.  The US Dollar index surges back to the fresh one-year high from Thursday.  The US Dollar (USD) sees earlier declines soften a bit on Friday with US Retail Sales seeing strong upward revisions…

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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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