Another positive session saw the Greenback advance to weekly tops, helped by the extra depreciation of the Japanese currency and the unabated march north in US yields across the spectrum. Here is what you need to know on Friday, August 9: The USD Index (DXY) climbed to four-day highs beyond 103.50 in the context of higher yields globally and…
2024.08.08 2024.08.08 Short-term Analysis for Oil, Gold, and EURUSD for 08.08.2024 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. Oil corrected to the resistance (A). The…
A bit of calm returned to the financial markets in the past trading sessions, but we still saw pretty big moves among a few major currencies and asset classes. Bitcoin staged quite the rebound as it closed roughly 5% higher for the day while Treasury yields chalked up pretty decent gains as well. Here’s a quick rundown of the…
Bitcoin daily Yesterday’s bitcoin slump foreshadowed trouble in the broader risk trade and that catalyzed late in the day with a drop in US equities. Today it’s the opposite. Bitcoin rallied early and has stayed strong with equities now catching up. Bitcoin is up $3570 to $58,795, or 6.7%. It’s still a long way back to the recent highs…
Initial Jobless Claims rose by 233K vs. the previous week. Continuing Jobless Claims rose to 1.875M. US citizens that applied for unemployment insurance benefits increased by 233K in the week ending August 3 according to the US Department of Labor (DoL) on Thursday. The prints came in below initial consensus (240K) and were lower than the previous weekly gain…
2024.08.08 2024.08.08 Pound Losing Ground amid Market Woes. Forecast as of 08.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The yen has demonstrated an outstanding performance, while the pound sterling has experienced a contrasting trajectory. Yesterday’s market leader is currently facing challenges amid market turmoil and concerns about the Labour Party pledges. Let’s discuss this topic and make a trading plan for the GBPUSD…
Risk-off vibes returned to the financial markets midweek, yet crude oil still managed to rake in decent gains. What’s up with that and how did the rest of the asset classes perform? Here’s a quick rundown of the headlines and economic updates that affected the markets: Headlines: Chinese trade surplus in July: $84.7 billion ($97.5 billion expected, $99.1 billion…
Fundamental Overview The market is still licking its wounds as the price action remains tentative ahead of the US Jobless Claims today. The ugly US ISM Manufacturing PMI and the weak US NFP report of last week are still fresh in everyone’s mind. At the moment the market is expecting the Fed to cut rates by 50 bps in…
Instead of continuing to advance, USD is more likely to trade between 7.1450 and 7.1900, but further USD weakness is not ruled out. Although, the low near 7.0635 is solid support now, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. The 7.1450 low is prone to breaking 24-HOUR VIEW: “We expected USD to edge higher…
2024.08.08 2024.08.08 Order Book: Concept, Operating Principle, and Depth of Market (DoM) Oleg Tkachenkohttps://www.litefinance.org/blog/authors/oleg-tkachenko/ The price of an asset is shaped by supply and demand, and traders make their decisions based on their ratio. A list of buy and sell orders for a specific security or currency arranged according to a price level is known as the order book,…
