Are gold bulls struggling to sustain the precious metal’s climb these days? Here’s a classic reversal pattern I’m watching on the 4-hour time frame. Gold (XAU/USD) 4-hour Chart by TradingView Gold made a couple of failed attempts to bust through its July highs around the $2,475 area, falling back to the area of interest near $2,375 to form a…
The market is in a calmer mood once again today, looking to keep a steadier tone overall. Traders are taking a breather from the Monday rout although the air of optimism did get a bit thin for a while yesterday. But Wall Street finished stronger, despite some selling late into the close. And that’s providing some base for today:…
EUR/USD trades in negative territory for the second consecutive day around 1.0915 in Wednesday’s Asian session. Traders expect a deeper Fed rate cut in September this year. The disappointing Eurozone June Retail Sales report exerts some selling pressure on the Euro. The EUR/USD pair trades on a softer note near 1.0915 after retracing from seven-month highs of nearly 1.1008…
2024.08.06 2024.08.06 EURUSD Hits Fresh High as Global Stock Rout Deepens. Forecast as of 06.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The impending recession in the US economy prompted a significant shift in financial markets. Severe shock waves hit global stock markets from Asia to North America. Meanwhile, EURUSD quotes soared to 1.1, a seven-month high. Let’s discuss this topic and make a…
I’m seeing this classic reversal pattern on the short-term chart of GBP/NZD ahead of New Zealand’s quarterly jobs release. Are we about to see strong figures that could keep the RBNZ hawkish? Or will a possible rebound in risk appetite boost the higher-yielding Kiwi midweek? This Article Is For Premium Members Only Become a Premium member…
Bank of Japan deputy governor Uchida, comments here: BOJ deputy governor Uchida says the Bank’s interest rate can change if needed USD/JPY jumping, Nikkei higher also. This article was written by Eamonn Sheridan at www.forexlive.com.
NZD/USD gains momentum around 0.5980 in Wednesday’s early Asian session, gaining 0.54% on the day. New Zealand’s Unemployment Rate ticked higher to the highest since March 2021, rising to 4.6% in Q2 vs. 4.3 prior. Fed’s Daly expects interest rate cuts to come as the labor market weakens. The NZD/USD pair extends the rally near 0.5980 during the early…
2024.08.06 2024.08.06 Short-term Analysis for Oil, Gold, and EURUSD for 06.08.2024 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. Gold’s short-term uptrend reversed yesterday. The article…
It’s only Tuesday, but what a week already! 😲 Yesterday, investors around the world experienced a roller-coaster ride as global stock markets plunged, only to partially recover today. A significant contributing factor to this turbulence was the unwinding of the “carry trade,” a popular but risky investment strategy. The carry trade involves borrowing money in a currency with low…
A dour view from Greenlight Capital’s David Einhorn in a note to investors: From a market perspective, we don’t think it matters very much who wins “The economic policies of both parties are remarkably similar. Both favour large deficits despite a strong economy. We believe this supports our ongoing expectations of higher secular inflation in the coming years Higher…
