The Australian Dollar faced downward pressure from concerns over Trump’s tariffs on Chinese goods. The AUD faced challenges as China’s latest stimulus measures fell short of investors’ expectations. Trump’s fiscal policies could heighten inflation risks, prompting the Fed to adopt a more restrictive policy stance. The Australian Dollar (AUD) gains ground on Monday despite a generally negative outlook driven…
2024.11.08 2024.11.08 USDJPY: Elliott Wave Analysis and Forecast for 08.11.24 – 15.11.24 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 154.81 with a target of 138.08 – 131.25. A sell signal: the price holds below 154.81. Stop Loss: above 155.20, Take Profit: 138.08 – 131.25. Alternative…
Bitcoin (BTC/USD) was one of the biggest movers yesterday after Trump’s election win upped the odds of cryptocurrency-friendly policies. We’re eyeing potential support levels after BTC/USD has turned lower from its new record highs! Bitcoin (BTC/USD) 4-hour Chart by TradingView What dollar domination? Bitcoin was one of the strongest performers yesterday after Trump – a candidate who embraced the…
People’s Bank of China USD/CNY reference rate is due around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range,…
AUD/USD edges lower to near 0.6580 in Monday’s early Asian session. The weaker Chinese economic data and Trump’s proposals to raise tariffs drag the China-proxy Aussie lower. The preliminary University of Michigan’s Consumer Sentiment Index came in better than expected in November. The AUD/USD pair remains under selling pressure around 0.6580 during the early Asian session on Monday. The…
2024.11.08 2024.11.08 Can the Aussie Balance Between Two Opposing Sides? Forecast as of 08.11.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Australia is between a rock and a hard place: the US is its most important military partner, while China remains the largest consumer market. A trading war between the two will not benefit the AUDUSD. Let’s discuss it and make a trading plan….
The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 4.50-4.75% in their November meeting, citing that inflation has “made progress” towards their objectives. FOMC policy details: Target federal funds rate lowered by 0.25% to 4.50-4.75% range Interest rate on reserve balances adjusted to 4.65% Overnight reverse repo rate set at 4.55%…
Be aware. Be prepared. In the videos below, I take a technical look at all the major currencies vs the USD. What is the bias and what would move the bias the other way? Support? Resistance? What are the targets? I look at all the key technicals in play for each of the major currency pairs i the below…
The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by a third time this…
2024.11.08 2024.11.08 WTI Crude Oil: Elliott Wave Analysis and Forecast for 08.11.24 – 15.11.24 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 77.75 with a target of 61.50 – 53.60. A sell signal: the price holds below 77.75. Stop Loss: above 78.20, Take Profit: 61.50 –…
