Enough experience in the forex market can delude some traders into believing that they can fully predict price action. After all, if you have years of screen time under your belt and you’ve put in the 10,000 hours in developing your analytical skills, it can be tempting to assume that you know the markets inside out. This kind of…
There are still 60-70 living hostages in Palestine and Biden has said he wants to conclude a broader deal in Palestine before leaving office. Presumably he wants it done before an election as that should help Democrats’ chances. Internal pressure is also rising for Netanyahu after huge protests on the weekend. He’s also facing pressure from his cabinet. As…
Friday was an exciting day for the Brazilian real. It began with the news that the Brazilian Central Bank (BCB) had intervened in the spot market to the tune of USD 1.5 billion to support the Brazilian real. The reason given by outgoing Governor Campos Neto was that the intervention was made to offset the effects of the regular…
2024.09.02 2024.09.02 Yen Soars on Differing Fed-BoJ Policy Outlooks. Forecast as of 02.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The BoJ claims that the USDJPY‘s collapse is rooted in the events in North America. In fact, the pair is showing increased sensitivity to the Fed’s monetary policy and changes in US Treasury yield. Let’s discuss this topic and make a trading plan. The…
I’m seeing a textbook break and retest situation on the daily chart of EUR/CAD! Will this potential support zone still hold or will we see a breakout this time? EUR/CAD Daily Forex Chart by TradingView Last week’s crude oil rally propped the commodity-related Loonie higher against most of its forex peers, allowing EUR/CAD to retreat from its 1.5200 highs….
AUD/USD daily chart The dollar battled in month-end trading last week and that kept a lid on AUD/USD, with sellers also holding at the July high around the figure level. The key level there will remain a focus this week, especially with the dollar side of the equation set to come under heavy scrutiny. It’s all about jobs-related data…
Silver price loses ground as US PCE Index data diminish odds of an aggressive Fed rate cut in September. According to the CME FedWatch Tool suggests a 70.0% chance of at least a 25 basis point Fed rate cut in September. Safe-haven Silver may come under downward pressure following widespread protests that erupted in Israel on Sunday. Silver price (XAG/USD)…
2024.09.02 2024.09.02 Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 02.09.2024 Roman Oneginhttps://www.litefinance.org/blog/authors/roman-onegin/ Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. The article covers the following subjects: Highlights and key points BTCUSD: expect a decline in impulse is heading for…
USD/CHF is fast approaching a potential resistance zone ahead of the release of closely watched U.S. labor data. Will the pair extend its trend in the next few days? If you missed last week’s FX recap, you should know that the U.S. dollar regained some pips after positive U.S. reports eased concerns about a “hard landing” or…
Well, this is a potential rift that could impact the rate cut debate in the months ahead. It is being reported that some policymakers are wanting to focus more on recession fears while others are more adamant on sticking it through the inflation battle. A rate cut in September is pretty much locked in but what comes after might…
