Reported heavy strikes in Beirut have put a risk-off mood into markets and the S&P 500 has hit a session low, falling into slightly negative territory. The market doesn’t like war but it has mostly ignored the latest Middle East drama. This strike was said to target top Hezbollah leadership though, so if there was ever a response, it…
EUR/USD reverses intraday losses on softer-than-expected US PCE inflation report for August. Flash French CPI (EU norm) and Spain’s HICP fell below 2% year-on-year in September. Softer-than-expected inflation data from France and Spain has prompted ECB rate cut bets in October. EUR/USD recovers the majority of its intraday losses and returns above 1.1150 in Friday’s New York session. The major currency pair pares losses…
2024.09.27 2024.09.27 XAUUSD: Elliott wave analysis and forecast for 27.09.24 – 04.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions on corrections above the level of 2547.32 with a growth target of 2800.00 – 3000.00. A buy signal: if the price holds above 2547.32. Stop Loss: below 2500.00, Take Profit:…
The Australian dollar is at the highest levels since February 2023 as part of a broad selloff in the US dollar following softer US inflation data and China cutting lending rates. The definitive break above 0.6900 in AUD/USD cracks the June 2023 high and a series of highs in that range. It’s accelerated higher since. AUDUSD 15 mins The…
CNY appreciated 0.5% overnight on China’s stimulus hopes, and CNH did better with a 1.0% again, DBS FX analyst Philip Wee notes. Shanghai Composite Index has a best weekly rise in almost 16 years “CNY appreciated 0.5% (CNH did better with a 1.0% again) overnight on China’s stimulus hopes.” “Despite doubts that the stimulus would reverse China’s slowdown, the Shanghai Composite Index…
2024.09.27 2024.09.27 GBPUSD: Elliott wave analysis and forecast for 27.09.24 – 04.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions on corrections above the level of 1.3250 with a growth target of 1.3600 – 1.3800. A buy signal: if the price holds above 1.3250. Stop Loss: below 1.3200, Take Profit:…
Has EUR/JPY reached the end of its trend? Check out this reversal chart pattern forming on the pair’s 4-hour time frame while price is inching closer to testing the neckline! EUR/JPY 4-hour Forex Chart by TradingView Improving risk sentiment and a not-so-hawkish Bank of Japan (BOJ) announcement last week is helping lift EUR/JPY closer to testing the resistance around…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
Function: Larger Degree Trend Higher (Intermediate Degree Orange). Mode: Motive. Structure: Impulse. Position: Minor Wave 5 Grey. Details: Minor Wave 5 Grey is progressing higher towards 1758, within Intermediate Wave (5) Orange against 1472. Invalidation point: 1472. Cipla daily chart technical analysis and potential Elliott Wave counts CIPLA daily chart is indicating a continued push higher through 1758-60 zone going forward. This…
2024.09.27 2024.09.27 US Stocks and Bonds Give Mixed Signals. Forecast as of 27.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ With stocks confident of a soft landing for the US economy and bonds screaming about the return of inflation, the EURUSD pair is having a hard time deciding which trajectory to embark on. Let’s discuss this topic and make a trading plan. The article…
