Fed Chair Powell signaled at Jackson Hole that an interest rate cut is imminent. Most of the market expects a 25bps cut, but a third still says Powell will begin with 50 bps. Powell says that labor market no longer a source of inflation. Goldman nears all-time high at $517.26, but entry points are aplenty. Goldman Sachs (GS) gained…
2024.08.23 2024.08.23 USDJPY: Elliott wave analysis and forecast for 23.08.24 – 30.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 141.66 with a growth target of 165.00 – 170.00. A buy signal: after the price returns above 141.66. Stop Loss: below 140.50, Take Profit:…
Bitcoin has been lagging in the recovery from the broad market rout in the start of August, in part because of worries about the sale of Mt. Gox bitcoin. But it’s making up for lost time today, rallying nearly 5% and trading at a session high. The daily chart has a nice look as it breaks out of two…
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that the Fed has seen broad success in achieving its goals, and that inflation should continue to head towards the US central bank’s target range. Key highlights I support the Fed’s new focus on the job markets. Inflation is on a path to 2%. Policy is now…
2024.08.23 2024.08.23 WTI Crude Oil: Elliott wave analysis and forecast for 23.08.24 – 30.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: once a correction forms, consider short positions below the level of 78.85 with a bearish target of 63.50 – 53.60. A sell signal: after the price returns below 78.85. Stop Loss:…
The S&P Global’s August PMI reports reflected solid expansions of the U.K.’s private sector activity, with the manufacturing sector jumping to a 26-month high while the services sector rising to a four-month high. The composite index measuring both the manufacturing and services sectors was also under the spotlight as it hit its highest levels since April: Manufacturing PMI rose…
European stock markets have recouped all the declines from the early-August rout with another strong rally today. It’s the fourth gain in five days this week. On the day: Stoxx 600 +0.5% German DAX +0.8% France CAC +0.7% UK’s FTSE 100 +0.5% Spain’s IBEX +1.1% Italy’s FTSE MIB +1.0% On the week: Stoxx 600 +1.4% German DAX +1.7% France…
Federal Reserve Chairman Jerome Powell said that the time has come for the monetary policy to adjust while delivering opening remarks at the annual Jackson Hole Economic Symposium on Friday. Key quotes from Powell’s speech at Jackson Hole Symposium “We do not seek or welcome further cooling in labor market conditions.” “We will do everything we can to support a strong…
2024.08.23 2024.08.23 XAUUSD: Elliott wave analysis and forecast for 23.08.24 – 30.08.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 2430.30 with a growth target of 2600.00 – 2700.00. A buy signal: the price remains above 2430.30. Stop Loss: below 2400.00, Take Profit: 2600.00…
Forex trading is an after-work (or maybe during work) hobby and happens if and when you have enough strength to keep your eyes open. You haven’t gained the trading experience to take it full time, but that’s the dream. And a great dream it is. But it seems like the days are getting shorter, and there’s never enough time…
