US NFP labor report eases expectations of a Fed rate cut, pushing XAU/USD prices lower. USD receives a boost from easing US-China tensions and better-than-expected US employment data on Friday, capping Gold gains. Gold prices threaten channel support with psychological resistance at $3,350. Gold prices are extending losses against the US Dollar (USD) on Friday, falling below prior psychological…
2025.06.06 2025.06.06 USD/JPY: Elliott Wave Analysis and Forecast for 06.06.25 – 13.06.25 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 146.32 with a target of 138.65 – 131.50. A sell signal: the correction ends and the price resumes declining from the 146.32 level. Stop Loss: above…
WTI crude oil daily The week began with OPEC adding barrels once again and there was also a mid-week report that Saudi Arabia wanted to keep adding 411K bpd in August and potentially September. Despite all that, oil is having a great week, up 6.5%. Perhaps some of that was relief that OPEC didn’t add even more barrels on…
Sterling still set for weekly gain over 0.80% amid broad Greenback weakness earlier in the week. US economy added 139K jobs in May, beating forecasts and reinforcing Fed’s cautious stance on rate cuts. Dollar strength resurfaces, with DXY climbing 0.58% to 99.28, its highest in two days. GBP/USD tumbled during the North American session, down over 0.30% after the…
2025.06.06 2025.06.06 XAU/USD: Elliott Wave Analysis and Forecast for 06.06.25 – 13.06.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: Once the correction ends, consider long positions above the level of 3125.72 with a target of 3600.00 – 3800.00. A buy signal: the price holds above 3125.72. Stop Loss: below 3080.00, Take Profit: 3600.00 –…
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…
GBP/JPY rises above the 20-day Simple Moving Average (SMA), providing support at 194.21. The Relative Strength Index (RSI) is nearing 60, suggesting that momentum remains in favour of the bulls. A decisive break above 195.00 could push prices back to 196.00 The Japanese Yen (JPY) continues to weaken against the British Pound (GBP) on Friday, with the GBP/JPY pair…
2025.06.06 2025.06.06 WTI Crude Oil: Elliott Wave Analysis and Forecast for 06.06.25 – 13.06.25 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Major Takeaways Main scenario: After the correction ends, consider short positions below the level of 72.20 with a target of 52.80 – 45.00. A sell signal: the price holds below 72.20. Stop Loss: above 73.50, Take Profit:…
The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market’s reaction is the distribution of forecasts. In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound of the range, so…
Nonfarm Payrolls are expected to rise by 130K in May, down from the 177,000 increase recorded in April. The United States Bureau of Labor Statistics will publish the employment report at 12:30 GMT. The US employment report could influence the odds of a July Fed rate cut, rocking the US Dollar. Nonfarm Payrolls (NFP), one of the most high-impact…
