Gold declines but remains within the descending triangle pattern. Additionally, the correlation with the US Dollar weakens according to statistics. Last week, buyers increased the number of contracts by 25,734, and sellers decreased by 2,766. UK inflation declines...
Gold springs to life ahead of the Fed decision
Gold has quickly risen to a five-day high with a $10 pop in the last few minutes.There doesn't appear to be a catalyst for the sudden buying in a market that's otherwise settled ahead of the 2 pm ET FOMC decision.This might be a bet on a more-dovish-than-expected FOMC...
Chart overlays continue to lead people in the wrong direction
Overlaying two charts is the worst form of click-baity engagement farming. It works every time too.Guess what, history does rhyme but no one has ever made money overlaying a chart like this and even then, it's obviously manipulated to match two very-different things.I...
USDCHF extends above key retracement target. Trades at highest since November 14
The price of the USDCHF has followed the US dollar higher and in the process has been able to extend above its 61.8% retracement of the move down from the October 2023 high to the December low. That retracement level comes in 0.88957. In the process, the pair is...
ECB’s Schnabel: We may now be facing a turning point in real interest rates
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,...
US stocks trading mixed at the start of trading
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,...
US stocks all set to open mixed according to premarket futures
US stock futures are implying a mixed opening. Yesterday major indices moved higher led by the Dow 30 which rose at 0.83%. The S&P rose 0.56% and the NASDAQ index rose 0.39%.A snapshot of the futures market implies gains at the open:Dow Industrial Average implying...
Crude oil trades to a new session low at $81.21
The price of crude oil is trading down $1.38 or -1.67% at $81.36. The low price just reached $81.21.Looking at the hourly chart, the move lower has now taken the price below its 100-hour moving average at $81.50. That moving average will be a barometer for buyers and...
Kickstart your FX trading for March 20 with a technical look at EURUSD, USDJPY and GBPUSD
In the kickstart video for March 20, 2024, I take a look at the three major currency pairs from a technical perspective.The EURUSD is moving lower and in the process is testing it 200 day moving average at 1.0837. Recall from yesterday, the price also tested that...
Geopolitics: Germany’s Scholz says Russia not as strongest when he thinks
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,...
ECBs de Cos: surely expected latte policy impact is a downside risk to euro growth outlook
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,...
The USD is the strongest an the JPY is the weakest as the NA session begins
As the North American session As the North American session begins, the USD is the strongest of the major currencies. The JPY is the weakest a day after they hiked rates for the first time in 17 years. Yesterday the JPY was also the weakest. The USDJPY has reached a...
ForexLive European FX news wrap: Dollar nudges higher with the Fed in focus
Headlines:Markets:USD leads, JPY lags on the dayEuropean equities mixed; S&P 500 futures up 0.1%US 10-year yields down 0.9 bps to 4.288%Gold down 0.2% to $2,154.03WTI crude down 0.9% to $82.02Bitcoin down 0.8% to $63,199It was a slower session after a busy Tuesday...
US MBA mortgage applications w.e. 15 March -1.6% vs +7.1% prior
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,...
Market Recap – All eyes on FED
Economic Indicators & Central Banks: Treasury yields are sinking as bonds await the FOMC’s results. The market is recovering slightly from this month’s selloff that has taken rates to the highest levels since late November. Stock markets traded mixed...
USD/JPY eyes potential major breakout going into the Fed later
USD/JPY weekly chartA triple-top formation or a breakout to fresh highs since 1990? That is what awaits USD/JPY as we look towards the FOMC meeting decision later in the day.The dollar is trading firmer across the board in European morning trade, as it seems like...
ECB’s Lagarde says cannot commit to rate path even after first cut
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,...
Dollar holds firmer awaiting the Fed later in the day
The dollar is staying slightly bid on the session as it continues to keep in a decent spot so far this week. The move higher in USD/JPY is arguably a key reason for that. But as Treasury yields are continuing to sit well higher compared to its peers, it is another...
Bitcoin technical analysis, shorts should cover part or exit
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,...
A more cautious mood greets European stocks with the Fed in focus
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,...