Gold has been trending higher for a while now as traders hopped on the risk/safety trade going into the US election. Also higher inflation fear may have conttibuted. Finally, technicals were a help.Looking at the daily chart below, apart from a day or two in February,...
Bitcoing breaks $85,000 to hit another record high
There are times when the fundamentals and technicals align, the past week has certainly been one of those moments in bitcoin.The election of a crypto-friendly Republican slate combined with the break of a long-term range has been rocket fuel for bitcoin and it's now...
Joe Biden was the most-bullish President for oil in history
Four years ago I wrote about: Why Joe Biden could be the most-bullish US President for oil in history.He was. Between his election and today, the price of crude nearly doubled. Shares of the XLE oil company ETF more than tripled.Of course, my case wasn't really about...
S&P 500 slips into negative territory
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,...
USDCAD moves lower after testing ceiling area between 1.3945 and 1.3958
The USDCAD has backed backs off from ceiling area again. That area comes between 1.3945 and 1.3958. The subsequent move to the downside has the pair heading toward 200 and 100-hour MA support targets at 1.39054 and 1.3898 respectively (green and blue lines on the...
European traders head for the exits with solid gains in their pockets
The major European stock indices are closing with solid gains led by the Italy's FTSE MIB up 1.56%. Both the German DAX and France's CAC enjoyed gains of 1.2%.The final numbers are showing:German DAX +1.22%France's CAC, +1.2%UK's FTSE 100 +0.65%Spain's Ibex...
Gold futures is playing with fire with this key support 🧐
Gold futures warning: bull flag breakdown points to further downside risk for GC traders 📉Gold futures (GC) have recently broken out of a significant bull flag formation, and after a strong rally, prices have now pulled back, raising concerns among traders and...
USDCHF trades above and below the 50% midpoint of the move down from the May high
The USDCHF has moved higher in trading today and in the process moved above the swing highs from last week and swing area between 0.8772 to 0.8776. That area is now a close risk and bias-defining level. Staying above is more bullish. The move above that area today has...
Crude oil is down $-2.20 or -3.12% at $68.20. Lowest level since October 30
The price of crude oil is trading down $-2.20 or -3.12% at $68.20. That's the lowest level since October 30.The price reached a peak on Thursday at $72.84. That the price briefly above its 38.2% retracement of the move down from the July high at $72.59. However on...
Bitcoin reaches a fresh session high (and another one, and another one).
The price of bitcoin is trading to a new fresh session high and is above the $83,000 level. The price is currently trading at $83,050. That's up about $2625. The high price has reached $83,139.Looking at the hourly chart below, the price extends above a channel high...
A kickstart look at the EURUSD, USDJPY and GBPUSD from a technical perspective
The USD is higher in trading today as the Trump trade continues. HIgher USD. Higher stocks. Bonds we don't know as the bond market is closed for Veterans Day today. Gold is lower but bitcoin in higher. In this video, I take a look at the EURUSD, USDJPY and GBPUSD from...
Nasdaq touches a record at the open then gives it back as Nvidia slides
Nasdaq dailyUS stock markets opened strongly to the upside, led by a 1.1% rally in the Russell 2000, but there are signs of fatigue setting in. The Nasdaq opened higher but is now down 0.1% as shares of Nvidia fall 1.4%.It's been a one-way market since the election...
USD/CAD is once-again threatening a four-year high
USD/CAD dailyUSD/CAD trading could be sapped today by holidays but the pair remains dangerously close to a major break. The 35 pip rise today brings the pair to 1.3941 and within striking distance of the 2022 high of 1.3977.It's chopped around these levels since late...
Gold spills through last week’s lows in $40 decline
Gold and bitcoin have been rallying together all year but they're headed in different directions today. Bitcoin jumped on the weekend and hit a record $82,500 today but gold is backing off, down $42 to a session low of $2641.Some stops were hit in the past few minutes...
Bond won’t be spoiling the party in US trading today
It's Veterans Day in the US and Remembrance Day in Canada.It's one of those holidays that's not quite a holiday as stock markets will trade normally but the bond market is closed. It's also one of those holidays where government offices are closed, which means there...
What technical level are in play to start the US session in the major currency pairs
The USD is higher and so is Bitcoin (up to $82500 high) as traders continue to price in the Trump presidency. The hope is lower regulation, lower corporate taxes, tariffs making US goods more competitive without spurring inflation too much are some of the themes. The...
ForexLive European FX news wrap: Dollar gains as Trump trades continue
Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.4%Gold down 0.8% to $2,661.46WTI crude down 1.8% to $69.09Bitcoin up 2.5% to $82,415It may be a partial market holiday in the US but the dollar is looking to keep its...
Gold pullback might prove to be timely for dip buyers
Gold is down another 0.7% today as a firmer dollar and higher yields since the election looks to be weighing. Alternative flows into Trump trades such as Bitcoin and stocks are also arguably in play, with gold not quite favoured as much in that sense. But how are...
Copper Technical Analysis – The sentiment remains cautious
Fundamental OverviewThe price action in copper remains choppy as the market continues to question Chinese economic growth and stimulus. On the other hand, we have also Trump’s victory and fears of a trade war. Copper has been tightly correlated to the Chinese stock...
Is Amazon stock a buy or sell?
Sell Amazon soon if it climbs to $217: Key levels and strategies for medium-term investorsHello, Itai Levitan here at ForexLive.com 👋, examining why Amazon stock could be a sell around $217. Currently priced just under $209, Amazon might see some upward momentum, but...