weekly USDJPYMUFG Research added a short USD/JPY position (spot ref: 149:60) to its TOTW portfolio. The trade has a target at 143.00, and a stop at 152.10. "We want to maintain some exposure to a further weakening of the US dollar and believe long JPY may be the best...
Baker Hughes oil rig count +6 to 500
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,...
USDJPY sellers gain momentum as they test November low
As the week comes to an end, the USDJPY fell sharply and in the process tested the low from early November at 149.175. The low reached 149.192 before bouncing. The price is trading at 149.74. The double bottom mirrors the double top from the high this week (on...
OPEC+ sources:To consider whether to deepen oil output cuts at next meeting on November 26
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 rebounds as European traders’ exit. Above 100 hour MA now.
USDCADThe USDCAD is lower on the day, and in the process, fell below the 100-hour moving average in the early European session (blue line in the chart above currently at 1.37356).The subsequent fall to 1.3707 (reached in the morning North American session) so the...
European equity close: A strong finish to a great week
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,...
Bullish Momentum: AUDUSD holds above key moving averages
Today, the AUDUSD has moved up from a swing area support between 0.6445 and a 0.6455 (see red numbered circles on the chart below). The subsequent move to the upside took the price back above its 100-day moving average of 0.64874 (blue overlay line on the chart...
Atlanta Fed GDPNow Q4 2.0% vs 2.2% 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,...
Fed’s Collins: I wouldn’t take additional hiking off the table
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,...
Fed’s Goolsbee: We will do whatever it takes to beat inflation
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,...
USDCHF under bearish pressure as it fails to break key resistance
USDCHF remains below the 0.8900 level. Sellers in control.The tumble lower in the USDCHF took the price below its 100-day moving average at 0.8896 (blue overlayed step line on the chart above), 50% retracement at 0.88999, and Swing level near the 0.89000 level (see...
US issues fresh Iran-related sanctions
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 stock indices dip in early trading, but still poised for a positive week
The major US stock indices are trading lower at the start of the Friday session. The market gave up earlier premarket gains employed by the futures. However, the indices are still on track for a positive week (3rd in a row).A snapshot of the market currently shows:Dow...
Fed’s Daly: Fed needs ‘the boldness to wait’ given uncertainty
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,...
EUR/USD Price Forecast: Retracement Incoming? Catalyst Needed if Bulls are to Remain in Control
EUR/USD, PRICE FORECAST:MOST READ: Oil Latest – US Crude Trying to Nudge Higher After Another Week of Heavy LossesThe Euro continues to hold the high ground against the Greenback following Tuesday’s explosive move to the upside. EURUSD is currently trading between two...
GBPUSD extends back up toward 200 day MA
The GBPUSD is trading below the 200H MA/38.2% retracementLike the EURUSD (see post here), the GBPUSD moved sharply higher on Tuesday helped by the weaker CPI data. That took the pair above its 200-day moving average currently at 1.2443, and 38.2% of the move down from...
Navigating Economic Shifts: UK Inflation Dynamics
October delivered a significant drop in headline inflation in the United Kingdom, primarily driven by base effects stemming from energy prices. While core inflation also saw a more substantial decline than anticipated by the Bank of England, these figures, although...
US equity futures modestly higher ahead of the open
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,...
Canadian pullback in discretionary services spending becoming more evident — RBC
RBC is out with its latest consumer spending tracker.Canada's largest bank uses its card-spending data to track spending patterns and in October noticed a shift away from vacations and eating-out and towards gasoline and clothing purchases.Spending on physical...
EURUSD continues to trade above and below the 50% retracement
EURUSD trades above and below the 50% midpointThe EURUSD has continued to move up and down as the trading week comes to an end. Recall from Tuesday, the parable sharply higher after the lower-than-expected CPI data. That took the price up to a high of 1.0867. On...