Today's focus: Nasdaq
Pattern – Range
Support – 17,832
Resistance – 18,355
Hi, traders; thanks for tuning in for today's update. Today, we are looking at the Nasdaq daily.
Price remains range-bound. Do traders feel today's CPI will be bearish or bullish?
Yesterday, buyers showed some strength, stopping a bear move and reversing losses. Could good news on...
The British pound has extended its gains on Thursday. In the North American session, GBP/USD is trading at 1.2772, up 0.32%.
The UK will wrap up a busy week with retail sales on Friday. The July report is expected to show a decline in consumer spending. Headline retail sales are expected to fall by 0.5% after a 0.7% gain in May and core retail sales are projected...
The Japanese yen is showing strong gains on Thursday. In the European session, USD/JPY is trading at 143.82, down 0.57%.
The Federal Reserve has been aggressively tightening rates in order to curb inflation but took a pause in June after ten consecutive hikes. At the meeting, the Fed said that a pause would provide members with time to assess the impact of the...
The Australian dollar has posted limited losses on Thursday. In the European session, AUD/USD is trading at 0.6822, down 0.17%.
The Australian dollar rocketed higher on Wednesday, rising 1.6% and hitting a 3-week high. This followed reports that China was considering easing its ban on imports of Australian coal. The ban has been in place since 2020, but relations...
The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%.
Ask any British consumer, and they'll tell you that food prices have been going through the roof. The BRC provided data in that regard, stating that food inflation hit a record 13.3% in December, up from 12.4% in November. The...
The US dollar is showing strong gains against the majors on Tuesday, with the exception of the Japanese yen. EUR/USD has tumbled by 1.27% and is trading at 1.0528 in Europe.
EUR/USD is sharply lower today, despite a very light economic calendar. The only release of note is German CPI, which will be released later today. Despite the lack of fundamentals, the US...
Hi, and welcome to Wednesday’s update. Today we are looking at the USD, and it’s hard not to focus on the dollar with all the key news that’s on the way.
From tonight, 11:30 local time (AEDT), we have PPI followed by the Fed minutes at 5:00 am and US CPI data at 11:30 pm to cap it off. The CPI data being released will be both the M/M EXP 0.2% and the Y/Y EXP...
The New Zealand dollar has taken a tumble today. In the European session, NZD/USD has declined by 0.88% and is trading at 0.6289. We continue to see plenty of volatility from the New Zealand dollar. Last week, the currency rose 3.33%, but has pared those gains this week and is down 2.47%.
The RBNZ dutifully raised interest rates by 0.50%, for a fourth straight...
The Japanese yen has moved higher on Thursday, as tensions are once again rising over the Ukraine crisis.
Invasions fears have ratcheted upwards after NATO warned that Russia could use a border skirmish as a pretext for a full-scale invasion of Ukraine. The US has rejected Moscow's claim that it is reducing its military presence on the border and Russia expelled...
The Japanese yen continues to have a quiet week and is trading at 115.46 in the North American session, down 0.12% on the day.
The US dollar enjoyed a boost earlier in the week as tensions between Russia and the West reached a fever pitch. Now that the situation has stabilized somewhat, investors are breathing easier and the dollar has lost ground. Still, there...
The British pound has fallen for a second straight day. Currently, GDP/USD is trading at 1.3717, down 0.28% on the day. The pair is down about 1 percent since Monday and has dropped into 1.37-territory.
The pound is under pressure, and even a strong Services PMI was not enough to prevent losses on Wednesday. Service providers reported growth in March, with the...
We still see AUDUSD moving lower despite the recent rebound on the back of there be no significant progress towards a resolution in the US/China trade war. We will await FED minutes on Wednesday which could indicate future FED rate monetary policy but our near term target is for the currency pair to fall back below 0.67 in particular if there is negative economic...
We still see EURUSD moving lower despite the current move of the currency pair above the resistance level at 1.09838. We are now awaiting EUR German Industrial Production data tomorrow as well as the FED minutes on Wednesday which could lead to further volatility and price action.
Find out on the next episode of Dragon Ball DXY...
Or we could just guess with what we know now like any analyst. Expecting fed meeting minutes to state what the fed members are stating already, they believe the economy is still resilient and does not need too much expansionary policy, cuts above standard aren't necessary, etc. These statements will reassure many...
Have a look at the attached link for full analysis of this trade setup
BUYLIMIT ORDER: 1.15000 LEVEL
STOP LOSS: 1.14000 LEVEL
TAKE PROFIT: 1.16000 LEVEL
RR: 1:1
SHALL THERE BE ANY UPDATES YOU WILL FIND THEM BELOW IN THE COMMENT SECTION
June FOMC Minutes Highlights:
- FOMC Minutes: Fed Officials Divided on Rate Path Amid Uncertain Economic Outlook
-FOMC Minutes: Members Said Prudent to Wait for More Labor Market Data, Brexit Vote Before Raising Rates
-FOMC Minutes: Prior to Brexit Vote, Staff Saw Uncertainty Holding Down Investment in U.K.
-FOMC Minutes: Members Judged It Appropriate to...
