The analysis of the USDCAD pair indicates a bearish trend for the Canadian Dollar (CAD) against the US Dollar (USD), with the CAD declining for five consecutive days. The US Dollar's strength is partly due to better-than-expected US ISM Manufacturing PMI for December, despite it still indicating contraction. Canadian economic data is lacking, with no significant...
Current Market Behavior and Influences: Gold recently experienced a downturn, falling toward $2,050 during a particular trading session. This decline was primarily influenced by a rise in the 10-year US Treasury bond yield, nearing 4%. Higher bond yields usually reduce the appeal of non-yielding assets like gold, leading to a decrease in its price. Anticipation...
The euro has steadied on Wednesday after sustaining sharp losses a day earlier. In the European session, EUR/USD is trading at 1.0932, down 0.08% and its lowest level since December 21. The US dollar has been struggling in recent weeks but came flying out of the gates on Tuesday, the first trading day of the New Year. The euro fell 0.88% against the dollar, its...
Greetings Traders, As we delve into the intricacies of GBPUSD for potential trading opportunities, the convergence of fundamental factors takes center stage. This analysis encapsulates the interplay between interest rates, Consumer Price Index (CPI) data, and central bank decisions for both the Bank of England (BoE) and the Federal Reserve. Examining the BoE's...
Is it going to be the same story again for the USDJPY? In 2022, the USDJPY climbed to reach just below 152 before turning down to the 128 support level. The similar price movement played out in 2023 as the USDJPY rose from the 128 support level to retest the 152 resistance level. The USDJPY has reversed down to the 140 price area (50% Fibonacci retracement...
WTI Oil has climbed above $74 amid a volatile week leading to Christmas, influenced by Angola's planned exit from OPEC and rising tensions in the Red Sea. The US Dollar Index is nearing a significant fall, potentially reversing recent gains. Oil prices are approaching $84 due to increased geopolitical risks and disruptions in major shipping routes. The redirection...
Macro Monday 25 The Feds Favorite Inflation Barometer – Core PCE The US Core Personal Consumption Expenditures (PCE) are released this Friday 22nd December 2023. Currently Core PCE is the most important component to the Federal Reserve in making their interest rate decisions and thus it will provide a great insight into what lies ahead in terms of interest rate...
The great depression VS today's market structure! - trying to find synergies between both timeline's The Stock Market Boom and Crash of 1926-1933: An Applied Time Series Investigation I found this interesting how it aligns with today's market...
Be cautious buying this uptrend, and be especially cautious trying to catch the bottom of a mediocre company in a downtrend. I don't view the current environment to be fully risk off or fully risk on, but showing signs of the last leg of the business cycle. My preference is to target 20-30% cash and focus on companies with a high sharpe ratio, and lower ...
In anticipation of tomorrow's trading session, our focus keenly centers on the NASDAQ, where we are meticulously examining the potential for a strategic buying opportunity around the 16550 zone. The current trajectory of NASDAQ reflects a sustained uptrend, emphasizing a consistent upward movement. Presently, the index is immersed in a correction phase, gradually...
TLM one of the few Metaverse play with some life this WE. Volume is decent and bots just detected it. Let's C if can braeak before BTC nukes.
Hi Traders! USDJPY is on a pullback and re-testing the trendline break, which opens up opportunities for short entries on the market's pullbacks. Here are the details: The market recently broke both the support trendline and the descending channel. Our plan is to sell rallies by looking for an entry near the 20 EMA and a target exit near the monthly...
Did the federal reserve just set the tone for 2024? - done with the rate hike regime - wait for a bit more evidence on inflation - switch rate cut policy With a decision in March/May still looking the most likely for now, are we going to see more downside on the DXY In the technical aspect - Price reversed from resistance of 104.30 - Currently resting along...
I want to provide you with a detailed analysis of the situation surrounding gold, expressed from a first-person perspective. Here is a rephrased version of the information you provided: As I delve into the world of gold, I notice that it has recently shown remarkable resilience, surpassing the formidable $2,000 threshold on a Wednesday. This increase has been...
US FED Update: Fed leaves rates unchanged for third straight meeting which was on expected line (Little bit of relief for the anxious ones). (Neutral to Positive) Fed accepts that growth of economy "has slowed" since Q3 2023. (Neutral) Fed says they are committed to bring down inflation to 2%. (Neutral to Positive) Most Fed officials see interest rate cuts in...
Two days ago, just after the big liquidation which took us from 44.5k to 40.3k, I made a post where I argued that there were no worries for the bulls as long as the bottom support held. Around 40 minutes ago, there was another FOMC interest rate decision in favor of the bulls. Stock markets rallied and BTC followed suit. Crypto is rallying back towards previous...
Hello trader’s what do you think about gold Fomc news)? Now gold restaurants breakdown) retest support levels if breakout 1970 Target 1965)
All the attention will be on the FOMC's final policy decision of the year today, with no expectations of further tightening. The market's pricing of 125 basis point rate cuts in 2024 will be tested, and given the Fed's cautious approach, there's a likelihood that Powell and the team will resist these expectations during today's meeting. Whether the market will...