The US dollar eased slightly after the US published strong jobs numbers on Friday. According to the Bureau of Labor Statistics (BLS), the economy created over 303k jobs in March, higher than last month’s 270k. The figure was higher than the median estimate of 212k.
Additional data revealed that the unemployment rate retreated from 3.9% to 3.8% while the...
GBP/USD Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
NZD/USD Short
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates...
On the 1 hour chart, we can see more closely the recent price action with the pair now trading at the support zone. If the price were to break above the black counter-trendline, we can expect the buyers to gain even more conviction and increase the bullish momentum, although a lot will depend on the US NFP report today as strong figures across the board will likely trigger
EUR/USD Long
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
EUR/CAD Long
Minimum entry requirements:
• If 3 touch 1H continuation or 2 touch 1H continuation with 3 touch structural approach, 15 min risk entry within it.
USD/CHF Short
Minimum entry...
In the bigger picture, correction from 151.81 (2023) high could have completed at 140.25 already. Rise from 127.20 (2023 low), as part of the long term up trend, is probably ready to resume. Decisive break of 151.93 resistance (2022 high) will confirm this bullish case. Next medium term target will be 61.8% projection of 127.22 to 151.88 from 140.22 at 155.21 This...
The Hamburg Commercial Bank (HCOB) and S&P Global released the final estimates of the March Services and Composite Producing Managers Index (PMI), which indicated a subtle yet pivotal shift in the services sector's trajectory. The HCOB Germany Services PMI edged up to 50.1 from 48.3 in February. The survey's findings of sustained job creation and strategic hiring,...
The US will also publish the final estimate of Q4 GDP data. In its last report, the statistics agency said that the economy expanded by 3.2% in Q4 after growing to 4.9% in the previous month. The US will publish this week’s initial and continuing jobless claims.
The most important data of the week will be the US personal consumption expenditure (PCE) report set...
The 14-period Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, indicating indecisiveness among investors.
A downside move below February 22 low at 1.3442 would expose the asset to February 9 low at 1.3423. A breakdown below the latter would extend downside towards January 15 low at 1.3383
On the flip side, the Loonie asset would observe a...
This opens the door to this currency pair to advance well above $1.2667, with room to rise as high as $1.2720 without reaching another resistance level.
So, I see the best potential opportunity today as a long trade above $1.2667, but a bullish signal is needed to trigger entry – ideally this would be two consecutive higher closes above $1.2662 during today’s...
GBP/USD Short
Minimum entry requirements:
• Tap into area of value.
• 1H impulse down below area of interest.
• If 2 touch 5 min continuation, reduced risk entry on the break of it.
• If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
GBP/CAD Short
Minimum entry requirements:
• If 3 touch 1H continuation...
The price of Bitcoin whipped to a new high in the US morning session and in the process extended above the high price for the week at $71572. The high for the day was reached at $71754, but buyers
The subsequent run to the downside, next took the price below the lows for the day and in the process entered into a swing area between $68249 and $68864. THe low price...
The USDCHF earlier today reached up to the highest level of the year at 0.90949. However the last three or four hours have seen a rotation to the downside after the weaker than expected ISM nonmanufacturing data. Fed's Powell also, the market at that sending yields lower and the US dollar lower in the process.
That good news sent the price of the USDCHF down below...
Inflation in the eurozone continues to decline. March CPI eased to 2.4% y/y, down from 2.6% in February and below of the market estimate of 2.6%. This matched November’s 28-month low and was driven by the continued slowdown in food inflation. Monthly, CPI rose to 0.8%, up from 0.6% but below the forecast of 0.9%.
Core CPI also declined, with a reading of 2.9% y/y....
Meanwhile, any corrective decline now seems to find support near the $2,275 area ahead of the $2,255 level. This is followed by the weekly low, around the $2,227 region, which, if broken, might prompt some technical selling and drag the Gold price back toward the $2,220 psychological mark. The latter should act as a key pivotal point, and a convincing break below...
As a result, they expect that the Fed will start cutting rates in the second half of the year. Mester wants to see more data while Mary Daly estimated that the bank would deliver three cuts as it hinted in the last meeting.
Michele Bowman and James Williams spoke on Tuesday but did not provide any details about rate cuts. Jerome Powell, the Fed Chair
Range trading continues in USD/JPY and intraday bias remains neutral. On the downside, break of 150.25 support should confirm short term topping, and turn bias back to the downside for 55 D EMA (now at 149.35). Nevertheless, sustained break of 151.92 key resistance will confirm long term up trend resumption. Next near term target will be 61.8% projection of 140.25...
