USD/JPY, H4 11 March 2024 The USD/JPY pair extends its aggressive decline, weighed down by a narrowing interest rate differential between the US and Japan. Growing anticipation of the Bank of Japan exiting ultra-dovish policies fuels market demand for the Japanese yen. Policymakers' emphasis on a positive wage cycle and the potential for inflation to surpass the...
EUR/USD, H4 11 March 2024 The EUR/USD pair continues its upward momentum, primarily driven by the depreciation of the US Dollar. Despite the worse-than-expected US Unemployment rate and Average Hourly Earnings, triggering a significant sell-off in the Greenback, the Euro remains resilient. While the Eurozone lacks significant market catalysts, the unexpected...
GBP/USD, H4 11 March 2024 Pound Sterling experiences a surge against the US Dollar, propelled by discouraging US Unemployment data. The US Bureau of Labor Statistics (BLS) reports soft wage growth and a notable spike in the Unemployment rate for February. Despite better-than-expected Nonfarm Payroll data, the pessimistic economic outlook fuels expectations of a...
🔖XAU/USD, H4🔖 11 March 2024 Gold prices enjoy continued gains, propelled by a weakening US Dollar. A series of lacklustre US economic data, coupled with dovish statements from the Federal Reserve, diminish the appeal of the greenback. The focus shifts to forthcoming inflation reports, where a continued decline in US inflation may heighten expectations for Fed...
💵 DOLLAR_INDX, H4 💵 11 March 2024 The US Dollar grapples with losses as key employment indicators present a mixed picture. The disappointing unemployment rate and hourly earnings figures contrast with a robust non-farm payroll report, leaving the greenback in a delicate position. Bloomberg reports reveal that Federal Reserve Chair Jerome Powell and colleagues...
🛢 CL OIL, H4 🛢 8 March 2024 Oil prices have faced challenges in sustaining upward momentum, despite factors that traditionally might boost prices, such as the easing strength of the dollar and potential dovish policy shifts from the Federal Reserve. However, there was a slight rebound in oil prices in the latest trading session, attributable to a temporary supply...
USD/CAD, H4 8 March 2024 The Canadian Dollar experienced a notable resurgence as the market absorbed the hawkish sentiments emanating from the Bank of Canada. In its most recent monetary policy decisions, the BoC opted to maintain its interest rates at 5%, with the Bank rate and deposit rate held at 5.25% and 5%, respectively. The central bank affirmed its...
GBP/USD, H4 8 March 2024 GBP/USD made significant gains buoyed by optimism surrounding the UK's budget announcement. Chancellor of the Exchequer, Jeremy Hunt, revealed positive forecasts from the Office for Budge Responsibility (OBR), anticipating a 0.80% economic growth in 2024-- 0.50% higher than the previous autumn forecast. Hunt announced a tax rate cut in...
💵 DOLLAR_INDX, H4 💵 8 March 2024 The Dollar Index has undergone a substantial decline for a second consecutive session. This can be attributed to the messaging from the Federal Reserve chief during the testimony, indicating that the U.S. central bank is approaching its targeted inflation rate of 2%, and the Fed is on the verge of adjusting its monetary...
CL OIL, H4 7 March 2024 Oil prices have rebounded from their liquidity zone and maintained their previous high levels, forming a double top price pattern. The dovish stance from the Fed's testimony has provided support for higher oil prices. Additionally, the weekly U.S. oil reports falling short of expectations suggest an improvement in oil demand in the U.S.,...
USD/JPY, H4 7 March 2024 The Japanese yen demonstrates resilience, outperforming other currencies amid hawkish expectations surrounding the Bank of Japan. Speculation of a potential interest rate increase surfaces as the country experiences a robust economic recovery. In contrast, Federal Reserve Chairman Jerome Powell hints at the prospect of interest rate cuts...
AUD/USD, H4 7 March 2024 AUD/USD benefits from additional US Dollar losses, aligning with a significant pullback in US Treasury yields amid speculation about an anticipated interest rate cut by the Federal Reserve in June. Ongoing developments in China warrant scrutiny, with potential stimulus measures providing temporary relief. Sustained positive economic...
EUR/USD, H4 7 March 2024 The Euro has strengthened against the dollar, reaching its highest level in over a month, propelled by a weakening dollar. Anticipation surrounds the upcoming ECB interest rate decision, with the market expecting the ECB to maintain a stance of being "in no hurry" to cut interest rates in its policy statement. This sentiment has led the...
GBP/USD, H4 7 March 2024 GBP/USD sustains an upward trajectory, driven by the US Dollar's depreciation. Despite the optimism, uncertainties loom ahead of the UK's 2024 budget announcement before the election, with market anticipation for potential tax rate cuts. Detailed plans remain elusive, prompting investors to vigilantly monitor developments for nuanced...
GBP/JPY is currently trading at 189.962, showing signs of potential downside momentum. Here's a concise breakdown: 1. Technical Levels: - Current Price: 189.962 - Retest Zone: Keep an eye on the 190.050 level for a possible retest. - Downside Target: Targeting the demand zone around 188.884 for potential support. 2. Trade Setup: - Short Opportunity:...
Crude oil has recently encountered resistance and experienced a pullback from this level. However, it is currently trading within an ascending channel, suggesting that the bears are losing momentum, while the bulls are gaining control of the market dynamics. Key Observations: 1. Resistance Encounter: Crude oil faced resistance at a significant level, prompting a...
Hey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top posts from our community, which includes a video tutorial on “The Leap” - our first ever paper trading competition, an informative post about Nvidia’s euphoric rise, and all the latest headlines, earnings, and economic events. 💡🎥 The Leap - Win up to...
After forming of the desceding channel the price reached to supply zone combine with resistance line. The resistance line is not so hard because the prices have touched it only 2 time and now is the 3rd. Everything depends on the data which eurozone will share. If they are positive for the EUR then may be after a retest, an idea for long position will be great. If...