The USD/CAD exchange rate has reversed, reaching the resistance at 1.3750. The Canadian dollar has gained momentum due to support from the U.S. dollar (DXY) at 106.00. The S&P500 has started declining due to market uncertainty linked to tensions in the Middle East and quarterly results. The Israeli leader has ordered an operation in Gaza, raising concerns about...
In the Asian session on Monday, the EUR/USD exchange rate dropped below 1.0600 due to developments in the Middle East, weakening the bullish prospects of the pair. The US dollar gained strength due to higher yields and a decline in stocks. However, there are some positive signals for EUR/USD, with technical indicators showing the potential for further gains if it...
Hey Everyone, Please see our updated 4h chart levels and targets for the coming week. We had a continuation of the strong move up last week with price finishing off with testing weighted resistance at 1955 on the 4H chart and then support at 1980. EMA5 cross above 1995 will open the levels and range above to track and trade or a cross and lock below 1980 will...
Analyzing the options chain and the chart patterns of NOW ServiceNow prior to the earnings report this week, I would consider purchasing the 470usd strike price Puts with an expiration date of 2024-5-17, for a premium of approximately $27.80. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward...
In this update on GBP/USD, the currency pair initially dropped to the 1.2100 level due to disappointing economic data from the UK. However, it managed to recover to around 1.2150. Market sentiment remains negative, with investors focused on news related to the conflict between Israel and Hamas. The Relative Strength Index (RSI) indicator on the 4-hour chart has...
If you haven`t bought WAL here: Then analyzing the options chain and the chart patterns of WAL Western Alliance Bancorporation prior to the earnings report this week, I would consider purchasing the 48usd strike price in the money Puts with an expiration date of 2023-10-20, for a premium of approximately $2.12. If these options prove to be profitable prior to...
The relationship between the Euro (EUR) and the US Dollar (USD) is maintaining a tight range below 1.0600 towards the end of the week. The lack of significant data releases is contributing to the cautious market attitude, which is supporting the strength of the US Dollar. This situation makes it challenging for the EUR/USD relationship to gain momentum. Over the...
Hello traders! My opinion is that the pair is in the channel scheme. The price has reached the zone of consolidation, which means it has brought a confirmation for sell at the level (1.0440). Key level (1.0440)! If the bears keep the move, we have a possible scenario and a test of the level (1.02870), but if the bulls reverse the move, we can have a retest of the...
The price of gold has risen to nearly $1,980, reaching its highest level since July. This increase has been driven by escalating tensions between Gaza and Israel, despite the ongoing rise in US Treasury yields. Gold has surpassed significant technical indicators and is now aiming to breach the $1,988 threshold before potentially reaching $2,000. The 14-day RSI...
Alright guys you win some you lose some, I'm looking for another positiopn on USDCAD in a stronger area. Lets see how the trade plays out.
The EUR/USD is trading below 1.0550 in the early European session on Thursday, primarily due to ongoing tensions in the Middle East, which are bolstering the safe-haven US Dollar. Investors are cautious ahead of a speech by Fed Chair Powell. The EUR/USD briefly touched 1.0595 but then retreated, forming a short-term double-top pattern. A drop below 1.0560...
Initially, the exchange rate between the British pound (GBP) and the US dollar (USD) showed an increase, surpassing 1.2130 but encountering resistance at 1.2175. Despite inflation in the UK, the pair consolidated with slight losses due to the strength of the US dollar. Currently, it fluctuates between 1.2190 and 1.2200, in line with Fibonacci retracement levels at...
The British pound fell to a new record low against the US dollar on Wednesday, October 18, 2023, after the Bank of England raised interest rates by 0.75 percentage points, but signaled that it may slow the pace of hikes in the coming months. This suggests that the BoE is more concerned about a recession than about inflation, which could lead to further weakness in...
The USD/JPY exchange rate is holding around 149.75 during the early Asian trading hours, supported by an increase in US Treasury bond yields. Investors are on alert for the possibility of intervention by Japanese authorities near the 150.00 level. Despite a brief dip towards 148.80, the pair quickly recovered around 149.50, anticipating the upcoming inflation...
During the first half of Tuesday, the EUR/USD exchange rate maintained stability around 1.0550, showing a narrow range. Buyers continued to exert upward pressure, capitalizing on the persistent weakness of the US dollar. Additionally, positive data from Germany supported the euro, with the German ZEW Survey for October indicating an improvement in Economic...
Longs, shorts, longs, shorts. Overall Bearish on the UCAD however I'm looking for a DXY pump while we wait for the next area to hop into a nasdq short
Technicals played out beautifully. Remember guys the name of the game is SURVIVAL. Dont be afraid to take profits, I took 90% of profits and I'm letting the rest run with a stop loss at BE. Good trade boys.
The recent decline in the price of gold is primarily due to increased risk aversion, leading to a surge in demand for the US Dollar as a safe-haven asset. This shift is driven by persistent concerns regarding the Chinese property market, particularly the potential default of Country Garden's offshore debt if a payment due on Tuesday is not made. Additionally, the...