Following a profitable week for Gold (see link below for reference purposes); the rally in gold shows that it has become the spotlight as the banking crisis drove more investors towards it for safe havens. Gold hit 11-month highs, breaking from the mid-$1,900 zone and strongly heading for the $2,000. As the fears that the U.S. economy could end up in a deep...
The U.K. economy reflected signs of positivity with preliminary estimates showing gross domestic product rose by 0.3%. However, the potential to raise interest rates at the BoE's next meeting in two weeks’ time remains on the table as inflation has been running at around 10% for the last six months. From a technical perspective, it is obvious that price action is...
Following a profitable week, price action is at a critical juncture in the market where both a bullish and bearish momentum could be triggered in the new week. The new week is laced with a series of macroeconomic events; so we shall be focusing on the fundamental event for signals to make an informed decision. BoJ Monetary Policy Meeting Minutes - its first...
Following the reversal of Covid-19 policy — the Chinese manufacturing sector posted its biggest improvement in more than a decade last month, service/activity is climbing and the housing market is stabilizing. Economists speculate that the reopening may see Chinese oil consumption hit a record high this year and It was indeed a positive week for the oil commodity...
In the absence of high-impact events from the UK this week, the anticipation of the testimony by Fed Chair Jerome Powell on Tuesday and Wednesday as he delivers the semi-annual monetary policy report to lawmakers is on everyone's radar. Obviously, his comments will shed light on whether stakeholders are in tune with the central bank’s view on how high it will have...
The personal consumption expenditures (PCE) price index witnessed its biggest increase in six months bringing the index to 5.4% for the last year - a whopping 0.6% increase. As the Federal Reserve gears to ratchet up rate hikes again amidst fear of inflation, Gold appears to be consumed by the same inflation that it is supposed to be a hedge against. With prices...
Despite the rebound in UK consumer confidence in February and the GfK’s consumer confidence indicator jumping seven points to -38 (a 10-month high), the Pound Sterling relinquished its previous gain to close the week above a strong demand zone at the $1.19000 zone. Supported by strong economic data, the demand for the Greenback has virtually increased in the last...
The US oil still found a way to finish in neutral territories as bulls jumped in to buy into a market that scraped three-week lows just two days earlier at the $74.00 zone. The hopes of increased demand are still a possibility in this market as the Chinese government (the world's largest importer of crude oil) has lifted all COVID restriction policies hereby...
Since the last publication; price action moved over 400 pips in our direction (see link below for reference purposes) as the Greenback rose 0.6% to close the week just below the 135.000 zone. The Japanese yen was among the worst-hit Asian currencies as the US Dollar hit a six-week high against a basket of currencies after stronger-than-expected inflation readings...
OPEC+ panel endorsed the oil producer group's current output policy at a meeting on Wednesday - 2nd February 2023, leaving production cuts as agreed last year in place amid hopes of higher Chinese demand and uncertain prospects for Russian supply. Despite fundamental expectations, the US Oil prices tumbled 8.5% during the course of last week's trading session to...
Gold was unable to crack the psychological level at $1,950 to bring fresh hopes of a new wave of bullish momentum and this can not be unconnected to the reassuring U.S. economy as the fear of recession recedes at least in the meantime. Data reported on Friday reveals that the PCE Index grew 5% in the year to December, versus an annual expansion of 6.8% in June...
Despite price action being caught within a channel between the 143.000 and 138.000 level since the beginning of the year; We have identified a flat channel on the 4H timeframe which we shall be using to guide our trading activities for this week. Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high...
This is a follow-up video to my previous analysis on the US Oil commodity as we close the previous week on a profitable note with over 300pips in profit (see link below for reference purposes). China being the world's number one importer of crude oil - the start of the Chinese New Year holiday will be closely watched to see if travel activities will be as robust...
The Gold continues its bullish momentum as it neared a nine-month high on Friday to close the week at the $1,920 level which shall be the basis for our trading activities in the coming week(s). As confidence that the Fed is almost done with raising rates gets stronger by the day, will the Gold experience a retracement phase in the coming week? In this video, we...
This is a follow-up detail to my previous analysis of this commodity where we closed the week with approximately 200pips profit. Oil prices plunged about 1% on Friday after top crude oil importer China widened its COVID-19 curbs, though the price of oil rose during the course of last week's trading session after a significant breakout of the much anticipated...
Still not in a short position but was expecting to see this push down. Just thought id break it down and show the next couple areas I'm interested in, long term I see the trend continuing but ill be looking for longs on the retracement just in case.. always remember to trade with a plan and stick to it!
Last Friday NFP's positive report appears to have interrupted the downside turn. Despite the strong bearish expectations from the majority; the bulls could be about to make their move as multiple rejections of the $1,700 area from the buyers occurred for the second time in the last two weeks. In this video, I detailed my expectations based on the current structure...
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