Author: FX
Fundamental OverviewThe bullish momentum in the US Dollar seems to be waning despite the recent higher-than-expected US CPI and PPI reports. One caveat is that the market has now priced out the aggressive rate cuts expectations and it’s almost perfectly in line with the Fed’s projections. Therefore, we will likely need more strong US data to see the market pricing in an earlier pause in the Fed’s easing cycle and give the US Dollar a further boost. In the bigger picture, it looks like the US long term yields are bound to rise further, which should keep the recent uptrend…
GRASIM Elliott Wave technical analysis Function: Larger Degree trend Higher (Intermediate degree, orange. Wave (5)). Mode: Motive. Structure: Impulse. Position: Minute Wave ((iii)) Navy. Details: Minute Wave ((iii)) Navy of Minor Wave 5 Grey progressing higher within Intermediate Wave (5) Orange against 2490. Alternatively, Wave (5) Orange is complete above 2900. Invalidation point: 2490. Grasim Industries daily chart technical analysis and potential Elliott Wave counts Grasim Industries daily chart is indicating a progressive rally, which is unfolding Minute Wave ((iii)) Navy within Minor Wave 5 Grey of Intermediate Wave (5) Orange against 2490 support. Alternatively, Wave (5) Orange already terminated…
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the Flip 55 strategy has identified a trading opportunity on the GBP/USD pair within the H1 timeframe. I’ve shared a trade setup image for your…
Euro bears are holding their ground against the yen ahead of the ECB’s policy announcement! Think EUR/JPY will keep inside its range pattern in the next trading sessions? Or is the pair ready for a breakout? EUR/JPY 4-hour Forex Chart by TradingView In a few days, European Central Bank (ECB) members are widely expected to cut their interest rates, dragging the bank’s deposit rate 25 bps lower to 3.25%. But the Japanese yen isn’t doing too hot either, as it bows down to increased USD demand and an improvement in overall risk sentiment. EUR/JPY is up by about 400 pips…
It’s a slower start to the day once again but the dollar is keeping in a good spot, building on the gains in October so far. Tensions in the Middle East are fading but it is only oil prices mostly correcting on the back of that. In the equities space, Wall Street rallied in holiday thin trading with the S&P 500 touching another record high. Undaunted.Looking to today, there will finally be items on the economic calendar to move things along. In Europe, the UK labour market report is one to watch. But as has been the case previously, do…
New Zealand is gearing up to print its quarterly inflation figures that are likely to influence RBNZ policy expectations. Can an upside surprise put an end to their easing cycle soon? Here are a couple of setups I’m watching on NZD/JPY and NZD/CAD in the event of hotter-than-expected New Zealand inflation. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
New Zealand is about to drop its Q3 inflation numbers! Today we’re looking at NZD/USD and AUD/NZD possibly extending their October trends in the event that New Zealand’s price pressures come in weaker than market estimates. Check it! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
USD/CAD attracts buyers for the tenth straight day and draws support from a combination of factors. Bets for smaller Fed rate cuts assist the USD to preserve its recent strong gains to a two-month high. Weaker Oil prices undermine the Loonie and act as a tailwind for the pair ahead of the Canadian CPI. The USD/CAD pair trades near its highest level since August 6 during the Asian session on Tuesday, with bulls making a fresh attempt to build on the momentum beyond the 1.3800 round-figure mark. The US Dollar (USD) stands tall near a two-month high amid expectations for…
Market correlations seemed to be all over the place on Monday, as crude oil had a massive selloff while U.S. equities raked in decent gains. What’s up with that?! Read on to see the latest headlines and economic reports driving price action so far: Headlines: China’s finance minister said on Saturday the government would “significantly increase” debt issuance to boost economic growth and help the property market but did not provide details China held large-scale military exercises surrounding Taiwan and its outlying islands to warn against “independence forces” on the Beijing-claimed island OPEC further trimmed outlook for growth in oil…
Investing.com– Oil prices fell sharply in Asian trade on Tuesday, extending recent losses amid growing concerns over a demand slowdown, while a report suggesting that Israel will not attack Iranian oil facilities also weighed. Crude prices tumbled around 3% on Monday after top importer China logged a fifth straight monthly decline in oil imports, spurring fears of weak demand. These fears were exacerbated by the Organization of Petroleum Exporting Countries cutting its oil demand outlook for a third consecutive month. expiring in December fell 3% to $75.16 a barrel, while fell 3% to $71.03 a barrel by 21:19 ET (01:19…