Author: FX
Is gold about to break out soon? I’m seeing a fresh triangle consolidation pattern forming on its 4-hour chart, with price currently testing support. Gold (XAU/USD) 4-hour Chart by TradingView Gold prices have formed higher lows and hit resistance around the $2,700 mark, creating an ascending triangle that’s been holding since mid-November. Price has retreated back to its triangle support while risk appetite improved in the past week, and it looks like support is holding so far. However, the 100 SMA remains below the 200 SMA to suggest that the path of least resistance is to the downside. Are we…
Get ready for another busy trading week ahead! We’ve got three major central bank decisions, global PMI releases, and the Fed’s preferred inflation measure on deck. Here’s what market analysts are expecting for these top-tier catalysts. 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
We’ve got a crucial U.K. jobs report ahead that could determine the pound’s fortunes into year-end! With the Bank of England (BOE) still weighing rate cut timing and markets already jittery after October’s GDP miss, the mix of employment, wage growth, and claimant count data will give traders vital clues about sterling’s next big move. Can the labor market numbers help the pound bounce back from recent losses, or will they add to the growing case for BOE easing in early 2025? We have the points you need to know if you’re trading the event! This Article…
The data is here:China November: Retail sales +3.0% y/y (exp +4.6%) Industrial output +5.4% y/y (exp +5.3%)National Bureau of Statistics (NBS) comments: Positive changes in China’s economy further increasedExternal environment has become more complexDomestic demand remains insufficientSome enterprises face operational difficultiesThe foundation for sustained economic recovery and improvement still needs to be strengthenedTrend of recovery in consumption has not changed This article was written by Eamonn Sheridan at www.forexlive.com. Source link
On Monday, the People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1882, as compared to Friday’s fix of 7.1876 and 7.2769 Reuters estimates. Source link
The Scalper Signal and AO Divergence Forex Trading Strategy is designed for traders looking to capture short-term price movements in the forex market. As a scalping strategy, it focuses on quick, high-frequency trades, making it ideal for those who prefer to make profits from small price fluctuations. This strategy combines the Scalper Signal, which provides clear buy and sell signals, with the Awesome Oscillator (AO) Divergence, a technical indicator that helps identify potential trend reversals. By using these two tools in tandem, traders can improve their accuracy in predicting market shifts and enhance their scalping performance. The Awesome Oscillator (AO)…
By Nidal al-Mughrabi CAIRO (Reuters) -Israeli troops killed at least 22 Palestinians, most of them in the northern Gaza Strip, on Sunday in airstrikes and other attacks on targets that included a school sheltering displaced Gazans, medics and residents said. They said at least 11 of the dead were killed in three separate Israeli airstrikes on Gaza City houses, nine were killed in the towns of Beit Lahiya, Beit Hanoun and Jabalia camp and two were killed by drone fire in Rafah. Residents said clusters of houses were bombed and some set ablaze in the three towns. The Israeli army…
maybefalse Alibaba Group Holding Limited (NYSE:BABA) was named as one of Barron’s top stocks for investors to buy into 2025, despite the lingering concerns over China’s macroeconomic issues and the threat that the incoming Trump administration could trigger a damaging Source link
This week our currency strategists focused on the Reserve Bank of Australia and Bank of Canada Monetary Policy Statements for potential high-quality setups. Out of the eight scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions to see what happened! Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d…
UPCOMING EVENTS:Monday: China Retail Sales and Industrial Production, Japan/Eurozone/UK/US Flash PMIs.Tuesday: UK Employment report, Canada CPI, US Retail Sales, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Wednesday: UK CPI, US Housing Starts and Building Permits, FOMC Policy Decision, New Zealand Q3 GDP.Thursday: BoJ Policy Decision, BoE Policy Decision, US Final Q3 GDP, US Jobless Claims.Friday: Japan CPI, PBoC LPR, UK Retail Sales, Canada Retail Sales, US Core PCE.MondayMonday will be the Flash PMIs Day with a particular focus on the Eurozone, UK and US PMIs as they could influence the market’s expectations around interest rates. Eurozone…