Author: FX

The Japanese Yen struggles to lure buyers amid uncertainty over future BoJ rate hikes. Hopes for a possible Hezbollah-Israel ceasefire further undermine the safe-haven JPY. Intervention fears cap USD/JPY amid subdued USD demand, ahead of FOMC minutes. The Japanese Yen (JPY) attracted some intraday sellers on Tuesday in reaction to data, which showed that Japan’s real wages fell in August after two months of gains. Furthermore, household spending also declined during the reported month, raising doubts about the strength of private consumption and a sustained economic recovery. This comes on top of blunt comments on monetary policy by Japan’s new…

Have you ever felt overwhelmed by the sheer number of moving average indicators available on the MetaTrader 5 (MT5) platform? While traditional moving averages offer valuable insights into price trends, wading through a sea of lines can be confusing, making it difficult to identify clear trading opportunities. Here’s where the Averages Rainbow MT5 Indicator steps in, offering a unique and visually appealing solution for active traders. This comprehensive guide delves into the world of the Averages Rainbow, exploring its construction, interpreting its signals, and crafting effective trading strategies. So, buckle up and get ready to unlock the secrets of this…

Federal Reserve Vice Chair Philip Jefferson Q&A now:Fed has not changed its approach to monetary policyFed is always thinking about the balance of risksOur goal has been to bring inflation down without causing undue or a disorderly increase in the unemployment rate Performance of labour market gave us headroom to keep policy restrictive for a long periodSize of September rate cut was timelyFed’s rate cut was neither proactive or reactiveAgain, Jefferson not really guiding on what is ahead for the Fed, apart from generic comments. Earlier:Fed Vice-chair Jefferson says will watch incoming data, making decision meeting by meeting This article…

Gold drops to a daily low of $2,604 amid truce hopes between Israel and its neighbors. Safe-haven demand weakens as Hezbollah supports ceasefire efforts, while rising US Treasury yields further weigh on Bullion. Traders adjust Fed rate cut expectations with focus shifting to upcoming US inflation data, jobless claims and consumer sentiment. Gold prices slumped sharply on Tuesday following a strong US jobs report and newswires revealing that Hezbollah supported calls for a truce in the conflict between them and Israel. Hence, hints of a possible de-escalation of the Middle East conflict opened the door for traders to book profits.…

In recent market activity, former 10% owner of Algorhythm Holdings, Inc. (NASDAQ:RIME), Milton C. Ault III, has sold a significant portion of his holdings in the company. The transactions, which occurred on two separate dates, resulted in a total sale value of over $289,000. On October 4, Ault sold 46,900 shares of Algorhythm Holdings at a volume weighted average price of $0.4728 per share, with individual sale prices ranging from $0.45 to $0.49. This sale amounted to approximately $22,175. Following this transaction, Ault’s directly associated entity, Ault Lending, LLC, still held 1,310,000 shares. A subsequent sale on October 7 saw…

Axios citing sources says: Advanced talks are underway to hold a phone call between US present Biden and Israel’s PM Netanyahu.Is it theatre to make it appear diplomatic efforts have been made before the attack? Will it even take place? This article was written by Greg Michalowski at www.forexlive.com. Source link

EUR/GBP declined 0.10% on Tuesday and remains in a range, but bullish bias intact. RSI, flat MACD support a balanced outlook. EUR/GBP should hold above 0.8380 to confirm bullish bias. The EUR/GBP pair remains confined within a recent range and declined by 0.10% on Tuesday to 0.8380. However, the larger time frame bias remains bullish, as suggested by the technical indicators and the pair continues to side-ways trade after last week’s rally. The Relative Strength Index (RSI) is near 50 and declining. This suggests that selling pressure is rising. The Moving Average Convergence Divergence (MACD) is flat in positive territory,…

Prior month $-78.8 billion revised to $-78.9 billiontrade balance $-70.4 billion versus $-70.6 billion estimate.good trade balance -$94.22 pain dollars versus $-102.8 billion last monthservices surplus $24.4 billion versus $24.3 billion last monthDetails:exports +2% versus July’s +0.5%imports -0.9% versus July +2.1%exports $271.76 billion versus $266.48 billion last monthimports $342.1 billion versus $345.4 billion last monthcapital goods imports $83.13 billion versus $83.46 billion last monthChina trade deficit $-27.88 billion versus $-30.12 billion last monthYear-to-date, the goods and services deficit increased $47.1 billion, or 8.9 percent, from the same period in 2023. Exports increased $79.0 billion or 3.9 percent. Imports increased $126.1…

The USD continues to drift as it consolidates last week’s advance, Scotiabank’s Chief FX Strategist Shaun Osborne notes.   USD continues to consolidate “Gains for the JPY and EUR on the session are pressuring the DXY somewhat but the drop in the dollar index still looks more like a pause ahead of renewed gains rather than a reversal. High beta FX is mostly underperforming amid some lumpy moves in Asian stocks and a sharp drop in crude oil (down 2%). The AUD is the main underperformer on the session as markets ponder the outlook for the Chinese economy.” “Chinese markets…

Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 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 3/12 Tunnel strategy has identified a trading opportunity on the AUD/CHF pair within the H1 timeframe. I’ve shared a trade setup image for your reference. The details of…