Author: FX

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By Doyinsola Oladipo and David Shepardson NEW YORK/WASHINGTON (Reuters) -U.S. dock workers and port operators reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast, the two sides said Thursday. The tentative agreement is for a wage hike of around 62% over six years, two sources familiar with the matter told Reuters, including a worker on the picket line who heard the announcement. That would raise average wages to about $63 an hour from $39 an hour over the life of the contract. The International…

Looking for setups to trade during the U.S. NFP report release? We gotchu! In case you missed it, EUR/USD is chillin’ like a villain near a technical support level ahead of Uncle Sam’s employment updates. EUR/USD 4-hour Forex Chart by TradingView The euro is NOT having a great month so far, as rising calls for another European Central Bank (ECB) rate cut in October and increased tensions in the Middle East are limiting the demand for the common currency. The U.S. dollar, on the other hand, is gaining some pips back from its counterparts as safe haven demand and easing…

Caution ahead of Friday’s U.S. NFP release may have kept overall volatility in check, but asset-specific catalysts still brought some action to the major markets. So, which headlines stole the spotlight on Thursday? Let’s break it down below: Headlines: BOJ member Asahi Noguchi favors adjusting monetary policies “at a slow pace” and pausing to assess the impact of the first rate hike before raising rates again Switzerland’s inflation fell by 0.3% m/m in September (-0.1% expected, 0.0% previous) over cheaper petrol, accommodation, and holidays. Annually, prices rose by 0.8%, the slowest increase since July 2021 HCOB Germany final services PMI…

When the markets are hotly debating the Fed’s next policy moves, U.S. labor market updates – which Fed members said they’re looking closely at – will likely cause increased volatility among major U.S. dollar pairs. On Thursday, a report from Challenger, Gray, & Christmas reflected 72,821 planned job cuts in September, slightly lower than the 75,891 cuts planned in August. The report noted that “it will take a few months for the drop in interest rates to impact employer costs,” but that it will also increase consumer spending which may lead to more demand for workers in consumer-facing sectors. This…

The Channel Signal and Aroon Forex trading strategy offers traders a powerful combination of technical indicators to navigate the complexities of the foreign exchange market. This strategy integrates two distinct yet complementary tools: the Channel Signal indicator, which identifies key support and resistance levels, and the Aroon indicator, which gauges the strength and direction of trends. The Channel Signal indicator serves as a visual guide, marking out price channels where currency pairs often fluctuate. By identifying these channels, traders can anticipate potential breakout points or areas where prices may reverse. Meanwhile, the Aroon indicator provides critical…

The SSL and Silver Trend Signal Forex Trading Strategy stands out as a remarkably effective approach for traders seeking clarity and precision in their market analysis. By combining the SSL (Smoothed Signal Line) with the Silver Trend Signal, this strategy offers a powerful toolkit for identifying and capitalizing on market trends. The strength of this strategy lies in its ability to filter out noise and provide clear, actionable signals, which can significantly enhance trading decisions and outcomes. The SSL indicator plays a crucial role in this strategy by smoothing out the typical market volatility. This filtering…

Ever felt frustrated by those choppy RSI signals on your MT5 platform, leading to false trade entries and exits? Well, fret no more! The Corrected RSX indicator might be the answer you’ve been searching for. In this comprehensive guide, we’ll delve into the world of the Corrected RSX, a technical analysis tool designed to smooth out the wrinkles of the traditional Relative Strength Index (RSI) on the MetaTrader 5 platform. We’ll explore its inner workings, uncover its advantages and potential drawbacks, and equip you with the knowledge to implement and utilize it effectively in your trading strategies. Why Use a…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

EUR/USD struggles to gain ground around 1.1035 in Friday’s early Asian session.  The US Services PMI came in better than expected in September.  The cautious mood and rising bets of another ECB rate cut weigh on the Euro. The EUR/USD pair remains on the defensive near 1.1035 amid the stronger Greenback during the early Asian session on Friday. The cautious mood in the markets ahead of the key US economic data weighs on the major pair. All eyes will be on the release of US employment data, which is due later on Friday.The upbeat US Services Purchasing Managers Index (PMI)…