Author: FX

GBP/USD remains under pressure, testing significant support levels after crossing below the 200-day SMA. Further downside may see the pair target 1.2600 and potentially extend to May’s low of 1.2445. Recovery above 1.2700 could challenge resistance at 1.2817, with RSI indicating potential consolidation ahead. The Pound Sterling extends its agony and printing losses for the sixth straight day against the Greenback. Soft UK GDP coupled with robust US Retail Sales figures boosted the US Dollar and weighed on GBP/USD, which trades at 1.2636, down 0.22%. GBP/USD Price Forecast: Technical outlook The GBP/USD is bearish-biased once it falls below the 200-day…

By Eduardo Baptista LIMA (Reuters) – With Donald Trump’s imminent return to the U.S. presidency looming over the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Chinese President Xi Jinping said on Friday that unilateralism and protectionism needed to be rejected in favour of economic globalization. Xi’s critique of protectionism at APEC offers a preview of how China will seek to position itself once Trump takes office in January. Trump has pledged to impose tariffs on Chinese imports in excess of 60% but Beijing and Chinese companies are hoping that his protectionist policies will also irk U.S. allies in Europe and…

Federal Reserve (Fed) Bank of Boston President Susan Collins hit the wires on Friday, downplaying pressures for continued rate cuts in the near term, but also keeping a steady hand underneath market expectations of a rate trim in December. Key highlights There’s no preset path for monetary policy. The economy is in a very good place right now. I won’t take a December easing off the table. I am not seeing evidence of new inflation pressures. The job market looks like full employment conditions. I don’t see a big urgency to lower rates, but I want to preserve a healthy…

The Greenback overturns intraday losses and is set to flip in the green.  Fed Chairman Jerome Powell surprised markets by casting doubts over December’s interest-rate cut.  The US Dollar index surges back to the fresh one-year high from Thursday.  The US Dollar (USD) sees earlier declines soften a bit on Friday with US Retail Sales seeing strong upward revisions ahead of the important US shopping season with Thanksgiving, Black Friday and Christmas as main events for consumers and the Retail sector. The impact of the number is not to be underestimated with the US Dollar Index (DXY) erasing over 0.50%…

Prior was -0.4% (revised to -0.5%)Capacity utilization 77.1% 77.2% expectedPrior utilization 77.4%There are two poor readings in a row but today’s Empire Fed was very strong and that may highlight a return to growth in the months ahead. This article was written by Adam Button at www.forexlive.com. Source link

Scaling into losing positions helps traders “average down” their buying price before the asset eventually goes their trades’ way. But scaling is not for everyone. After all, you’ll never be sure that the asset will eventually trade your way. Will you still be able to make good trading decisions if price continues to trade against you? Fortunately, there’s a way to know when you should consider scaling into a losing position: Just ask yourself, “Self! Is this part of my plan?” If your answer is “Heck yeah, I knew price could hit these levels! I’m scalin’, not bailin’!” then scale…

EUR/USD bounces after test of 1.0500 on Thursday, the lowest level in over a year.  Euro recovers on Friday against the US Dollar due to profit-taking after a five-day losing streak. Markets turn nervous on the Fed putting the December rate cut in doubt, while the ECB is expected to continue easing, pointing to more downside for the EUR/USD.  EUR/USD recovers on Friday after a brief test of the 1.0500 level the prior day, erasing Thursday’s incurred losses. The pair has eased nearly 1.5% so far this week as markets have priced in more Trump trade effects. That move is now facing…

By Ahmed Aboulenein and Michael Erman WASHINGTON/NEW YORK (Reuters) – Robert F. Kennedy Jr. vowed to purge the U.S. Food and Drug Administration shortly before being chosen as President-elect Donald Trump’s nominee for health secretary. Any changes he wants to make will come up against a pharmaceutical industry that pays much of the regulator’s bills. Kennedy, an environmental activist who has helped sow doubts about the safety and efficacy of vaccines, would have authority over the nation’s agencies responsible for public health, government-funded health insurance plans for more than 140 million including the poor, those 65 and older, and the…

Eurostoxx -0.6%Germany DAX -0.5%France CAC 40 -0.8%UK FTSE -0.4%Spain IBEX -0.3%Italy FTSE MIB -0.5%This takes away from the gains yesterday with European indices still poised to end the week lower. The drag here comes with a more negative mood in Wall Street overnight and S&P 500 futures are also seen down 0.6% currently. The post-election euphoria looks to be settling down now, with the dollar also slightly lower to start the day. This article was written by Justin Low at www.forexlive.com. Source link

Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straight forward 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 EUR/JPY pair within the H4 timeframe. I’ve shared a trade setup image for…