Author: FX
The world of forex trading thrives on navigating trends. Whether you’re a seasoned veteran or a curious newcomer, identifying these directional currents is paramount to making informed decisions. That’s where technical analysis steps in, offering a treasure trove of indicators to illuminate market behavior. Today, we delve into the ASC Trend MT4 Indicator, a tool designed to equip traders with valuable insights into potential trends. While the exact origin of the ASC Trend remains shrouded in some mystery, it’s believed to have emerged from the AbleSys trading platform before migrating to the widely popular MT4. This indicator leverages the power…
Donchian Channels Indicator The Donchian Channels, developed by Richard Donchian, are a technical indicator used primarily to identify the highs and lows of price movements over a specified period. This indicator consists of three lines: the upper band (highest high over the chosen period), the lower band (lowest low over the chosen period), and the middle band (typically the average of the upper and lower bands). Traders use these bands to gauge the market’s volatility and potential breakout points. One of the key strengths of the Donchian Channels is their simplicity and clarity in illustrating price action. The upper and…
Preliminary Judo Bank S&P Australian Manufacturing PMI 48.7prior 47.5Services 52.2prior 50.4Composite 51.4prior 49.9The Australian Flash PMI shows improved activity, rising costs in AugustComposite output index up, services sector jumps, manufacturing still weakEconomy expanding in Q3, labour demand risingService sector input prices hit highest level since March 2023Final prices index dipped, suggesting difficulty in passing on costsInflation risks persist despite weak economic growthNew fiscal stimulus and less restrictive monetary policy raise concernsRBA may need to hike further before easing cycle can beginThe bottom line comment, IMO, from the analysis in the report is this:Market pricing for RBA rate cuts “perplexing” given…
Gold prices remained broadly unchanged in Philippines on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 4,550.75 Philippine Pesos (PHP) per gram, broadly stable compared with the PHP 4,552.34 it cost on Tuesday. The price for Gold was broadly steady at PHP 53,079.04 per tola from PHP 53,097.62 per tola a day earlier. Unit measure Gold Price in PHP 1 Gram 4,550.75 10 Grams 45,507.49 Tola 53,079.04 Troy Ounce 141,544.20 FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the…
Sundry Photography/iStock Editorial via Getty Images Snowflake (NYSE:SNOW) fell nearly 7% during early post-market trading on Wednesday, despite revealing second quarter fiscal 2025 results that surpassed estimates and increasing its full-year guidance. For the quarter ended July 31, Snowflake reported adjusted earnings per share of $0.18, which was more than the consensus estimate of $0.16. It reported revenue of $868.8M versus the estimate of $850.15M. However, second quarter billings of $779M fell short of the consensus estimate of $831.9M. “Product revenue was up 30% year-over-year at $829M, while remaining performance obligations were $5.2B, up 48% year-over-year,” said Snowflake CEO Sridhar…
We’re about to see some of the first business activity indicators in the U.S. for August! What are traders expecting and how can the U.S. PMI releases affect the dollar’s price action? 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
Gold diggers—both literal and figurative—must be in high spirits right now! 😂 Gold continues to make new all-time highs and has surged past the $2,500 mark, driven by a weaker U.S. dollar and expectations of a Federal Reserve interest rate cut in September. Due to its reputation as a stable investment during turbulent times, geopolitical instability and economic concerns have also driven gold demand. Analysts predict that gold could reach $2,600 by the end of 2024 and possibly $3,000 by mid-2025.🤔 As gold reaches new heights, the market sentiment for it remains bullish. However, is the rally too good to…
Heads up! The U.K. is releasing its August Flash PMIs tomorrow! What are the markets expecting and how could the releases affect British pound sentiment this week? We have the points you need if you’re trading the releases! 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’re getting the point where we need to really zoom out to paint a picture of the foreign exchange market. A great example is in cable, where the daily chart illustrates that we’re only 60 pips away from the July 2023 high.GBPUSD dailyIf that breaks, then the weekly chart highlights minimal resistance up to the 1.36 zone.GBPUSD weeklyThe pound initially fell after the July 24 election but it’s since recouped all those losses and more. Kier Starmer’s government is off to an uneven start but will offer stability over the next 4-5 years at a time when the US outlook…
Mexican Peso weakens after INEGI reports sharp declines in June Retail Sales with inflation concerns looming. US Dollar strengthens following downward revision of Nonfarm Payrolls by 800K. Fitch warns of rising debt risks for Mexico’s next administration with potential impacts on sovereign rating amid judicial reform controversy. The Mexican Peso depreciated over 1.20% against the US Dollar in early trading on Wednesday as traders digested Mexico’s dismal Retail Sales report and awaited the release of a revision of US employment figures. The USD/MXN trades at 19.21 after bouncing off a daily low of 18.92. Wall Street traded in the green,…