Author: FX

I’m seeing a textbook break and retest situation forming on the daily time frame of NZD/CHF! Will this area of interest hold as a ceiling this time? Take a look at this long-term potential support-turned-resistance zone I’m watching: NZD/CHF Daily Forex Chart by TradingView Missed that bearish breakdown and selloff on NZD/CHF recently? The pair could be gearing up for another major wave lower, as it pulls up for a retest of the former support zone around the .5200-.5300 psychological levels. The Fibonacci retracement tool even shows that this area of interest is right around the 50% level while the…

By Promit Mukherjee OTTAWA (Reuters) – Canadian National Railway (TSX:), one of Canada’s two main rail companies, formally notified the Teamsters union in Canada on Sunday that it would start locking out union workers early on Thursday. “Unless there is an immediate and definite resolution to the labour conflict, CN will have no choice but to continue the phased and progressive shutdown of its network which would culminate in a lockout,” it said in a statement. “Despite negotiations over the weekend, no meaningful progress has occurred, and the parties remain very far apart.” Canada’s other main rail operator, Canadian Pacific…

The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.1595more to come This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The 100 Pips and Slope Direction Line Forex Trading Strategy offers a clear path for traders aiming to capitalize on significant price movements. This strategy centers around achieving a target of 100 pips per trade, focusing on capturing substantial gains from small price fluctuations in currency pairs. Key to its effectiveness is the Slope Direction Line indicator, which provides straightforward signals on market trends. By aligning trades with the direction indicated by the Slope Direction Line, traders can confidently enter and exit positions at optimal times. The concept of targeting 100 pips per trade emphasizes a strategic approach to forex…

The Knoxville Divergence, the brainchild of trader Rob Booker, is a custom indicator built for the ever-popular MetaTrader 4 (MT4) platform. At its core, it’s a divergence indicator, a concept widely used in technical analysis. But the Knoxville Divergence takes a unique spin, combining the power of two established tools: the Momentum Oscillator and the Relative Strength Index (RSI). Brief History of the Indicator The exact origin story of the Knoxville Divergence is a little fuzzy. Unlike some indicators with well-documented lineages, the Knoxville Divergence seems to have emerged organically within the trading community, possibly around the mid-2010s. Rob Booker…

Gold price drifts higher to $2,505 in Monday’s early Asian session.  The recent US Housing Starts added to concerns over the economy’s strength and triggered the expectation of Fed rate cuts.  Escalating geopolitical tensions boosts the safe-haven asset like Gold.  Gold price (XAU/USD) gains momentum around $2,505 during the early Asian session on Monday amid hopes of the US Federal Reserve (Fed) rate cuts in September. Gold traders will take more cues from the first reading of the US S&P Global Purchasing Managers Index (PMI) and Fed Chair Jerome Powell’s speech this week. The precious metal rose to an all-time high…

By Kanishka Singh (Reuters) – A carnival float featuring a Hindu temple that is planned for an upcoming India Day Parade in New York City has sparked controversy, with a number of groups calling it anti-Muslim and saying it should be removed from the event. The float depicts a temple to the Hindu god Lord Ram, which was consecrated earlier this year on a site in Ayodhya, India, believed to be his birthplace. But the temple site has long been bitterly contested between Hindus and Muslims, and in the early 1990s a mosque that stood there was razed by 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…

By Humeyra Pamuk TEL AVIV (Reuters) -U.S. Secretary of State Antony Blinken arrived in Tel Aviv on Sunday on a Middle East tour aimed at intensifying diplomatic pressure to achieve a ceasefire deal in Gaza this week to end the bloodshed between Israel and Palestinian militant group Hamas. On his 10th trip to the region since the war began in October, Blinken will meet on Monday with senior Israeli leaders including Prime Minister Benjamin Netanyahu, a senior State Department official said. After Israel, Blinken will continue onto Egypt. The talks to strike a deal for a truce and return of…

This week our currency strategists were focusing on another round of employment situation updates, this time from Australia and the U.K, as potential drivers for short-term opportunities. Out of the four scenario/price outlook discussions this week, only one discussion arguably saw both fundie & technical arguments triggered to become a potential candidate for a trade & risk management overlay.  Check out our review on that discussion 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…