Author: FX
Crude oil has been on a tear these days, but can it sustain its climb past this major resistance zone? And if so, just how high can it go? Check out this long-term chart pattern on my radar! WTI Crude Oil (USOIL) Daily Chart by TradingView Crude oil has formed lower highs and higher lows since July last year, creating a symmetrical triangle visible on its daily chart. Price staged a strong bounce off the triangle bottom and seems to be halfway through on its climb to the top, encountering some resistance at the pivot point level ($79.22 per barrel)…
In its July decision, RBNZ members cited cooling inflation as a reason for keeping interest rates at 5.50%. Do the central bankers still feel the same way this month? Here are the points you need to know if you’re planning on trading the event: 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
Investing.com– Hedge funds sold Japanese stocks at their fastest pace in over five years during a market rout last week, Goldman Sachs said in a recent note, with macro products making a bulk of the selling. The selling came as Japan’s and indexes slid over 12% last Monday and fell squarely into a bear market, amid concerns over rising Japanese interest rates and a potential U.S. inflation. Strength in the also pressured export-oriented Japanese stocks. Hedge funds sold industrials, financials and healthcare sectors, GS said, while buying into real estate, technology, and consumer discretionaries. But while Japanese stocks logged steep…
Market price action was mixed at the start of the week, as some traders stood on the sidelines ahead of this week’s data releases while others priced in the increased tensions in the Middle East. Which of your closely watched assets saw increased volatility and directional price action? We’re breaking them down today: Headlines: RBA Deputy Gov. Andrew Hauser supported a more flexible approach to policymaking, where decisions are based on different scenarios than rigid forecasts Germany wholesale price index rose by 0.3% m/m in July after a 0.3% decline in June (0.2% expected) Canada building permits fell by another…
Torsten Slok, chief economist at Apollo pushed back against the narrative that the US economy is slowing.“.. there are still no signs of a US recession, and the US economy is doing just fine with steady growth in .. restaurant bookings, air travel, hotel bookings, credit card data,” he wrote. “In short, Fed pricing is wrong, and the market is making the same mistake it made at the beginning of the year.”Here are three of the charts he highlighted: Source link
The Quantum Alert MT4 Indicator is a technical analysis tool designed to generate buy and sell signals directly on your MT4 charts. By analyzing price movements and other market data, the indicator aims to identify potential trading opportunities and alert traders of potential entry and exit points. While the specific workings of the indicator might be proprietary, it’s generally understood to leverage a combination of technical indicators and mathematical algorithms to generate its signals. Understanding the Mechanics of the Quantum Alert The inner workings of the Quantum Alert may not be entirely transparent, but grasping the general concepts behind its…
The Follow Trend and Kolier SuperTrend forex trading strategy has garnered attention among traders for its effectiveness in navigating the complexities of the forex market. At its core, this strategy revolves around utilizing the Kolier SuperTrend indicator to identify and capitalize on prevailing market trends. Unlike static indicators, the SuperTrend adapts to market conditions in real time, providing traders with dynamic signals that pinpoint potential entry and exit points. This flexibility is crucial in the forex market, where trends can shift rapidly, allowing traders to make informed decisions aligned with the direction of the market. Successful implementation of this strategy…
The New Zealand Dollar holds positive ground in Tuesday’s early Asian session. Reduced bets for a RBNZ rate cut and signs of stronger demand from China supported the Kiwi. Rising Middle East geopolitical risks might limit the pair’s downside. The US Producer Price Index (PPI) will be in the spotlight on Tuesday before the RBNZ rate decision. The New Zealand Dollar (NZD) trades on a stronger note on Tuesday amid the modest decline of the Greenback. The stronger-than-expected New Zealand employment report last week diminished the possibility of the Reserve Bank of New Zealand (RBNZ) rate cut on Wednesday, which…
Michael M. Santiago/Getty Images News This week’s U.S. consumer price inflation report due for July represents another big hurdle for the market, which is still fresh from a sharp drop spurred by recession worries, and a disappointing report will fuel further losses, according to Bank of America Global Research. The Labor Department’s Consumer Price Index report is due Wednesday. Wall Street’s major stock benchmarks (SP500)(COMP:IND) have been throttled down since the July U.S. jobs report stoked recession fears. Bank of America expects headline and core CPI inflation to rise by 0.25% m/m and 0.22% m/m, respectively, or 3.0% Y/Y and…
The EURUSD and the GBPUSD both bounced off key hourly moving averages on the US session dip.The EURUSD bounced off its 100-hour MA at 1.0920. The 38.2% retracement of the move-up from the August low is also near that level. Staying above is more bullish going forward.The GBPSD and soffits 200-hour moving average at 1.2753. Staying above is more bullishThe price action today has been up-and-down in each of these currency pairs. There is no trend. However, the dip against the level, gives the buyers control in the short term. What is uncertain is if the momentum can continue. However,…