Author: FX

The S&P 500 (SP500) on Friday advanced 0.77% for the week to close at 4,594.63 points, posting gains in three out of five sessions. Its accompanying SPDR S&P 500 Trust ETF (NYSEARCA:SPY) added 0.83% for the week. During this week, Thursday marked the end of November, a month that turned out to be historic for markets. The benchmark S&P (SP500), along with the Nasdaq Composite (COMP.IND) and the Dow (DJI), notched their best monthly advance this year and one of their best Novembers on record. That climb has been largely driven by favorable economic data and comments from Federal Reserve…

NZD took the top spot as the RBNZ rate statement gave FX traders more reasons to be bullish, while EUR struck out hard on weakening data from the eurozone. Source link

In the fast-paced world of Forex trading, having a competitive edge is paramount. Traders are constantly on the lookout for tools and indicators that can help them make informed decisions and maximize their profits. One such tool that has been making waves in the Forex community is the FX Sniper MT5 Indicator. In this article, we’ll delve into what this indicator is all about, how it works, and why it’s gaining popularity among both novice and seasoned traders. Understanding the FX Sniper MT5 Indicator What is the FX Sniper MT5 Indicator? The FX Sniper MT5 Indicator is a powerful technical…

It was another rough one for Dollar bulls as traders continue to price in future Fed rate cuts, benefiting most of the other major assets in the process.  Source link

Markets:S&P 500 up 27 points, or 0.6%, to 4603Gold up $35 to $2071WTI crude oil down $1.70 to $74.26US 10-year yields down 13.3 bps to 4.56%AUD leads, EUR lagsWelcome to the new month, same as the old month.The mood was to buy everything and sell oil, same as it was for all of November. It started out as a quiet one and a good Canadian jobs report moved the loonie into the poll position with it only up 30 pips on the day. From there though, a softer US ISM manufacturing report helped to kick off a wave of USD…

Share: The DXY Index is seen with losses around 103.15, after reaching a high of 103.70, above the 200-day SMA. Fed Chair Powell warned that the bank will hike again if needed, keeping its data-dependency approach. The US ISM Manufacturing PMI declined in November, as expected. Next week, the US will release November’s Nonfarm Payrolls report. The US Dollar (USD) Index has shown a modest decline, trading at 103.15, despite Federal Reserve Chair Jerome Powell’s hawkish stance. The November ISM Manufacturing PMI came in lower than expected but didn’t trigger any significant downward movements in the Greenback. What…

Share: EUR/GBP was seen at 0.856 with a downside movement of 0.70%, it lowest since early September. In the daily and 4-hour chart, indicators hit oversold conditions after a seven-day losing streak. The cross will also close a 1.40% weekly loss. In Friday’s session, the EUR/GBP pair was seen at 0.8560 after a downward rally of 0.70%. On the daily and four-hour chart, the cross reached oversold conditions suggesting that an upwards correction may be on the horizon, but the overall trend currently favours the sellers. The technical indicators on the daily chart are exhibiting robust bearish momentum.…

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…

Share: The EUR/CHF is down in a three-day bear binge. Euro chart action is decidedly one-sided as the EUR falls back across the board on the week. Next week sees Eurozone PPI, GDP growth. The EUR/CHF is down eight-tenths of a percent heading into the Friday closing bell as the Euro (EUR) declines for a third consecutive trading day against the Swiss Franc (CHF). The EUR/CHF is down 2% on the week, tumbling into 0.9450. The Euro is seeing accelerating losses as markets lose faith in the Eurozone’s economy, with inflation slumping faster than markets were anticipating and…

Share: TSLA stock sinks three days in a row despite Cybertruck unveiling. Analysts conclude that Cybertruck will find it difficult to turn a profit. TSLA stock is the midst of forming a bearish Three Black Crows pattern on the daily chart. Fed Chair Powell gave a hawkish speech at Spelman College, saying interest rate cuts were not yet on agenda.   Tesla (TSLA) stock closed down 0.55% to $238.75 on Friday. This was the third day in a row on Friday that TSLA stock sold off, enacting what seems like a bearish Three Black Crows candlestick pattern, although Friday did…