Author: FX

Share: EUR/USD advances to new multi-week highs around 1.0790. There is a tough barrier at the 1.0800 zone so far. EUR/USD resumes the upside bias following Friday’s marked pullback and approaches the 1.0800 region. A more serious bullish attempt is expected to quickly surpass the so far monthly high at 1.0790 (June 12), which is closely followed by the round level at 1.0800. The latter, in turn, appears propped up by the temporary 100-day SMA at 1.0805. Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0522. EUR/USD daily chart…

You can be highly motivated to trade, have abundant capital, and a dummy-proof trading system, but you can still encounter losses if you fail to concentrate. Even had a hard time working in a crowded Starbucks or studying in a noisy library? It’s easy to concentrate when we are in a quiet room or when we feel calm and at ease, but the markets are often chaotic and trading can get stressful. When you aren’t fully focused on your open positions and trading strategies, self-doubt can creep into your consciousness. You may start having second thoughts that can wind up sabotaging…

Sjo/iStock Unreleased via Getty Images Reactions are still pouring in on the implications of Tesla (TSLA) opening up the Supercharger network to General Motors (GM) and Ford (F). Wells Fargo analyst Colin Langan said the deal will enable Tesla (TSLA) to better utilize its charging network with about 4M GM and Ford electric vehicles forecast to be on the road by 2027, but warned the economic benefit may not be as great as some investors anticipate. Langan and team estimate that the annual charging revenue opportunity is only about $150 per car. “If 70% of charging is within the TSLA…

EUR/USD PRICE FORECAST: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: Euro Forecast: EUR/USD on Thin Ice Before Fed Decision, ECB Unlikely to Tip ScalesEUR/USD has had a mixed start to what is setting up to be a blockbuster week for markets in general. The Euro lost ground in the Asian session before a rebound ahead of the European open and continued strength since leaves the pair trading at 1.0775 at the time of writing.Currency Strength Chart: Strongest – AUD, Weakest – JPY.Source: FinancialJuiceWEEK…

Eurostoxx +0.5%Germany DAX +0.6%France CAC 40 +0.6%UK FTSE +0.3%Spain IBEX +0.5%This follows from the marginal gains by Wall Street at the end of last week, and also a slightly more optimistic start this week – at least for tech stocks. S&P 500 futures are up 0.2% while Nasdaq futures are up 0.4% currently. Dow futures are only up 0.1% so at least it’s not all bad for value stocks, which is the heavier composition among European indices. Source link

Share: USD/JPY is consolidating above 139.00 as Fed/BoJ policy comes into the picture. Market sentiment is quite positive as the odds of a neutral policy stance by the Fed are extremely solid. The interest rate policy by the BoJ is expected to remain unaltered as more monetary stimulus is required to keep inflation steadily above 2%. The USD/JPY pair is oscillating in a narrow range around 139.50 in the late Asian session. The asset is expected to remain on tenterhooks as investors have shifted their focus toward the United States Consumer Price Index (CPI) data, which will release…

USD/JPY is consolidating juuust under its 2023 highs ahead of this week’s FOMC event! Will we see a breakout in the next few days? Let’s take a look at the 4-hour time frame: USD/JPY 4-hour Forex Chart by TV As you can see, USD/JPY is having trouble making new highs after hitting (and getting rejected at) the 141.00 psychological handle. Interestingly, the consolidation is forming what looks like an ascending triangle pattern on the 4-hour time frame. But wait, there’s more! The 100 SMA is also hanging around USD/JPY’s current prices, and both the 100 and 200 SMAs are still…

We’re in for a busy week as we try to price in the Fed, ECB, and BOJ’s monetary policy decisions. Meanwhile, data releases from China could affect intraweek trends for AUD, NZD, and even JPY. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the economic calendar this week: U.S. inflation reports Before the Fed publishes its June policy decision, its members will have a look at Uncle Sam’s inflation numbers on June 13 (Tuesday) at 12:30 pm GMT.…

© Reuters. FILE PHOTO: A man walks past an electric monitor displaying Japan’s Nikkei share average and recent movements, outside a bank in Tokyo, Japan, June 5, 2023. REUTERS/Issei Kato By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf. Asian markets will turn their attention to a series of central bank meetings after ending last week on a buoyant note. MSCI’s gauge of world stock markets on Friday hit its highest point in 13 months. Wall Street was upbeat as the notched its fourth straight weekly gain and a 20% rise from…

I had this earlier from Bank of America on their Federal Open Market Committee (FOMC) outlook:With high inflation sticky, BoA argue the risk is for further Fed rate hikes:”We remain bearish; still think biggest ‘pain trade’ next 12 months Fed funds 6% not 3%,”BoA add that investors have become too bullish and characterize January – March asand April to June asSay on narrow breadth, S&P breaking out bull market bubbly (though ex-Magnificent 7 up more sober 1% YTD)And, the”Fed ain’t done with hikes… we stick with ‘sell the last rate hike’ call,” Source link