Author: FX
A common mistake that traders make is trying to take on too many positions at once. They believe that a higher number of positions will translate into higher profit. “If I open positions in multiple pairs, one of them will win big.” Too bad this type of thinking usually leads them to lose big instead. Sure, it’s tempting to jump on ALL the bandwagon and hit all the meme stocks when your friends, trading heroes, and online trading groups talk about the same 15 assets. But if you want to maximize your opportunities and skills, you might want to think…
EUR/USD Forecast – Prices, Charts, and AnalysisEUR/USD slides back towards 1.1100.Fed blackout period ahead of next week’s FOMC meeting. Recommended by Nick Cawley Download our Brand New Q3 Euro Guide The US dollar has perked up this week and currently trades around 150 pips higher than this week’s 99.50 low print. Recent US economic data has been marginally better than expected, while the US dollar index has been boosted by a bout of weakness in a range of basket currencies. With no Federal Reserve speakers scheduled until after next Wednesday’s FOMC policy decision, the US dollar may consolidate this week’s…
Share: EUR/USD slips off earlier high to retest support in low 1.11s. Economists at Scotiabank analyze the pair’s outlook. Underlying trend signals remain bullish on the daily and weekly oscillators The EUR’s short-term technical undertone remains soft after losses picked up yesterday but Thursday’s low is holding the base of the range, at least for now, and underlying trend signals remain bullish on the daily and weekly oscillators. Scope for EUR losses to extend much more should be limited. We spot retracement support (38.2% of the July rally) at 1.1110. Resistance (minor bull trigger) is 1.1155. Source…
AUD remains on the backfoot against the USD as markets prepare for the FOMC announcement next week, while technical analysis suggests further downside to come. Source link
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, S&P 500 Analysis and ChartsFTSE 100 approaches key resistanceThe FTSE 100’s rally, triggered by weaker-than-expected UK inflation, is being boosted by June retail sales which came in at 0.7% versus an expected 0.2% and a downwardly revised 0.1% in May. The UK blue-chip index, which has so far risen by over 5% from its July low, is fast approaching its 7,679 to 7,688 resistance zone. It consists of the mid-May low and the mid-June high and as such may short-term cap. If not, the way would be open for…
EVERTEC (NYSE:EVTC) climbs 1.3% on prelim Q2 numbers and FY outlook, will acquire Sinqia for consideration with a value of R$27.19 per share, increased by a customary daily “ticking fee” of up to R$1.00 per share depending on the timing of the closing. Sinqia is a player in the market for software for financial services in Brazil. Based on the closing price of Sinqia shares on July 19, 2023, Sinqia has an equity valuation of R$2,326M ($485M) and an enterprise value of R$2,835M ($591M). The transaction represents a ~24.0% premium to the unaffected share price at July 19, 2023, and…
© Reuters. FILE PHOTO: A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration STOCKHOLM (Reuters) – OpenAI’s head of trust and safety Dave Willner is leaving the company, he said in a LinkedIn post on Friday, citing the pressures of the job on his family life and saying he would be available for advisory work. OpenAI did not immediately respond to questions about Willner’s exit. Trust and safety departments have taken on a high-profile role in technology companies such as OpenAI, Twitter, Alphabet (NASDAQ:) and Meta as they seek…
GBP/USD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Download Your Free GBP Q3 Forecast Now Read More: Dollar Index (DXY) Eyes Deeper Recovery with USD/CHF at 12-Year LowsCable saw Wednesdays drop extend into Thursday on the back of a stronger dollar as market participants position ahead of next weeks FOMC meeting. The US Dollar is facing some stern resistance while positive UK retail sales data this morning could keep cable moving higher in the short term.UK RETAIL SALES DATA AND US LABOR MARKETSUK retail sales surprised to the upside this morning in what will likely serve as a positive…
The miss in the US CPI report last week has led to a broad US Dollar weakness as the market anticipated one last hike at the July FOMC meeting. The falling inflation with a resilient labour market have also strengthened the soft-landing narrative and caused a positive risk sentiment in the markets. This week though, the higher than expected Retail Sales (Control Group) and the much better than expected US Initial Claims gave the USD some support and the weakness after the miss in the CPI was almost completely erased. On the other hand, the BoC hiked rates by 25…
Share: AUD/USD reverses modest intraday losses and draws support from subdued USD price action. Hopes for more Chinese stimulus and bets for additional RBA rate hikes also lend some support. Traders might refrain from placing directional bets ahead of the FOMC decision next Wednesday. The AUD/USD pair extends the previous day’s sharp retracement slide from the vicinity of the 0.6850 area and continues losing ground through the Asian session on Friday. Spot prices, however, manage to recover a few pips from the daily low and currently trade with a slight negative bias, around the 0.6770-0.6775 region, down less…