Author: FX

In case you missed it, OPEC and its major oil-producing friends started the week by announcing surprise production cut plans starting May. The cuts are expected to take out around 1.16 million barrels per day (bpd) worth of supply on top of the 2 million bpd cut announced back in October. Not surprisingly, crude oil prices including Brent crude oil shot higher yesterday. Brent Crude Oil (UKOIL) 4-hour Chart by TradingView UKOIL opened with a gap from Friday’s $80 closing prices to its $83.50 open price on Monday. Coincidentally, that’s above the 100 daily SMA resistance that hasn’t been broken…

Mean reversals are one of the most basic types of trading strategies that traders use to profit from the forex market. However, identifying the peaks and bottoms of a price swing can often be too daunting for new traders. Some technical indicators such as oscillators may help as it provides traders an objective basis for identifying oversold and overbought markets which is a prerequisite for a mean reversal. Stochastic Oscillator The Stochastic Oscillator is one of the most basic indicators that is available for traders. In fact, this is one of the first few indicators which new traders are usually…

I’m on the lookout for potential breakouts on these chart patterns! Check out these triangle formations on the 4-hour chart of EUR/GBP and hourly time frame of USD/CHF. EUR/GBP 4-hour Forex Chart by TradingView This pair has formed lower highs and found support around the .8755 mark, creating a descending triangle pattern since February. A test of support seems to be in order, but technical indicators are giving mixed signals on whether a bounce or a break is due. For one, Stochastic is already starting to pull higher from the oversold region to suggest a return in bullish vibes. In…

We have learnt to put up with the whining from China, on so many grievances, but the thing with Taiwan is the last time we had something like this China blockaded the country’s trade and flung missiles towards the island. You can get the background to all this here:China Consulate General in Los Angeles spokesperson this time around: China firmly opposes Taiwan leader’s transit in the USNo matter what capacity McCarthy meets with Tsai, it is another serious violation of the one-China principleMcCarthy – Tsai meeting it is not conducive to regional peace, security and stabilityIt is not in the…

I’m seeing a textbook trend setup on the hourly chart of CHF/JPY! Here are the levels where buyers might be waiting to hop in. CHF/JPY 1-hour Forex Chart This pair has been making higher lows over the past couple of weeks, and these dips can be connected by an ascending trend line. Another test of support might be in order, as CHF/JPY retreated from the highs at the 146.00 major psychological mark. So where are buyers hanging out? The Fibonacci retracement tool shows nearby support zones at the 38.2% level or 144.50 minor psychological mark and 50% level closer to…

Share: AUD/USD seesaws around five-week high after positing the biggest daily jump in three months. Convergence of 200-EMA, three-week-old ascending trend line challenges Aussie pair buyers. Hopes of dovish rate hike also raise doubts about bullish bias. Upbeat RSI, bullish MACD signals keep AUD/USD buyers hopeful unless the quote stays beyond 100-EMA. AUD/USD aptly portrays the pre-RBA anxiety as it makes rounds to 0.6780-85 during early Tuesday, following the strongest daily run-up since early January. Mixed concerns about the Reserve Bank of Australia’s (RBA) Interest Rate Decision challenge the AUD/USD bulls even if a clear upside break of…

US Dollar, ISM Manufacturing, RBA, Bear Flag – Asia Pacific Market Open:The US Dollar declined following softer ISM Manufacturing dataTraders are focused on the Fed pivot rather than recession woesRBA in focus during Tuesday Asia trade, DXY eyeing key support Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market Briefing – Eyes on the RBAThe US Dollar underperformed against its major counterparts on Monday, with the DXY Dollar Index falling about 0.5%. That was the worst single-day performance since March 22nd and continues the string of losses since the most recent top in early March. Meanwhile, the sentiment-linked…

TrustStamp to raise $50M through mixed shelf, stock falls 8% Source link

© Reuters. FILE PHOTO: A migrant stands near a makeshift memorial outside the immigration detention center where several migrants died after a fire broke out late on Monday, in Ciudad Juarez, Mexico March 31, 2023. REUTERS/Jose Luis Gonzalez By Lizbeth Diaz CIUDAD JUAREZ, MEXICO (Reuters) -Eduard Caraballo screamed for help. Thick suffocating smoke was filling the cell where he was held with over 60 other migrants in northern Mexico, but there was no way out. The single door was locked shut. “We screamed for them to open the cell door, but no one helped us,” Caraballo, 26, said through tears…

Trump arrested (AI image)Trump boarded a plane destined for New York, according to reports. Trump was due to surrender at the Manhattan District Attorney’s Office tomorrow and will likely be fingerprinted prior to appearing before a judge for an arraignment where he will plead not guilty.The specific charges haven’t been disclosed.It’s still a long wait until the next Presidential election on November 5, 2024 and the first Republican primaries aren’t until February 2024. Source link