Author: FX
US DOLLAR FORECASTU.S. dollar gains ahead of a major U.S. inflation report on TuesdayCPI data may help guide the Fed’s policy outlook for 2023This article looks at key USD/JPY’s technical levels to watch in the coming sessions Recommended by Diego Colman Get Your Free USD Forecast Most Read: Gold Prices on Shaky Ground Ahead of US Inflation Data and Key Fed DecisionThe U.S. dollar, as measured by the DXY index, strengthened modestly on Monday, boosted by higher U.S. Treasury yields. In late afternoon trading, the greenback gauge was up about 0.15% to 103.75, rising for the second straight day amid…
Are you ready to trade what’s probably THE most awaited economic calendar this week? I’m talking about the Fed’s monetary policy decision on Wednesday! Here are major points you need to know if you’re planning on trading the event: Event in Focus: Federal Open Market Committee (FOMC) Monetary Policy Statement When Will it Be Released: June 14, Wednesday: 6:00 pm GMT Fed Chairman Powell will conduct a presser 30 minutes later. Use our Forex Market Hours tool to convert GMT to your local time zone. Expectations: Fed to hold its Fed funds rate range steady at 5.00% – 5.25% (CME…
AULT and EOSE among industrial movers Source link
S&P 500 AnalysisS&P 500 enters into a technical recession despite tightening financial conditionsAverage S&P 500 performance after bull market confirmation suggests positive returns for longer time horizonsPrice action tests the August 2022 high ahead of US CPI and FOMCThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Traits of Successful Traders S&P 500 Enters into a Technical Bull MarketIt is widely accepted that a 20% rise off a major low marks a technical bull market – something that the S&P 500…
The GBPUSD is trading to a new session low and in the process is extending below a swing area. The move lower in the pair is being influenced by a sharp reversal in the EURGBP. Recall from Friday, the reverse was the case. That is the EURGBP moved lower which pressured the EURUSD and supported the GBPUSD. Now, the GBPUSD is relatively weak, while the EURUSD is relatively strong. For a look at the technicals in play for both the GBPUSD and the EURGBP, click on the video above.. EURGBP moves up to test the 100 hour MA Source link
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