Author: FX
It’s a holiday-shortened day today and the reaction to non-farm payrolls was that good news is good news. S&P 500 futures closed early for the Good Friday holiday and finished up 9.5 points to 4141. This article was written by Adam Button at www.forexlive.com. Source link
Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities. At one point or another we’ve encountered setups that we didn’t take even though they so clearly fit our biases and strategies. All too often, those missed trades also tend to be winners. There are plenty of reasons why we fail to catch good pips. Steve, for example, could have chosen to stay in…
Mean reversals and trend continuation strategies tend to be opposite sides of a spectrum. However, these two very different types of strategies may be traded in confluence with each other. This is possible whenever we are looking at a long-term trend and a short-term momentum signal. The strategy discussed below shows us an example of how we can trade trend continuation strategies with a mean reversal signal indicated on the short-term. Guppy Multiple Moving Average Indicator The Guppy Multiple Moving Average Indicator is a momentum indicator which was developed based on a trading concept introduced by Daryl Guppy, an Australian…
© Reuters. FILE PHOTO: Toyota Motor Corporation’s bZ SDN is pictured after a briefing on the company’s strategies on battery EVs in Tokyo, Japan December 14, 2021. REUTERS/Kim Kyung-Hoon By Daniel Leussink and Maki Shiraki TOKYO (Reuters) -Toyota Motor Corp will introduce 10 new battery-powered models and target sales of 1.5 million EVs a year by 2026, aiming for steep growth in a market where it has long been lapped by rivals. The world’s largest automaker by sales will also set up a new, specialised unit to focus on next-generation battery EVs, senior executives said at a briefing on Friday…
Trading was cautious heading into the March jobs report and the Easter holidays. Most global markets will be closed on Good Friday, with much of Europe also shut for Easter Monday. Wall Street will not trade today, but the Treasury market will be open for an abbreviated session due to the employment report. The USD recovered from lows, Stocks closed a tad higher and Yields slipped again (US 10-yr at 3.288%). Gold tested down to $2,000 before settling a $2007.82, & USOil closed at $80.70. Overnight: Japan – February household spending (weaker) +1.6% vs +4.3%…
Planning on trading the U.S. dollar but not against other major fiat currencies? Explore your options with Spot Gold (XAU/USD) and Ether’s (ETH/USD)’s short-term charts! Check out not one but TWO Fib retracement setups: XAU/USD 1-hour Chart by TradingView[/caption] After a strong upswing this week, gold bugs found resistance at the $2,030 area. XAU/USD is now trading closer to the $2,000 psychological handle, which also happens to line up with a resistance from late March this year. What’s more, XAU/USD’s current prices are also not far from the 38.2% Fibonacci retracement level of April’s upswing AND the 100 SMA on…
Asian markets rise in dull session, many markets closed for Good Friday Source link
Share: Gold price edges lower in its battle with the wall of resistance around $2,010. Recession woes, geopolitical concerns challenge XAU/USD bulls near multi-month high. US NFP needs to part ways from downbeat US data to renew hawkish Fed bias. US inflation, FOMC Minutes also eyed to better predict May’s Fed rate hike. Gold price (XAU/USD) slips off bull’s radar for a while as markets consolidate amid the Good Friday holiday, despite being set for the weekly gain to around $2,007. Adding filters to the XAU/USD trading is the cautious mood ahead of the US employment data for…
Prior 96.5; revised to 96.6Coincident index 99.2Prior 96.1; revised to 96.4The assessment of the coincident index remains unchanged as it is still seen as “weakening”. The numbers just reaffirm a slight improvement in overall business conditions but the Japanese economy is still arguably running well below capacity. Source link
USD/JPY looks ready to make higher highs after a downswing in March. Are we looking at a bearish flag or a legit reversal? I’m looking at USD/JPY’s 1-hour chart for clues! USD/JPY 1-hour Forex Chart by TradingView In case you were too busy prepping for the Easter weekend, you should know that data releases from the U.S. so far this week point to Uncle Sam’s labor market weakening thanks in part to the Fed’s aggressive tightening program. Speculations of a recession in the U.S. helped drag USD/JPY to its 133.50 levels at the start of the week all the way…