Author: FX
Share: XAG/USD is upward biased from a daily chart perspective, and it might test the YTD high at $24.63. XAG/USD is in a solid uptrend, supported by oscillators at bullish territory. XAG/USD may experience a downside if it falls below $23.50, as it could drop toward the S1 pivot point. Silver price broke a two-month resistance trendline, reaching a new 8-week high of $23.92 due to overall US Dollar (USD) weakness and falling US Treasury bond yields. Therefore, the XAG/USD is trading at $23.74, up more than 2%, after hitting a low of $23.24. XAG/USD Price action From…
CANADIAN DOLLAR OUTLOOK:USD/CAD extends losses amid positive market sentimentHigher oil prices also benefit the Canadian dollarThe pair seems to be on the verge of invalidating a key technical support zone, a bearish signal for price action Recommended by Diego Colman Get Your Free USD Forecast Most Read: EUR/USD Confronts Trendline Resistance, Threatens Breakout After Hot German CPIThe Canadian dollar, colloquially known as the loonie by forex traders, continued to appreciate on Thursday, supported by widespread U.S. dollar weakness, risk-on sentiment on Wall Street and rising oil prices, with USD/CAD retreating more than 0.2% to 1.3530, the lowest exchange rate in…
Crypto exchange Kraken pledges to comply with tighter rules in Canada Source link
2/2 © Reuters. FILE PHOTO: Dressmaker Faieza Caswell from Mitchells Plain sews under candlelight in her workplace, on the Cape Flats due to South Africa’s struggling power utility company Eskom, implementing regular power cuts – called ‘load-shedding’, in Cape Town, Sou 2/2 By Tannur Anders and Promit Mukherjee JOHANNESBURG (Reuters) – Three major jolts in as many years coupled with the once unthinkable possibility of a power grid collapse have spooked reinsurers in South Africa, spelling an end to cheap coverage in the continent’s most developed insurance market. Insurance premiums are climbing worldwide on the back of rising inflation and…
INTEL, Daily Intel Corporation’s latest announcement regarding its server chip products has caused a significant surge in the company’s stock price. According to Executive Vice President Sandra Rivera, Intel will introduce a new server chip, complete with more computing cores, using an advanced production technique that will come sooner than anticipated. As a result, the stock rallied by 7.6% immediately after the announcement. Intel CEO Pat Gelsinger has made it a priority to regain technological leadership in the server market, which has been one of the most profitable areas of the business. Under its previous leadership, the company lost significant…
European indices are keeping gains near 1% while S&P 500 futures are up 16 points, or 0.4%, and that is helping with the overall mood in markets so far. In turn, the dollar is the laggard but the losses aren’t really too overwhelming. EUR/USD is up 0.2% to 1.0860 levels but is in the hunt of a fourth straight day of gains:The rebound this week comes after the pair tested its 200-hour moving average on Friday last week but in the bigger picture, this is an extension of its rebound from the 100-day moving average (red line) earlier in the…
Share: Can the Swiss Franc still be a safe haven when there’s considerable stress in the financial system there? Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, discusses CHF outlook. SNB intervention policy disrupts Franc’s “safe haven” behavior “I argue that the Franc’s safe-haven-property does not depend on the Swiss banking system, but on the SNB’s interest rate policy.” “SNB’s interest rate policy policy still makes the Franc a safe haven in the FX space. However, this status is reduced by the SNB’s intervention policy.” Source link
Trending markets are excellent market conditions to find high probability trade setups which could help traders consistently earn a profit from the forex market. This is because trending markets tend to provide the trade direction as a given. Price tends to move in the direction of the trend more often than not. This gives traders the answer to one of the two most important questions when entering a trade. That first question is which direction should the trade be taken. Traders who could answer that tend to have a higher probability of turning in a profit on each trade more…
Trading Leveraged Products is risky Bank jitters continue to ease lifting sentiment again, US stocks rallied (+1% to +1.79%) led by the NASDAQ, Asian markets are mixed and European FUTS are positive. The USD bounced 0.2% but has eased overnight and Yields drifted sideways. Earnings beats from Micron (+7.19%) & Lululemon (12.72%) were upbeat surprises too. The YEN continues it’s volatile week as the Japanese financial year end looms. AUD recovers from yesterday’s weaker performance. US Pending Home Sales were better than expected (+0.8% -2.9%) and Oil Inventories significantly lower (-7.5M vs +1.8M) the Fed’s Barr continued to claim that…
Heads up, gold bugs! The precious metal is in a holding pattern these days, which means that it could be bracing for a big move soon. Here’s what you should watch out for. Gold (XAU/USD) 1-hour Chart Check out gold’s higher lows and lower highs! The commodity price is consolidating inside a symmetrical triangle on its hourly time frame and is currently testing support. A break lower could take it down by the same height as the chart pattern, which spans $1,950 to around $2,000 per ounce. In other words, a move below these current levels ($1,960) could take the…