Author: FX
Bitcoin gets closer to the 200 day MAThe price of Bitcoin has continued its run to the upside today and is getting closer to its 200 day MA at $19510.90. The high price today has reached $19396 so far, just $120 or so from the MA level.The price of bitcoin has not traded above its 200 day MA since December 31, 2021. The price today moved above its 38.2% retracement of the move down from the August 15, 2022 high. That comes in at $19,279. That level is a close risk level for buyers. For the week, the price is…
© Reuters. FILE PHOTO: TikTok app logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration By David Shepardson WASHINGTON (Reuters) – Kentucky is joining more than 20 U.S. states in banning the popular video app TikTok on government devices citing cybersecurity concerns. The state said it had updated its employee handbook to bar state employees from using government-managed devices to access the Chinese-owned app “other than for a law enforcement purpose.” On Thursday, the governors of Wisconsin and North Carolina signed orders banning TikTok on government devices. Ohio, New Jersey and Arkansas also took similar actions earlier…
gold daily chartThe gold bulls are certainly having a moment.At the start of December, as I always do, I highlighted the seasonal trend towards higher gold. Once again, it worked and remains the single-best seasonal trade I know of. It’s been a ticket to start the year off with a solid gain forever.This year has been particularly good with gold surging off a triple bottom in early November. The gains accelerated after softer October CPI and has been supercharged by the retracement in the US dollar and expectations for a less-hawkish Fed.It’s now up 17% since the start of November,…
Crude oil prices testing the downward sloping trendlineThe price of WTI crude oil is settling at $79.86. That is up $1.47 or 1.88%. The high for the day is not far from the sell price at $39.89. The low was down at $77.97.For the trading week, the prices of 8.15% after closing last week at $73.77. That is the largest increase going back to October 3, 2022 trading week. The price has been up for seven consecutive days.Looking at the daily chart above, the will to the upside has the price testing the downslope trendline. Move above that level traders…
The major indices have erased declines, and the major indices are back in black. Technically, the S&P is back above its 200 day MA at 3981.17. The price is at 3988 currently.The Nasdaq is getting closer to its 100 day MA at 11057.39. The high today just reached 11043.59 (within 14 points of the MA level). The price moved above the 100 day MA back on December 13, the day of the CPI, but quickly reversed. Its 200 day MA is still higher at 11633.81 (+5.22% from current levels). ADVERTISEMENT – CONTINUE READING BELOW Source link
USD/CHF retraced earlier gains after printing a daily high of 0.9316. Upbeat US economic data is bad for the greenback as the US Dollar weakens. USD/CHF Price Analysis: A break / daily close below 0.9300 would expose the pair to further selling pressure. The USD/CHF is trading below its opening price, though it failed to crack the 20-day Exponential Moving Average (EMA) and missed to hold to 0.9300, albeit upbeat US data crossed newswires. Therefore, the USD/CHF is exchanging hands at 0.9265 at the time of writing. Wall Street has resumed its uptrend after a brief hiccup that witnessed the S&P…
Go with the break is the message from MUFG Research’s first trade of the week for 2023. They suggest buying EUR/CHF from spot (reference 1.0045) with a target of 1.0470 and a stop at 0.9830.”We are recommending a new long EUR/CHF trade idea. Given the CHF’s role as a regional safe haven currency, the CHF should weaken as downside risks in the eurozone continue to ease,” MUFG notes.”We also believe there is room for EUR/CHF to play catch up with the move higher in EUR/USD since late last year,” MUFG adds.For bank trade ideas, check out eFX Plus. For a…
Jeff Weniger from WisdomTree put together a nice graphic emphasizing that US inflation is about to begin lapping some seriously high year-over-year comparative numbers. With that, the old numbers will ‘fall out’ of the year-over-year reading and that will cause inflation readings to fall.How far will they fall?If CPI were to run at 0.3% m/m for the next six months, we would be looking at 2.7% y/y in June and if it’s 0.2% the Fed would reach its target.What will make it tougher than it might seem is that commodity (especially gasoline) prices have stopped falling and that’s been a…
Consumer Sentiment in the United States improved and capped AUD/USD rally. The US last inflation report, spurred speculation that the Fed would decelerate the pace of interest rate increases. Improvement in Australia – China relations is a tailwind for the Australian Dollar. The Australian Dollar (AUD) hit a fresh six-month high against the US Dollar (USD) on Friday, though it has paired some of its earlier gains, albeit Thursday’s US data showed that inflation continued to grind lower. Therefore, the AUD/USD is trading at 0.6964, almost flat at the time of typing. Investors’ mood is mixed as US equities fluctuate…
> Baker Hughes Oil rigs up 5 in the current week The weekly Baker Hughes rig data Total rigs: Up 3 rigs to 775Oil rigs: Up 5 rigs to 623Gas rigs: Down -2 rigs to 150ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT – CONTINUE READING BELOW Source link