Author: FX
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EURUSD back below 100 day MATechnically, the price for the EURUSD moved above its 100-day MA at 1.0807 but stalled ahead of the falling 100-hour MA (blue line currently at 1.0832). The high reached 1.0828. Buyers turned to sellers. We are heading into the weekend and then into a new trading week, but what is clear from the hourly chart at least is that the price has been able to stay below the 100-hour moving average since May 8. There have been 4 separate tests at lower successive levels, and each test has found willing sellers. The prices also looking…
Share: The GBP/USD pair shows some resilience below the 50-day Simple Moving Average (SMA) on Friday and stages a solid bounce from sub-1.2400 levels, or over a three-week low touched the previous day. The pair, however, retreats a few pips from the daily high touched during the early North American session and currently trades around the 1.2435-1.2445 region, up nearly 0.25% for the day. Read More… The GBP/USD pair shows some resilience below the 50-day Simple Moving Average (SMA) and stages a modest recovery from sub-1.2400 levels, or over a three-week low touched the previous day. Spot prices…
Share: Archer-Daniels-Midland company, commonly known as ADM, is a multinational food processing and commodities trading corporation. Founded 1902, headquartered in Chicago and traded under the ticker $ADM at NYSE, it is a component of the S&P500 index. First of all, ADM is engaged in corn and oilseeds processing. In general, the products are oils and meals from soybeans, wheat flour, cocoa, sunflower seeds, canola, flaxseeds, peanuts and many others. As a matter of fact, it operates more than 270 plants and 420 crop procurement facilities worldwide. Currently, we can see commodities like soybeans, soybean oil, wheat in a pullback.…
Catalyst watch: Eyes on Ford event, Virgin Galactic launch, Nvidia earnings and Microsoft conference Source link
With top tier catalysts from Australia and China, this week’s strategies focused mainly on Aussie dollar pairs. We had arguably 3 out of 4 correct calls with direction, but AUD volatility was limited this week as traders balanced weak Australian data against broad risk sentiment moves highly influenced this week by U.S. debt ceiling deal developments. Forex Setup of the Week: AUD/USD Is Heading For The Bottom Of A Range – May 15, 2023 AUD/USD 4-Hour Forex Charts by TV On Monday, we spotted a textbook ranging pattern on AUD/USD’s four hour chart, with the pair clearly in a strong…
© Reuters. FILE PHOTO: Former U.S. President Barack Obama speaks during the Sandy Hook Promise Benefit in New York City, U.S., December 6, 2022. REUTERS/David ‘Dee’ Delgado (Reuters) -Russia’s foreign ministry on Friday said former President Barack Obama was among 500 U.S. citizens who would be banned in response to the latest round of sanctions announced by Washington. The ministry also said Russia had refused the latest U.S. request for consular access to detained Wall Street Journal reporter Evan Gershkovich, who was arrested in March on suspicion of spying. This move was triggered by the U.S. refusal last month to…
Share: Oil price reverses gains and marks a decline on Friday after Republicans walked out debt-ceiling talks with President Biden. The US Dollar dips as safe-haven demand dries up on easing debt-ceiling worries, Oil is mainly priced in USD. Downside for the US Dollar is likely to be contained amidst heightened inflation expectations. Oil price is in a technical downtrend, favoring shorts, although there are signs a bottom may be forming. Oil price trades modestly lower on Friday after debt-ceiling talks stall when Republican House Speaker Kevin McCarthy walked out of talks with President Biden. Earlier in the…
Share: EUR/USD bounces back from weekly lows, trading at 1.0818 following Jerome Powell’s comments about a potential pause in the Fed’s tightening cycle. Progress in US debt ceiling talks sparks optimism, with House Speaker McCarthy suggesting a deal might be reached over the weekend. In the Eurozone, the Producer Price Index rises month-on-month, while ECB officials express concern over service inflation, advocating for higher rates. EUR/USD rebounds from its weekly lows after piercing the 100-day EMA, reclaiming the 1.0800 figure following US Federal Reserve Jerome Powell’s remarks, in which he opened the door for a pause on the…
GBP/USD and EUR/GBP Prices, Charts, and Analysis Recommended by Nick Cawley Get Your Free GBP Forecast The latest look at UK inflation will determine Sterling’s strength over the coming days and weeks with headline price pressures expected to have fallen sharply in April as elevated energy prices roll off. The headline figure is seen falling to 8.2% from 10.1%, in line with recent comments from BoE Governor Andrew Bailey. The head of the UK central bank said this week that elevated energy prices account for nearly a third of headline inflation and he expects at least two full points to…