Author: FX

bizoo_n/iStock Editorial via Getty Images The reputation of cryptocurrency champions took a severe hit in arguably one of the worst years the industry has seen, but certain Seeking Alpha contributors warned investors of the impending downturn. The crypto market suffered from high-profile bankruptcies, including the FTX meltdown, as well as a wider risk-off sentiment spurred by fast-rising interest rates and concerns about the future of the economy. Bitcoin (BTC-USD), the general public’s totem for the crypto market, dropped about 65% in 2022. Many pro-crypto arguments that fueled its rise in previous years underwent intense scrutiny, from Bitcoin’s potential as an…

Anyone hoping to catch the trend on crude oil? I’m seeing a potential channel resistance test lined up early this week! WTI Crude Oil (USOIL) 4-hour Chart How’s my favorite commodity looking at the start of the new year? Crude oil seems to be feeling the bullish vibes early on, as price just held its ground above the mid-channel area of interest on the 4-hour time frame. With that, bulls could set their sights on the next upside barrier at the channel top around the $84-86 per barrel levels. However, technical indicators are still hinting that the downtrend is more…

What you need to take care of on Tuesday, January 3: The US Dollar started the year advancing against most of its major rivals but ended it unevenly across the FX board.  The EUR was the weakest, as EUR/USD retreated from the 1.0700 area towards the current 1.0650 price zone, while the AUD was the strongest, with AUD/USD holding above the 0.6800 threshold. GBP/USD and USD/JPY finished Monday unchanged at 1.2045 and 130.75, respectively, while USD/CAD edged higher and settled at around 1.3560. Most Asian stock markets remained closed, while some European ones were also inactive.  The European benchmarks that…

The EURUSD is starting the trading year with more upside momentum and in the process retraced some of the declines from the EURUSD’s decline in 2022. The pip trading range for the 2022 year was about 2000 pips which is near the extreme of the low to high trading range over the last 12 or so years. What will 2023 bring us, if we anticipate a more normal range of about 1400-1600 pips and the rallies are to be sold in the EURUSD?IN this video, Greg Michalowski of ForexLive.com takes a broader view on EURUSD and what traders might anticipate…

The USD/CHF downfall stalled around 0.9200 as a triple bottom emerged. A falling wedge and oscillator flashing selling pressure waning could pave the way for further upside in the USD/CHF. USD/CHF is poised for a break above 0.9300 as it eyes a test of the 20-day EMA. The Swiss Franc (CHF) bounces at around 0.9200 and climbs toward 0.9250s amidst the North American session, which witnessed light liquidity conditions in the observance of 2023 new year’s eve. Therefore, the lack of US and Swiss economic data left traders adrift to market mood and technical. At the time of writing, the…

Forex Trading Course Walkthrough Talking Points:This is the tenth of a ten-part series in which we walk through articles from DailyFX Education. The aim of this series is simplicity while walking through some of the more important aspects of the FX market along with traders’ strategies and approaches. If you would like to access the full suite of Educational articles offered by DailyFX Education, you can get started with the beginner section at this link: DailyFX Forex for Beginners We are now in our final installment. But, keep those graduation caps on because your trading career is just now getting…

Tesla sets record with 405,278 deliveries in Q4, misses estimates Source link

© Reuters. BOGOTA (Reuters) – Initial negotiations between Colombia, France’s Dassault Aviation and Sweden’s Saab AB to replace part of the South American country’s aging air force fleet have collapsed, the defense minister said on Monday. Colombia, which uses about 20 Israeli-made Kfir aircraft purchased three decades ago, has said replacing the planes is a priority so it can continue to defend its territory, fight organized crime and conduct aerial surveillance. “Unfortunately in the pre-negotiations that took place at the end of (last) year, we did not manage to confirm with the French or with the Swedish,” Defense Minister Ivan…

Forex Trading Course Walkthrough Talking Points:This is the ninth of a ten-part series in which we walk through articles from DailyFX Education. The aim of this series is simplicity while walking through some of the more important aspects of the FX market along with traders’ strategies and approaches. If you would like to access the full suite of educational articles offered by DailyFX education, you can get started here: DailyFX Forex for Beginners Successful traders rely on strategies crafted to suit their trading style. If you’re new to forex trading, you can learn which trading style best suits you by…

Mattel, Inc. (MAT), a children’s entertainment company, designs & produces toys & consumer products worldwide. The company operates through North America, International & American Girl segments. It is based in El Segundo, CA, comes under Consumer Cyclical sector & trades as “MAT” ticket at Nasdaq. In the previous article, MAT expected to extend lower in ((C)) of wave II correction. It expected to extend towards $18.23 – $14.54 area in zigzag correction before turning higher. It already reached that area & still expect small downside to finish wave II before turning higher. MAT – Elliott Wave view from 9/27/2022 It placed ((1)) at $9.44…