Author: FX

WTI crude oil has been cruising lower inside a short-term channel, and it looks like the energy commodity could be aiming much lower from here. Or can it still pull off a longer-term reversal? Check out these major inflection points! WTI Crude Oil (USOIL) 4-hour Chart by TradingView The energy commodity has been in selloff mode for roughly four months already, forming lower highs connected by a descending trend line visible on the 4-hour time frame. Price is still hovering close to this resistance zone, but a short-term falling channel has also been keeping gains in check. Can price break…

Is the trend still our friend on NZD/JPY? The pair is hitting a ceiling at its channel top but could still find buyers at the nearby correction levels. Take a look at these inflection points on the 4-hour time frame! NZD/JPY 4-hour Forex Chart by TradingView Expectations of stimulus from Japan have been dragging the yen lower for the most part of November while improving risk sentiment has propped the Kiwi up. However, NZD/JPY hit a roadblock at the top of its ascending channel as risk assets suffered a sharp reversal on persistent AI valuation concerns. Can the pair still…

The Close Low MT4 Indicator is a technical tool designed to track and display the lowest closing price of a selected period on a chart. It gives traders a visual representation of where the market has recently found support or where the price might bounce. By automatically calculating and marking these levels, traders can easily recognize patterns and make more informed trading decisions without manual analysis. How It Helps in Market Analysis This indicator proves useful for both day traders and swing traders who rely on support-based strategies. By identifying close low levels, traders can confirm potential entry zones, detect…

Japan preliminary manufacturing PMI for November 48.8, contracted for a fifth monthprior 48.2Some of sub-indexes:factory output showed improvement, climbing to a four-month high, suggesting that the business environment for manufacturers is edging towards stabilisationnew orders continued to decline, though at a slower rate than in October, reflecting subdued domestic and global demandoverseas demand remained particularly weak, with new export orders falling at the fastest pace in three months. Services 53.1prior 53.1new businesses in the service sector grew at a faster pace, driven by solid domestic demandComposite 52.0, eighth straight month of expansionprior 51.5The report from S&P Global Market Intelligence highlights:”inflation…

The GBP/JPY extended its rally for the fourth straight day, yet it trades below the 206.00 figure after refreshing yearly highs at 206.86 on Thursday. At the time of writing, the cross-pair trades at 205.85 up 0.49%.GBP/JPY Price Forecast: Technical outlookThe technical picture remains upward biased, but the GBP/JPY faced 207.00 but failed to clear the latter, retreating more than 100 pips toward the current exchange rate. Despite this, the mood remains positive as depicted by the Relative Strength Index (RSI) closing in overbought territory, an indication that buyers are in charge.As of writing, GBP/JPY first key resistance would be…

Risk assets suffered a sharp reversal on Thursday, with US equities surrendering robust morning gains to close deeply in the red as Nvidia’s blockbuster earnings failed to quell anxiety over AI valuations, while a barrage of hawkish Federal Reserve commentary reinforced expectations that the central bank may pause its easing cycle in December. Check out the forex news and economic updates you may have missed in the latest trading session! Forex News Headlines & Data: Bank of Japan board member Koeda stated that the BOJ should continue normalizing policy and raise interest rates as underlying inflation is near 2%, to…

The broader S&P and NASDAQ indices are both testing key swing levels and also near their 100 day moving averages. For the S&P index the last time the price traded below its 100 day moving average is back on May 9. For the NASDAQ index it to is traded below its 100 day moving average on May 9For the S&P index the 100 day moving average comes in at 6544.66. The low price just extended below that level but is bouncing modestly.For the NASDAQ index its hundred day moving average comes in at 22040. The price just fell below a…

The U.K. inflation report reflected cooling price pressures, and traders are wondering what’s next for the British pound. Will the BOE push through with its December rate cut as many expect? With U.K. unemployment rising and growth slowing, dovish expectations for the BOE are driving interest rate divergences for central banks like the Fed and RBA. Dive in as we break down what’s moving the currency, what newbie traders should watch out for, and potential strategies to consider. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily…

The New Zealand Dollar (NZD) pares early gains against the US Dollar (USD) on Thursday, as near-certain expectations of another interest rate cut by the Reserve Bank of New Zealand (RBNZ) keep the Kiwi under sustained pressure. At the time of writing, NZD/USD is trading around 0.5593, easing after a brief, volatile spike to 0.5639 in the immediate reaction to the release of the delayed US labour data.Earlier in the day, markets received the first official US employment data in weeks after delays caused by the government shutdown. The September Nonfarm Payrolls (NFP) rose 119K, strongly beating the 50K forecast,…

Walmart shares are up 3.6% in the pre-market following today’s earnings report. I think this report is probably the best reading on the consumer that we will get before the next Federal Reserve meeting.The verdict? Pretty good but with some caveats.Comp sales were up 4.5% in the US and the company raises its outlook for sales growth for the year to 4.8-5.1% (from 3.75-4.75%). The comp sales consensus estimate was 3.8%. That’s all good but the conference call touched on some familiar themes. Company officials said lower income families have been under additional pressure ‘of late’ and that higher income…