Author: FX

Many traders are preoccupied with finding the perfect point and predicting the correct reversal points. While all this should be theoretically sound, it is quite difficult if not impossible to execute. The perfect entry point is assumed to be the exact spot where price reverses. While I have experienced predicting the right entry points using limit entry orders several times, it is hardly accurate. Often, price would move against my position for several pips before it goes in my direction. Predicting the exact reversal point is like predicting the thoughts of thousands of traders. Not only are you guessing which…

GBP/USD – Prices, Charts, and AnalysisGBP/USD remains near multi-month high levels.US Q4 GDP is the first of two big US economic releases this week.Retail trade data underpins a bullish-contrarian bias. Recommended by Nick Cawley Forex for Beginners The British Pound is relatively unchanged over the week so far with little in the way of important data to move the dial. Any change in GBP/USD has been driven by US dollar strength or weakness and this is likely to remain the case as two high-importance US economic releases near. Today sees the advanced Q4 GDP numbers released at 13:30GMT, while tomorrow…

GasLog Partners Non-GAAP EPS of $0.74 misses by $0.05, revenue of $104.97M beats by $6.67M Source link

EUR/USD Price, Charts and Analysis: Recommended by Zain Vawda Download Our Updated Euro Forecast for Q1 2023 READ MORE: CAD Breaking News: BoC’s 25bps Rate Hike Receives Dovish Reaction, Loonie on OfferEUR/USD OUTLOOKEUR/USD continued its advance from yesterday holding above the 1.09 handle following the European open. The Euro gained steam against the greenback yesterday as the knock-on effects from the Bank of Canada rate decision trickled through the market.The Bank of Canada rate decision seems to have spurred a return of risk on sentiment as markets hope other central banks will follow suit. The BoC announced a pause to…

Morgan Stanley notes that their month-end rebalancing model expects the dollar to underperform this month, with their signal suggesting weakness in the greenback against all G10 currencies except the Norwegian Krone. That will add some weight to an already struggling dollar since the turn of the year.Just something to take note of we approach the final few trading days of January. Source link

GBP/USD may hold below 1.2447 for now still, but analysts at Credit Suisse look for an eventual break higher. Break below the 1.1841 January low would mark a decisive reversal lower “GBP/USD has retested and been capped at the 1.2445/47 highs of December. With the sell-off in the USD itself expected to stall for now as already, we see scope for further consolidation beneath here.”  “Big picture, we look for an eventual break above 1.2447 to target the May high and 61.8% retracement of the 2021/2022 fall at 1.2668/1.2758.” “Support is seen at 1.2169 initially, then the 55-Day Moving Average,…

BRENT CRUDE OIL (LCOc1) TALKING POINTSCrude inventories weigh on Brent ahead of OPEC next week.Fading USD may find some relief today leaving Brent exposed.Hesitant price action on daily chart. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT CRUDE OIL FUNDAMENTAL BACKDROP Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Brent crude oil has been rather stagnant yesterday and today with crude oil inventories showing increases via both API and EIA reports. The more recent EIA data saw a 533Mbbls rise from the prior week…

rancho_runner A decision by the U.S. and Germany to send battle tanks to Ukraine has reignited discussions on more advanced weapons platforms, such as fighter aircraft. Lockheed Martin (NYSE:LMT) COO Frank St. John has revealed that there is “a lot of conversation about third party transfer of F-16s,” under which countries would re-export their U.S.-made jets. The company is even going to ramp up F-16 production “to get to the place where we will be able to backfill pretty capably any countries that choose to do third party transfers to help with the current conflict.” While the Biden administration has…

Trading Leveraged Products is risky HK markets reopened today and rallied +2.15%, other Asian markets were softer following a weak handover from Wall Street (opened -1.6% but recovered to close flat) Gold remains at 9-mth highs and USD at 8-mth lows. The Dovish 25bp hike from the BOC hit the CAD (USDCAD hit 1.3430 from 1.3340); – the key phrase the Bank – “expects to hold the policy rate at its current level while it assesses the impact of cumulative interest rate increases.” Speculation building that the BOC could even be raising rates before year end. #TSLA (+0.38%) Earnings beat (+5.5%…

U.K.’s crude oil prices are trading a short-term uptrend! As you can see, Brent crude oil prices have been showing us higher highs and higher lows since breaking a consolidation two weeks ago. UKOIL is now ranging between 85.75 and 86.75, which isn’t surprising since the area is just above the 200 SMA on the 1-hour time frame and a key resistance back in December. More notably, the 86.00 zone also lines up with an ascending channel support that’s been around since the start of the year. Brent Crude Oil (UKOIL) 1-hour Chart by TradingView Can the commodity maintain its…