Author: FX
Reviewed by Nick Cawley on December 9, 2021 The role of central banks in the forex marketCentral banks are mainly responsible for maintaining inflation in the interest of sustainable economic growth while contributing to the overall stability of the financial system. When central banks deem it necessary they will intervene in financial markets in line with the defined “Monetary Policy Framework”. The implementation of such policy is highly monitored and anticipated by forex traders seeking to take advantage of resulting currency movements. This article focuses on the roles of the major central banks and how their policies affect the global…
EUR/JPY manages to grab some upside traction above 139.00. Next on the upside for the cross appears the 200-day SMA. EUR/JPY gathers some much needed steam and reclaims the 139.00 hurdle and beyond at the beginning of the week. The recent pronounced correction in the cross seems to have met some contention around the 138.00 neighbourhood. If the rebound picks up a more sustainable pace, then the next target of note turns up at the key 200-day SMA, today at 140.68. Above the latter, the selling bias is expected to mitigate and could shift the outlook to a more constructive…
Cypher Metaverse cancels ~1.29M stock options Source link
BRENT CRUDE OIL (LCOc1) TALKING POINTSThin liquidity this morning likely to provide minimal price movement on Brent crude.Key crude oil releases scheduled this week.Emerging symmetrical triangle pattern on daily chart. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT CRUDE OIL FUNDAMENTAL BACKDROPBrent crude oil is trading marginally lower this Monday on the back of a stronger U.S. dollar which may be attributed to Friday’s Michigan consumer sentiment beat as well as the overexuberance by markets post U.S. CPI. Today’s trading may be a bit light across global markets due to Martin Luther King, Hr. Day in the U.S.,…
The BOJ meeting this week is dominating trades as the new week kicks-off. Japanese 10-yr yields trading at 0.51% above the BOJ ceiling and adding to the speculation that the ceiling could be raised to 1.0% on Wednesday. US stocks closed higher again on Friday and gained 2.3% last week. US markets are closed today and Asian markets are broadly higher expectations of China opening quickly even as COVID deaths hit record levels. The USD trades at 7-mth lows, GOLD at April 2022 highs, and BTC over $21k and 2-mth highs. Week Ahead – BOJ Wednesday, US – Retail…
Major currencies are back to being little changed, with the dollar’s slight losses now being recovered. It’s pretty much looking to be a snoozefest with it being a long weekend in the US as well. USD/JPY has seen a good run lower after the break under 130.00 last week but there might be some position squaring ahead of the BOJ later this week, so as to preventing a further slump as traders stay guarded against any potential BOJ disappointment.Besides that, equities remain one to watch with the S&P 500 threatening key technical levels as seen below:It’s another attempted push above…
Gold is off to a pretty solid start this year, as the rally is going pretty strong! Here’s an opportunity to hop in that uptrend. Gold (XAU/USD) 1-hour Chart by TradingView The precious metal has been cruising higher with its lows connected by a rising trend line. Are we about to see another test of support soon? Stochastic seems to be suggesting so, as the oscillator is heading south while gold is stalling near the $1,930 level. This could mean that a pullback to the Fibonacci retracement levels is in order. I’ve got my eye on the 61.8% level that’s…
Gold price hit fresh nine-month highs at $1,929 before pulling back sharply to $1,915. Overbought conditions could threaten XAU/USD bulls, FXStreet’s Dhwani Mehta reports. RSI holds well above 70.00 “Gold price has pulled back sharply from a nine-month top of $1,929, as suggested by an overbought 14-day Relative Strength Index (RSI). The daily RSI currently stands at 75.21, well past the critical 70.00 level.” “A sustained break below $1,917 could trigger a further correction toward the $1,900 threshold.” “If Gold bulls manage to regain control and take out the multi-month high, then a fresh upswing toward the $1,940-$1,941 supply zone…
Looking for swing and long-term setups to trade? Goldman Sachs looks set to extend an uptrend while Ether (ETH/USD) and USD/CAD are trading triangle patterns. Don’t even think of missing these opportunities! Goldman Sachs Group, Inc. (GS): Daily Goldman Sachs Group, Inc. Daily Chart by TradingView January has been a good month for Goldman Sachs (GS), which started the year near $340 before rising to its current $374 levels. The odds currently favor more buying as the stock looks to extend an uptrend that started in mid-2022. GS bulls who are eyeing Stochastic‘s overbought signal can at least look at…
China heads off on a week-long holiday at the end of this week for Lunar New Year, welcoming in the Year of the Rabbit. Let’s see if any of this data pulls a rabbit from the hat: This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.—This data from China is likely to be negatively impacted…