Author: FX

Heads up, gold bulls! The shiny metal has been on a tear for the past few days, but it might be closing in on some upside targets. Check out these long-term resistance levels. Gold (XAU/USD) Weekly Forex Chart by TradingView Can gold head any higher from here? Thanks to subdued U.S. inflation reports, the commodity managed to chalk up another strong run that lifted it past the mid-channel area of interest on the weekly time frame. Price is also up to the 61.8% Fibonacci retracement level near the $1,900 resistance, which might convince bulls to book profits for now. Sustained…

If market players were looking for a straightforward trade from the US CPI data yesterday, it certainly wasn’t the case. But at the end of the day, things settled down in favour of those betting on a toned down approach from the Fed. The dollar dropped as a result and the two notable gainers were the euro and yen.Both currencies though have other things going for them with the euro also influenced by the rise of EUR/CHF above parity, with the euro area’s prospects being not as bad as they were before the winter. Meanwhile, the yen is being heavily…

Oil prices have turned sideways after failing to extend recovery to near $80.00. The black gold price has not run out of steam as the US administration is ceasing oil supply to China. Falling US inflation has triggered odds of a slowdown in the pace of the Fed’s policy tightening. West Texas Intermediate (WTI), futures on NYMEX, have sensed a lack of strength in its upside journey toward the critical resistance of $80.00. The oil price has faced barricades in stretching its rally further around $79.40 amid profit-booking, however, the upside bias is still solid. The oil price has been…

Got Friday the 13th vibes? Don’t worry. The only way you’ll lose pips today is if you aren’t prepared with your setups and your risk management. Tilt the odds in your favor by marking AUD/USD’s channel and GBP/USD’s potential reversal! AUD/USD 1-hour Forex Chart by TradingView It looks like AUD bulls are stepping up their game as AUD/USD accelerates its uptrend on the 1-hour time frame. As you can see, the pair busted above an ascending channel to form another ascending channel above the previous one. Even the simple moving averages showed the uptrend acceleration with the 100 SMA widening…

© Reuters. FILE PHOTO: The Boeing logo is seen at their headquarters in Chicago, in this April 24, 2013 photo. REUTERS/Jim Young (Reuters) – A China Southern Airlines Co Ltd flight on a Boeing (NYSE:) Co 737 MAX took off on Friday, flight tracking website FlightRadar24 showed, marking the first passenger service on the model by a Chinese airline since March 2019. Here is a timeline of events surrounding the MAX: 2017 MARCH 8 – The 737 MAX gains U.S. Federal Aviation Administration (FAA) certification. MAY 22 – The MAX enters commercial service on Lion Air subsidiary Malindo Air. 2018…

<p>Tesla price cuts again.</p><p>Prices cut on its top-selling models in the US. </p> This article was written by Eamonn Sheridan at www.forexlive.com. Source link

Alibaba Group Holding Limited (BABA) is a multinational technology conglomerate that has footprints in e-commerce, retail, logistics, artificial intelligence, cloud computing and finance services. It provides an ecosystem that revolutionized the retail industry in China and globally with the adoption of various technologies.BABA is listed on NYSE as ADR. BABA has been in a clear down trend since Oct 2020. The earning results on 19 Nov 2021 triggered another round of Wyckoff sign of weakness (SOW) until the price found support at $110. However, the price was unable to rally up from there and turned into a Wyckoff redistribution phase. The price slided…

wutwhanfoto Chinese-American drug developer Structure Therapeutics (GPCR), formerly known as ShoutTi, has filed to raise $100M through a US initial public offering. Structure Therapeutics didn’t specify in its filing how many American Depositary Shares it intended to offer or the price, but indicated in an attached filing fee schedule that it was seeking to raise $100M, a number that is likely a placeholder and subject to change. The biotech hopes to list its shares on Nasdaq under the symbol GPCR. Lead bookrunners include Jefferies, SVB Securities, Guggenheim Securities and BMO Capital Markets. The company has been focused on developing drugs…

Introduction to the Pivot Lines Time Zone Indicator Pivot Point levels are critical levels which many professional traders use, including institutional traders trading for big banks. However, the Pivot Point levels we are using may differ from what they are using. This is because our indicators may be calculating Pivot Points based on different open, high, low, and close price levels. This indicator allows users to adjust the time zone for the Pivot Points, which can compensate for the time difference between the Pivot Point used on our platforms and the Pivot Point levels based on major markets. What is…

Matt Stroshane/Getty Images Entertainment Tiger Woods-backed SPAC Sports & Health Tech Acquisition Corp. (LDSP) has withdrawn plans for a $150M initial public offering. The SPAC first filed with the SEC for an IPO in January 2022, with the intention of securing a business combination in the sports and health sectors.  Woods was a lead investor in the SPAC. Other key investors were former pro tennis player Caroline Wozniacki and former NBA player David Lee.  For more SPAC news, check out SA’s SPAC News page.   Source link