Author: FX
The GBP/USD pair could target the nine-day EMA support at 1.2613. The 14-day RSI remains above the 50 level, indicating sustained bullish momentum. The initial resistance appears at the two-month high of 1.2690. The GBP/USD pair gives up part of its recent gains from the prior session, hovering around 1.2650 during Wednesday’s Asian session. Despite this pullback, technical analysis of the daily chart indicates a sustained bullish outlook, as the pair remains within an ascending channel pattern. The 14-day Relative Strength Index (RSI) stays above the 50 mark, reflecting strengthened bullish momentum. Additionally, the pair continues to trade above the…
Is that a double top I’m seeing on the daily time frame of bitcoin? Or is BTC/USD still about to bounce off support and keeping moving sideways in its long-term range? Better keep this potential neckline breakdown on your radar! Bitcoin (BTC/USD) Daily Chart by TradingView It hasn’t been the best of weeks for bitcoin bulls, as the recent crypto heist in Bybit and the record outflows in bitcoin ETFs have sparked major losses. BTC/USD has formed a double top pattern on its daily time frame and appears to be breaking below the neckline support around $90K. Is it in…
Australia’s inflation rate held steady at 2.5% for the year ending January 2025, matching December’s reading and coming in just below what economists expected. The trimmed mean measure of core inflation ticked up slightly to 2.8% in January from 2.7% in December, suggesting persistent underlying price pressures despite remaining within the Reserve Bank of Australia’s (RBA) target band. A closer look at the report showed that: Food prices rose 3.3% compared to last year Housing costs increased 2.1% Alcohol and tobacco jumped 6.4% Electricity prices fell significantly (-11.5%) thanks to government rebates Rent increases are slowing down (5.8%, down from 6.2%)…
Data flow was relatively light in the latest trading sessions, leaving the market spotlight mainly on geopolitical headlines, as well as mid-tier U.S. reports. In particular, the CB consumer confidence index took center stage, as downbeat results led to another day in the red for Treasury yields. Here are the updates you need to know. Headlines: ECB official Nagel cautioned against rushing interest rate cuts, citing a fairly encouraging inflation outlook German final GDP for Q4 2024 confirmed at -0.2% as expected Friedrich Merz’s CDU/CSU alliance confirmed that they will be looking to pair up with the SPD to form…
Do you find it hard to understand the forex market? Many traders face big price swings, leading to big losses. It’s tough to see what’s happening in the market, which can be very frustrating and costly. But there’s a way to get better at trading. Learning about forex volume analysis and market depth can help a lot. These tools can show you how liquid the market is and how prices move. This knowledge can help you make better choices and maybe even earn more. Key Takeaways Market depth reveals a market’s ability to absorb orders without significant price changes. Volume…
Bank of America forecasts that the Federal Reserve will maintain interest rates through 2026, no rate cuts in 2025. This call from BoA is reitrating the same from last week, but its getting attention again. Main points the analysts make:The higher rates for longer may tighten financial conditions, reducing liquidity and pressuring asset prices, including equities and cryptocurrencies.A stronger U.S. dollar could result from sustained high rates, making riskier assets like cryptocurrencies less attractive to investors.Elevated borrowing costs may slow consumer spending and business investments, increasing recession risks.***The market will view the potential for rate cuts remaining off the table.:for…
Apple shareholders vote to keep its diversity policies Source link
NZD/CHF has dropped significantly since our last update, with global growth concerns weighing on risk-sensitive currencies following disappointing PMI data. Let’s review the final outcome of our case study. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™ Plus More! Source link
The US Dollar remained well on the defensive, dropping to the area of multi-week lows as investors’ jitters over the health of the US economy gathered extra steam, while uncertainty around tariffs also contributed to the cautious stance. Here is what you need to know on Wednesday, February 26: The US Dollar Index (DXY) left behind two daily gains in a row and slipped back to the area of two-month lows amid diminishing US yields across the curve. The weekly MBA Mortgage Applications are due in the first turn, seconded by New Home Sales and the EIA’s weekly report on…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…