Author: FX
EUR/JPY is in a downtrend but it has reached oversold levels according to the RSI. The pair is closing in on key support and could find its feet and pullback. EUR/JPY extends its decline on Monday but reaches oversold levels. The pair is in a short and medium-term downtrend since the October 31 peak, and given the technical analysis dictum that “the trend is your friend” the odds favor more downside to come. However, according to the Relative Strength Index (RSI) the pair is in the oversold zone (below 30) and this means short-holders should not add to their positions.…
Bulls vs. Bears: What’s next for SMCI? Source link
ThinkMarkets, a leading online trading provider, has further solidified its reputation as an industry innovator by receiving two prestigious awards from renowned publications.Investors’ Chronicle AwardOne of the UK’s top financial markets magazines, published by the Financial Times Group, recognised ThinkMarkets as a leading Spread Betting Provider. The magazine’s audience evaluated spread betting providers based on criteria such as range of services, affordability, and communication quality. Based on the feedback, ThinkMarkets emerged as one of the top providers for spread betting. TechRadar AwardA leading technology publication with over 16 million monthly visitors, TechRadar awarded ThinkMarkets’ proprietary trading platform, ThinkTrader, the title…
DOW JONES (DJI) Elliott Wave Analysis: Daily Chart. DJI Elliott Wave technical analysis Function: Bullish Trend. Mode: Impulsive. Structure: Gray Wave 3. Position: Orange Wave 3. Next lower degree direction: Gray Wave 4. Details: Gray wave 2 appears complete, and gray wave 3 is currently in progress. Wave cancel invalidation level: 42,849.27. Analysis overview The Dow Jones Industrial Average (DJI) is exhibiting a bullish trend, as indicated by Elliott Wave analysis. The market is currently in an impulsive mode, signaling strong upward momentum and an expansion phase. The structure being tracked is gray wave 3, which represents a robust upward push following the completion of gray wave 2. Key observations: Wave Structure and…
Sundry Photography/iStock Editorial via Getty Images Spirent Communications (OTCPK:SPMYY) and Keysight Technologies (NYSE:KEYS) on Monday said that they had reached an agreement on the terms and conditions of an all-cash acquisition of the entire issued and to be issued ordinary share capital of Spirent. Furthermore, the companies said, a Source link
(Reuters) – Adani Power (NS:) on Monday said it has no indication that the Bangladesh government is reviewing a power purchase agreement with the company, a day after Reuters reported that the country is looking to renegotiate the deal. Reuters on Sunday reported that Bangladesh wants to sharply lower prices under the deal with Adani Group. Source link
Trend traders huddle up! EUR/USD is chillin’ like a villain near a key resistance zone just as the Euro Area is printing PMI reports and the U.S. is dropping key labor market-related data. Will the pair extend its trend in the next few days? We’re taking a closer look at the 4-hour chart: EUR/USD 4-hour Forex Chart by TradingView In case you missed it EUR/USD has been in a downtrend since October when the markets started taking a chill pill on their dovish Fed expectations. European Central Bank (ECB) members, on the other hand, have fed the market doves by…
Australia’s upcoming quarterly GDP release could make or break RBA policy expectations, as another strong print could support their hawkish views. Our Event Guide for the Australian Q3 GDP noted a few growth components that likely contributed to a faster pace of expansion for the period. Here’s what I’m looking at on EUR/AUD and AUD/CAD in case the numbers surprise to the upside. 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 Access to exclusive MarketMilk™ sections Plus More!…
Australia is dropping its Q3 2024 GDP this week! Our Australian GDP Event Guide points out that continued weakness in consumer spending and imports outpacing exports may lead to another weak reading for the period. Still, green shoots in business activities could keep the Reserve Bank of Australia (RBA) less dovish than its peers. 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 Access to exclusive MarketMilk™ sections Plus More! Source link
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straight forward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the USD/CHF pair within the H4 timeframe. I’ve shared a trade setup image for…