Author: FX
The Land Down Under is about to print its economic report card for Q3 2024! Did growth improve slightly as the Reserve Bank of Australia (RBA) expected? Or were there weak spots that may support calls for an interest rate cut? Here’s what you need to know about the upcoming release and how it may impact the Australian dollar! 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
The USDCAD is climbing higher at the start of the new trading week, supported by the USD’s upward momentum. The pair is approaching two significant technical levels: the 100-bar moving average (MA) on the 4-hour chart and the broken 38.2% retracement of November’s trading range.These levels were breached on Friday, but the move lacked momentum, leading to a pullback toward 1.3878, a key level corresponding to the 2022 high. Notably, on Friday, the price tested this support twice and rebounded, reinforcing its significance.Support: 1.3878 (2022 high).Resistance: 1.40417 (broken 38.2% retracement of November 2024 range).Traders will be watching for momentum around…
EUR/USD loses momentum to near 1.0530 in Monday’s Asian session. Eurozone’s inflation rose to 2.3% YoY in November. The cautious stance of the Fed provides some support to the USD and acts as a headwind for EUR/USD. The EUR/USD pair faces some selling pressure to around 1.0530 amid the firmer US Dollar (USD) during the early Asian trading hours on Monday. Investors will closely monitor the speech by the European Central Bank’s (ECB) President Christine Lagarde and the release of the US ISM Manufacturing Purchasing Managers’ Index (PMI), which is due later on Monday. Inflation in the Eurozone, as measured by…
Welcome, fellow traders! Have you ever felt lost in the ever-shifting tides of the market, unsure of whether to ride the wave or paddle against the current? Fear not, for the world of technical analysis offers a plethora of tools to navigate these financial waters. Today, we’ll be diving deep into one such tool: the DSL-DMI MT5 indicator. This article, designed specifically for traders of all experience levels, will equip you with the knowledge to confidently utilize the DSL-DMI within your MT5 trading platform. We’ll explore its inner workings, decipher its signals, and uncover strategies to leverage its trend-spotting prowess…
The Previous High-Low and Chaikin Money Flow Forex Trading Strategy is a dynamic approach designed for traders who seek to blend price action with volume insights. By using the highs and lows of previous trading sessions as key reference points, this strategy taps into natural support and resistance levels that frequently influence price movement. Paired with the Chaikin Money Flow (CMF) indicator, which reveals the buying and selling pressure within a given period, this strategy provides a comprehensive view of both price direction and underlying market sentiment. Together, these elements empower traders to make well-informed decisions based on both price…
WASHINGTON (Reuters) – U.S. President Joe Biden said on Sunday he had pardoned his son, Hunter Biden. “Today, I signed a pardon for my son Hunter. From the day I took office, I said I would not interfere with the Justice Department’s decision-making, and I kept my word even as I have watched my son being selectively, and unfairly, prosecuted,” he said in a statement released by the White House. “I hope Americans will understand why a father and a President would come to this decision.” Source link
The major currency pairs are off and running….well walking…. with modest changes to start the new trading week. Versus the USD:EUR +0.06%JPY -0.08%GBP+0.03%CHF UnchangedCAD -0.08%AUD-0.05%NZD +0.03%Bitcoin closed on Friday at $97,512 and the digital currency is trading at $97,522 after reaching a high of $97,880 (today) and a low at $95,758 (on Saturday). Source link
This week our currency strategists focused on the Australian CPI update and the RBNZ Monetary Policy Statement for potential high-quality setups. Out of the six scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions to see what happened! Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d like to…
Robert Way Fidelity marked up the value of its holdings in Elon Musk’s X by 32.37% in October, Axios reported Sunday, possibly boosted by the social media’s stake in xAI. Despite the markup, Fidelity still values the platform formerly known as Twitter at a Source link
MILAN (Reuters) – Stellantis (NYSE:) Chief Executive Carlos Tavares has resigned, a source close to the matter said on Sunday. The maker of vehicle brands including Jeep, Fiat (BIT:) and Peugeot (OTC:) will officially announce the resignation later on Sunday, the source added. Source link