Author: FX

USD/CHF can’t seem to bust through a key technical resistance zone! Is it time to short the Greenback against its fellow safe haven? We’re taking a closer look at the daily chart! USD/CHF 1-hour Forex Chart by TradingView The U.S. dollar can’t seem to sustain gains above the .8700 psychological handle against the Swiss franc despite the U.S. 10-year Treasury yield extending its gains on Monday. We don’t have to look too far for answers. Optimism for U.S. equities is limiting U.S. dollar demand, while uncertainty over the results of the U.S. elections may be keeping some traders from buying…

Gold prices rose in United Arab Emirates on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 325.28 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 323.86 it cost on Monday. The price for Gold increased to AED 3,793.99 per tola from AED 3,777.39 per tola a day earlier. Unit measure Gold Price in AED 1 Gram 325.28 10 Grams 3,252.79 Tola 3,793.99 Troy Ounce 10,117.28 FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on…

Australia is about to print its Q3 inflation data! Our Event Guide for Australia’s Q3 2024 CPI suggests that we could see cooler price pressures compared to the previous quarter as commodity (but mostly oil) prices and average input costs eased while inflation expectations slid in the previous months. If inflation significantly eases as the markets expect, at least some Reserve Bank of Australia (RBA) members may be convinced to shift to a more dovish stance. More dovish expectations could cut the Australian dollar’s advantage against its major counterparts. This Article Is For Premium Members Only Become a…

TOKYO (Reuters) – Japan’s Finance Minister Katsunobu Kato reiterated on Tuesday that the authorities would be vigilant to foreign exchange moves, including those driven by speculators. “We will continue to closely monitor foreign exchange moves, including those driven by speculators, with a higher sense of vigilance,” Kato told a regular news conference. The yen is languishing at three-month lows as the loss of Japan’s ruling bloc’s parliamentary majority has raised expectations that the political turmoil could make it harder for the Bank of Japan to wean the economy off decades of monetary stimulus. The election results also heightened prospects that…

Will the upcoming Australian CPI release reinforce the RBA’s monetary policy stance? Or will the inflation numbers convince policymakers to change their bias in their next meeting? Here’s what you need to know about the quarterly CPI report and how AUD usually reacts. 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 allure of the foreign exchange market, or Forex, is undeniable. With its 24-hour accessibility and the potential for significant profits, Forex beckons traders of all stripes. However, navigating the dynamic currents of currency exchange requires a well-defined strategy and the right tools. Enter MetaTrader 4 (MT4), a widely popular trading platform, and its arsenal of customizable indicators – your secret weapons for building a winning Forex strategy. Unveiling the Forex Frontier Before diving into the world of MT4 indicators, let’s establish a solid foundation. Forex, in essence, is the trading of currencies against each other. Imagine you have US…

The 3 Bars High Low and High Way Channel Forex Trading Strategy is one such approach that leverages the natural ebb and flow of price movements. By focusing on the patterns formed by three consecutive bars, traders can gain valuable insights into market trends and potential reversals. This strategy harnesses the power of visual cues to create a structured framework for decision-making, making it accessible even for novice traders. At its core, this strategy revolves around identifying the high and low points within three consecutive price bars, which serves as a critical reference for entering and exiting trades. By establishing…

Appearance by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers at House of Commons Standing Committee on Financefrom 1930 GMT, 1530 Eastern time The Bank of Canada cut rates last week:Bank of Canada rate decision: 50 basis point cut, as expectedBank of Canada is out of touch, “didn’t grasp the challenges facing the Canadian economy”3 reasons the Bank of Canada cut by 50bp points (ditto for the RBNZ)RBC analysts anticipate another 50bp rate cut in December from the Bank of Canada This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The European Central Bank (ECB)  Vice President Luis de Guindos said on Monday that the central bank has made significant progress in bringing down inflation but can’t declare victory just yet, per Bloomberg.   Key quotes Price outlook surrounded by substantial risks Inflation to decline to target next year Domestic inflation remains high though moderating Risks to growth outlook elevated and tilted to the downside.  Market reaction At the time of writing, EUR/USD was up 0.04% on the day at 1.0816.  ECB FAQs The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and…

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…