Author: FX
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…
The tech-heavy Nasdaq 100 ETF (QQQ) finds itself at a critical technical juncture just as tech giants prepare to release earnings! Will strong tech earnings fuel a sustained breakout above the rising wedge, or could any disappointments trigger a pullback to test buyer commitment? Check out these inflection points I’m watching on the 4-hour time frame: Nasdaq 100 ETF (QQQ) 4-hour Chart by TradingView The QQQ has been constructing a well-defined rising wedge pattern since August, with price action now testing a critical technical zone around the previous swing high around $505. This comes at a pivotal time as market…
US Dollar Index falls due to profit-taking, still trades above 104.00. Economists predict 3.0% growth for US Q3 GDP, which might continue favoring the USD. ISM Manufacturing PMI is expected to climb four points to 47.6, while the labor market is expected to show poor results for October. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, declined on Monday. Thisreversed earlier gains amid profit-taking ahead of key economic figures from October to be released later this week. Despite a robust economy, the US Dollar faces headwinds. DXY breached its 200-day…
The USDCAD is consolidating after reaching new highs going back to August 5. In trading today, the high price extended to 1.39057. The low price extended to 1.38813. That’s only a a narrow 24 – 25 trading range. That is well below the month-long trading range of 55 pips. There is room to roam but the market is being confined at the moment.Having said that, there are two support levels that I am watching. The first is at 1.3888. The price has traded above and below that level in trading today but is currently back above. The other level of…
EUR/USD moves higher as investors focus on a slew of economic data from both the US and the Eurozone. The German economy is expected to have contracted by 0.3% in the third quarter on an annual basis, while the Eurozone as a whole is seen growing by 0.8% YoY. Risk-aversion could stay afloat amid uncertainty over the US presidential election. EUR/USD rises slightly above 1.0800 in North American trading hours on Monday. The major currency pair broadly remains sideways ahead of a data-packed week in which traders will get economic growth and inflation data for both the United States (US) and…
The week begins quietly on Monday, with no major economic events scheduled for the FX market. Be mindful of the daylight saving time shift in Europe, which may affect trading schedules. Bank of Canada Governor Tiff Macklem will speak at a fireside chat about the Canadian economy at The Logic Summit in Toronto on Monday. There is no media availability for this event, but he is expected to reiterate his recent public statements. On Tuesday, U.S. economic releases will include the CB consumer confidence index and JOLTS job openings. Wednesday will bring Australia’s inflation data, while in the U.S., releases…
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 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 Flip 55 strategy has identified a trading opportunity on the EUR/GBP pair within the H1 timeframe. I’ve shared a trade setup image for your…
NZD/USD has marked the three-month low at 0.5957 on Monday. The US Dollar appreciates due to market caution ahead of the upcoming US presidential election. The RBNZ is widely anticipated to deliver another 50-basis-point rate cut in November. NZD/USD trims its daily losses, trading around 0.5970 during the European hours on Monday. The US Dollar (USD) receives support due to market caution ahead of the upcoming US presidential election in November. Over the past three weeks, allies of former President Donald Trump have faced at least 10 court defeats in key battleground states that could impact the outcome of the…
jetcityimage/iStock Editorial via Getty Images Eli Lilly (NYSE:LLY) received approval from the Hong Kong government to launch its weight-loss drug—Mounjaro, with sales expected to begin as early as year-end, Bloomberg reported. The company got approval to sell its tirzepatide injections—branded as Mounjaro—in a device called Kwikpen. Mounjaro is Source link
By Alberto Chiumento and Paolo Laudani (Reuters) – The rise of online shopping has led to swathes of store closures, casting doubt over the future of retail malls and high streets, but in Europe there are signs that shops are back in vogue and are important for helping to drive online sales. European retailers are investing in physical shops to stimulate both online and offline sales as they face increasing competition from giant e-commerce companies, such as fast-fashion group Shein. They also want to capitalise on people’s renewed appetite for visiting shops once COVID-19 lockdowns ended, which has made a…