Author: FX

Fundamental OverviewIn recent days, gold has been making new highs despite the lack of bullish catalysts and the rise in real yields. Nonetheless, we’ve been seeing some quick selloffs at the highs in a potential sign that real yields are starting to bite, and we might be near a bigger pullback. Today, we get the Flash US PMIs and if the data is strong, we might finally see a decent correction lower. In the bigger picture, gold remains in a bullish trend as real yields will likely continue to fall amid the Fed’s easing cycle. The pullbacks will likely be…

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/AUD pair within the H1 timeframe. I’ve shared a trade setup image for your…

The Indian Rupee trades within a tight range of 84.00-84.10. Indian PM Modi and Chinese President Xi Jinping agreed to enhance communication and cooperation during the BRICS summit on Wednesday. India’s HSBC Composite PMI increased to 58.6 in October due to expansions in both the manufacturing and services sectors. The Indian Rupee (INR) steadies against the US Dollar (USD) on Thursday, with the USD/INR pair hovering within the 84.00-84.10 range. Market interventions by the Reserve Bank of India (RBI) helped limit downside risks for the INR, despite continued outflows from Indian equities. India’s HSBC Composite Purchasing Managers Index (PMI) increased…

WTI crude oil bulls seem ready to charge once again, as the energy commodity found support at the bottom of a newly-forming triangle pattern. Can it go further north from here? Here are the upside targets I’m seeing on the 4-hour time frame: WTI Crude Oil (USOIL) Chart by TradingView Is crude oil done with its slump? After losing ground on easing global supply concerns over the past few days, the energy commodity appears to be getting back on its feet as persistent geopolitical tensions in the Middle East are still leading to oil production woes. This allowed price to…

The major assets were all over the charts on Wednesday. U.S. Treasury yields continued to rise, boosting the U.S. dollar higher and dragging gold prices lower. Risk assets like equities and bitcoin weakened, while crude oil prices failed to make new weekly highs. Which catalysts moved the major assets around yesterday? Let’s discuss: Headlines: BOC Cuts Rates by 50bps, Now Aims to Stick the Landing on Inflation Control ECB President Lagarde said she’s “satisfied” with the inflation progress, but warned that they need to be “cautious” and look to data for future decisions Euro Area consumer confidence for October: -13…

As projected in our Event Guide, the Bank of Canada (BOC) cut its overnight interest rates by 50 basis points from 4.25% to 3.75% in October. This marked its fourth consecutive rate cut since June. In its statement, the central bank cheered the inflation hitting the 2% target and the measures of core inflation falling below 2.5%. BOC expects consumer prices to “remain close to the target” with upward and downward pressures roughly balancing out. The labor market remains a concern, as population continued to grow amidst a modest hiring environment while wage growth remains elevated relative to productivity growth.…

Missed this triangle breakout on AUD/JPY? The pair could still be in for a quick pullback before gaining traction on its climb! Or is momentum already fading? Either way, check out these inflection points I’m watching on the hourly chart: AUD/JPY 1-hour Forex Chart by TradingView A combo of strong Australian economic data and inaction from Japanese monetary authorities (so far!) allowed AUD/JPY to bust above its symmetrical triangle consolidation pattern lately. However, some risk-off vibes also kept the pair’s gains in check near R2 (101.74), forcing price to retreat to the 38.2% Fibonacci retracement level which appears to have…

Japan’s Deputy Chief Cabinet Secretary Kazuhiko Aoki has not shifted USD/JPY much at all with his comments: No comment on FX levelsDesirable for currencies to move stably reflecting economic fundamentalsClosely watching FX moves with a sense of urgencyGovt watching forex moves closely including for speculative moves This article was written by Eamonn Sheridan at www.forexlive.com. Source link

The Heiken Ashi Histogram and MTF MA Forex Trading Strategy stands out as a powerful tool in the trader’s arsenal, combining simplicity with precision. The Heiken Ashi Histogram is known for its ability to smooth out price fluctuations, offering a clearer view of the market’s underlying trend. By filtering out the noise from daily price movements, this indicator helps traders easily identify the direction of the trend and potential reversals, making it an invaluable asset for maintaining focus on the broader market direction rather than getting caught up in short-term volatility. When paired with Multi-Timeframe Moving Averages (MTF MA), the…

The CCI Channel, a technical analysis tool designed for the MetaTrader 4 (MT4) platform, is a derivative of the widely-used Commodity Channel Index (CCI) indicator. The CCI itself measures the current price level’s deviation from its historical average, providing valuable clues about potential overbought or oversold conditions in the market. The CCI Channel takes things a step further by incorporating Donchian Channels, which establish volatility bands based on recent price highs and lows. By combining these elements, the CCI Channel offers a comprehensive view of price movement relative to both its average and recent volatility. Brief History of the CCI…