Author: FX
Mexican Peso falls to a six-week low as former President Trump leads US election polls, threatening a 200% tariff on Mexican cars. Fears of a constitutional crisis in Mexico intensify after President Sheinbaum defies a court ruling to remove a judicial reform decree. Investors shift focus to upcoming economic data from both Mexico and the US with Retail Sales and inflation figures in the spotlight. The Mexican Peso plunges more than 0.90% against the US Dollar amid a risk-off impulse and increasing odds that former President Donald Trump leads the polls. Rising fears of a constitutional crisis in Mexico weighed…
The USD is moving higher. Looking at the dollar index (DXY) the price is testing the 200 day MA at 103.79. The price moved above that level on Friday reaching a high of 103.88, before failing and rotating lower. The high has just extended to 103.803. Get and stay above to 200 day MA, and the door opens for more upside momentum. On the top side, the 61.8% retracement of the move down from the 2024 high to the 2024 low comes in at 104.074. That would be the next key target.Meanwhile, the EURUSD is trading to a new low…
The US Dollar trades mildly up as the possible escalation in the Middle East conflict drives flows towards the Greenback. Fed speakers are starting to align with market expectations for gradual to no rate cuts this year. The US Dollar Index rally could pick up steam if Donald Trump leads further in the polls. The US Dollar (USD) is a little bit in favor this Monday as three main factors provide some support for the Greenback. The first one is geopolitics, with Israel’s Prime Minister Benjamin Netanyahu vowing to step up retaliations after an Iranian drone struck near his private…
Imagine having a GOOD trade idea. You know the one. It may come from a mentor, a social media whiz, or a premium signal group. It may even be the result of hours of analysis. The signs seem to line up, and you’re confident you’ve got the discipline needed to pull off your trading plan. You take the trade and you execute it to the best of your abilities. You lose the trade. WHAT’S UP WITH THAT?! Here are common trading rules you may have missed that killed your “good” trade idea: 1. Make pre-trade preparations Like in any high-performance…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward 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 EUR/GBP pair within the H1 timeframe. I’ve shared a trade setup image for your…
The ranges for the day aren’t overly interesting but the dollar is seen holding a slight edge in European morning trade. It comes as Treasury yields are pushing higher as well, allowing for some light action on the session. USD/JPY is now marked up by 0.3% to 149.95 from a low of 149.10 in Asia earlier in the day.USD/JPY daily chartIn the bigger picture, USD/JPY remains pinned closer to the 150.00 mark and that remains a key level to watch. There is also key resistance closer to the 50.0 Fib retracement level and the 100-day moving average (red line) near…
AUD/JPY remains tepid due to a potential for forex intervention by the Japanese authorities. The Japanese Yen faced challenges due to uncertainty surrounding the BoJ policy outlook. The Australian Dollar may appreciate as a solid labor report has reduced the odds of RBA’s rate cuts this year. The AUD/JPY pair continues to edge lower for the second consecutive session, trading near 100.20 during European trading hours on Monday. The Japanese Yen (JPY) may have gained some support from the possibility of currency intervention by Japanese authorities. However, uncertainty surrounding the timing and pace of future rate hikes by the Bank of…
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This euro pair is hanging out at the very top of its range on the 4-hour time frame, still deciding whether to go for a bounce or a break. Check out these inflection points on my radar! EUR/JPY 4-hour Forex Chart by TradingView After zooming up early this month, EUR/JPY got stuck in consolidation right below the 163.50 minor psychological mark. As it turns out, this happens to be the very top of its longer-term range that had been holding since mid-September. So will it continue to keep gains in check? Remember that directional biases and volatility conditions in market…
UBS raised its 2024 and 2025 GDP growth forecasts for China, citing faster-than-expected GDP growth in 3Q, and recent government policy support announcementsForecasts now:GDP growth for 4Q to rise to 6.5% q/qGDP growth for 4Q to rise to remain at 4.6% y/yFull-year 2024 real GDP growth raised to 4.8% (prior forecast 4.6%)2025 real GDP growth forecast to 4.5% (prior 4.0%) This article was written by Eamonn Sheridan at www.forexlive.com. Source link