Geopolitics Set to Shape Forex Markets This Week – Orbex Forex Trading Blog

2024.06.07 2024.06.07 WTI Crude Oil: Elliott wave analysis and forecast for 07.06.24 – 14.06.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 80.85 with a target of 63.77 – 55.00. Alternative scenario: breakout and consolidation above the level of 80.85 will allow the asset to continue rising to the levels…

As shown on the chart of Walmart (WMT) shares, trading closed yesterday above the $94 mark – a level not seen since the beginning of March. This means that since the start of 2025, Walmart’s share price has risen by approximately 5.5%. This positive trend stands in stark contrast to the S&P 500 index (US…

After slipping from 2.0300, EUR/NZD looks ready to retest key inflection points that could set the stage for another leg higher in its longer-term uptrend. Here’s what we’re seeing on the daily time frame! EUR/NZD Daily Forex Chart by TradingView The euro took a few punches last week as mixed data and rising Russia-Ukraine tensions…

Yesterday’s decision by the Bank of England came as a surprise to forex traders. While the Official Bank Rate was left unchanged at 3.75%, markets were caught off guard by the notably dovish signals regarding future policy. According to media reports, four out of nine Monetary Policy Committee members voted for an immediate rate cut….

EUR/USD’s pull back from 1.1200 extend lower last week. Initial bias stays neutral this week with risk of deeper decline. But still, rally from 1.0665 is in favor to continue as long as 1.0947 resistance turned support holds. Above 1.1139 minor resistance will bring retest of 1.1200 first. Break there will target 1.1274 high next….