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AUD/USD forecast remains up as the pair climbs near 0.6630 amid stronger-than-expected Australian CPI data. The Fed remains cautious on rate cuts, with Powell stressing inflation risks, while Bowman advocates for faster easing to protect the labor market. The RBA is seen as more hawkish than the Fed, with Barclays forecasting the AUD/USD to break…
What Is 52-Week High and Low, and How Can You Trade It
The 52-week high and low are crucial metrics in stock trading, providing insights into a stock’s performance over the past year. These levels offer valuable guidance on potential breakouts and reversals. In this FXOpen article, we’ll explore their importance for determining reversals and breakouts and examine this with a couple of examples. Understanding 52-Week High…
Zigzag Formation in Progress – Forex Market Analysis – ForexCycle.com
Hello fellow traders, In this technical article, we are going to present Elliott Wave charts of AUDJPY Forex pair . As our members know, the pair is showing a 3-wave pullback against the 96.23 low, taking the form of an Elliott Wave Zigzag structure.In the following sections, we will explain the Elliott Wave pattern and…
EUR/USD: Fresh Recovery Needs to Close Above Daily Cloud to Brighten Near-Term Outlook – Action Forex
The Euro edged higher on Wednesday morning, underpinned by weaker dollar on the latest remarks from Fed chief Powell which markets saw as more dovish and contributing to strong expectations for two rate cuts by the end of the year. Fresh gains penetrated daily cloud (spanned between 1.1610 and 1.1686) and attempt to break above…
When Is It Okay to Trade Against The Trend?
Some days, most forex pairs are just going in one particular direction, and it makes no sense to go against the herd. However, if you’re a fan of picking tops or bottoms and if you think that these strong trends are already exhausted, you shouldn’t be afraid to take a contrarian approach to your forex…
Gold Price resumes rally as concerns grow over Trump’s tariff plans
Gold price edges higher in Friday’s Asian session. Trade war fears and lower US bond yields support the precious metal. Investors brace for the US January Retail Sales data, which is due later on Friday. Gold price (XAU/USD) extends its upside during the Asian trading hours on Friday. The growing concerns about US President Donald…
