2024.11.01 2024.11.01 USDCHF: Elliott wave analysis and forecast for 01.11.24 – 08.11.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider short positions from corrections below the level of 0.8700 with a target of 0.8200 – 0.8000. A sell signal: if the price holds below 0.8700. Stop Loss: above…
GBP/USD has broken below a long-term ascending trendline, signaling potential further downside. UK budget concerns and a drop in manufacturing PMI have contributed to the Pound’s struggle. UK budget concerns and a drop in manufacturing PMI have contributed to the Pound’s struggle. Most Read: Apple (AAPL), Amazon (AMZN) Earnings Preview: AI Capital Spending and iPhone…
The Canadian dollar is showing little movement on Friday. In the European session, USD/CAD is trading at 1.3931 at the time of writing, down 0.02%. We could see some volatility from the Canadian dollar later in the day, with the release of the US employment report. US nonfarm payrolls expected to sink to 4-year low…
Alpha Group International plc confirmed Friday that Jayne-Anne Gadhia has officially assumed the role of Non-Executive Chairman, succeeding Clive Kahn. The transition follows the earlier announcement, which outlined Clive Kahn is set to take on the role of Chief Executive Officer on January 1, 2025, succeeding Morgan Tillbrook. In preparation for this transition, Kahn has…
The chart for the British FTSE 100 index (UK 100 on FXOpen) illustrates: → Indicated by the red arrow: Yesterday, the index fell below the 8100 level for the first time since early August, driven by bearish sentiment in the U.S. stock market following reports from Microsoft (MSFT) and Meta Platforms (META), as we noted…
Bearish reversal detected below 5,930 key medium-term resistance of the SPX 500. Market breadth indicator (% of component stocks above 20-day and 50-day moving averages) has deteriorated. The odds have increased for a medium-term corrective decline on the SPX 500 as the key US presidential election risk event looms on 5 November. This is a…
Hargreaves Lansdown (HL) announced Friday that the Turkish Competition Board has unconditionally approved the proposed acquisition of HL by Harp Bidco Limited, a company indirectly owned by CVC Capital Partners, Nordic Capital, and Platinum Equity. The approval is a step forward in the acquisition process. On August 9, 2024, Hargreaves Lansdown and the board of…
On Friday, online trading and investment provider CMC Markets announced a strategic partnership with ASB Bank, one of New Zealand’s largest banks. Under the terms of the agreement, CMC said it will provide ASB Bank with its market-leading technology and execution platform, enabling ASB to offer its customers an online trading platform, complete with access…
The Japanese yen is in negative territory on Friday after rising 0.89% a day earlier. In the European session, USD/JPY is trading at 152.82 at the time of writing, up 0.52% on the day. Markets brace for super-soft nonfarm payrolls The US releases the October employment report later today and the markets are bracing for…
Investing.com – The U.S. dollar edged higher Friday, continuing October’s strength, ahead of the release of the widely-watched payrolls report. At 05:35 ET (09:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 104.025, after gains of well over 2% last month. Dollar awaits payrolls release …