Market Analysis: NZDUSD Breaks Bullish Trend Line as Bearish Reversal Pattern Emerges The NZDUSD pair recently experienced a notable bullish rally, starting from the 0.58480 level, which pushed the price upwards and broke the significant 0.62470 resistance. As the bullish momentum continued, the pair targeted the 0.63840 level. However, upon reaching this zone, a significant…
2024.10.04 2024.10.04 Oil Breaks the Trend. Forecast as of 04.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Until October, sellers dominated the oil market amid a slowing global economy and rising production outside OPEC+. However, the escalation of conflict in the Middle East has changed the game rules. Let’s talk about it and make a trading plan for Brent. The…
The recent week of Japanese yen weakness is likely driven by “political jawboning” The current jump in the JPY implied volatility index has reached an overstretched condition that suggests a potential pause in the recent USD/JPY’s up move. A break below 143.60 intermediate support on the USD/JPY may trigger renew weakness. This is a follow-up…
US Non-Farm Payroll (NFP) data release is highly anticipated amidst shifting expectations of a Fed rate cut. Market predictions for the NFP report vary, with analysts split on expected figures. S&P 500 technical analysis reveals a bullish triangle pattern, will the bulls finish the week strong? Most Read: US Dollar Index (DXY) Extends Gains, BoE…
The USD/JPY chart shows that yesterday (3 October), the price slightly surpassed the 147.230 level, marking the highest point since 3 September. This is significant as it indicates a new swing high, identified by the ZigZag indicator (in purple), which hasn’t been seen in months. Bullish arguments for the USD/JPY chart today: → The price…
USDCAD returns above 20-day EMA and familiar constraining line Technical signals cannot warrant a meaningful rally September’s US nonfarm payrolls due at 12:30 GMT USDCAD continued its upward movement from a seven-month low of 1.3418, surpassing its 20-day exponential moving average (EMA) and the constraining ascending line from the 2021 low. The range of 1.3580-1.3620, which…
Financial services platform Marex Group plc announced this week that it has agreed to acquire Aarna Capital Limited, a provider of clearing, execution, and risk management solutions in the Middle East. The move is said to expand the company’s operations in the Middle East and grow its clearing business, aligning with its strategy to broaden…
Miami International Holdings (MIH) announced the renaming of its wholly-owned subsidiary, Minneapolis Grain Exchange (MGEX), to MIAX Futures Exchange. The rebranding of the exchange is said to align with MIH’s broader strategy to expand its futures offerings, leveraging the technology and expertise of MGEX. MIH said the flagship Hard Red Spring Wheat (HRSW) futures and…
Despite the S&P 500 index (US SPX 500 mini on FXOpen) rising roughly 20% since the start of 2024, Boeing (BA) shares are currently around the psychological level of $150 – a low last seen in autumn 2022. Several factors have driven bearish sentiment for Boeing in 2024: → Reputational setbacks due to technical issues,…
GBP/USD started a fresh decline from the 1.3425 resistance zone. EUR/GBP is rising and might climb above the 0.8435 resistance. Important Takeaways for GBP/USD and EUR/GBP Analysis Today · The British Pound is showing bearish signs below the 1.3250 support. · There is a key bearish trend line forming with resistance near 1.3170 on the…