By Kevin Buckland and Sruthi Shankar (Reuters) – The Japanese yen firmed against the dollar on Wednesday as investors scurried to safer assets after a sharp sell-off on Wall Street in the prior session sparked by concerns about the U.S. economy and tech sector valuations. The catalyst was ostensibly some soft U.S. manufacturing data, which…
The Amazing Trader Story My name is Jay Meisler, veteran forex trader, creator of The Amazing Trader and here is my story. The Amazing Trader Story As a bank trader, fund manager and independent trader, I have always displayed an uncanny ability to identify key support and resistance levels. So, one day I wondered…
USDAs expected, a rebound in yesterday’s ISM manufacturing figures helped the broad dollar to close out trading up on the day. Significantly, the employment sub-index climbed from 43.4 to 46.0 to leave last month’s collapse in the reading looking distinctly idiosyncratic. However, it is yesterday’s grim session for equities that will likely capture the attention…
The Canadian dollar is showing limited movement on Wednesday. In the European session, USD/CAD is trading at 1.3555 at the time of writing, down 0.08%. BoC expected to cut for third consecutive time All eyes are on the Bank of Canada, which will announce its rate decision later today. The BoC is expected to lower…
Traders Workshop – For Real Success – You Need To Learn From The Best! Complete Trading School by Vladimir Ribakov Hi Traders! NASDAQ short-term forecast and technical analysis is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting, useful tips and hacks about the MT4 platform could be found here. If you…
WTI crude oil 15-minute chart Reuters is out with the headline, citing three OPEC+ sources in saying that the bloc is discussing a delay to its planned output hike in October. It looks like they are finally not being stubborn about it but it took oil prices falling to its lowest levels this year for…
2024.09.04 2024.09.04 Loonie’s Strong Rally May Reverse. Forecast as of 04.09.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ A capital spillover from the US dollar to its Canadian counterpart amid a decelerating US economy and expectations of the Fed’s monetary expansion dragged USDCAD quotes down. However, the loonie will have to pay the price for its August rally in September….
The Australian Dollar’s (AUD) double-top bearish reversal gets underway, OCBC FX strategists Frances Cheung and Christopher Wong note. Further downside towards 0.6640 is possible “Pair was last at 0.6715 levels. Bullish momentum on daily chart faded while RSI fell. Recent pullback may have found an interim support at 0.67 (21 DMA). Decisive break may open…
Analyzing the oil market on the XBR/USD chart from August 26, when Brent crude was trading around $79 per barrel, we observed the following: → The price was forming a descending channel (shown in red) and approaching its upper boundary, which could act as resistance.→ We identified a key support level (shown in yellow).→ We…
Spot trading is a fundamental method of buying and selling financial instruments for immediate delivery at the current market price. This article delves into the key aspects of spot trading, comparing it to other trading methods and explaining its significance for traders. Spot Trading: An Overview So, what is spot trading? Spot trading refers to…