The Mexican Peso halts its march lower after strong economic data from the US, its largest trading partner. China data tempers slowdown fears and also supports emerging market FX, including the MXN. USD/MXN stalls, forms a Shooting Star candlestick pattern and reverses. The Mexican Peso (MXN) trades higher in its most heavily-traded pairs on Friday…
To trade or not to trade? Trading from home and having more time to watch the charts and market headlines doesn’t necessarily mean you have to take more setups. For most traders, even seasoned professionals, this is easier said than done. After all, forex price action can often be fast-paced and exciting, and the idea…
2024.10.18 2024.10.18 WTI Crude Oil: Elliott wave analysis and forecast for 18.10.24 – 25.10.24 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 75.67 with a target of 61.50 – 53.60. A sell signal: if the price holds below 75.67. Stop…
The Australian dollar is up for a second straight day on Friday. In the European session, AUD/USD is trading at 0.6712, up 0.24%. The Aussie is having a miserable October, having lost 2.9%. Australian employment change soars Australian job growth sparkled in September with a gain of 64.1 thousand. This was higher than the revised…
2024.10.18 2024.10.18 USD/JPY: Elliott wave analysis and forecast for 18.10.24 – 25.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: after the correction ends, consider short positions below the level of 151.54 with a target of 138.08 – 131.25. A sell signal: if the price holds below 151.54. Stop…
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2024.10.18 2024.10.18 GBP/USD: Elliott wave analysis and forecast for 18.10.24 – 25.10.24 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ The article covers the following subjects: Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2920 with a target of 1.3600 – 1.3800. A buy signal: if the price holds above 1.2920. Stop Loss: below…
The euro can’t find its footing and has tumbled 2.7% in October. EUR/USD has stabilized on Friday and is trading at 1.0835 in the European session, up 0.05%. On Thursday, the euro dropped as low as 1.0810, its lowest level since August 2. ECB cuts key rate to 3.25% The European Central Bank didn’t surprise…
2024.10.18 2024.10.18 Loonie loses against the US dollar. Forecast as of 18.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The USDCAD‘s best winning streak since 2017 has not met the Reuters experts’ forecasts, predicting the strengthening of the loonie. This was due to the Bank of Canada’s intention to bring the rate to a neutral level as soon as possible….
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