Fundamental Overview This week has been pretty boring all around as the lack of catalysts kept the price action confined in a tight range. The market is waiting for the key economic releases next week as we will get the ISM PMIs and lots of US labour market data including the NFP report. As a…
The People’s Bank of China, the Chinese central bank, said in a statement released on Thursday that they will stick with a supportive monetary stance.” Additional takeaways Will step up counter-cyclical adjustments. Will strengthen financial support to the real economy. Will study new policy measures, strengthen coordination and cooperation of macro policies. Will support the…
On 26 August, we discussed the potential for a pullback after the rally to 1.12, noting:→ The fluctuations since April formed an ascending channel (indicated in blue, with support points marked by circles), and the price was near its upper boundary, where resistance was likely;→ The 1.12 level also showed signs of resistance – the…
Yesterday, after the close of the main trading session, Nvidia released its second-quarter earnings report: → Earnings per share: actual = $0.67, expected = $0.647;→ Revenue: $30.04 billion, expected = $28.737 billion;→ The company also announced a $50 billion share buyback. However, despite the strong results, Nvidia’s share price declined. While the closing price yesterday…
TrendGuard X3 Forex Indicator Forex trading is a dynamic and fast-paced market, requiring tools and strategies that can keep up with its fluctuations. The TrendGuard X3 Forex Indicator claims to be a game-changer, promising advanced algorithmic precision, customizable signals, and real-time alerts. But does it live up to the hype? In this review, we’ll delve…
USD: Consolidation or base-building? There is quite a popular view out there that with 100bp of Fed cuts priced by the end of this year and a terminal rate already priced at 3.00%, the dollar does not need to fall much further. Equally, however, we do not see the need for the dollar to rally…
2024.08.29 2024.08.29 Short-term Analysis for Oil, Gold, and EURUSD for 29.08.2024 Alex Rodiоnovhttps://www.litefinance.org/blog/authors/alex-rodionov/ I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. Yesterday, oil continued…
EUR/USD The euro has retreated from its previously reached highs. The 1.12000 level provided strong resistance to buyers, and after testing it twice, the price has corrected to 1.1100. This level has already offered support to the pair last week, so for now, we are seeing range-bound trading between 1.1200-1.1090. What scenarios could unfold in…
EUR/USD has broken below the rising price channel on the 4-hour chart and is now approaching the key support level at 1.1097. What’s Next? Consolidation Phase: As long as the price remains above the 1.1097 support level, the recent decline from 1.1201 can be viewed as a consolidation within the broader uptrend that began at…
Various chart patterns give an indication of possible market direction. A falling wedge is one such formation that indicates a possible bullish reversal. This FXOpen article will help you understand whether the falling wedge pattern is bullish or bearish, what its formation signifies about the market direction, and how it can be used to spot…