By Ankur Banerjee SINGAPORE (Reuters) -The dollar was soft on Thursday, with the euro perched near an eight-month high after data showed U.S. inflation was slowing, underpinning wagers that the Federal Reserve could lower borrowing costs next month. The yen was steady at 147.315 per dollar after data showed Japan’s economy expanded by a faster-than-expected…
Lucky Block Price Prediction – August 15 LBLOCKUSD price will go up and move higher as it remains open for bullish growth. The coin price will move above the current resistance level if buyers triple their efforts to forecast a bullish increase in the market above the $0.0000745 resistance level, which could expose the market…
Check out this new consolidation pattern on the 4-hour time frame of gold! Can the sideways price action keep going or are we about to see a breakout soon? Here are the nearby inflection points I’m watching closely: Gold (XAU/USD) 4-hour Chart by TradingView This precious metal has been forming higher lows since last month…
The labour market is weakening “but not weak” As price pressures ease, officials need to be conscious of their mandate of maintaining full employment The narrative now is that the Fed is slowly conforming to market expectations for a rate cut next month. I reckon Powell should reaffirm that at Jackson Hole next week. However,…
USD/CNH attracts some buyers on Thursday and moves away from over a one-week low. The technical setup supports prospects for the emergence of fresh selling at higher levels. A sustained strength beyond 50% Fibo. level is needed to negate the negative outlook. The USD/CNH pair builds on the previous day’s bounce from the 7.1305-7.1300 area,…
The AUD/USD pair is currently moving within a rising price channel on the 4-hour chart, indicating that the uptrend from 0.6349 remains intact. The recent pullback from 0.6642 appears to be a consolidation phase for this upward movement. Current Market Dynamics As long as the support within the channel holds, we can expect the bullish trend to continue. The…
The EUR/USD pair has recently broken above the resistance level of 1.1008, extending its upward movement from 1.0777 to a high of 1.1047. Following this rise, a pullback from 1.1047 suggests that the market is now consolidating, setting the stage for potential future movements. Current Market Outlook In the coming days, we can expect range trading between 1.0945 and 1.1047. As long…
The Australian Dollar recovers daily losses after the release of the moderate jobs data. The commodity-linked AUD faced challenges as reduced demand and a surplus of commodities put pressure on market prices. The US Dollar experienced losses following a moderate Consumer Price Index data released on Wednesday. The Australian Dollar (AUD) recovers its intraday losses…
A double bottom, also known as the W trading pattern, is a chart formation that is paired with a double top pattern. Both setups signal a trend reversal, but a double bottom appears only in a downtrend, while a double top is formed in an uptrend. Why do traders confuse the signals? Read the FXOpen…
The USD/JPY pair has been trading sideways within a range of 145.42 and 148.22 for several days. This consolidation phase presents important trading opportunities as we look ahead. Current Market Dynamics As long as the support level at 145.42 holds, this sideways movement can be interpreted as a consolidation for the uptrend that began at 141.68. A breakout above the resistance at 148.22 could…