Most of the fundamentals surrounding the greenback aren’t delivering significant momentum to price movement in the USDCAD market. The NAHB housing data arrives lower than expected. Other available fundamentals are also not encouraging USD bulls. This gives the pair a generally depressed outlook, even as market participants anticipate the US Pre-Market Open tomorrow. Key Price…
The most recent rebound off the technical support at the 168.00 threshold seems to have placed the EURJPY market on a path toward the 171.00 threshold. Technical indicators are also positively aligned at the moment, suggesting the move could get stronger as trading continues. Key Price Levels:Resistance Levels: 170.00, 172.00, and 174.00Support Levels: 168.00, 166.00,…
Recently held European Parliament Elections , that led to new French Elections ( An early legislative election is expected to be held in France in two rounds on 30 June and 7 July 2024, to elect the 577 members of the 17th National Assembly of the Fifth French Republic. ) are not going to change anything…
French Election: How to Trade in a Political Market Geopolitical and political events can unnerve markets. While they are different animals, markets often react in the same way. From a trader’s perspective, the question is how to trade during these times. What they both have in common is that markets hate uncertainty. This is why…
Trading Strategy Using Order Blocks 1. Confirm the Trend Higher Timeframe (HTF) Analysis: Start by identifying the trend direction using a higher timeframe. This could be daily or 4-hourly charts, depending on your preference and trading style. Determine whether the trend is bullish or bearish. 2. Identify Order Blocks (OB) Higher Timeframe Order Block (HTF OB): Look…
Goofy – Forex trading advisor based on Elliott wave theory including the system – 7thlab – WAVE THEORY. 7thlab – WAVE THEORY is an automated system that helps traders analyze the market and make trading decisions without personal intervention. To do this, the advisor uses Elliott Wave Theory to determine entry and exit points for…
EUR/USD: Hawkish Sentiments of the Fed ● As expected, the key day of last week was Wednesday, 12 June. After the publication of inflation data in the USA, the dollar came under strong pressure. Fresh figures showed that in May, the overall inflation rate (CPI) in annual terms decreased to 3.3% compared to the expected…
Market bubbles have long fascinated and perplexed economists and investors alike. These phenomena, where asset prices inflate rapidly and exceed their intrinsic values, illustrate financial market volatility. Delving into the history and mechanics of market bubbles reveals recurring themes. These themes significantly impact economies. Market bubbles are often driven by speculative manias and a psychological…
A bear market signifies a period where stock prices fall by at least 20 percent from recent highs, indicating widespread pessimism and negative investor sentiment. Understanding the dynamics of a bear market is crucial for any investor aiming to navigate through these challenging economic waters. In this comprehensive guide, we will delve into effective bear…
EURUSD Analysis – Buyers Plan to Take Over EURUSD loses buy string down to 1.07250 significant level. The market has experienced a significant downturn, posing a threat to buyers. This indicates a weakening euro compared to the US dollar. Despite attempts by buyers to push the price above 1.09800, the sellers have exerted pressure, leading…