USD/ZAR: South African rand poised for strength as BofA sees parallels to 2003 rally

On Wednesday, the EUR/USD pair experienced some movements, finding support above 1.0905 and encountering resistance below 1.0940. This suggests that after a short-term rise, the EUR/USD might continue its downward trend. Key Levels to Watch Resistance Levels: Immediate resistance: 1.0940 Important resistance: 1.0965 Support Levels: Short-term support: 1.0900 Significant support: 1.0870 Potential Scenarios Bearish Scenario:…

(Reuters) -General Motors will lay off 1,695 workers at its Fairfax Assembly plant in Kansas, the company said in a Worker Adjustment and Retraining Notification notice earlier this week. A GM spokesperson, confirming the layoffs initially reported by Automotive News, said the first of two rounds will begin on Nov. 18, affecting 686 full-time workers…

The Break and Retest MT5 Indicator addresses this specific timing problem. Instead of chasing breakouts the moment they occur, this tool waits for price to return and confirm the broken level as new support or resistance. That retest moment—when buyers or sellers prove they’re serious about defending the flipped level—often provides cleaner entries with tighter…

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The European Central Bank kept its key interest rates on hold during its October meeting, maintaining the deposit facility rate at 2.00% as inflation remains close to the central bank’s 2% medium-term target. Although policymakers noted that the eurozone economy continues to demonstrate resilience, they also warned that global trade tensions and geopolitical risks are…

If you needed a reminder that forex trading is never just about one thing, last week delivered it emphatically. Six major central bank decisions landed within days of each other, February PPI scorched expectations at 0.7% month-over-month, and the Iran war continued reshaping global energy markets — with WTI briefly tagging $100 before retreating on…