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Archives by Year:
The Dollar Remains Mostly Softer But Near-Term Consolidation Is Likely
Image via Marc to Market Overview: The US dollar, which was sold last week after the FOMC and soft employment report, remains on the defensive today. The Antipodean currencies and yen are struggling, but the other G10 currencies are firm. The dollar is also lower against most emerging market currencies. Still, given the magnitude of the dollar’s […]
Gold Market Commentary – Monday, November 6
Risk-On Hurting GoldGold prices are trading a little lower on Monday as we kick of the week with a positive risk tone. Despite the ongoing conflict in Gaza, traders have been buoyed by Friday’s set of weaker-than-forecast US jobs numbers. The headline NFP printed 150k, down from 297k prior and below the 178k the market […]
Emerging Markets Show A Completed Correction Within Uptrend
FreepikEmerging markets chart with ticker EEM has been trading slow and sideways for the last year, mainly because of weak China stocks. But, we have been warning about a corrective a-b-c movement with nice support at 61,8% Fibo. retracement and 36-35 area in the past months.Check our EEM vs. USD Video Analysis From August 21 below: […]
Oil And Natural Gas: Oil Again At $80.00 On Friday
Oil chart analysisOn Friday, we saw a new drop in oil prices to $80.00. During the previous Asian trading session, the oil price was in bullish consolidation up to $82.00. For now, we encounter resistance in that zone and see a pullback to the $81.65 level.We remain in this bullish consolidation, hoping to see a break […]
AUD/USD Forex Signal: Inverted H&S Pattern Forms On The Weekly Chart
The next important AUD/USD news will be the upcoming meeting by the Reserve Bank of Australia (RBA). Bullish view Buy the AUD/USD pair and set a take-profit at 0.6600. Add a stop-loss at 0.6415. Timeline: 1-2 days. Bearish view Set a sell-stop at 0.6500 and a take-profit at 0.6400. Add a stop-loss at 0.6600. The Australian dollar surged to its […]
Elliott Wave Technical Analysis: Pepsi Co. Inc Monday, November 6
Pepsico Inc., Elliott Wave Technical AnalysisPepsico Inc.,(PEP): 4h Chart, 6 November 23PEP Stock Market Analysis: We have been looking for downside into wave {v} as we seem to have an incomplete bearish move. We have gone past 38.2% retracement of wave {iii}. Invalidation stands at 175$.PEP Elliott Wave Count: Wave {iv} of 3. PEP Technical Indicators: In between […]
The S&P 500’s Market Regime Reestablishes Itself
It was just a week ago that we were looking at the serious prospect of a change in market regime for the S&P 500 (Index: SPX). But now, we have strong evidence the market regime that’s been in place since 9 March 2023 has reestablished itself. Because it has, the index rose 5.85% over the past week, closing […]
Forex Today: RBA Expected To Hike Rate Later To 4.35%
Freepik There will be a release tomorrow of the Reserve Bank of Australia’s Cash Rate and Rate Statement, with markets expecting a 25bps hike to 4.35%. Governor Ueda of the Bank of Japan gave a speech a few hours ago in which he stated that he sees the Japanese economy as recovering moderately. This optimism […]
Silver Price Analysis: XAG/USD Flirts With 200-Day SMA Hurdle Near $23.20-25 Region
Silver (XAG/USD) reverses an intraday dip to the $23.10 area and climbs to the top end of its daily trading range during the first half of the European session on Monday. Bulls still await a sustained strength beyond the very important 200-day Simple Moving Average (SMA) before placing fresh bets.Any subsequent move up, however, is more […]
Analytical Overview Of The Main Currency Pairs – Monday, November 6
The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0619 Prev Close: 1.0727 % chg. over the last day: +1.02 % The US unemployment report released on Friday showed weaker-than-expected labor market dynamics. Nonfarm payroll data for October showed that the economy added fewer jobs than expected (150k vs. 180k). In addition, the unemployment rate rose slightly […]
