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Archives by Year:
AUD/USD Forecast: Markets Reflect On Powell’s Cautious Remarks
Monday’s AUD/USD forecast has a subtle bearish tone as the dollar tries to recover after declining due to cautious remarks from Federal Reserve Chair Jerome Powell. On Friday, Powell affirmed that US monetary policy was slowing the economy as anticipated, with the benchmark overnight interest rate residing “well into restrictive territory.” Consequently, markets adjusted, indicating […]
Analytical Overview Of The Main Currency Pairs – Monday, Dec. 4
Image Source: Unsplash The EUR/USD currency pairTechnical indicators of the currency pair: Prev Open: 1.0886 Prev Close: 1.0881 % chg. over the last day: +0.05 % The ISM manufacturing index in the US for November contracted more than expected, which is a dovish factor for the Fed’s policy. Meanwhile, dollar losses accelerated on Friday after US Fed Chairman Jerome […]
Catching The Bull By The Horns: Bitcoin’s Remarkable Rally Beyond $40k
Bitcoin has recently soared past the significant milestone of $40,000 for the first time since April 2022, marking a notable rebound from earlier valuations. This surge has been accompanied by a robust increase in Bitcoin’s market capitalization, surpassing $800 billion, briefly eclipsing the market value of Berkshire Hathaway. The cryptocurrency’s year-to-date performance has seen an […]
The S&P 500 Rises To Its Highest Point Of 2023 As Gloomier Outlook Puts 2024 Rate Cuts In View
The S&P 500 (Index: SPX) rose nearly 0.8% to close at 4594.63 on Friday, 1 December 2023. That’s the highest close the index has reached during 2023, putting it just 4.2% below its all-time record high close of 4,796.56 from 3 January 2022.Since the late October 2023 spike in long-term U.S. Treasury yields, stock prices have risen as […]
USD/CAD Weekly Forecast: US Inflation Data Weakens Dollar
The USD/CAD weekly forecast predicts a bearish trajectory, with recent US data signaling a potential conclusion to Fed rate hikes. This narrative suggests a probable extension of dollar weakness. Ups and downs of USD/CAD The loonie had a bearish week characterized by dollar weakness and Canadian dollar strength. The dollar fell last week as economic data supported […]
Oil Falls Below $73.00, Natural Gas Tests The $2.50 Level
FreepikOil chart analysisDuring the Asian trading session, oil prices continued to slide below the $75.00 level. We are currently below the $73.00 level in a bearish consolidation and expect to see a continuation to the bearish side, looking for support at lower levels. Potential lower targets are $72.50 and $72.00 levels. The previous low price […]
Gold Market Commentary – Monday, Dec. 4
Image Source: Unsplash Volatile Price ActionIt’s been a wild start to the week for the gold market today. Gold futures surged higher by more than 4.3% over the Asian session, hitting fresh all-time highs of around $2145 before reversing sharply lower, now back in the red on the session. The move follows a solid rally on […]
AbbVie’s Big Buy Of ImmunoGen Opens Doors For Potential Investment Gains
In some major news dropped on Thursday, AbbVie, the big pharmaceutical player, has announced plans to snatch up ImmunoGen, a drugmaker, for a whopping $10.1 billion. This move is a game-changer for AbbVie, as it brings a promising ovarian cancer drug, Elahere, into their lineup of treatments for cancer. So, what’s the big deal?Well, Elahere got […]
Bitcoin Crosses The $41k Level, $71m In Short Positions Liquidated
In a remarkable turn of events, Bitcoin price has soared past the $41,000 mark, triggering a cascade of liquidations and stirring excitement in the cryptocurrency market.The BTC surge is not merely a price movement; it’s a convergence of factors ranging from institutional adoption and influential endorsements to anticipating a spot Bitcoin ETF. Bitcoin liquidations surge: $80M wiped out in […]
Elliott Wave Technical Analysis 4 Hour Chart: Australian Dollar/Japanese Yen – Monday, Dec. 4
Image Source: Pixabay AUDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, 4 December 2023Australian Dollar/Japanese Yen(AUDJPY) 4 Hour ChartAUDJPY Elliott Wave Technical AnalysisFunction: Counter TrendMode: Corrective Structure: purple wave 4 of CPosition: Zof BDirection Next Higher Degrees: purple wave 5 of C Details: purple wave 4 is in play as sideways (triangle) , Wave Cancel […]
