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Archives by Year:
AUD/USD Forex Signal: Bearish Flag Pattern Points To More Downside
Bearish view Sell the AUD/USD pair and set a take-profit at 0.6550. Add a stop-loss at 0.6650. Timeline: 1-2 days. Bullish view Set a buy-stop at 0.6600 and a take-profit at 0.6650. Add a stop-loss at 0.6550. The AUD/USD pair crawled back slightly as the US dollar index (DXY) retreated slightly ahead of the Federal Reserve decision […]
Crypto execs court Labour as UK election looms
UK Prime Minister Rishi Sunak recently announced a snap election, placing the country’s political situation into uncertainty and turmoil. In response, crypto executives have turned to the competition to gather support and lobby for clearer crypto regulation.According to a report from Bloomberg, two nights prior to Sunak’s announcement, crypto executives gathered on a House of […]
Rates Spark: Nervousness Ahead Of US CPI
Political uncertainty continues to drive Eurozone bond spreads, including a more noticeable nudge wider in Bund asset swap spreads. The key to overall rates direction still lies in US data and what the Fed makes of it. A US CPI at consensus today, together with a potentially hawkish Fed, would support a bearish bias. Risk-off in […]
Today, The Focus Is On The FOMC Meeting
Image source: Pixabay At Tuesday’s close, the Dow Jones Index (US30) decreased by 0.31%, while the S&P 500 Index (US500) added 0.27%. The Nasdaq Technology Index (US100) closed positive 0.88%. Weakness in bank stocks weighed on the Dow Jones Industrials after Pimco said it expects more bank failures of regional banks in the US due to a “very high” concentration of troubled commercial […]
GDP, GDO, GDP+
All have a positive gradient in Q1. Figure 1: GDP (bold black), GDO (tan), and GDP+ (sky blue), all in bn.Ch.2017$ SAAR. GDP, GDO based on 2nd release. Small % at right are Q1 SAAR growth rates. Source: BEA, Philadelphia Fed, author’s calculations.Note that GDO for 2023Q4 is revised down, while my estimate for GDO for 2024Q1was […]
Gold Trading Strategy Today – Wednesday, June 12
Image Source: Pixabay Today you will see gold price prediction based on the technical analysis. What is the support and resistance on the daily time frame for XAUUSD? What to expect where the price will breakout for the XAUUSD based on the supply and demand zones.Video Length: 00:03:17More By This Author:Gold Trading Strategy Today – Tuesday, […]
Nvidia’s Stock Price Prediction: Can It Hit $150?
On June 11, 2024, Oppenheimer raised its price target on NVIDIA Corp (NASDAQ:NVDA) stock from $110 to $150 following the recent 10-for-1 stock split. This move highlights the growing confidence in NVIDIA’s future prospects, especially as the company continues to lead in the AI sector.Oppenheimer’s analysts, led by Rick Schafer, cited the stock split and updated their […]
Elliott Wave Technical Analysis: Euro/U.S. Dollar – Wednesday, June 12
Image Source: Pixabay EURUSD Elliott Wave Analysis Trading Lounge 4 Hour Chart,Euro/U.S.Dollar (EURUSD) 4 Hour ChartEURUSD Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: correctiveSTRUCTURE: orange wave CPOSITION:Navy blue wave 2DIRECTION NEXT HIGHER DEGREES: Navy blue wave 3DETAILS: orange wave C of 2 still is in play, after that navy blue wave 3 will start.Wave Cancel invalid level: 1.05995 […]
Gold Market Commentary – Wednesday, June 12
Gold Traders Brace for FireworksGold prices are trading just above key support as traders brace for major volatility ahead of today’s US CPI report and June FOMC. On the back of stronger-than-forecast US jobs data last week (both NFP and wages topped forecasts), we’ve seen a sharp downturn in pricing for a September rate cut. […]
UK Growth Outlook Is Brighter Despite Unexciting April Data
It may be hard to pick out much in the way of a trend from the UK GDP figures right now at an industry level, but the economy does seem to have built up steam so far this year. We expect 0.4-0.5% GDP growth in the second quarter.Another month, another welcome upside surprise to UK […]
