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AUD/USD Forecast: Signal After The Australian GDP Shocker

AUD/USD Forecast: Signal After The Australian GDP Shocker

Image Source: Pixabay Australia has released a series of weak economic numbers. Its economic growth slowed down sharply in the first quarter. These numbers have diminished the odds of a rate hike by the RBA. The AUD/USD exchange rate wavered on Wednesday morning after a series of weak economic numbers from Australia. The pair was trading at 0.6660 […]
WTI Tests 4-Month Lows As API Reports Across The Board Inventory Builds

WTI Tests 4-Month Lows As API Reports Across The Board Inventory Builds

Photo by Timothy Newman on UnsplashOil prices plunged to four-month lows (WTI with a $72 handle, Brent below $80), smashing through all key technical levels, as algos were shocked into full-send mode as OPEC+ unexpectedly signaled plans to return some supplies to the market later in the year.CTAs have flipped to a net short position in Brent, compared with a […]
Upcoming House budget bill could restrict SEC’s funding for SAB 121

Upcoming House budget bill could restrict SEC’s funding for SAB 121

The House Appropriations Subcommittee on Financial Services and General Government, scheduled for 8:30 AM ET today, could prohibit the US Securities and Exchange Commission (SEC) from using allocated funds to implement SAB 121 and its climate disclosure rule, according to FOX Business journalist Eleanor Terrett.A policy rider that specifically prevents the SEC from using allocated […]
Australia: GDP Growth Slows Further

Australia: GDP Growth Slows Further

Image source: Pixabay 1Q24 GDP was weaker than expected  At just 0.1% QoQ, the first quarter 2024 GDP result continues a remarkably steady slowdown in sequential growth since the fourth quarter of 2022, when GDP grew at a 0.8% QoQ pace. There was an upward revision to the 4Q23 growth numbers, which now show 0.3% growth, up […]
Elliott Wave Technical Analysis: Binance Crypto Price News For Wednesday, June 5

Elliott Wave Technical Analysis: Binance Crypto Price News For Wednesday, June 5

Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartBinance/ U.S. dollar(BNBUSD)BNBUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave 5Direction Next higher Degrees: wave (3)Wave Cancel invalid level: Details: The Five-Wave Increase in Wave 5Binance/ U.S. dollar(BNBUSD)Trading Strategy: The outlook remains bullish for the Impulse pattern. We are still awaiting further action twice to complete the pattern. Therefore, the price continues […]
Gold Trading Strategy For Wednesday, June 5

Gold Trading Strategy For Wednesday, June 5

Image Source: PixabayToday 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 break out for the XAUUSD based on the supply and demand zones.Video Length: 00:04:37More By This Author:Gold Trading Strategy For Tuesday, June […]
USD/CHF Seems Vulnerable Near 0.8900 Ahead Of US Services PMI

USD/CHF Seems Vulnerable Near 0.8900 Ahead Of US Services PMI

Image Source: Unsplash USD/CHF is prone to more downside due to firm speculation that the Fed will start lowering rates in September. The next move in the US Dollar will be guided by the US Services PMI data for May. Fears of SNB’s stealth intervention in currency markets have strengthened the Swiss Franc. The USD/CHF pair […]
Short Term Elliott Wave Structure In Oil Favors Downside

Short Term Elliott Wave Structure In Oil Favors Downside

Image Source: PexelsShort Term Elliott Wave in Oil (CL_F) shows incomplete Elliott Wave bearish sequence from 04.12.2024 high. Down from there, wave 1 ended at 76.15 like the 1 hour chart below shows. Rally in wave 2 unfolded in a zig zag Elliott Wave structure. Up from wave 1, wave ((a)) ended at 78.05 and dips in wave […]
These 3 Companies Boast Bright Outlooks

These 3 Companies Boast Bright Outlooks

Image Source: PixabayFavorable earnings estimate revisions are key for a stock to move higher, precisely where the Zacks Rank comes into play.The Zacks Rank uses four factors related to earnings estimates to classify stocks into five groups, ranging from ‘Strong Buy’ to ‘Strong Sell.’ Importantly, it allows individual investors to take advantage of trends in earnings […]
Bitcoin eyes all-time high with 4% gap as ETFs attract massive inflows

Bitcoin eyes all-time high with 4% gap as ETFs attract massive inflows

Bitcoin’s price soared to $71,200 on Tuesday, only 4% away from its all-time high of $73,700 established earlier in March, according to data from TradingView. The rally comes on the heels of massive inflows into US spot Bitcoin exchange-traded funds (ETFs).Data from HODL15Capital shows that US Bitcoin funds collectively witnessed $887 million in net inflows, […]