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Daily Market Outlook – Friday, July 12
Image Source: Unsplash Asian tech shares fell on Friday, following Wall Street’s decline due to slowing US inflation. The yen was volatile. Asian technology stocks dropped by up to 3.2%, with Japan and South Korea seeing the biggest losses. The Nasdaq 100 fell 2.2% as inflation data suggested a potential rate cut, leading to an exodus […]
ALTseason Can Be Around The Corner
Crypto total market cap chart with ticker TOTAL is trying to wake up in the 4-hour chart after a three-wave A-B-C correction, but it’s still below trendline, so there’s no confirmation for the support yet, however, it can jump anytime soon, unless it’s going to retest the lows for wave C during the weekend. Even if […]
Gold Trading Strategy Today – Friday, July 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: 00:03:08More By This Author:Gold Trading Strategy For Thursday, July 11 […]
Forex: Yen Takes Center Stage With Bank Of Japan In Rate Check Mode
Image Source: Pixabay The yen had quite the rollercoaster ride on Friday, thanks to the Bank of Japan (BOJ) conducting those enigmatic “rate checks.” This fueled suspicions that the authorities had a hand in Thursday’s market antics, trying to bolster the currency.In the morning trading session in Tokyo, the yen whipped around like a cat chasing […]
The Canadian Dollar Reached A 2-Month High
Photo by Michelle Spollen on Unsplash At Thursday’s close, the Dow Jones Index (US30) was up 0.08%, while the S&P 500 Index (US500) decreased by 0.88%. The Nasdaq Technology Index (US100) closed negative 1.95%. Stocks found early support on Thursday on the Fed’s favorable June US CPI report, which lowered bond yields and reinforced speculation that the Fed could cut interest rates this year. […]
Elliott Wave Technical Analysis: S&P/TSX 60 Index – Friday, July 12
S&P/TSX 60 Elliott Wave Analysis Trading Lounge Day ChartS&P/TSX 60 Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 3 DIRECTION NEXT HIGHER DEGREES: Orange Wave 3 (started) DETAILS: Orange Wave 2 of Navy Blue Wave 3 is completed. Now, Orange Wave 3 is in play. WAVE CANCEL INVALID LEVEL: 1281.11The S&P/TSX 60 Elliott Wave Analysis on […]
Bitcoin Forecast: Bitcoin Looks Lost
The traditional thinking is that the Federal Reserve cutting rates would be good for Bitcoin because it’s supposed to be a store of value. But I’m also old enough to remember when Bitcoin was digital gold. It was a new payment paradigm. It was going to be the world’s reserve currency, and on and on. […]
Sharp Drop In Turkey’s Annual Current Account Deficit
May’s current account posted a US$1.2bn, lower-than-expected deficit that led to a marked drop in the 12M rolling deficit from US$31.7bn a month ago to US$25.2bn (translating into c. 2.2% of GDP). Accordingly, the annual deficit, which is the lowest since mid-2022, returned to its improvement trend after a temporary halt in April. Current account (12M […]
Spain Vs. England: Can Stock Indexes Predict Euro 2024 Winners?
Spain vs England, Euro 2024 final on July 14 Spain favored to win Euro 2024 final SPN35 up 10.38% YTD, UK100 up 6.88% SPN35 and UK100 both forecasted to rise about 13% As England and Spain prepare to compete for Europe’s footballing crown this Sunday, July 14th, let’s take a look at how their stock markets have performed this year. Stock indices 101A stock […]
Silver Price Forecast: XAG/USD Faces Some Selling Pressure Below $31.50 As US Dollar Rebounds
Silver price (XAG/USD) attracts some sellers near $31.25, snapping the three-day winning streak during the early European trading hours on Friday. The white metal trims gains amid the modest rebound of the Greenback. However, the downside might be limited as traders raise their bets on the Federal Reserve (Fed) rate cut in September. The US Bureau of Labor […]
