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US Market Commentary – Thursday, April 4
Weak ISM Services Hits DollarThe US Dollar is turning sharply lower into the back of the week, ahead of tomorrow’s keenly awaited March labour reports. Yesterday, the ISM services reading was seen unexpectedly dropping to 51.4 from 52.6 prior, below the 52.8 the market was looking for. On the back of the recent uptrend in […]
EUR/GBP Rises To Near 0.8570 Amid Expectations Of Rate Cuts By Major Central Banks
Image Source: Pixabay EUR/GBP continues its winning streak amid possible rate cuts by major central banks. The Pound Sterling faces challenges as the BoE is expected to initiate rate cuts in June, with odds standing at 66%. ECB’s Pablo Hernandez stated that recent inflation data aligns with the central bank’s mandate of achieving its inflation […]
Counterintuitive Price Action
Image Source: Pixabay Currency and equity markets are finally back in sync on Thursday, though at the same time, they appear to be in sync but also moving in a counterintuitive direction. Everything we’ve seen of late has been supporting the case for less rate cuts than more in 2024.Video Length: 00:01:45More By This Author:Currencies And […]
FX Daily: Dollar Steps Back From The Brink
Image Source: Unsplash Just when it looked like the dollar was going to push ahead, a soft prices paid component of the US March ISM services release dragged the dollar lower yesterday. With Chinese markets shut and little US data today, expect a holding pattern in FX markets ahead of tomorrow’s jobs data. We will also […]
AUD/USD Forex Signal: Goes Parabolic Ahead Of US NFP Data
Bullish view Buy the AUD/USD pair and set a take-profit at 0.6600. Add a stop-loss at 0.6500. Timeline: 1-2 days. Bearish view Set a sell-stop at 0.6550 and a take-profit at 0.6500. Add a stop-loss at 0.6600. The AUD/USD went vertical in the overnight session after Jerome Powell delivered an important speech at Stanford University. The pair […]
Sensex Today Trades Higher; Nifty Opens At Record High
Asian markets traded higher following overnight gains on Wall Street after Fed Chair Jerome Powell reaffirmed his view of likely rate cuts this year.Japan’s Nikkei 225 rallied 1.34% to trade near 40,000, while Topix gained 1.1%. South Korea’s Kospi rose 1.2%. Markets in Hong Kong, mainland China and Taiwan are shut for a public holiday.US […]
EUR/CHF Golden Cross Pattern Points To A Surge To Parity
Image Source: Pixabay The EUR/CHF exchange rate has continued soaring this year. It has jumped to its highest level since June 22nd last year. The pair has formed a golden cross pattern on the daily chart. The EUR/CHF exchange rate continued its strong rebound after this week’s European and Swiss consumer inflation numbers. The pair surged to a […]
EUR/JPY Price Analysis: Resumes Its Bullish Bias Near 164.50 Amid The Overbought Condition
Image Source: Unsplash EUR/JPY extends its recovery to 164.50 in Thursday’s early European session. The cross resumes its bullish outlook with the overbought RSI condition. The first upside barrier will emerge at 164.70; initial support level is located at the 164.00 round mark. The EUR/JPY cross trades on a stronger note for the third consecutive day […]
Elliott Wave Technical Analysis: U.S.Dollar/Swiss Franc Forex
USD/CHF Elliott Wave Analysis Trading Lounge Day Chart, U.S.Dollar/Swiss Franc (USD/CHF) Day Chart USD/CHF Elliott Wave Technical AnalysisFUNCTION: Counter Trend MODE: corrective STRUCTURE: blue wave 2 POSITION: black wave 1 […]
Silver Price Prediction: Bullish Breakout Confirmed
Image Source: Pixabay The price of silver has finally made a strong bullish breakout. It flipped the important resistance point at $26.16 into a support. It is soaring because of the ongoing gold price increase. Silver price made a strong bullish breakout this week, helped by the strong performance of gold, which has jumped to a record […]
