PolkaDot Is In A Bigger Recovery As Anticipated
Crypto market is in a massive rally and there can be space for more gains, as we see an unfinished five-wave bullish cycle. One of the ALTcoins that shows an ongoing five-wave impulse is PolkaDot with ticker DOTUSD, which is coming nicely higher for wave (C) or (3) after we noticed a complex W-X-Y corrective […]
More Revisions Coming To Employment Data
In August, the BLS revised 2024 employment growth lower by 818k jobs in its preliminary revision of its Current Employment Statistics (CES). Despite the substantial revision, more reductions to the official employment data are likely to come next month. In January, the BLS will release its final benchmark revision. The preliminary and final revisions to […]
Gold’s Upside Attempts Remain Limited With All Eyes On The Fed
Gold finds support at $2,630 but remains capped ahead of the Fed’s decision. The market is bracing for a Fed “hawkish cut” that might boost the US Dollar and weigh on Gold. XAU/USD remains under pressure, with upside attempts capped below $2,665. Gold (XAU/USD) is practically flat on Wednesday after bouncing up from a one-week low […]
EUR/USD Forex Signal: Bullish Consolidation Basing Off $1.0480
My previous EUR/USD signal on 11th December was not triggered, as the bullish price action happened below my identified support level at $1.0499. Today’s EUR/USD Signals Risk 0.75%. Trades may only be taken before 5pm London timetoday. Short Trade Idea Go short following a bearish price action reversal on the H1 timeframe immediately upon the next touch […]
Sensex Today Trades Marginally Lower; Nifty Below 24,350
Asian markets traded mixed on Wednesday following overnight losses on Wall Street.Japan’s Nikkei 225 fell 0.4%, while the Topix rose 0.1%. South Korea’s Kospi gained 0.6%, while the Kosdaq declined 0.4%US stock market ended lower on Tuesday as investors exercised caution ahead of the Federal Reserve’s monetary policy announcement.Here’s a table showing how US stocks […]
EUR/USD Trades Sideways Ahead Of Fed Policy Outcome
EUR/USD consolidates in a tight range near 1.0500, with investors focusing on the Fed’s policy meeting. The Fed is widely expected to cut interest rates by 25 bps but to deliver slightly hawkish remarks on policy guidance. ECB’s Rehn said that inflation stabilizing near the central bank’s target of 2% paves the way for more […]
BTC/USD Forex Signal: Bitcoin Surges, But Bearish Divergence Forms
Bullish View Buy the BTC/USD pair and set a take-profit at 110,000. Add a stop-loss at 104,000. Timeline: 1-2 days. Bearish View Set a sell-stop at 106,000 and a take-profit at 103,000. Add a stop-loss at 110,000. The BTC/USD pair continued its strong rally, reaching an all-time high, as demand for Bitcoin surged. Bitcoin soared […]
Commodity Currencies Are Struggling
Image Source: Pixabay The commodity bloc currencies have been hit hard of late and are once again extending declines to multi-month lows against the US Dollar. We are seeing a clear divergence in monetary policy outlooks, with deteriorating economic data in Australia, New Zealand, and Canada weighing on the respective currencies.Video Length: 00:01:04More By This Author:Euro […]
Elliott Wave Technical Analysis: Euro/U.S. Dollar – Wednesday, Dec. 18
EURUSD Elliott Wave Analysis Trading LoungeEuro/U.S. Dollar (EURUSD) Day ChartEURUSD Elliott Wave Technical Analysis Function: Bearish Trend Mode: Impulsive Structure: Orange Wave 3 Position: Navy Blue Wave 3 Direction Next Lower Degrees: Orange Wave 3 (Started) Details: Orange wave 2 is considered complete. Currently, orange wave 3 of navy blue wave 3 is in progress. Wave […]
USD/CAD Marks Fresh Multi-Year Highs Near 1.4350, Awaits Fed’s Guidance
Photo by Michelle Spollen on Unsplash USD/CAD has marked 1.4329, a level not seen since March 2020, on Wednesday. The Canadian Dollar faces challenges due to the dovish BoC and domestic political uncertainty. CME FedWatch tool suggests almost fully pricing in a 25 basis point cut on Wednesday. USD/CAD extends its winning streak for the fifth consecutive day, trading […]
