Forex Analysis, Reviews, Signals and Forecasts

468x60

Are you looking for the best and most reliable source of forex information and guidance? Do you want to stay updated on the latest market trends, news, and opportunities? Do you want to learn from the experts and improve your trading skills and performance? If you answered yes to any of these questions, then you have come to the right place. Welcome to Forex Analysis, Reviews, Signals and Forecasts, the ultimate webpage that scours the entire web for the most relevant and useful forex content. Here, you will find everything you need to know about forex trading, from technical and fundamental analysis, to reviews, signals, opinions and forecasts to help you make better trading decisions and achieve your trading goals. Whether you are a beginner or an expert, you will find something valuable and interesting on this webpage.

 

The Latest Forex Analysis and Reviews: The Ultimate Resource for Technical and Fundamental Analysis, Forex Signals, and Forex Forecasts.

  • USDJPY fluctuates around 100 hour MA, targeting key highs and lows

    Mar 28, 2024 | 11:42 am

    The USDJPY remains in an up-and-down market as the day moves toward the close. The price is marginally higher now and tests the 100 hour MA at 151.39. The highs from earlier today did get above those levels, but could not sustain the upside momentum When the price is in a sideways environment waiting for the next shove (higher or lower), the price can have ups and downs around the MAs. The 100 hour MA is also moving sideways indicative of the non-trending environment. Having said that, if the price can extend above the 100 hour MA, the bias does shift more in favor of the buyers. The door would open toward the highs (assuming the price remains above that MA level. This week the high reached 151.967. That briefly took the price to the highest level since 1990 and extended above the 2023 high at 151.91 and the 2022 high at 151.94. That area remains a key target to get to and through as well. On the downside, the low price yesterday and Friday came in around 150.997 (call it 151.00). That would be the first level to get to and through. Below that and traders will look toward the swing high ceiling area from mid-February to early March that comes in at 150.72 to 150.88 (see green numbered circles). The 38.2% of the move up from the March 18 consolidation low is in that area at 150.796. Gettting below that minimum retracement is required to show the sellers are semi-serious about correction lower. Absent that and the buyers are still firmly in control. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • USD/CAD edges lower on strong Canadian GDP

    Mar 28, 2024 | 11:02 am

    The Canadian dollar is slightly higher on Thursday. USD/CAD is trading at 1.3537 in the North American session, down 0.23%. Canada’s GDP rebounds with 0.6% gain Canada’s GDP bounced back with a strong gain of 0.6% m/m in January, after a 0.1% in December. This beat the market estimate of 0.4%. The preliminary estimate for […]

    Read more...
  • Crude oil up over 15.5% for 1Q 2024

    Mar 28, 2024 | 09:54 am

    The price of crude oil is trading up $1.41 or 1.73% today at $82.77. With 1Q quarter end approaching, the price is up a solid 15.53%. The price at the end of the year closed at $71.65. The gain is the largest since Q3 in 2023 when the price surged 28.52% only to then decline by -21.08% in Q4 2023 in up and down trading. If the pattern continues, we should expect a decline in Q2. What might limit the upside in Q2 is the technical resistance currently being tested. Looking at the weekly chart above, the 100-week moving average comes in at $83.05 (blue line on the chart above). The moving average was tested last week at session highs, and is being approached once again today. The high price today has reached $82.85 just $0.20 short of that key technical target. A move above the 100-week movie average would be the first breach since October 23, 2023, and increase the bullish bias from a technical perspective. Conversely, if the sellers can keep the lid on the pair against the level, rotation back toward the 50% midpoint at $81.37 would be the next target to get to and through on the downside to give sellers some comfort. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Russell 2000 looks to end quarter at a new 52-week high

    Mar 28, 2024 | 09:34 am

    With the stock market closed tomorrow, today is the end of the month and the quarter for stocks.The Russell-2000 of small-cap stocks are doing the best of the major US indices today with a gain of 0.89% and in the process is trading to a new high for 2024. The price is also extending at the highest level since March 31, 2022 - 52 weeks ago. Looking at the daily chart, the price reached a high of 2135.45 today. The next target comes in at the 61.8% of the move down from the 2021 high at 2143.63. Getting above that level would also take the price above March 2022 high at 2138.82, and take the price to the highest level since January 2022.The Russell 2000 all-time high price was reached in the week of November 1, 2021 at 2458.85. The current price is still 15.45% away from that all-time high closing level.Meanwhile, the S&P index is trading up 2.55 points or 0.05% at 5250.82. The index closed at a all-time record level yesterday, but is still short of its all-time intraday all-time high of 5261.10. The price today reached 5256.05 so far.The NASDAQ index is trading down -15 points or -0.09% at 16385.68. In March, the NASDAQ index extended to Penn all-time high level of 16538.86.The Dow industrial average also reached a new all-time high level of 39,889.05 – just short of the 40K level. The Dow industrial average moved above the 30,000 level for the first time back in November 2020.How are the major indices doing in the quarter?Dow industrial average is up 5.51%S&P index is up 10.10%NASDAQ index is up 9.16%Russell 2000 is up 5.17%. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Outlook for EUR/USD: Short-term fluctuations impending

    Mar 28, 2024 | 09:12 am

    The foreign exchange market is quiet, concealing an undercurrent of anticipation among investors awaiting pivotal reports from the United States.This week will be truncated due to Good Friday preceding Catholic Easter, resulting in closures across stock exchanges in both the Old and New Worlds.As many traders embark on holiday, spanning until Monday in Europe, attention remains fixated on the imminent release of February's core personal consumption expenditure price index data in America.At week's end, Federal Reserve Chairman Jerome Powell is scheduled to address investors, commanding attention from those still at their posts.Powell's remarks following the PCE report publication could sway the dollar's trajectory, an event keenly observed by market participants.Amidst this, the greenback hovers within the 104.00–105.00 range on Thursday, oscillating as traders await pivotal U.S. data releases.Wells Fargo strategists maintain their forecast of a weaker U.S. currency later in 2024."While early 2024 saw the dollar buoyed by leading U.S. economic indicators and the Fed's cautious stance on rate cuts, we anticipate a slowdown in U.S. growth throughout the year, alongside a gradual easing of inflation," remarked the strategists.Anticipating Fed rate cuts by mid-2024, Wells Fargo cites a potential convergence of weakening U.S. growth and recovering foreign economies, exerting downward pressure on the defensive dollar.Moreover, a scenario of diminishing Treasury yields could diminish the dollar's appeal as a safe haven asset, accentuating sentiment in broader markets.Wells Fargo forecasts a moderated weakening of the dollar against G10 currencies later this year and into the next.According to their projections, the euro's exchange rate against its U.S. counterpart is anticipated to reach $1.07 by mid-2024, $1.09 by year-end, and $1.12 in 2025.So far, the greenback remains strong. It ended the first quarter as the best-performing currency in the G10.Since the beginning of the year, USD has risen in price by more than 3%, including about 2% against the euro. Despite a slowdown, the United States economy continues to outperform most of its global counterparts.The Atlanta Fed's GDP Now model suggests a potential 2.1% growth for the US economy in the first quarter of 2024, following a 3.4% rise in the previous quarter.Federal Reserve Board member Christopher Waller's recent comments, aligning with this positive economic outlook, suggest a tempered approach to rate cuts, bolstering confidence in the dollar's strength.Notably, ING strategists view Waller's remarks as moderately hawkish, reinforcing the perception that the Fed may delay implementing rate cuts.They emphasize the challenge of betting against the greenback in the G10 arena, suggesting a potential upward movement towards 105.00 if investor portfolio rebalancing remains limited.Anticipation surrounding crucial US inflation data has also provided support for the dollar, with economists projecting a modest increase in the core PCE price index for February.While expectations for Fed rate adjustments may remain stable if these projections materialize, robust PCE figures could undermine forecasts of multiple rate cuts in 2024, a scenario favorable for the dollar.However, the market's reaction will hinge significantly on Fed Chairman Jerome Powell's post-PCE report commentary. Powell's recent attribution of rising inflation to seasonal factors underscores the nuanced dynamics influencing market sentiment.A monthly PCE reading of 0.2% would likely offer Federal Reserve Chairman Jerome Powell a sense of relief, while a repeat of 0.4% could prompt a reassessment of his stance.In the former scenario, the dollar might face downward pressure, whereas in the latter, it could find momentum for growth.Powell's remarks, slated for the final hours of both the month and the quarter, are poised to prompt investors to adjust their positions, potentially leading to profit-taking and impacting the greenback.Absent the end-of-month portfolio rebalancing flows, the EUR/USD pair might currently be trading considerably lower than 1.0800, a factor adding to the risk surrounding Friday's release of US PCE data for February, according to ING experts.The possibility of the EUR/USD pair declining towards parity is becoming increasingly tangible.Despite prevailing pressures, the euro has displayed surprising resilience against the dollar, as noted by Bank of New York Mellon experts."While asset owners have gradually reallocated towards the euro over the past 18 months, this trend appears to be losing steam," they remarked.Market sentiment is predominantly swayed by expectations of either a soft landing in the US with sustained positive growth rates or no landing at all.Economists anticipate US GDP to expand by 2% this year, in stark contrast to the projected 0.5% growth in the eurozone, with particular concerns surrounding the German economy.Germany's leading research institutes revised their GDP growth forecast for 2024 downward to a mere 0.1%, citing both cyclical and structural factors contributing to weakened growth rates."While a spring recovery is plausible, the overall growth impulse is expected to remain modest," emphasized representatives of the Institute of World Economics in Kiel (IfW).Thursday's release indicating a 2.7% year-on-year drop in retail sales in Germany for February, following a 1.4% decline in January, underscores the persistent challenges confronting Europe's largest economy in the first quarter.Prominent German research institutes highlighted concerns yesterday, attributing hopes for a robust economic recovery to be hampered by elevated interest rates.The comparatively weaker economic fundamentals in the eurozone, juxtaposed with the US, raise the prospect of the European Central Bank (ECB) preempting the Federal Reserve in easing monetary policy this year.While both central banks may contemplate rate cuts around June, market sentiment leans towards a higher probability of such action from the ECB, with expectations exceeding 80%, compared to approximately 60% for the Fed.Despite the ongoing strength of the US economy, which continues to fuel inflation concerns, ECB Governing Council member Fabio Panetta indicated a softening stance on price stability within the eurozone.Panetta suggested that conducive conditions were emerging in the region to warrant a shift towards a more accommodative monetary policy stance.He cautioned against overly restrictive monetary measures, citing their potential to dampen demand and precipitate a rapid decline in inflation.In response to Panetta's dovish remarks and the tepid German retail sales data, the euro experienced downward pressure, plunging to its lowest level since February 20 at $1.0780.Subsequently, the EUR/USD pair staged a partial recovery, reclaiming ground above the 1.0800 threshold.Traders appear content to wait[…]

    Read more...
  • AUDUSD rebounds higher after dump lower runs out of steam and snaps back higher.

    Mar 28, 2024 | 09:06 am

    The AUDUSD is snapping back to the upside helped by lower yields. The Michigan inflation expectations came in lower which tilted yields back to the downside, and that is helping to weaken the USD including the AUDUSD. Technically, the price is trying to extend back above the broken trend line. Stay above that level (near 0.6519) and the market could start to look toward the 200 bar MA on the 4-hour chart and the 200-Day MA. Both those MAs are near 0.6546. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Baker Hughes oil rig count. USA, 19:00 (GMT+2)

    Mar 28, 2024 | 09:00 am

    At 19:00 (GMT+2), data on the number of active oil rigs from Baker Hughes will be published. The weekly report records changes in oil production capacity in the United States. Previously, the number of rigs decreased to 509 units, and a continuation of this trend may support oil prices. Read more

    Read more...
  • Trading Signals for BITCOIN (BTC/USD) on March 28-30, 2024: buy above $69,636 (3/8 Murray - 21 SMA)

    Mar 28, 2024 | 08:03 am

    Bitcoin is trading around 70,645, bouncing after having reached the bottom of the uptrend channel forming since March 21. BTC is respecting its bullish trend which makes us think that it could probably continue its rise in the coming days and the crypto could reach 4/8 of Murray around $75,000.Whenever BTC trades above 68,750, there is a chance that it will continue to rise and could be seen as an opportunity to buy above this area.If Bitcoin decisively breaks the bullish trend channel and consolidates below 68,750, we could see a downward acceleration. The price is likely to fall towards the 200 EMA at 64,213 and finally, towards 2/8 Murray at 62,500.Technically, Bitcoin is approaching overbought levels according to the eagle indicator and we could expect a technical correction in the coming days. If this scenario occurs, we should expect confirmation of a sharp break below $69,000.Our trading plan for the next few days is to buy BTC above 68,750 or above 69,636 with targets at 72,500, 74,000 and finally, $75,000.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Gold is on track for the first ever close above $2200

    Mar 28, 2024 | 08:01 am

    These are heady days in the gold market.Despite some US strength and hawkish comments from the Fed's Waller today, gold is a standout performer, up $20 to $2213.If gold can hold onto most of those gains, today will mark the first ever daily close above $2200. Technically, there is something of an inverted head and shoulders shown here that targets $2500.What's striking to me about gold is how quiet this rally has been. Silver hasn't hit new highs and gold miners continue to struggle. Those two things that tell me that retail and the investment community isn't involved in this bull market, at least not yet.I talked about these things with Kitco and highlighted the positive setup.So where is the buying coming from? It's clear that it's Asia. Export data from Switzerland show physical gold is going to China and there are also signs of demand from Middle Eastern customers.I think we will look back on this gold market and it will be clear that the decisions of the US and Europe to seize Russian financial assets was the catalyst for a multi-year bull market.The next big driver is likely to be Fed rate cuts and -- eventually -- a weakening of the US dollar. I'm constructive on the dollar in general but by 2026 as fiscal support runs out, it should fade and that may be when retail piles in. This article was written by Adam Button at www.forexlive.com.

    Read more...
  • USDCAD continues its ups and downs and returns to support.

    Mar 28, 2024 | 07:52 am

    The USDCAD is keeping the ups and downs going today which is the pattern for the week as well. At the highs today, the price moved into a swing area between 1.3605 and 1.36269. After rotating lower, the last few bars on the 4-hour chart below have seen the price return to another swing area between 1.35260 1.35428. Support is holding against the high of that swing area.At some point, the price would need to get outside of the ups and downs to give you the buyers more comfort and control or the sellers more comfort and control. In between and the buyers and sellers are battling it out. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Trading Signals for EUR/USD on March 28-30, 2024: buy above 1.0780 (1/8 Murray - rebound)

    Mar 28, 2024 | 07:38 am

    EUR/USD is trading around 1.0807, bouncing after having reached the bottom of the downtrend channel forming since March 5. The euro would be showing signs of recovery but should consolidate above 1.0826 (21 SMA) to sustain the bullish movement.Since the US NFPs data, the euro has been under strong bearish pressure. Having fallen below zero 2/8 Murray, the euro has been under strong downward pressure but could now be showing signs of a technical rebound. Therefore, we could look for opportunities to buy only if the euro consolidates above 1/8 Murray around 1.0803 or in case of a rebound at 1.0780.If the Euro continues to trade within the secondary bearish channel, we could expect EUR/USD to bounce again around 1.0780 which could also be seen as an opportunity to buy with the target at 1.0864.The eagle indicator reached oversold levels. So, the euro could continue to bounce above 1.0780 in the coming days and could reach the top of the downtrend channel around 1.0890.Below 1.0770, we should avoid buying because the decline could accelerate and the instrument could reach 1.0742 and finally 1.0700.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • USDCHF tests a cluster of support as buyers take profit. Can support area hold?

    Mar 28, 2024 | 07:18 am

    The USDCHF is correcting lower in early US trading and in the process is back down testing the:Broken 38.2% on the daily chart at 0.9025.100 hour MA at 0.90167Swing level at 0.9020A move below the area would open the door for more corrective price action after the run higher in March. Staying above keeps the buyers more in control.In March, the low was reached at 0.87289 and stepped higher. Last week, the SNB surprised with a rate cut which sent the pair from around 0.8855 to 0.8975. The price has since continued the run higher with the pair extending to 0.90705 yesterday. That was the highest level going back to early November 2023. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Trading Signals for GOLD (XAU/USD) on March 28-30, 2024: sell below $2,218 (7/8 Murray - 21 SMA)

    Mar 28, 2024 | 06:53 am

    Early in the American session, Gold is trading around 2,212.72 and near the 7/8 Murray line. This move represents a technical reversal as it happened on March 19 when gold reached the high of 2,222.Currently, we can see that gold is in a strong uptrend after bouncing several times within the uptrend channel. If the price consolidates above 2,218 in the coming hours, it could continue to rise and could reach the psychological level of 8/8 Murray around 2,250.However, we could expect there to be an exhaustion of the bullish strength in gold, since the level around 2,218 is a weekly resistance and could be a key rejection point. Therefore, we must monitor this point for the next few hours and we could expect a technical correction in the next few hours. Therefore, the instrument could fall towards 6/8 Murray located at 2,187.A technical bounce around the 21 SMA located at 2,183 could offer a good point to resume buying. From that level, we could expect gold to reach 8/8 Murray located at 2,250.On the contrary, a sharp break and a fall below 6/8 Murray could accelerate its down move and the metal could reach 5/8 Murray located at 2,156. Finally, gold plunge to 8/8 Murray located at 2,125.Our trading plan for the next few hours is to sell below 2,212 or in case there is a pullback towards 2218, to sell with targets at 2,200 and 2,187. Technically, we observe that there could be a technical correction in the next few hours, hence, we could look for opportunities to sell.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • USD/CHF Mid-Day Outlook

    Mar 28, 2024 | 06:37 am

    Daily Pivots: (S1) 0.9019; (P) 0.9046; (R1) 0.9064; More…. Intraday bias in USD/CHF is turned neutral with current retreat and some consolidations could be seen. But further rally is expected as long as 0.8964 support holds. Firm break of 0.9070 will resume larger rise from 0.8332 towards 0.9243 key resistance next. In the bigger picture, […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • Kickstart the FX day for March 28 with a technical look at the EURUSD, USDJPY and GBPUSD

    Mar 28, 2024 | 06:34 am

    Kickstart the FX trading day for March 28, 2024 with a technical look at 3 of the major currency pairs:EURUSDUSDJPY and GBPUSDWhat is the technical bias, risks, targets for traders in those currency pairs and why. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • USD/JPY Mid-Day Outlook

    Mar 28, 2024 | 06:34 am

    Daily Pivots: (S1) 150.91; (P) 151.44; (R1) 151.85; More… Range trading continues in USD/JPY and intraday bias stays neutral. On the downside, break of 150.25 support should confirm short term topping, and turn bias back to the downside for 55 D EMA (now at 149.01). Nevertheless, sustained break of 151.93 key resistance will confirm long […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • GBP/USD Mid-Day Outlook

    Mar 28, 2024 | 06:31 am

    Daily Pivots: (S1) 1.2617; (P) 1.2629; (R1) 1.2653; More… Range trading continues in GBP/USD and intraday bias remains neutral. Risk stays on the downside as long as 55 4H EMA (now at 1.2667) holds. Below 1.2574 will resume the fall from 1.2892 to 1.2517 structural support first. Decisive break there will suggest that rise from […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • EUR/USD Mid-Day Outlook

    Mar 28, 2024 | 06:22 am

    Daily Pivots: (S1) 1.0813; (P) 1.0826; (R1) 1.0841; More… EUR/USD’s fall from 1.0980 resumed by breaking through temporary low. Intraday bias is back on the downside for 1.0694 support first. Break there will resume the whole decline from 1.1138 and target 100% projection of 1.1138 to 1.0694 from 1.0980 at 1.0536. Nevertheless, break of 1.0863 […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • Nasdaq Composite Technical Analysis

    Mar 28, 2024 | 06:15 am

    Yesterday, the Nasdaq Composite finished the day almost flat as the lack of bearish catalysts continues to support the market. In fact, the path of least resistance remains to the upside as growth and employment stay resilient, and the Fed continues to signal three rate cuts this year even if inflation reaccelerates a bit. Nasdaq Composite Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Nasdaq Composite has been diverging with the MACD for a long time. This is generally a sign of weakening momentum often followed by pullbacks or reversals. We continue to trade inside the rising wedge, so if the price were to break below the trendline, the sellers will have much more conviction to look for new lows with the base of the wedge at 14477 being the ultimate target. Nasdaq Composite Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price bounced near the bottom trendline where we had the confluence of the red 21 moving average and the 50% Fibonacci retracement level. This is where the buyers kept on stepping in with a defined risk below the trendline to position for a rally into a new all-time high. The sellers, on the other hand, will want to wait for the price to break below the trendline before even considering going short in this market. Nasdaq Composite Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see more closely the recent price action with the price yesterday rallying into the close. We can also see that we have now a black counter-trendline. The buyers will want to see the price breaking above the counter-trendline to gain even more conviction and increase the bullish bets into a new all-time high. Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE report and Fed Chair Powell. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • Pending home sales. USA, 16:00 (GMT+2)

    Mar 28, 2024 | 06:00 am

    At 16:00 (GMT+2), February data on the index of pending sales in the American real estate market will be published. The indicator reflects changes in the number of signed but unpaid housing contracts and is an important indicator of sector activity. It is expected to increase from −4.9% to 1.5%, supporting the American dollar. Read more

    Read more...
  • Michigan consumer sentiment. USA, 16:00 (GMT+2)

    Mar 28, 2024 | 06:00 am

    At 16:00 (GMT+2), the US will publish March data on changes in the consumer confidence index from the University of Michigan. The indicator is calculated monthly based on a telephone survey of at least 500 American households and records consumer spending that is part of economic activity. The value is expected to decrease from 76.9 points to 76.5 points, putting pressure on the American dollar. Read more

    Read more...
  • USD/TRY Forecast: Struggle Against USD Continues - 28 March 2024

    Mar 28, 2024 | 05:36 am

    The pair continued its slow ascent towards the peak recorded last week, which settled lower after the Turkish Central Bank decided to raise interest rates last Thursday.

    Read more...
  • GBP/USD Analysis: British, US Data Determines Fate - 28 March 2024

    Mar 28, 2024 | 05:26 am

    As March trading draws to a close, the British pound has stabilized around the $1.26 level, poised for a quarterly decline of 0.7% against the US dollar.

    Read more...
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    Mar 28, 2024 | 05:19 am

    As the North American session begins, the USD is the strongest and the NZD is the weakest. Central bankers were center stage in expressing views led by Fed Governor Christopher Waller. Waller - a permanent voting member on the Federal Reserve board, - emphasized a cautious approach to monetary policy, suggesting that the current interest rate may need to be maintained longer than previously anticipated, with no immediate plans to initiate rate cuts. Waller highlighted the necessity of observing further progress towards the 2% inflation target before advocating for a rate reduction, indicating that a few more months of data would be required to ensure inflation is on a downward trajectory. Despite expressing expectations for a rate cut later in the year, recent economic data has presented a mixed picture, with healthy economic growth and easing wage pressures but disappointing inflation progress and ambiguity in job market signals. Waller acknowledged the economy's robust performance, which supports the Federal Reserve's cautious stance, and downplayed the likelihood of aggressive rate hikes or significant rate cuts in the near future. He also touched on various factors influencing financial conditions, such as the impact of the stock market on financial conditions indexes and the role of private credit lending in tight credit spreads. Waller concluded that the Fed is responsive to economic data without overreacting, underscoring the importance of not panicking over potential increases in unemployment rates, given the overall aim of achieving a soft landing for the economy.From the ECB, policymaker Fabio Panetta indicated that the prerequisites for beginning to ease monetary policy are becoming evident. He noted that the currently restrictive monetary policy stance is effectively curbing demand and leading to a swift decline in inflation rates. Furthermore, Panetta highlighted that the risks to price stability have lessened, suggesting a more optimistic outlook for the European Central Bank's ability to potentially adjust its policy approach in response to improving economic indicators. This perspective suggests a shift towards a less restrictive policy could be on the horizon, reflecting confidence in the progress made towards achieving price stability.Finally from Jonathan Haskel, a policymaker at the Bank of England, he expressed to the Financial Times that he believes rate cuts are still a significant distance away, indicating a cautious approach towards monetary policy easing. He acknowledged the decline in headline inflation as positive news but emphasized the importance of focusing on the persistence and underlying aspects of inflation, suggesting that headline figures do not fully capture these crucial dimensions. Haskel's change in vote from advocating for a rate hike in February to maintaining the current rate in March reflects his response to observed improvements in key inflation indicators. Despite this shift, his comments affirm his position as one of the more hawkish members of the committee, underscoring a consistent view that suggests a cautious stance on rate cuts in the near term.A snapshot of the other markets as the North American session begins currently shows:Crude oil is trading up $1.11 or 1.36% at $82.44. At this time yesterday, the price was at $81.27Gold is trading up $19.59 or 0.89% at $2214.05. At this time yesterday, the price was at $2189.20Silver is trading down -$0.3 or -0.12 at $24.57. At this time yesterday, the price was at $24.54Bitcoin currently trades at $70.417. . At this time yesterday, the price was trading at $70,205. In the premarket, the major indices are trading lower today after all three indices closed at record levels yesterday (again):Dow Industrial Average futures are implying a gain of 29.25 points. Yesterday the index rose 477.75 points or 1.22% at 39760.09S&P futures are implying a gain of 2.51 points. Yesterday, the index rose 44.91 points or 0.86% at 5248.48Nasdaq futures are implying a loss of -6.29 points. Yesterday, the index rose 83.82 points or 0.51% at 16399.52In the European equity markets, the major indices are trading mixedGerman DAX, 0.05%France CAC , + 0.18%UK FTSE 100, +0.26%Spain's Ibex, -0.12%Italy's FTSE MIB, unchanged (delayed by 10 minutes).Shares in the Asian Pacific markets were mostly higher:Japan's Nikkei 225, -1.46%China's Shanghai Composite Index, +0.59%Hong Kong's Hang Seng index, +0.91%Australia S&P/ASX index, +0.99%Looking at the US debt market, yields are lower:2-year yield 4.622%, +4.8 basis points. At this time yesterday, the yield was at 4.586%5-year yield 4.227%, +3.9 basis points. At this time yesterday, the yield was at 4.214%10-year yield 4.218%, +2.6 basis points. At this time yesterday, the yield was at 4.221%.30-year yield 4.365% +1.4 basis points. At this time yesterday, the yield was at 4.387%Looking at the treasury yield curve spreads:The 2-10 year spread is at -40.0 basis points. At this time yesterday, the spread was at -36.7basis pointsThe 2-30 year spread is at - 25.6 basis points. At this time yesterday, the spread was at -20.2 basis pointsEuropean benchmark 10-year yields are higher: This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Dow Jones Technical Analysis

    Mar 28, 2024 | 05:06 am

    Yesterday, the Dow Jones finished the day positive as the lack of bearish catalysts continues to support the market. In fact, the path of least resistance remains to the upside as growth and employment stay resilient, and the Fed continues to signal three rate cuts this year even if inflation reaccelerates a bit. Dow Jones Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Dow Jones is trading inside a rising channel and continues to diverge with the MACD, which is generally a sign of weakening momentum often followed by pullbacks or reversals. From a risk management perspective, the buyers will have a much better risk to reward setup around the lower bound of the channel where they will also find the red 21 moving average for confluence. The sellers, on the other hand, will want to see the price breaking lower to position for a drop into new lows with the base of the channel at 37128 being the ultimate target. Dow Jones Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price recently bounced on the previous resistance turned support where we had also the confluence with the red 21 moving average. The buyers stepped in to position for a rally into the upper bound of the channel. The sellers, on the other hand, will want to see the price breaking below the lower bound of the channel before even considering going short in this market. Dow Jones Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see more closely the recent price action with bounce on the support and the strong rally afterwards. There’s not much else to glean from this chart as there is no good entry point anymore. If the price were to pull back again though, the buyers will likely pile in around the lower bound of the channel, where they will have a much better risk to reward setup. Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE report and Fed Chair Powell. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • Gold Analysis: When to Sell? - 28 March 2024

    Mar 28, 2024 | 04:44 am

    Gold futures hit another record high in the middle of the holiday-shortened trading week.

    Read more...
  • Gross domestic product. Canada, 14:30 (GMT+2)

    Mar 28, 2024 | 04:30 am

    At 14:30 (GMT+2), January data on the gross domestic product (GDP) of Canada will be published. It is the main indicator reflecting the state of the national economy and considers domestic consumption, investment, government spending, and exports. It is expected to rise from 0.0% to 0.4% MoM. Read more

    Read more...
  • Initial jobless claims. USA, 14:30 (GMT+2)

    Mar 28, 2024 | 04:30 am

    At 14:30 (GMT+2), the US will present data on the number of initial unemployment claims. The indicator measures the number of people who applied for the first time during the past week. Statistics are collected by the national Ministry of Labor and published in a weekly report. The number of benefit claims is used to measure the health of the employment sector, as an increase in the number means that fewer people are hired. A correction from 210.0K to 214.0K is expected. Read more

    Read more...
  • Gross domestic product. USA, 14:30 (GMT+2)

    Mar 28, 2024 | 04:30 am

    At 14:30 (GMT+2), data on US Q4 gross domestic product (GDP) will be published. It is the main indicator reflecting the state of the national economy and considers domestic consumption, investment, government spending, and exports. It is expected to adjust from 4.9% to 3.2% QoQ, and the deflator may change from 3.3% to 1.7%, putting pressure on the American dollar. Read more

    Read more...
  • EUR/USD Analysis: Pressures Ahead - 28 March 2024

    Mar 28, 2024 | 04:24 am

    According to forex market trading, the euro against the US dollar EUR/USD stabilized near the psychological support level of 1.0800 at the end of March trading.

    Read more...
  • Gold Technical Analysis

    Mar 28, 2024 | 03:52 am

    Gold has been pretty resilient this week as it erased most of the losses from the prior week. The lack of important economic data most likely played a role as well as the market didn’t have anything to push it further to the downside. In fact, in the big picture, Gold should remain supported as we head into the easing cycle, but in the short term, the price action is driven by the repricing of rate cuts. Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that Gold erased almost all of the losses from the prior week. From a risk management perspective though, the buyers will have a much better risk to reward setup around the 2142 level where we can also find the confluence of the 38.2% Fibonacci retracement level and the red 21 moving average. The sellers, on the other hand, will want to see the price breaking below the 2142 level to position for a drop into the trendline around the 2080 support. Gold Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the latest leg higher diverged with the MACD, which is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, the target for the pullback should be the support zone around the 2142 level. A break below that zone should confirm the reversal and trigger a selloff into the major trendline. For now, the price is supported by the minor upward trendline where the buyers continue to lean onto to position for new higher highs. The sellers will want to see the price breaking below the trendline to position for a drop into the support targeting a break below it with a better risk to reward setup. Gold Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we had an important level at 2200 which has been a strong resistance for the recent bullish wave. The breakout triggered a rally as the buyers piled in to target a retest of the all-time. If the price pulls back into the resistance now turned support, we can expect the buyers to step in again. The sellers, on the other hand, will likely lean on the all-time to position for a drop into the 2142 support. Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE report and Fed Chair Powell. Strong data is likely to weigh on Gold, while weak figures should give it a boost. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • Australian dollar slides after weak retail sales report

    Mar 28, 2024 | 03:50 am

    The Australian dollar is down sharply and has fallen to a three-week low. In the European session, AUD/USD is trading at 0.6491, down 0.66%. Australia’s retail sales rise 0.3% Australia’s retail sales slipped in February to 0.3% m/m, a sharp drop from the 1.1% gain in January and shy of the market forecast of 0.4%. […]

    Read more...
  • AUD/USD Forex Signal: Aussie Showing Relative Weakness - 28 March 2024

    Mar 28, 2024 | 03:48 am

    Support zone between $0.6480 and $0.6488 likely to be pivotal today.

    Read more...
  • Crude Oil Forecast: Continued Support - 28 March 2024

    Mar 28, 2024 | 03:22 am

    The WTI crude oil market has initially fallen during the trading session on Wednesday but found plenty of support at a major support level in the form of $80.

    Read more...
  • Cocoa Analysis: Speculatively Scorching & Dangerously Alluring Still - 28 March 2024

    Mar 28, 2024 | 03:10 am

    If you are new to the Cocoa story the gain may look rather intriguing but not get much interest beyond a slight shrug of the shoulder.

    Read more...
  • USD/PKR Analysis: Intriguing Incremental Steady Pegged Currency Range - 28 March 2024

    Mar 28, 2024 | 03:01 am

    The USD/PKR has actually turned in a rather fascinating move lower.

    Read more...
  • Video market update for March 28, 2024

    Mar 28, 2024 | 02:51 am

    Potential for the further rally on Dollar Index... The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • CAC Forecast: Continues to Look Extraordinarily Strong - 28 March 2024

    Mar 28, 2024 | 02:41 am

    The French stock market has been extraordinarily strong for some time as the market is now stretching toward recent highs again.

    Read more...
  • Forex forecast 03/28/2024: EUR/USD, GBP/USD, USD/JPY, USDX and Bitcoin from Sebastian Seliga

    Mar 28, 2024 | 02:36 am

    We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week.Video Agenda: 00:00 INTRO 00:12 Totay's key events: GDP, Initial Jobless Claims, Pending Home Sales, German Retail Sales, Michigan Consumer Sentiment, U.S. Baker Hughes Oil Rig Count 02:07 GBP/USD 03:32 EUR/USD 04:22 USDX 05:26 USD/JPY 06:37 BTC/USDUseful links:My other articles are available in this section: https://www.instaforex.com/analytics_authors?author=46InstaForex course for beginners: https://www.instaforex.com/distance_training_programPopular Analytics: https://www.instaforex.com/forex_analysisOpen trading account: https://www.instaforex.com/fast_open_new_accountImportant: The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.#instaforex #analysis #sebastianseligaThe material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • EUR/JPY Forecast: Euro Pulls Back Against Yen Via Jawboning - 28 March 2024

    Mar 28, 2024 | 02:33 am

    The euro has pulled back a bit against the Japanese yen during the trading session on Wednesday.

    Read more...
  • S&P 500 Technical Analysis

    Mar 28, 2024 | 02:33 am

    Yesterday, the S&P 500 finished the day positive as the lack of bearish catalysts continues to support the market. In fact, the path of least resistance remains to the upside as growth and employment stay resilient, and the Fed continues to signal three rate cuts this year even if inflation reaccelerates a bit. S&P 500 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the S&P 500 has been diverging with the MACD for a long time. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it led to pullbacks into the red 21 moving average and the trendline where the dip-buyers kept on stepping in to position for the rallies into new highs. The sellers might want to wait for the price to break below the trendline before even considering going short in this market. S&P 500 Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that from a risk management perspective, the buyers will have a much better setup around the trendline where we can also find the confluence with the 38.2% Fibonacci retracement level and the red 21 moving average. The sellers, on the other hand, will want to see the price breaking lower to invalidate the bullish setup and position for a bigger correction to the downside.S&P 500 Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the price bounced on the 38.2% Fibonacci retracement level but didn’t fall all the way back to the trendline. We can also notice that we have an important level at 5230 where the price reacted to several times. If we get a retest of this level, we can expect the buyers to step in to position for even higher prices.Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE report and Fed Chair Powell. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • EUR/GBP Forex Signal: Euro Continues to Fight with the British Pound - 28 March 2024

    Mar 28, 2024 | 02:23 am

    The euro has gone back and forth for the fourth day in a row against the British pound, showing extreme amounts of pressure.

    Read more...
  • Nasdaq 100: Deteriorating market breadth does not bode well for the bulls

    Mar 28, 2024 | 01:55 am

    The price actions of Nasdaq 100 have reached the lower limit of a major resistance zone at 18,435/620. Heightened over-concentration risk from Nvidia as its current year-to-date returns of 87% contributed to 55% of Nasdaq 100’s year-to-date return of 10.50% as of 27 March. Nasdaq 100’s market breadth indicators have started to deteriorate which increases […]

    Read more...
  • AUD/USD Forecast: Australian Dollar Continues to Drift - 28 March 2024

    Mar 28, 2024 | 01:45 am

    The Aussie dollar has fallen a bit during the trading session on Wednesday.

    Read more...
  • SP 500 Forecast: Continues to Show Volatility - 28 March 2024

    Mar 28, 2024 | 01:33 am

    The S&P 500 has been very noisy during the early hours on Wednesday, shooting higher but then selling off.

    Read more...
  • NASDAQ 100 Forecast: Continues to Look Bullish - 28 March 2024

    Mar 28, 2024 | 01:23 am

    The Nasdaq 100 has risen slightly during the early hours on Wednesday as we continue to see more of a buy on the dips market going forward.

    Read more...
  • EURUSD Technical Analysis

    Mar 28, 2024 | 01:17 am

    USDThe Fed left interest rates unchanged as expected with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate lower.Fed Chair Powell maintained a neutral stance as he said that it was premature to react to the recent inflation data given possible bumps on the way to their 2% target. The US CPI and the US PPI beat expectations for the second consecutive month.The US Jobless Claims beat expectations across the board.The latest US Manufacturing PMI beat expectations while the Services PMI missed slightly. Both the measures remain in expansion though. The US Consumer Confidence missed expectations although the labour market details improved.The market expects the first rate cut in June.EURThe ECB left interest rates unchanged as expected at the last meeting revising inflation and growth expectations downwards and maintaining the usual data dependent language.The recent Eurozone CPI beat expectations.The labour market remains historically tight with the unemployment rate hovering at record lows.The latest Eurozone PMIs beat expectations on the Services side while the Manufacturing one missed dropping further in contraction.The market expects the ECB to cut rates in June. EURUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that EURUSD recently fell back into the 1.08 handle following strong US data. The sellers are looking at the 1.0723 level, but they will need to break the 1.08 level first to trigger a selloff into those lows. The trend recently turned bearish as the price started to print lower lows and lower highs, and the moving averages crossed to the downside. This should give the sellers some conviction for a move into new lows. EURUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see more closely the key support around the 1.08 handle with the price recently bouncing on it before eventually falling back to it after a rejection of the 38.2% Fibonacci retracement level. This is where we can expect the buyers to step in with a defined risk below the support to position for a rally back into the 1.10 handle. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 1.0723 level. EURUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the recent price action into the support has been pretty choppy. This might be a signal of weakening momentum. We will likely need a catalyst to break below the support zone and next week we will have plenty of it. For now, we might start ranging around these levels awaiting new data to push on either side. A break above the minor black trendline should see the buyers increase the bullish bets into new highs as the sellers start to take some profits off the table. Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE and Fed Chair Powell. See the video below This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • USD/JPY Forecast: Aims for 155 Yen - 28 March 2024

    Mar 28, 2024 | 01:16 am

    We initially did try to rally, but the members of the Bank of Japan came out and did their usual jaw boning about monitoring currency fluctuations.

    Read more...
  • BTC/USD Forecast: Bullish but Steady - 28 March 2024

    Mar 28, 2024 | 01:03 am

    Bitcoin has been very bullish for a while now, although the last couple of days have been a little bit calmer than the ones we've seen previously.

    Read more...
  • Hot forecast for GBP/USD on March 28, 2024

    Mar 28, 2024 | 01:01 am

    Let's call a spade a spade - the market is stagnant. This is mostly due to the empty economic calendar, which is quite standard for the final week of the month. Usually, it is accompanied by other events like speeches by central bank representatives. However, this time, it just so happened that the meetings of key central banks took place literally the week before, and everything that could affect the market had already been said. The only thing you can pay attention to today is the final GDP data for both the US and the UK. However, final estimates usually have no impact because they simply confirm previous estimates, which the market has already taken into account. Only in the rare case of a discrepancy between the final estimates and the preliminary ones does the market show some reaction. So most likely, the market will continue to tread water. The volume of short positions on the GBP/USD pair decreased around the level of 1.2600, leading to a slowdown in the downward cycle.On the four-hour chart, the RSI moved near the 50 middle line, thus reflecting a possible flat.On the same time frame, the Alligator's MAs are headed downwards, indicating residual signs of the downward cycle.OutlookIn order for the pound to fall further, the price must settle below the level of 1.2600 by the end of the day. In this case, it could extend the current corrective cycle. The alternative scenario considers the area around the level of 1.2600 as support, allowing for a rebound in the range of 1.2600/1.2650.In terms of complex indicator analysis, indicators suggest trading in the range of 1.2600/1.2650 in the short term and intraday periods.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • M3 money supply. EU, 11:00 (GMT+2)

    Mar 28, 2024 | 01:00 am

    At 11:00 (GMT+2), February data on the M3 money supply aggregate in the EU will be published. The indicator measures the value of all foreign currency and liquid monetary assets in the hands of the population, being an important indicator of inflation in the country, the growth of which may lead to higher interest rates by financial regulators. It is expected to rise from 0.1% to 0.3% YoY. Read more

    Read more...
  • Gold Forecast: Fighting the Highs - 28 March 2024

    Mar 28, 2024 | 00:57 am

    Gold markets rallied rather significantly in the early hours on Wednesday, but as soon as futures traders came on, they got hammered again.

    Read more...
  • Unemployment change. Germany, 10:55 (GMT+2)

    Mar 28, 2024 | 00:55 am

    At 10:55 (GMT+2), Germany will publish March data on changes in the number of unemployed citizens. The rising trend reflects weakness in the national labor market and has a negative impact on consumer spending and, therefore, economic growth. It is expected that the March figure will drop from 11.0K to 10.0K. Read more

    Read more...
  • Unemployment rate. Germany, 10:55 (GMT+2)

    Mar 28, 2024 | 00:55 am

    At 10:55 (GMT+2), March unemployment data will be published in Germany. This indicator records the percentage of registered unemployed people over 18 years to the total working-age population. The rate is expected to remain at 5.9% in March. Read more

    Read more...
  • GBP/USD Forex Signal: Pound at Risk Ahead of US PCE Report - 28 March 2024

    Mar 28, 2024 | 00:37 am

    The GBP/USD exchange rate moved sideways on Thursday morning.

    Read more...
  • EUR/USD Daily Outlook

    Mar 28, 2024 | 00:31 am

    Daily Pivots: (S1) 1.0813; (P) 1.0826; (R1) 1.0841; More… Intraday bias in EUR/SD remains neutral a this point. Risk will stay on the downside as long as 55 4H EMA (now at 1.0848) holds. Below 1.0801 will resume the fall from 1.0980 to retest 1.0694 first. Break there will resume the decline from 1.1138 and […] The post EUR/USD Daily Outlook appeared first on Action Forex.

    Read more...
  • EUR/USD Forex Signal: Extremely Bearish Below 1.0800 Ahead of PCE Data - 28 March 2024

    Mar 28, 2024 | 00:29 am

    The EUR/USD pair continued its downward trend on Wednesday morning.

    Read more...
  • GBP/USD Daily Outlook

    Mar 28, 2024 | 00:28 am

    Daily Pivots: (S1) 1.2617; (P) 1.2629; (R1) 1.2653; More… Intraday bias in GBP/USD remains neutral for the moment. Risk stays on the downside as long as 55 4H EMA (now at 1.2667) holds. Below 1.2574 will resume the fall from 1.2892 to 1.2517 structural support first. Decisive break there will suggest that rise from 1.2036 […] The post GBP/USD Daily Outlook appeared first on Action Forex.

    Read more...
  • USD/CHF Daily Outlook

    Mar 28, 2024 | 00:26 am

    Daily Pivots: (S1) 0.9019; (P) 0.9046; (R1) 0.9064; More…. Intraday bias in USD/CHF remains on the upside at this point. Sustained trading above 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062 will target 0.9243 key medium term resistance next. On the downside, below 0.8964 minor support will turn intraday bias neutral and […] The post USD/CHF Daily Outlook appeared first on Action Forex.

    Read more...
  • USD/JPY Daily Outlook

    Mar 28, 2024 | 00:24 am

    Daily Pivots: (S1) 150.91; (P) 151.44; (R1) 151.85; More… Intraday bias in USD/JPY remains neutral for the moment. On the downside, break of 150.25 support should confirm short term topping, and turn bias back to the downside for 55 D EMA (now at 149.01). Nevertheless, sustained break of 151.93 key resistance will confirm long term […] The post USD/JPY Daily Outlook appeared first on Action Forex.

    Read more...
  • BTC/USD Forex Signal: Cup and Handle Forms on the Weekly Chart - 28 March 2024

    Mar 28, 2024 | 00:22 am

    Bitcoin price lost momentum as concerns about regulations in the US continued.

    Read more...
  • AUD/USD Daily Report

    Mar 28, 2024 | 00:14 am

    Daily Pivots: (S1) 0.6518; (P) 0.6529; (R1) 0.6545; More…. Intraday bias in AUD/USD remains neutral and outlook is unchanged. Risk will remain on the downside as long as 0.6633 resistance holds. Firm break of 0.6503 support will indicate that larger fall from 0.6870 is ready to resume, and turn bias to the downside for 0.6442 […] The post AUD/USD Daily Report appeared first on Action Forex.

    Read more...
  • USD/CAD Daily Outlook

    Mar 28, 2024 | 00:12 am

    Daily Pivots: (S1) 1.3552; (P) 1.3580; (R1) 1.3595; More… Outlook in USD/CAD is unchanged and intraday bias remains neutral. On the upside, decisive break of 1.3612 resistance will resume whole rise from 1.3176 towards 1.3897 resistance. On the downside, firm break of 1.3419 support will argue that rebound from 1.3176 has completed. Near term outlook […] The post USD/CAD Daily Outlook appeared first on Action Forex.

    Read more...
  • EUR/GBP Daily Outlook

    Mar 28, 2024 | 00:10 am

    Daily Pivots: (S1) 0.8559; (P) 0.8572; (R1) 0.8579; More… Intraday bias in EUR/GBP remains neutral for the moment. With 0.8529 support intact, further rally is in favor. Rebound from 0.8497 is seen as at least correcting the fall from 0.8764. Above 0.8601 will target 161.8% projection of 0.8497 to 0.8577 from 0.8503 at 0.8632. In […] The post EUR/GBP Daily Outlook appeared first on Action Forex.

    Read more...
  • EUR/AUD Daily Outlook

    Mar 28, 2024 | 00:08 am

    Daily Pivots: (S1) 1.6547; (P) 1.6585; (R1) 1.6608; More… EUR/AUD is extending consolidation from 1.6742 and intraday bias stays neutral. Near term outlook will remain cautiously bullish as long as 1.6439 support holds. On the upside, above 1.6677 will target 1.6742 first. Decisive break there will resume whole rise from 1.6127 and target 1.6844 resistance […] The post EUR/AUD Daily Outlook appeared first on Action Forex.

    Read more...
  • EUR/CHF Daily Outlook

    Mar 28, 2024 | 00:06 am

    Daily Pivots: (S1) 0.9771; (P) 0.9796; (R1) 0.9810; More.. Intraday bias in EUR/CHF remains on the upside for the moment. Rise from 0.9252 is in progress towards 1.0095 key resistance next. On the downside, break of 0.9689 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat. In […] The post EUR/CHF Daily Outlook appeared first on Action Forex.

    Read more...
  • GBP/JPY Daily Outlook

    Mar 28, 2024 | 00:03 am

    Daily Pivots: (S1) 190.59; (P) 191.07; (R1) 191.62; More….. Intraday bias in GBP/JPY remains neutral as consolidation continues below 193.51. Outlook will stay bullish as long as 187.94 support holds. On the upside, break of 193.51 will resume larger up trend to 61.8% projection of 178.32 to 191.29 from 187.94 at 195.95, which is close […] The post GBP/JPY Daily Outlook appeared first on Action Forex.

    Read more...
  • KOF leading indicators. Switzerland, 10:00 (GMT+2)

    Mar 28, 2024 | 00:00 am

    At 10:00 (GMT+2), the March index of leading economic indicators from the Swiss Economic Institute (KOF) will be published, which considers 12 indicators related to consumer confidence, production, new orders, and the real estate market and also reflects the development outlook for the next six months. A correction from 101.6 points to 102.0 points is predicted, supporting the franc. Read more

    Read more...
  • Russell 2000 Technical Analysis

    Mar 27, 2024 | 23:57 pm

    Yesterday, the Russell 2000 finished the day positive as the lack of bearish catalysts continues to support the market. In fact, the path of least resistance remains to the upside as growth and employment stay resilient, and the Fed continues to signal three rate cuts this year even if inflation reaccelerates a bit. Russell 2000 Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Russell 2000 rallied back to the cycle high around the 2115 level. We can also notice that the price continues to diverge with the MACD, which is generally a sign of weakening momentum often followed by pullbacks or reversals. This is where we can expect the sellers to step in with a defined risk above the cycle high to position for a drop back into the 2020 support. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into new highs. Russell 2000 Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price got overstretched recently as depicted by the distance from the blue 8 moving average. In such instances, we can generally see a pullback into the moving average or some consolidation before the next move. In this case, we got the pullback into the moving average where the buyers stepped in for a rally back into the cycle highs. Russell 2000 Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the latest leg higher is diverging with the MACD right at the cycle high. This should give the sellers a bit more confidence for a move lower as it could be a signal at least for a pullback into the trendline. If the price were to pull back, the buyers will likely lean on the trendline to position for a break above the cycle high with a better risk to reward setup. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 2020 support. Upcoming EventsToday we get the latest US Jobless Claims figures, while tomorrow we conclude with the US PCE report and Fed Chair Powell. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • EUR/JPY Daily Outlook

    Mar 27, 2024 | 23:35 pm

    Daily Pivots: (S1) 163.32; (P) 163.87; (R1) 164.30; More… Intraday bias in EUR/JPY remains neutral for the moment. Strong support is still expected from 55 4H EMA (now at 163.58) to bring rebound. On the upside, break of 165.33 will resume larger up trend to 61.8% projection of 153.15 to 163.70 from 160.20 at 166.71. […] The post EUR/JPY Daily Outlook appeared first on Action Forex.

    Read more...
  • Retail sales. Germany, 09:00 (GMT+2)

    Mar 27, 2024 | 23:00 pm

    At 09:00 (GMT+2), February data on retail sales will be published in Germany. The indicator records the monthly quantity of all goods retailers sold based on a sample of retail stores of different types and sizes. It is an important indicator of consumer spending and has a significant impact on gross domestic product (GDP). It is expected that it will adjust from –0.4% to 0.4% MoM and from –1.4% to –0.9%, supporting the euro. Read more

    Read more...
  • Gross domestic product. UK, 09:00 (GMT+2)

    Mar 27, 2024 | 23:00 pm

    At 09:00 (GMT+2), data on the UK Q4 gross domestic product (GDP) will be published – the main indicator reflecting the state of the national economy, considering domestic consumption, investment, government spending, and exports. It is expected that the indicator will accelerate the negative dynamics from −0.1% to −0.3% QoQ and drop from 0.3% to −0.2% YoY. Read more

    Read more...
  • Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday March 28 2024.

    Mar 27, 2024 | 22:01 pm

    Although on the 4 hour chart of Nasdaq 100 index is moving sideways and ranging, but with the price movement breaking down WMA 20 Shift 2 followed by the appearance of the Bearish 123 pattern followed by several Bearish Ross Hooks (RH) gives an indication that in the near future #NDX has the potential to weaken down to level 18161.1 if this level is successful If it is broken below, #NDX has the potential to continue its decline to the level of 17996.8 as the main target and if the momentum and volatility are supportive then the next level to be aimed at is 17816.8, but if on its way to the target levels mentioned suddenly there will be a correction strengthening, especially if the strengthening correction succeeds in breaking above level 18398.3, then all the downside scenarios that have been described earlier will become invalid and cancel automatically.(Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Technical Analysis of Intraday Price Movement Ripple Cryptocurrency, Thursday March 28 2024.

    Mar 27, 2024 | 22:01 pm

    On the 4 hour chart of Ripple cryptocurrency, there is seems Rising Wedge pattern which happens to be a trendline above also shows the price deviation between those Cryptocurrency price with the confirmation of Awesome Oscillator indicator price movement which is below WMA 30 Shift 2, and also has the downward slope. Then, it can be confirmed that in the near future, Ripple will be weaken down although it can be there is a strengthening correction, but as long as those correction does not exceed the level 0,6333, then Ripple will continue its downward to the level 0,5986 as the main target and 0,5831 as the next target.(Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • EUR/USD and GBP/USD: Technical analysis on March 28

    Mar 27, 2024 | 21:42 pm

    EUR/USDHigher TimeframesYesterday, the bears failed to confirm and continue the decline initiated the day before. As a result, the attraction and influence of weekly levels (1.0829-39) restrain the development of the situation, which may contribute to the formation of consolidation. The remaining benchmarks of this market segment today maintain their positions, so the manifestation of activity may lead to their testing. Thus, bears still await support in the area of 1.0796 (weekly medium-term trend + lower boundary of the daily cloud), while on the path of bulls, the resistance zone of 1.0862-76 remains.H4 – H1On lower timeframes, the advantage remains on the side of the bears. The market continues to explore key levels, which today are at the levels of 1.0826 (central pivot point of the day) – 1.0840 (weekly long-term trend). Overcoming key levels can change the balance of power. In the case of movement development, other benchmarks today will meet the market at 1.0797 – 1.0783 (support of classic levels) and 1.0855 – 1.0870 (resistance of classic pivot points).***GBP/USDHigher TimeframesThe continuation of an active descent did not occur. The market is consolidating around the lower boundary of the daily Ichimoku cloud (1.2629). If uncertainty is replaced by activity from one side, movement development can receive an impulse. For bulls, it will be important first to rise and interact with the upper boundary of the daily cloud (1.2662), the daily short-term trend (1.2688), and the weekly short-term trend (1.2705). The interests of bears will be directed towards passing through the supports of the monthly short-term trend (1.2589) and the weekly levels (1.2552-66).H4 – H1On lower timeframes, the pound continues to test the attraction zone of key levels, which today are within 1.2639-26 (central pivot point + weekly long-term trend). Trading below key levels maintains the main advantage on the bears' side. Bearish benchmarks today are at the levels of 1.2611 – 1.2590 – 1.2575 (support levels of classic pivot points). Bullish benchmarks today are at 1.2647 – 1.2662 – 1.2683 (resistance levels of classic pivot points).***The technical analysis of the situation uses:Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibonacci Kijun levelsLower timeframes - H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Forecast for USD/JPY on March 28, 2024

    Mar 27, 2024 | 20:49 pm

    USD/JPYThe USD/JPY pair continues to consolidate between the levels of 150.80 and 151.95. Time plays on the dollar's side here, as the time spent on consolidation at the peaks increases the likelihood of further growth. In addition, the Marlin oscillator is moving to the right in the uptrend territory.However, the bears have a chance to take control of the situation by pushing the price below the level of 150.80. Today, there is a reason for this - the final estimate of US GDP numbers for Q4. However, this report could also support the dollar, so the price has an equal chance of breaking above the resistance at 151.95. Consolidation above this level will open up the target of 154.25.If the market suddenly feels the risk of such growth prospects, as the Bank of Japan recently warned of currency intervention, then the yen has a chance to stay in the current range, waiting for more significant events to break upwards. The USD/JPY pair has the unique ability to develop a narrow-range, sideways trend for several months.However, if the yen consolidates below the level of 150.80, it may reach 149.72. Next, the price will have to deal with the MACD line.On the 4-hour chart, the price has fallen below the balance indicator line. The Marlin oscillator is in the downtrend territory. These circumstances increase the probability of an attempt to break below the support at 150.80, towards which the MACD line is approaching. Therefore, overcoming the support at 150.80, according to the data from the two timeframes, has a slightly higher probability than breaking through 151.95.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Forecast for GBP/USD on March 28, 2024

    Mar 27, 2024 | 20:49 pm

    GBP/USDThe British pound is slightly stuck on the balance indicator line on the daily chart. However, the price refuses to give up, as it still tries to break this support so it can consolidate below the target level of 1.2596.If it succeeds, it will open the target of 1.2500 - the December 2023 low. On the 4-hour chart, the price is consolidating between the support level of 1.2596 and the balance indicator line. The Marlin oscillator, after briefly entering the positive territory, is returning back to the downtrend territory. A breakthrough above the MACD line (1.2670) will extend the complicated correction for several days.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Forecast for EUR/USD on March 28, 2024

    Mar 27, 2024 | 20:49 pm

    EUR/USDYesterday, the balance indicator line prevented the euro from falling further on the daily chart. This morning, the price is trying to break through this support once again. Overall, the price is facing a strong and wide range, which prevents the bears from attacking - 1.0788-1.0808 - from MA144 to the balance line. Overcoming such an obstacle opens up the possibility of the pair falling to 1.0632 - the October 2023 low.On the 4-hour chart, the balance indicator line also prevented the price from rising. The signal line of the Marlin oscillator turned down from the zero line this morning. If today's US GDP data doesn't turn out to be a disappointment, the dollar has a good chance of rising by the end of the day.At this stage of the overvalued US stock market, there is another reason for its correlation with the national currency, which we have been mentioning more and more lately - if the S&P 500 starts to fall under its own weight, which could even be triggered by weak GDP data, the euro could also fall as a result of market participants moving away from risk.The euro may stop falling if the price overcomes the MACD line around the 1.0855 mark, after which there is a risk that it could further rise towards the target level of 1.0905.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Trading plan for EUR/USD on March 28. Simple tips for beginners

    Mar 27, 2024 | 19:32 pm

    Analyzing Wednesday's trades:EUR/USD on 1H chart EUR/USD showed "stunning" volatility on Wednesday. The range from the day's high to the low was only 29 pips. However, we already warned you that volatility would significantly drop this week, as the previous week had a strong fundamental background, whereas this time it is extremely weak. And so it happened. Even the economic reports have virtually no impact because all the data is secondary of importance. And in any case, what difference does it make whether they have an impact or not if the market is practically standing still?On Wednesday, there was generally no macroeconomic background. The price remains below the trend line, thus the downtrend persists. We are convinced that the euro will resume the decline, but novice traders can see for themselves the current nature of the movement: 3-4 days of low volatility, 1-2 more or less attractive trading opportunities.EUR/USD on 5M chart One sell signal was generated on the 5-minute timeframe. At some point during the European session, the price bounced off the level of 1.0838, after which it managed to fall by about 20 pips. There were no signals to close the deal, so it could be closed manually anywhere closer to the evening. The profit on it amounted to 10-15 pips. Better than nothing.Trading tips on Thursday:On the hourly chart, EUR/USD continues to move downward, which corresponds to the fundamental background. We believe that the euro should fall anyway, as the price is still too high, and the global trend is downward. Unfortunately, the market doesn't always want to trade the pair in a logical manner, and from time to time, we observe unreasonable growth. Moreover, the movements are quite weak.You can try trading on the rebound from the levels of 1.0797 and 1.0838. We don't expect strong movements on Thursday, so we don't expect breakthroughs from above and below the price ranges.The key levels on the 5M chart are 1.0568, 1.0611-1.0618, 1.0668, 1.0725, 1.0785-1.0797, 1.0838-1.0856, 1.0888-1.0896, 1.0940, 1.0971-1.0981, 1.1011, 1.1043, 1.1091. On Thursday, Germany will release reports on retail sales and the unemployment rate. The US docket will feature the jobless claims, the final estimate of Q4 GDP, and the final Consumer Sentiment Index from the University of Michigan for March. We expect low volatility.Basic trading rules:1) Signal strength is determined by the time taken for its formation (either a bounce or level breach). A shorter formation time indicates a stronger signal.2) If two or more trades around a certain level are initiated based on false signals, subsequent signals from that level should be disregarded.3) In a flat market, any currency pair can produce multiple false signals or none at all. In any case, the flat trend is not the best condition for trading.4) Trading activities are confined between the onset of the European session and mid-way through the U.S. session, after which all open trades should be manually closed.5) On the 30-minute timeframe, trades based on MACD signals are only advisable amidst substantial volatility and an established trend, confirmed either by a trendline or trend channel.6) If two levels lie closely together (ranging from 5 to 15 pips apart), they should be considered as a support or resistance zone.How to read charts:Support and Resistance price levels can serve as targets when buying or selling. You can place Take Profit levels near them.Red lines represent channels or trend lines, depicting the current market trend and indicating the preferable trading direction.The MACD(14,22,3) indicator, encompassing both the histogram and signal line, acts as an auxiliary tool and can also be used as a signal source.Significant speeches and reports (always noted in the news calendar) can profoundly influence the price dynamics. Hence, trading during their release calls for heightened caution. It may be reasonable to exit the market to prevent abrupt price reversals against the prevailing trend.Beginning traders should always remember that not every trade will yield profit. Establishing a clear strategy coupled with sound money management is the cornerstone of sustained trading success.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Trading plan for GBP/USD on March 28. Simple tips for beginners

    Mar 27, 2024 | 19:32 pm

    Analyzing Wednesday's trades:GBP/USD on 1H chart The GBP/USD pair showed absolutely no movement on Wednesday. The price moved along the level of 1.2611 amid low volatility. In general, we have been talking about low volatility practically every day because for two consecutive months, the major currency pairs seem to be doing us a favor. But, nevertheless, we have to try to work with what we have. For now, the descending channel remains relevant, so in case the price breaks below the level of 1.2611, we can expect the pound to fall further. However, we would like to remind you that the recent movements looks like a decent trend on the hourly chart, while we have a total flat on the 24-hour timeframe, which has been ongoing for 4 months. And it is not yet clear whether this will end anytime soon.The economic calendar was generally empty on Wednesday. There were no important or insignificant speeches. Therefore, it is not surprising that the pair barely crawled by about 30 pips. The pound continues to trade lazily, illogically, remains overbought, and is unreasonably expensive.GBP/USD on 5M chart On the 5-minute timeframe, the price bounced from the support area of 1.2605-1.2611 twice, which generated two buy signals. In the first case, the price was up by 15 pips, and even less in the second case. Therefore, novice traders could only open one long position - the second signal simply duplicated the first one. It was impossible to incur a loss on the trade because there were no sell signals. The trade should have been manually closed closer to the evening, so it was even possible to earn about 10 pips profit on it.Trading tips on Thursday:On the hourly chart, the downtrend persists. Unfortunately, the market continues to trade sluggishly, which at the very least confuses traders, especially beginners. Nevertheless, the British currency has been gradually declining, which is somewhat encouraging. If the price consolidates above the channel again, it will undermine the prospects of a downward movement.On Thursday, we expect signals around the area of 1.2605-1.2611. We can only work with rebounds from it or wait for a breakthrough, which may slightly strengthen the current movement and provoke a new decline. But in any case, we are talking about very weak movements. Even when GDP reports will be released in the United States and the United Kingdom.The key levels on the 5M chart are 1.2372-1.2387, 1.2457, 1.2502, 1.2544, 1.2605-1.2611, 1.2648, 1.2691, 1.2725, 1.2787-1.2791, 1.2848-1.2860, 1.2913, 1.2981-1.2993. On Thursday, final estimates of GDP numbers for Q4 will be released in both Britain and the United States. However, the market may also show a very weak reaction to these events.Basic trading rules:1) Signal strength is determined by the time taken for its formation (either a bounce or level breach). A shorter formation time indicates a stronger signal.2) If two or more trades around a certain level are initiated based on false signals, subsequent signals from that level should be disregarded.3) In a flat market, any currency pair can produce multiple false signals or none at all. In any case, the flat trend is not the best condition for trading.4) Trading activities are confined between the onset of the European session and mid-way through the U.S. session, after which all open trades should be manually closed.5) On the 30-minute timeframe, trades based on MACD signals are only advisable amidst substantial volatility and an established trend, confirmed either by a trendline or trend channel.6) If two levels lie closely together (ranging from 5 to 15 pips apart), they should be considered as a support or resistance zone.How to read charts:Support and Resistance price levels can serve as targets when buying or selling. You can place Take Profit levels near them.Red lines represent channels or trend lines, depicting the current market trend and indicating the preferable trading direction.The MACD(14,22,3) indicator, encompassing both the histogram and signal line, acts as an auxiliary tool and can also be used as a signal source.Significant speeches and reports (always noted in the news calendar) can profoundly influence the price dynamics. Hence, trading during their release calls for heightened caution. It may be reasonable to exit the market to prevent abrupt price reversals against the prevailing trend.Beginners should always remember that not every trade will yield profit. Establishing a clear strategy coupled with sound money management is the cornerstone of sustained trading success.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • What's in store for us for the rest of the week?

    Mar 27, 2024 | 19:32 pm

    Monday, Tuesday, and Wednesday were only memorable for a few events. Although, to be more accurate, these days were not memorable for anything specific, but they could have been. Speeches by Christine Lagarde and Philip Lane did not provide any new information. Speeches by Madis Muller and Piero Cipollone only confirmed the European Central Bank's intentions to start the rate cut process in the foreseeable future, namely in June. Based on this, the news background did not affect the euro. Market participants pushed the pair a bit higher in the first half of the week, which is a typical corrective wave within a larger-scale wave.In the UK, Catherine Mann, a member of the Bank of England's Monetary Policy Committee, spoke, but her comments did not yield any important information. Mann only said that the markets are pricing in 'too many' cuts, expecting the central bank to take active actions to lower the rate. Buyers could have used these words as a reason to open new long positions, but fortunately, it did not happen. I say "fortunately" because the corrective wave 2 or b on GBP/USD has become too complicated, and we certainly don't need a new extension. However, at the same time, sellers are still not in a rush to build wave 3 or c. The pound sterling remains in a suspended state, and the scales could tip in either direction. In America, Raphael Bostic said that he expects just one rate cut in 2024, while Austan Goolsbee expects three. However, Goolsbee will not participate in the Federal Reserve's voting until the end of the year. Therefore, Bostic's opinion is more valuable. And his statement could have increased demand for the US dollar, but if it did, it was not significant. In addition, the US released a report on durable goods orders, the value of which turned out to be better than market expectations, but at the same time, the January value was revised downward.For the last two days of the week, we have GDP reports for the fourth quarter in the UK and the US, as well as Fed Chair Jerome Powell's speech in the evening on Friday. In America, several minor reports will be released, which the market will likely ignore. Even GDP reports may be ignored, as the final estimates may coincide with the initial and revised ones. Based on all of the above, I expect the week to end as boringly as its first half.Wave analysis for EUR/USD:Based on the conducted analysis of EUR/USD, I conclude that a bearish wave set is being formed. Wave 2 or b is complete, so in the near future, I expect an impulsive downward wave 3 or c to form with a significant decline in the instrument. An internal corrective wave is currently being formed, which could have already ended. I am considering short positions with targets near the 1.0462 mark, which corresponds to 127.2% according to Fibonacci. Wave analysis for GBP/USD:The wave pattern of the GBP/USD instrument suggests a decline. I am considering selling the instrument with targets below the 1.2039 level, because I believe that wave 3 or c will start sooner or later. However, unless wave 2 or b ends, the instrument can still rise to the level of 1.3140, which corresponds to 100.0% Fibonacci. The construction of wave 3 or c may have already started, but the quotes haven't moved far away from the peaks, so we cannot confirm this. Key principles of my analysis:Wave structures should be simple and understandable. Complex structures are difficult to work with, and they often bring changes.If you are not confident about the market's movement, it would be better not to enter it.We cannot guarantee the direction of movement. Don't forget about Stop Loss orders.Wave analysis can be combined with other types of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Retail sales. Australia, 02:30 (GMT+2)

    Mar 27, 2024 | 16:30 pm

    At 02:30 (GMT+2), Australia will release February retail sales data, a key indicator of consumer spending that has a significant impact on the country’s gross domestic product (GDP). The indicator records the monthly volume of all goods retailers sold based on samples of stores of different types and sizes. A correction from 1.1% to 0.4% MoM is expected, putting pressure on the Australian dollar. Read more

    Read more...
  • Record S&P close fueled by late day buying; Nasdaq trails

    Mar 27, 2024 | 13:10 pm

    The major US stock indices are closing higher helped by a late day buying spree. The S&P closed at a record high (its 21st this year). The small-cap Russell 2000 was the biggest mover after rising 2.13% on the day.Although the S&P index closed at a record high level, it did not reach its intraday high of 5261.10 reached on March 21. The high price today reached 5249.26The final numbers are showing:Dow industrial average rose 477.75 points or 1.22% at 39760.09S&P index rose 44.91 points or 0.86% have 5248.48NASDAQ index rose 83.81 points or 0.51% at 16399.51The small-cap Russell 2000 rose 44.185 points or 2.13%. There was the largest gain since February 15. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Dollar increases handicap in Big Ten currency race

    Mar 27, 2024 | 12:43 pm

    It's the end of the quarter, the perfect time to review investment portfolios. Rebalancing them could trigger unexpected movements in financial markets. Credit Agricole believes it will weaken the positions of the U.S. dollar, but the 5-month rally in U.S. stock indices, the longest since 2013, suggests otherwise. Investors may cash in on their long positions in stocks. The main beneficiaries of the deteriorating global risk appetite will be EUR/USD bears.S&P 500 DynamicsMarkets grow on expectations, and the U.S. dollar is no exception. Traders eagerly await personal consumption expenditure index data, a preferred inflation indicator for the Federal Reserve. According to Bloomberg experts, in February, it should accelerate from 2.4% to 2.5% annually and from 0.3% to 0.4% month-on-month. As a result, the 3-month and 6-month indicators will both rise, postponing the date of the Fed's declaration of victory over high prices.The higher U.S. inflation climbs, the more confident the Fed's hawks become. For instance, Atlanta Fed President Raphael Bostic predicts only one rate cut in 2024. Derivatives are counting on three acts of monetary expansion, although the probability of its start in June over the past couple of days has dropped from 75% to 70%.U.S. Inflation DynamicsThis circumstance, combined with the retreat of U.S. stock indices from record highs and rising Treasury bond yields, creates a favorable environment for EUR/USD sellers. However, perhaps it's just a case of buying the U.S. dollar on rumors. As March and the first quarter draw to a close, might there be a sell-off of the dollar on facts? In that case, Credit Agricole's investment portfolio rebalancing scenario could come to fruition.However, according to HSBC, it's not worth fixating on just one Fed. The bank notes that this was the case until mid-March, but decisive actions by the Bank of Japan and the Swiss National Bank shifted investors' focus to other regulators. While the BoJ abandoned its negative rate policy, the SNB didn't wait for the Fed or the ECB and took the initiative itself. As a result, the Forex market started discussing the topic of convergence in monetary policy, from which the U.S. dollar can derive the greatest benefits.Indeed, when other central banks lower rates, their currencies should weaken. When this process becomes widespread, investors seek refuge in a strong economy and find it in the United States. Bloomberg experts forecast a 2.2% growth in the U.S. GDP in 2024, which is incomparable to the ECB's estimate of only 0.6% GDP expansion in the eurozone.Technically, on the EUR/USD daily chart, the unsuccessful attempt by the bulls to storm the fair value at 1.085 indicates buyer weakness. It makes sense to hold and increase short positions formed from this level on a breakthrough of support at 1.08.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • GBPUSD under 100hr MA but holding above key support levels

    Mar 27, 2024 | 12:41 pm

    The GBPUSD last Friday moved below its 200-day MA (at 1.2590), and the low of a swing area between 1.2594 to 1.26137. That should have led to more selling momentum, but that did not happen. The price recovered higher. On Monday, there was a try in the first 4-hour bar (on the chart above) but once again, momentum failed.Since then, the price has reestablished its price action higher but above and below its 100 day MA (blue line at 1.26397 currently). The high price reached 1.2667 on Tuesday, but closed the day at 1.2627 - below the key 100-day MA. Today, the price action has been able to stay entirely below the key 100-day MA. However, the lows for the day have been within the swing area down to 1.2594 and above the 200-day MA at 1.25902. The current price is at 1.2633. So technically close resistance is now at 1.26397 or the 100 day MA, and close support is below at the 200-day MA at 1.2590. Going forward, it will take a move outside those levels (higher or lower) to tilt the bias either more to the upside or more to the downside. In between those levels, and the technical bias is more neutral with buyers and sellers battling it out and waiting for the next shove. .However, with the price lower, the advantage to the sellers with risk focus buyers leaning against support (with a stop on a break below). This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • USDJPY receives strong resistance at 100-hour MA amid volatile trading environment

    Mar 27, 2024 | 12:04 pm

    The USDJPY has experienced upward movement, reaching towards an earlier identified topside target at the 100-hour moving average (MA) located at 151.435. Despite this ascent, sellers present at the MA level have successfully resisted further gains by the buyers. During the US trading session, the pair peaked at 151.419, slightly below the 100-hour MA, showcasing the stiff resistance at this level. The day's lowest price point was 151.019, narrowly above the last Friday's corrective low of 150.997, indicating a tight trading range.Should the pair sustain a position above 151.435, it would signify a strengthened bullish sentiment among traders. Conversely, a dip below 150.997 could tilt the market sentiment towards bearishness.Notably, the pair made a significant move during the Asian session by surpassing both the 2023 high of 151.91 and the 2022 high of 151.945, marking the highest level since 1990. However, the peak was short-lived, only reaching 151.967, indicating a minimal break above these highs before experiencing a pullback.The re-engagement of the previous highs, along with today's peak, suggests a volatile trading environment. A further descent will not only require breaking below the 151.00 mark but also navigating through the significant resistance zone formed between February and early March, spanning 150.718 to 150.88. This area encompasses the 100-hour MA and the 38.2% retracement of the rise from the March 18 low at 150.796. Unless the price falls below this critical zone, the bearish momentum is considered insufficient to overturn the current buyer-dominated market dynamic. The buyers would still be in full control. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • EURUSD price action analysis: key levels and targets to watch

    Mar 27, 2024 | 10:59 am

    The EURUSD is trading in a narrow trading range in the US session. The low was reached at 1.08102. The high in the US session reached 1.08251That keeps the pair below the falling 100 hour MA at 1.08314, the 200 day MA at 1.0836 and the 50% midpoint of the move up from the mid-Feb low. That level comes in at 1.08374. If the buyers are to take more control, they would need to push the price above that area - and stay above.On the downside, the low today was still above the 61.8% of the same move higher at 1.08036 and also above a swing area down to 1.07955. Going forward, getting and staying below that area is needed to increase the bearish bias. Chances are, the next move is not in the cards today. However, Fed's Waller will speak at 6 PM near the start of the new trading day. The US core PCE will be released on Friday which may be the next window for a fundamental shove. PS. Friday is also Good Friday with Europe closed, so it might be conducive to a less-liquid typr of move. For now watching the extremes between 1.0795 and 1.08373 as the bookend support and resistance levels that need to be broken to tilt the bias more in favor of the sellers or buyers. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • US 10-year yields are in an interesting spot

    Mar 27, 2024 | 10:21 am

    US 10-year yields are at a two-week low, down 4.6 bps to 4.188% and at the lows of the day. That comes after a strong seven-year auction to follow up on yesterday's firm 5-year result.The auction sizes this week are huge but the demand is there, at least in terms of quarter-end flows.The fall today took out the 200-day moving average at 4.20% but that hasn't been a particularly important level. More important is that this week's test of 4.35% was rejected. However there is also a series of higher lows on the chart, creating an up-sloping trendline that's being tested.Here's BMO: "The opening gap from early-February remains our ultimate target and comes in at 4.020% to 4.034%. Eventually, this gap will be filled – the only open question is whether it’s a Q1 or Q2 event."So what breaks the range? It has to be economic data. Today we will hear from the Fed's Waller and there are some worries he could be hawkish, the best bet is he puts the focus back on the incoming numbers, starting with PCE on Friday.Beyond that we will get non-farm payrolls and the latest round of ISM numbers. So far, it's tough to find any real signs of economic weakness but there have been some anecdotal reports of weaker spending on restaurants, and hotels. Those are often the first to go.On the upside, it's all about inflation. If growth and prices stay sticky, then the Fed could abandon the rate cutting bias and then we could run all the way up to 4.75%, though the upside would (IMO) be more pronounced if the inflation data continues to come in high and the Fed ignores it. This article was written by Adam Button at www.forexlive.com.

    Read more...
  • EUR/USD. Analysis for March 27th. The euro declines amid empty calendar

    Mar 27, 2024 | 08:25 am

    The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. Over the past year, we have only seen three-wave structures of a larger scale, which constantly alternate with each other. The construction of another three-wave structure continues - a downward one, which began on July 18 of last year. The presumed wave 1 is complete; wave 2 or b has been complicated three or four times but is now also complete.The uptrend phase may still resume, but its internal structure would be unreadable in this case. I strive to identify unambiguous wave structures that do not tolerate ambiguous interpretations. If the current wave analysis is correct, the market has moved on to forming wave 3 since December 28. At the moment, wave 2 in 3 or b is complete. If this is true, then the quote decline will continue. An unsuccessful attempt to break the level of 1.0956, which is equivalent to 50.0% according to Fibonacci, also indicates the completion of the corrective wave.Euro Maintains a Bearish SentimentThe EUR/USD pair rate declined by 15 basis points on Wednesday. The range of movements has become even lower compared to Monday, Tuesday, and the entire previous week. However, the news background was strong last week, while in the first three days of this week, the market did not receive any important news. ECB Governing Council members continue to hint at a rate cut in June in every possible way, but what's new in this information? Ms. Christine Lagarde announced two months ago that the regulator would have enough information in early summer to consider lowering interest rates. FOMC members continue to mention different dates suitable for the first easing, mentioning different numbers of easing rounds planned for 2024. But what's new in this information for the market?I prefer to rely on the Fed's official statement from March 20 soon. It was stated that achieving the target inflation rate is in doubt, and the number of planned rate cuts in 2025 has been reduced by one round. Everything indicates that the market has jumped too far ahead and has already managed to play out more rate cuts by the Fed than the American central bank originally planned. If this is the case (and it is), demand for the US currency should gradually increase, as the "hawkish" policy will continue much longer than the market expected.General ConclusionsBased on the analysis of EUR/USD, the construction of a bearish set of waves continues. Wave 2 or b has taken on a completed form, so I expect to continue building a downward impulsive wave 3 or c with a significant decline in the pair. I continue to consider sales with targets around the calculated mark of 1.0462, corresponding to 127.2% according to Fibonacci.On the senior wave scale, the presumed wave 2 or b, which by length was more than 61.8% according to Fibonacci from the first wave, may be complete. If this is the case, the scenario with the construction of wave 3 or c and a decline in the pair below the 4-figure level has begun to unfold.The main principles of my analysis:Wave structures should be simple and understandable. Complex structures are difficult to play out and often entail changes.If there is confidence in what is happening in the market, it is better to avoid entering it.There is never one hundred percent certainty in the direction of movement. Remember about Stop Loss protective orders.Wave analysis can be combined with other types of analysis and trading strategies.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Aussie yawns after inflation remains unchanged at 3.4%

    Mar 27, 2024 | 08:22 am

    The Australian dollar continues to drift. In the European session, AUD/USD is trading at 0.6529, down 0.06%. Australian CPI softer than expected Australia’s inflation rate stayed steady at 3.4% y/y in February, unchanged for a third straight month. This was just shy of the market estimate of 3.5% and is the lowest inflation rate since […]

    Read more...
  • AUDUSD sellers pushed below trend line support but failed in what is an up and down day

    Mar 27, 2024 | 07:58 am

    In the video above, I take a look at the AUDUSD from a technical perspective. This week, the price action has been up and down volatile. Today, the low was pressed with the price moving down to test a lower upward sloping trend line. That trend line was broken on 2 separate occasions. Each failed. The trend line cuts across near 0.6515. It would take a break below - and staying below - to increase the bearish bias today and going forward..On the top side this week, the price has been able to extend above both its 100-day moving average at 0.6549. Each of the two times the price has been able to extend above that level, the buyers have failed and the price has rotated back to the downside. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Trading Signals for EUR/USD on March 27-29, 2024: buy above 1.0803 (1/8 Murray - 21 SMA)

    Mar 27, 2024 | 07:49 am

    Early in the American session, the Euro is trading around 1.0818, below the 21 SMA, and below the 200 EMA under bearish pressure but showing signs of exhaustion.The key level for the euro that acts as a good support is 1/8 Murray around 1.0803. Above this area, we could look for opportunities to buy with the target at the 2/8 Murray resistance around 1.0864.Since March 25, the eagle indicator has been giving a positive signal. Thus, we believe that the euro could recover in the coming days, but to do so, it should consolidate above 1.0826 (21 SMA). Then, EUR/USD could gain momentum and reach 1.0857 and even the top of the downtrend channel around 1.0890.With a fall below 1.0770, the euro could continue its decline and could even reach 0/8 Murray at 1.0742. the ultimate bearish target is the key level of 1.0700.We believe that in the next few hours, the euro could resume its bullish cycle, but to do so, we could look for opportunities to buy at current price levels or above 1.0803. Below this area, we should avoid buying or should place a stop loss because a downward acceleration could occur.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Trading Signals for BITCOIN (BTC/USD) on March 27-29, 2024: buy above $70, 200 (3/8 Murray - 21 SMA)

    Mar 27, 2024 | 07:30 am

    Bitcoin is trading around the psychological level of $70,000, showing some consolidation having reached the top of the uptrend channel forming since March 19.A sharp break of the pennant pattern could cause an upward movement that could reach the $73,000 area. Once surpassed, the crypto could climb the psychological level of $75,000.At current price levels, we can look for opportunities to buy with targets at 72,042 and 72,800. On the contrary, a technical bounce around 3/8 Murray and the 21 SMA will be seen as an opportunity to buy with the target at 73,200.A drop below $68,000 could change Bitcoin's trend and we could expect a bearish continuation towards the bottom of the uptrend channel around 65,500.Technically, Bitcoin is showing signs of a strong upward trend which is mirrored by the eagle indicator. Therefore, any technical correction or rebound in the coming days will be seen as an opportunity to buy.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • USDCAD backs off from ceiling area again

    Mar 27, 2024 | 07:18 am

    The USDCAD moved up to retest the swing area between 1.36049 and 1.36269. The high price today reached near the low of that ranges at 1.36071 before rotating back to the downside. The price is trading near session lows nos at 1.3578. Going forward that ceiling area will need to be broken to increase the bearish bias. On the downside, the low for the week came in at 1.3552. That is above the 50% of the range since the 2023 high at 1.35378. Also on the downside is a cluster of moving averages between its 100 or moving average on the four hour chart at 1.3532, down to the 200 day moving average 1.3491.Although the price is near its highs going back to December 2023, the ceiling remains a key resistance level that gives the sellers against it some comfort and also control at least in the short term. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Trading Signals for GOLD (XAU/USD) on March 27-29, 2024: sell below $2,193 (6/8 Murray - 21 SMA)

    Mar 27, 2024 | 07:09 am

    Early in the American session, gold is trading around 2,185.08 above the 21 SMA and below 6/8 Murray. Gold could continue with the technical correction if in the next few hours consolidates below 2,196 - 2,187 then he could reach the weekly pivot point which coincides with the 21 SMA around 2,172.According to the H4 chart, we currently observe that gold is making a technical correction after reaching 2,196 during the European session, an area that coincides with the top of the bearish trend channel. It could exert strong pressure in the next few hours and we could expect a further fall which could be seen as an opportunity to sell with the target at 2,170.In case gold makes a technical rebound around the support of 2,272, we could buy. Above this level, we could look for the opportunity to buy, but given that the instrument is trading under bearish pressure, we should be very careful because a break below this area could accelerate the fall of gold and it could reach the bottom of the uptrend channel around 2,160 and could even reach the 2,140 level.Our trading plan for the next few hours is to sell below 2,193 in case there is a pullback towards this area. Then, it will be a good point to sell or buy if there is a technical bounce around 2,172 with targets at 2,200 and 2,218.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • GBP/USD Analysis: Continues Bearish Trend

    Mar 27, 2024 | 06:59 am

    According to the performance in the forex market, the British Pound has shown more flexibility against the Euro and the US Dollar, with the probability of interest rate cuts in June reaching 80%.

    Read more...
  • USDCHF continues its run to the upside as the buyers keep the momentum going

    Mar 27, 2024 | 06:30 am

    The USDCHF is running higher again after basing against its broken 38.2% retracement of the move dale from the 2022 hi. The retracement comes in at 0.90254. The low today was a few pips short of that level before buyers stepped in and pushed the price higher. Staying above 0.90254 keeps buyers in firm control. The next target comes in at 0.91185. That is the low of the swing area between 0.91185 to 0.91469. In this video, I take a look at the technicals (a some fundamentals), that are leading the USDCHF to the upside. This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • Crude oil inventories. USA, 16:30 (GMT+2)

    Mar 27, 2024 | 06:30 am

    At 16:30 (GMT+2), the US Department of Energy’s Energy Information Administration (EIA) will present a weekly report containing data on changes in the volumes of crude oil, as well as gasoline and distillates in the country. A correction from −1.952M barrels to −0.900M barrels is expected, putting pressure on the oil quotes. Read more

    Read more...
  • GBP/USD: trading scenarios on March 27, 2024

    Mar 27, 2024 | 06:03 am

    The results of the Bank of England's March meeting and comments from its leaders exerted pressure on the pound and the GBP/USD pair.The next day, the pair tested key support levels for a breakthrough: 1.2565 (200 EMA on the daily chart) and 1.2545 (50 EMA on the weekly chart), separating the medium-term bullish market from the bearish one. Subsequently, GBP/USD managed to recover somewhat, rising from a local low of 1.2510 to the resistance zone at levels 1.2674 (200 EMA on the 1-hour chart), 1.2680 (50 EMA on the daily chart), and 1.2689 (200 EMA on the 4-hour chart).However, the corrective potential dried up near the 1.2667 mark, and GBP/USD resumed its decline. Thus, as of this writing, it was trading near the 1.2632 mark, declining towards the important support level of 1.2600 (144 EMA on the daily chart).At the same time, technical indicators such as OsMA, RSI, and Stochastic on the daily and weekly charts are favoring sellers, signaling the advantage of short positions.A breakout below the key support level of 1.2600 could be the first signal for new medium-term short positions, with the breakout of key support levels of 1.2565 and 1.2545 confirming this.Moreover, below the key resistance level of 1.2725, GBP/USD is in the long-term bearish market zone, giving preference to long-term short positions.In an alternative scenario, if GBP/USD resumes its rise, it will again head towards the resistance zone near levels 1.2674, 1.2680, and 1.2690. Their breakout could trigger further growth towards the key resistance level of 1.2725. Its breakout, in turn, will lead the pair into the long-term bullish market zone, which would be the first signal for long-term long positions.For now, the advantage lies with the shorts.Support levels: 1.2600, 1.25656, 1.2545, 1.2500Resistance levels: 1.2674, 1.2680, 1.2689, 1.2700, 1.2725, 1.2800, 1.2830, 1.2860, 1.2890, 1.2900, 1.3000, 1.3100, 1.3140Trading Scenarios:Main scenario: Sell Stop 1.2590. Stop-Loss 1.2655. Targets 1.25656, 1.2545, 1.2500Alternative scenario: Buy Stop 1.2655. Stop-Loss 1.2590. Targets 1.2674, 1.2680, 1.2689, 1.2700, 1.2725, 1.2800, 1.2830, 1.2860, 1.2890, 1.2900, 1.3000, 1.3100, 1.3140"Targets" correspond to support/resistance levels. This also does not mean that they will necessarily be reached, but they can serve as a guide when planning and placing trading positions.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • GBPJPY Technical Analysis

    Mar 27, 2024 | 06:02 am

    GBPThe BoE left interest rates unchanged as expected but with Haskel and Mann this time voting for a hold instead of a hike. The employment report missed expectations with an uptick in the unemployment rate and an easing in wage growth.The UK CPI missed expectations across the board but with Services inflation remaining sticky, which continues to support the BoE’s patient stance.The latest UK PMIs showed the Services PMI missing expectations slightly and the Manufacturing PMI beating. The market expects the first rate cut in June.JPYThe BoJ finally exited the negative interest rates policy as expected raising interest rates by 10 bps bringing the rate to a target between 0.00-0.10%. Moreover, the central bank scrapped the yield curve control and the ETF purchases, while maintaining QE in place as expected. The latest Unemployment Rate remained unchanged hovering around cycle lows.The Japanese PMIs improved further for both the Manufacturing and Services measures although the former remains in contractionary territory.The Japanese wage data beat expectations by a big margin.The Japanese CPI came in line with expectations.The market expects another rate hike from the BoJ this year although the timing remains uncertain.GBPJPY Technical Analysis – Daily TimeframeOn the daily chart, we can see that GBPJPY got rejected by the upper bound of the rising channel and extended the drop as the BoE made another step towards rate cuts with the hawkish members changing their vote from a hike to a hold. From a risk management perspective, the buyers will have a much better risk to reward setup around the lower bound of the channel. GBPJPY Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price rejected the 38.2% Fibonacci retracement level and fell below the 191.00 support zone. The buyers will want to see the price rallying back above the support now turned resistance to position for a rally into the upper bound of the channel. The sellers, on the other hand, should continue to trade into the lower bound of the channel as long as the price stays below the Fibonacci level. GBPJPY Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the recent price action might have formed a head and shoulders pattern right around the Fibonacci level. The break below the support, which was also the neckline, might have been the confirmation of the pattern. If we get a pullback into the support turned resistance for a retest, we can expect the sellers to step in with a defined risk above the resistance to position for a drop into the lower bound of the channel. The buyers, on the other hand, will want to see the price rising above the resistance to start targeting new highs. Upcoming EventsToday we have Fed’s Waller speaking. On Thursday, we get the latest US Jobless Claims figures, while on Friday we conclude with the Tokyo CPI, the US PCE and Fed Chair Powell. This article was written by FL Contributors at www.forexlive.com.

    Read more...
  • Kickstart the FX trading day for March 27 w/a technical look at EURUSD, USDJPY and GBPUSD

    Mar 27, 2024 | 06:01 am

    Kickstart your FX trading day with a technical look at the three major currency pairs - the EURUSD, USDJPY and GBPUSD. For the EURUSD, the pair rose on Monday and Tuesday in the process pulled up toward its 100-day moving average at 1.0865 area. Sellers leaned against the level yesterday pushing the price back down, and back below its 50% midpoint of the move up from the February low and its 200-day moving average both near 1.0837. In trading today, the price stayed below those levels, keeping the sellers more in control. It would take a move above 1.08374 to shift the bias back to the upside.For the USDJPY, the pair moved to and above the highest levels going back to 1990 with a break of the 2023 high at 151.91 to 151.945. The high reached 151.967 and rotated lower. The price is back below the 100 hour MA at 151.43 which is now close resistance. . On the downside, a swing area between 150.718 to 150.88 including the rising 200-hour MA are the next targets to get thoa dn through to increase the bearish bias. The GBPUSD is back down testing the low swing area between 1.2594 to 1.26137, but is also below the 100 day MA at 1.26396. Staying below the 100-day MA keeps the sellers in play/in control, but it will also take a move below 1.2594 to increase the bearish bias (have to stay below that level). This article was written by Greg Michalowski at www.forexlive.com.

    Read more...
  • EUR/USD Mid-Day Outlook

    Mar 27, 2024 | 05:57 am

    Daily Pivots: (S1) 1.0816; (P) 1.0840; (R1) 1.0856; More… Outlook in EUR/USD remains unchanged as consolidations continue above 1.0801. Intraday bias remains neutral and But risk will stay on the downside as long as 55 4H EMA (now at 1.0855) holds. Below 1.0801 will resume the fall from 1.0980 to retest 1.0694 first. Break there […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • GBP/USD Mid-Day Outlook

    Mar 27, 2024 | 05:50 am

    Daily Pivots: (S1) 1.2611; (P) 1.2639; (R1) 1.2657; More… No change in GBP/USD’s outlook as consolidation continues above 1.2574. Intraday bias stays neutral and risk remains on the downside as long as 55 4H EMA (now at 1.2675) holds. Below 1.2574 will resume the fall from 1.2892 to 1.2517 structural support first. Decisive break there […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • USD/CHF Mid-Day Outlook

    Mar 27, 2024 | 05:47 am

    Daily Pivots: (S1) 0.9004; (P) 0.9024; (R1) 0.9060; More…. USD/CHF’s rally continues today and met 100% projection projection of 0.8550 to 0.8884 from 0.8728 at 0.9062 already. Intraday bias remains on the upside at this point. Sustained trading above 0.9062 will target 0.9243 key medium term resistance next. On the downside, below 0.8964 minor support […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • USD/JPY Mid-Day Outlook

    Mar 27, 2024 | 05:40 am

    Daily Pivots: (S1) 151.13; (P) 151.35; (R1) 151.64; More… Intraday bias in USD/JPY is turned neutral gain as it retreated after edging higher to 151.96. On the downside, break of 150.25 support should confirm short term topping, and turn bias back to the downside for 55 D EMA (now at 148.93). Nevertheless, sustained break of […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex.

    Read more...
  • USD/JPY: Simple trading tips for novice traders on March 27th (US session)

    Mar 27, 2024 | 05:20 am

    Trade analysis and tips for trading the Japanese yenThe test of the price at 151.59 occurred when the MACD started moving down from the zero mark, confirming the entry point for selling the dollar. As a result, this led to a decline in the pair to the target level of 151.10, allowing them to pull out of the market with about 40 points of profit. Considering the absence of significant fundamental statistics for the US in the second half of the day, it is accepted that pressure on the dollar will persist - especially after an unsuccessful attempt to rise towards the annual maximum during the European session today. As for the intraday strategy, I will rely more on scenarios 1 and 2.Buy SignalScenario 1: Today, I plan to buy USD/JPY when the entry point reaches around 151.32 (green line on the chart), with a target of rising to 151.89 (thicker green line). At around 151.89, I will exit purchases and open sales in the opposite direction (expecting a movement of 30-35 points in the opposite direction from the level). Counting on the pair's rise today will only be possible after breaking through 151.32 and active actions by dollar buyers at this level. Important! Before buying, ensure the MACD indicator is above the zero mark and just starting to rise from it.Scenario 2: I also plan to buy USD/JPY today in case of two consecutive tests of the price at 151.01 when the MACD indicator is in oversold territory. This will limit the downward potential of the pair and lead to a reversal of the market upwards. Expect a rise to the opposite levels of 151.32 and 151.89.Sell SignalScenario 1: Today, I plan to sell USD/JPY after updating the level of 151.01 (red line on the chart), leading to a rapid decline in the pair. The key target for sellers will be 150.61, where I will exit sales and immediately open purchases in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Pressure on the pair will persist in case of unsuccessful growth and the return of buyers to the market, which will lead to a breakthrough of the lower boundary of a wider sideways channel. Important! Before selling, make sure that the MACD indicator is below the zero mark and just starting to decline.Scenario 2: I also plan to sell USD/JPY today in case of two consecutive tests of the price at 151.32 when the MACD indicator is in overbought territory. This will limit the upward potential of the pair and lead to a reversal of the downward market. Expect a decline to the opposite levels of 151.01 and 150.61.What's on the chart:Thin green line – entry price at which the trading instrument can be bought;Thick green line – the expected price where you can set Take profit or manually take profits, as further growth above this level is unlikely;Thin red line – entry price, at which the trading instrument can be sold;Thick red line – the expected price where you can set Take profit or manually take profits, as further decline below this level is unlikely;MACD indicator. When entering the market, following the overbought and oversold zones is important.Important. Beginner traders in the Forex market must be careful when making entry decisions. It is best to stay out of the market before important fundamental reports are released to avoid being caught in sharp exchange rate fluctuations. If you decide to trade during news releases, always place stop orders to minimize losses. You can quickly lose your deposit without placing stop orders, especially if you do not use money management and trade in large volumes.And remember, for successful trading, you need to have a clear trading plan similar to the one I presented above. Spontaneous trading decisions based on the current market situation are inherently a losing strategy for an intraday trader.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • GBP/USD: Simple trading tips for novice traders on March 27th (US session)

    Mar 27, 2024 | 05:15 am

    Trade analysis and tips for trading the British poundThe test of the price at 1.2628 in the first half of the day occurred when the MACD had risen significantly above the zero mark, limiting the further downward potential of the pair. For this reason, I did not buy the pound. Sometime later, there was another similar test, and the MACD was starting to move up from the zero mark, allowing entry into the market, but there was no significant upward movement. About 10 points and demand for the pound decreased. Considering that there is no data on the US in the second half of the day, the pound's rise may continue, but be careful with purchases at the daily maximum. The absence of buyer activity can lead to a pair reversal and rapid decline. As for the intraday strategy, I will rely more on scenarios 1 and 2.Buy SignalScenario 1: Today, I plan to buy the pound when the entry point reaches around 1.2645 (green line on the chart), with a target of rising to 1.2675 (thicker green line). At around 1.2675, I will exit purchases and open sales in the opposite direction (expecting a movement of 30-35 points in the opposite direction from the level). The pound's rise today can be expected to continue the morning trend, but active buyer actions are needed. Important! Before buying, ensure the MACD indicator is above the zero mark and just starting to rise from it.Scenario 2: I also plan to buy the pound today in case of two consecutive tests of the price at 1.2623 when the MACD indicator is in oversold territory. This will limit the downward potential of the pair and lead to a reversal of the market upwards. Expect a rise to the opposite levels of 1.2645 and 1.2675.Sell SignalScenario 1: Today, I plan to sell the pound after updating the level of 1.2652 (red line on the chart), leading to a rapid decline in the pair. The key target for sellers will be the level of 1.2622. I will exit sales and immediately open purchases in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Sellers will show themselves only against strong US consumer confidence data. Important! Before selling, make sure that the MACD indicator is below the zero mark and just starting to decline.Scenario 2: I also plan to sell the pound today in case of two consecutive tests of the price at 1.2671 when the MACD indicator is in overbought territory. This will limit the upward potential of the pair and lead to a reversal of the downward market. Expect a decline to the opposite levels of 1.2652 and 1.2622.What's on the chart:Thin green line – entry price, at which the trading instrument can be bought.Thick green line – the expected price where you can set Take Profit or manually take profits, as further growth above this level is unlikely.Thin red line – entry price at which the trading instrument can be sold.Thick red line – the expected price where you can set Take Profit or manually take profits, as further decline below this level is unlikely.MACD indicator. When entering the market, following the overbought and oversold zones is important.Important. Beginner traders in the forex market must be careful when making entry decisions. It is best to stay out of the market before important fundamental reports are released to avoid being caught in sharp exchange rate fluctuations. If you decide to trade during news releases, always place stop orders to minimize losses. You can quickly lose your deposit without placing stop orders, especially if you do not use money management and trade in large volumes.And remember, for successful trading, you need to have a clear trading plan, similar to the one I presented above. Spontaneous trading decisions based on the current market situation are inherently a losing strategy for an intraday trader.The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • Pressure on EUR and GBP returns

    Mar 27, 2024 | 05:10 am

    The euro resumed falling, as did the British pound. The statements of the representatives of the Federal Reserve, although not immediately, affected traders' appetite for risky assets. According to Lisa Cook, one of the governors of the Federal Reserve, the US Central Bank should take a cautious approach to lowering interest rates in order to give more time to slow inflation in some segments of the economy. Notably, the Fed, at its meeting last week, left rates unchanged at the highest level seen in the last twenty years. Officials also maintained their forecast of three rate cuts this year, which was interpreted in favor of easing policy, especially after Fed Chairman Jerome Powell said that the recent inflation spike was of little concern to him. Now, nine out of 19 Fed officials expect two rate cuts or less in 2024, with two of those officials predicting no change in rates at all."The risks to achieving our employment and inflation goals are moving into better balance," Cook said during a speech at an economics lecture at Harvard University. "Nonetheless, fully restoring price stability may take a cautious approach to easing monetary policy over time." Notably, the US economy continues to surprise analysts with its strength despite high borrowing costs. The labor market is also showing stability, with an average of 231,000 jobs created during the past six months. Last week, Fed officials revised their 2024 economic growth forecast to 2.1% from 1.4% in December. Meanwhile, a key gauge of inflation for February beat economists' expectations, rising more than anticipated. That pushed back market expectations for the first rate cut, which investors now expect to come in June. "The path of disinflation, as expected, has been bumpy and uneven, but a careful approach to further policy adjustments can ensure that inflation will return sustainably to 2 percent while striving to maintain the strong labor market," Cook said at Harvard University. Obviously, as long as the economy is strong, GDP continues to grow, albeit not as vigorously, companies are hiring, and people have jobs, it is unlikely that the regulator will be in a hurry to make policy changes. This creates the main prerequisites for the medium-term strengthening of the US dollar against a number of risky assets. As for the current technical picture of EUR/USD, demand for the euro decreased. Now, buyers need to think about taking the levels of 1.0835 and 1.0870. Only this will allow them to test 1.0905. From there, it is possible to climb to 1.0940, but it will be quite difficult to do this without support from the big players. The farthest target will be the high of 1.0980. In case of a decline, I expect any serious action from the big buyers to be around 1.0805. If there is no one there, it would be good to wait for an update of the 1.0760 low or open long positions from 1.0730. As for the current technical picture of GBP/USD, bears are about to take full control over the market. Therefore, bulls need to take the nearest resistance at 1.2625. This will allow targeting 1.2665. It will be difficult to break through above that point. The farthest target is seen at 1.2710, after which we can talk about a sharper rise up to 1.2760. In case of a deeper fall of the pair, bears will try to take control of 1.2575. If they succeed, a breakdown of the range will deal a serious blow to the bulls' positions and push GBP/USD to the 1.2535 low with the prospect of sliding to 1.2500. The material has been provided by InstaForex Company - www.instaforex.com

    Read more...
  • USD/JPY Analysis: Strong Move Ahead

    Mar 27, 2024 | 04:32 am

    As mentioned before, the upward trend for the USD/JPY pair will remain intact.

    Read more...
  • EUR/USD Analysis: Tight Range Trading

    Mar 27, 2024 | 04:24 am

    Amid a holiday-dominated trading week with only the Fed's favorite inflation reading to watch, the EUR/USD currency pair is moving in tight ranges with a bearish bias.

    Read more...
  • USD/JPY slides to lowest level since 1990

    Mar 27, 2024 | 04:18 am

    The Japanese yen has edged higher on Wednesday. In the European session, USD/JPY is trading at 151.17, down 0.26%. Yen falls to 34-year low, will Tokyo intervene? The Bank of Japan raised interest rates last week for the first time since 2007. The move marked a sea-change in monetary policy. However, the tightening has not […]

    Read more...
  • Gold Analysis: Attempts to Break $2200

    Mar 27, 2024 | 03:48 am

    Despite the holidays, low liquidity, and wait-and-see mode, gold prices moved to the historical psychological resistance level of $2200 per ounce during yesterday's trading before stabilizing around $2178 per ounce at the start of a very quiet trading day.

    Read more...
  • NASDAQ Forecast: Looking for Next Move

    Mar 27, 2024 | 02:02 am

    As you can see, the NASDAQ 100 has shown itself to be somewhat dead money over the last couple of days as we are trying to sort out what to do next.

    Read more...
  • Consumer confidence. EU, 12:00 (GMT+2)

    Mar 27, 2024 | 02:00 am

    At 12:00 (GMT+2), March EU consumer confidence index will be published based on a survey of 2.3K households that assess the prospects of the economy. It is a leading indicator for consumer spending, with high readings indicating consumer optimism and vice versa. It is expected that the March indicator will consolidate at –14.9 points, putting pressure on the euro. Read more

    Read more...
  • Silver Forecast: Eyes Stability at $24.50

    Mar 27, 2024 | 01:37 am

    Silver has gone back and forth during the trading session on Tuesday, as we continue to hang around the $24.50 level.

    Read more...
  • S&P 500 Forecast: Seeing Sideways Action

    Mar 27, 2024 | 01:29 am

    The S&P 500 was a bit choppy early during the trading session on Tuesday as we continue to look to the upside.

    Read more...
  • USD/CAD Analysis: Incremental Higher Price Action and a Wider Range

    Mar 27, 2024 | 01:29 am

    The USD/CAD is near the 1.35935 price as of this writing and continues to show an ability to incrementally climb higher.

    Read more...
  • BTC/USD Forecast: Navigating New Highs

    Mar 27, 2024 | 01:22 am

    Bitcoin seemed a bit stagnant during the early hours on Tuesday after shooting straight up in the air on Monday.

    Read more...
  • NZD/USD Analysis: Lows Touched as Important U.S Data Looms on Horizon

    Mar 27, 2024 | 01:20 am

    The NZD/USD has continued to incrementally linger near lows and signal that bearish behavioral sentiment remains the dominant force within the currency pair.

    Read more...
  • ZEW economic expectations. Switzerland, 11:00 (GMT+2)

    Mar 27, 2024 | 01:00 am

    At 11:00 (GMT+2), the Swiss March Economic Expectations Index from the Center for European Economic Research (ZEW) will be published, recording the difference between the proportion of institutional investors and analysts who are optimistic and pessimistic, and is an important indicator of business and economic conditions and well-being of the country. If the indicator continues its upward trend from the current 10.2 points, it may support the franc. Read more

    Read more...
  • GBP/JPY Daily Outlook

    Mar 26, 2024 | 23:36 pm

    Daily Pivots: (S1) 191.09; (P) 191.39; (R1) 191.67; More….. Intraday bias in GBP/JPY remains neutral for the moment. More consolidations could be seen but outlook will stay bullish as long as 187.94 support holds. On the upside, break of 193.51 will resume larger up trend to 61.8% projection of 178.32 to 191.29 from 187.94 at […] The post GBP/JPY Daily Outlook appeared first on Action Forex.

    Read more...
  • Monthly consumer price index. Australia, 02:30 (GMT+2)

    Mar 26, 2024 | 16:30 pm

    At 02:30 (GMT+2), the Reserve Bank of Australia (RBA) will publish data on the weighted average consumer price index for February – one of the approaches to estimating core inflation, which is determined by the median price. The figure may adjust from 3.40% to 3.50% MoM, supporting the Australian dollar. Read more

    Read more...
  • API weekly crude oil stocks. USA, 22:30 (GMT+2)

    Mar 26, 2024 | 12:30 pm

    At 22:30 (GMT+2), a weekly report on the amount of oil reserves, gasoline, and distillate volumes from the American Petroleum Institute (API) will be published. Previously, the statistics recorded a correction to –1.519M barrels, and the trend continuation may support oil prices. Read more

    Read more...
  • USD/JPY shrugs after BoJ core inflation dips

    Mar 26, 2024 | 08:26 am

    The Japanese yen continues to have a quiet week. In the North American session, USD/JPY is trading at 151.36, down 0.03%. BoJ core inflation eases to 2.3% Bank of Japan core inflation fell to 2.3% in February, down from 2.6% in January and shy of the market estimate of 2.5%. The release further complicates the […]

    Read more...
  • CB consumer confidence. USA, 16:00 (GMT+2)

    Mar 26, 2024 | 06:00 am

    At 16:00 (GMT+2), the March consumer confidence index from the Conference Board will be published in the United States. It is based on a survey of 5.0K American households and considers their vision of the current and future economic situation. It is a leading indicator that predicts consumer spending that is part of economic activity. The value is expected to rise from 106.7 points to 106.9 points, supporting the American dollar. Read more

    Read more...
  • Durable goods orders. USA, 14:30 (GMT+2)

    Mar 26, 2024 | 04:30 am

    At 14:30 (GMT+2), US February data on the volume of orders for durable goods with a service life of more than three years will be published. The indicator is a leading one of industrial activity. Total orders in February are expected to adjust from –6.2% to 1.2% and core orders from –0.4% to 0.4%, supporting the American dollar. Read more

    Read more...
  • Australian dollar edges higher, CPI next

    Mar 26, 2024 | 04:11 am

    The Australian dollar has extended its gains on Tuesday. In the European session, AUD/USD is trading at 0.6557, up 0.26%. On today’s data calendar, the US will release two tier-1 events. Durable goods orders are expected to rebound with a 1.1% gain in February, after a 6.1% slide in January. The Consumer Board consumer confidence […]

    Read more...
  • CHF/JPY Technical: On the brink of a potential major bearish breakdown (CHF weakness)

    Mar 26, 2024 | 01:55 am

    The surprise rate cut by SNB has reinforced the bearish momentum of CHF/JPY. CHF has weakened across the board against the G-10 currencies; it is the weakest against the EUR. Watch the 169.00 key short-term resistance on CHF/JPY with key support coming in at 166.55. This is a follow-up analysis of our prior report, “CHF/JPY […]

    Read more...
  • GfK consumer climate. Germany, 09:00 (GMT+2)

    Mar 25, 2024 | 23:00 pm

    At 09:00 (GMT+2), April data on the consumer climate index from GfK Group will be published in Germany. The indicator assesses the degree of confidence in the strength of the economy and is a leading indicator of household spending. The negative dynamics are expected to slow down from −29.0 points to −27.8 points, still putting pressure on the euro. Read more

    Read more...
  • Market Insights Podcast – Currency war risk, US PCE, AU monthly CPI on the watch

    Mar 25, 2024 | 19:04 pm

    OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week’s key economic data and events. A relatively quieter week versus last week’s  major central banks’ galore as we head into the Easter holiday with several key events and economic data to take note. Firstly, risk of currency war is lingering around the […]

    Read more...
  • USD/JPY drifting at start of week

    Mar 25, 2024 | 07:29 am

    The Japanese yen is showing limited movement on Monday. In the North American session, USD/JPY is trading at 151.25, down 0.13%. Yen can’t find its footing Last week’s Bank of Japan was dramatic as the central bank raised interest rates for the first time since 2007. The move did not catch the markets completely by […]

    Read more...
  • New home sales. USA, 16:00 (GMT+2)

    Mar 25, 2024 | 06:00 am

    At 16:00 (GMT+2), February data on home sales on the primary market will be published in the United States. The indicator records the number of new residential buildings sold during the past month and is one of the most important indicators of the American construction market. The value is expected to increase from 661.0K to 680.0K, supporting the American dollar. Read more

    Read more...
  • Australian dollar stabilizes, consumer sentiment next

    Mar 25, 2024 | 04:15 am

    The Australian dollar has started the week with slight gains, after sliding 0.86% on Friday. In the European session, AUD/USD is trading at 0.6530, up 0.24%. PBoC move sends Aussie sharply lower The Australian dollar ended the week with sharp losses after China’s central bank set the daily fixing of the Chinese yuan lower than […]

    Read more...
  • Building permits. USA, 14:00 (GMT+2)

    Mar 25, 2024 | 04:00 am

    At 14:00 (GMT+2), the US will publish data on the number of building permits issued. The indicator records monthly changes in the number of applications registered by the American government for the construction of real estate and is one of the most important indicators of the sector. The value is expected to adjust from 1.489M to 1.518M, supporting the American dollar. Read more

    Read more...
  • Hang Seng Index: Potential currency war may kick start another bearish leg

    Mar 25, 2024 | 00:56 am

    A less dovish Fed with a surprise cut by SNB has triggered a bout of US dollar strength since last Thursday, 21 March. China’s central bank, PBoC responded with a lower-than-expected daily fixing on the onshore yuan (CNY) last Friday, 22 March which led the offshore yuan (CNH) to plunge by -0.8% against the US […]

    Read more...
  • Leading index. Japan, 07:00 (GMT+2)

    Mar 24, 2024 | 21:00 pm

    At 07:00 (GMT+2), Japan will publish an index of leading economic indicators, including an assessment of twelve indicators, such as orders in mechanical engineering and stock prices. The value is likely to be adjusted from 110.2 points to 109.9 points MoM, putting pressure on the yen. Read more

    Read more...
  • Baker Hughes oil rig count. USA, 19:00 (GMT+2)

    Mar 22, 2024 | 09:00 am

    At 19:00 (GMT+2), data on the number of active oil rigs from Baker Hughes will be published. The weekly report records changes in oil production capacity in the United States. The number of towers last rose to 510, and a continuation of this trend may put pressure on oil prices. Read more

    Read more...
  • Cdn. dollar dips as retail sales disappoint

    Mar 22, 2024 | 06:24 am

      The Canadian dollar has extended its losses on Friday. USD/CAD is trading at 1.3569 in the North American session, up 0.29%. Canada’s retail sales slip in January Canada’s retail sales fell 0.3% m/m in January, revised from the earlier estimate of -0.4% and well off the 0.9% gain in December. The decline was driven […]

    Read more...
  • Fed’s chairman Powell speaks. USA, 15:00 (GMT+2)

    Mar 22, 2024 | 05:00 am

    At 15:00 (GMT+2), the head of the US Federal Reserve System (US Fed), Jerome Powell, will give a speech. The official can share his vision of the current situation in the American economy against ongoing geopolitical tensions and hint at the regulator’s further actions in the monetary policy. Read more

    Read more...
  • Retail sales. Canada, 14:30 (GMT+2)

    Mar 22, 2024 | 04:30 am

    At 14:30 (GMT+2), January data on retail sales will be presented in Canada. The indicator monthly records the volume of all goods sold by retailers based on a sample of stores of different types and sizes. It is an important indicator of consumer spending and has a significant impact on gross domestic product (GDP). The January figure is expected to correct from 0.9% to –0.4% and the core value from 0.6% to –0.5%, putting pressure on the Canadian dollar. Read more

    Read more...
  • Pound drops to 1-month low after flat retail sales

    Mar 22, 2024 | 03:07 am

    The British pound has extended its losses on Friday. In the European session, GBP/USD is trading at 1.2600, down 0.45%. Earlier, the pound fell as low as 1.2584, its lowest level since March 20. UK retail sales unchanged in February UK retail sales were flat in February, after a revised 3.6% gain (m/m) in January. […]

    Read more...
  • CBI industrial trends. UK, 13:00 (GMT+2)

    Mar 22, 2024 | 03:00 am

    At 13:00 (GMT+2), March data on the index of industrial orders from the Confederation of British Industry (CBI) will be published in the UK. The indicator is calculated based on a survey of representatives of leading British enterprises and is an important indicator of the state of business in the country. The index may stay at −20.0 points. Read more

    Read more...
  • Business expectations. Germany, 11:00 (GMT+2)

    Mar 22, 2024 | 01:00 am

    At 11:00 (GMT+2), the March index of business expectations in Germany will be published, which measures business sentiment and business conditions in the country through a survey of representatives of 7.0K companies. An increase is predicted from the current 84.1 points to 84.6 points, supporting the euro. Read more

    Read more...
  • IFO business climate. Germany, 11:00 (GMT+2)

    Mar 22, 2024 | 01:00 am

    At 11:00 (GMT+2), the March German business climate index from the Institute for Economic Research (IFO), based on a survey of managers of 7.0K enterprises in the manufacturing industry, construction sector, wholesale and retail trade, will be published. The value is expected to increase from 85.5 points to 85.9 points, supporting the euro. Read more

    Read more...
  • Swiss franc slides after SNB lowers rates

    Mar 21, 2024 | 11:10 am

    The Swiss franc has tumbled on Thursday after the Swiss National Bank lowered interest rates. In the North American session, USD/CHF is trading at 0.8987, up 1.35% on the day. Earlier, the Swiss franc fell as low as 0.8994, its lowest level since November 23. SNB surprises with 0.25% rate cut There has been plenty […]

    Read more...
  • Pound edges lower ahead of BoE meeting

    Mar 21, 2024 | 04:09 am

    The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2766, down 0.16%. BoE expected to hold rates The markets will shift focus from the Federal Reserve, which maintained rates on Wednesday, to the Bank of England, which is holding its rate meeting later today. The BoE is widely […]

    Read more...
  • Cdn. dollar falls to three-month low as CPI slows

    Mar 20, 2024 | 07:57 am

    USD/CAD is trading at 1.3580 in the North American session, up 0.10%. The Canadian dollar is under pressure and dropped to a 3-month low on Tuesday, following Canada’s CPI release. Canada’s CPI falls to 2.8% Canada’s inflation rate continues to head lower and fell to 2.8% y/y in February. This was lower than the January […]

    Read more...
  • GBP/USD dips as UK inflation lower than expected

    Mar 20, 2024 | 04:11 am

    The British pound has extended its losses on Wednesday. In the European session, GBP/USD is trading at 1.2695, down 0.21%. The pound has been on a slide and is down about 1.2% since March 13. UK inflation falls by 3.4% Households in the UK haven’t had much to smile about when it comes to the […]

    Read more...
  • Gold Technical: A potential minor corrective pull-back in play as FOMC looms

    Mar 20, 2024 | 03:52 am

    Gold (XAU/USD) has traded in a tight range of 2% in the past two weeks after it printed a fresh all-time high of US$2,195 on 8 March. The biggest risk event for today will be the latest Fed FOMC’s dot plot projection on the trajectory of its Fed funds rate; a reduction to two cuts […]

    Read more...
  • USD/JPY soars as BoJ scraps negative rates

    Mar 19, 2024 | 07:51 am

    The Japanese yen has taken a tumble on Tuesday. In the North American session, USD/JPY is trading at 150.67, up 1.02%. BoJ lifts rates, end yield curve control The Bank of Japan hiked interest rates for the first time since 2007 at today’s meeting and also abolished the yield control curve to target interest rate […]

    Read more...
Add a Comment!“We encourage you to join the conversation! If you have any questions, ideas, or thoughts related to this article, Please Leave a Comment Below!
 

Comments

TradingVortex.com® 2019 © All Rights Reserved.