EUR/USD, “Euro vs US Dollar”
After forming the first ascending impulse towards 1.0825 and completing the correction at 1.0720, EURUSD has returned to 1.0825; right now, it is forming a new consolidation range around the latter level. Possibly, the pair may start the second ascending impulse to reach
It’s getting even uglier.
Friday markets had their best day since 2008. And it seemed like maybe the worst was behind us.
But over the weekend, news of restaurant closures, business closures, more public meetings and events getting canceled (all because of COVID-19) had traders worried.
Then on Sund
Bloomberg's US Financial Conditions Index, a measure of stress in the markets, has deteriorated to -2.882, its worst level since the great financial crash of 2008/09.
The decline will put pressure on the Federal Reserve to cut rates by 50 basis points next week. The central bank delivered a 50 basis
WTI seesaws around the 13-month low.
Coronavirus-led likely reduction in demand keeps weighing on the energy prices.
Geopolitical tension between Turkey and Syria, Saudi Arabia’s push for production cut offers intermediate pullbacks.
WTI bears dominate near $46.60, down 0.30%, during the early trad
WTI bounces off the two-week low.
The monthly rising support line restricts immediate declines.
23.6% Fibonacci retracement adds to the resistance.
WTI recovers 0.70% to $51.67 during the Asian session on Tuesday. That said, black gold recently bounced off the monthly support line and is currently
If we look at the daily chart of AUDCHF we can see that the price has broken through Kijun Sen and opened the weekly session above this support level. Tenkan Sen is upward sloping suggesting strong buying momentum behind the move. Additionally, Tenkan Sen is converging with Kijun Sen. We would be lo
Yen and Swiss Franc weakened notably as imminent US-Iran war receded. Canadian Dollar also turned slightly softer as oil prices reversed this week’s gains. Dollar is currently trying to ride on the development to extend recent rebound. But the real will probably lie in tomorrow’s non-farm payroll re
Georgette Boele, Precious Metals Strategist at ABN AMRO, suggests that they are of the opinion that platinum is not the new gold as Platinum lacks the liquidity that gold has, it is not held by central banks in their official reserves, and it has fewer “currency” drivers (less sensitive on the US do
Open interest in EUR futures markets shrunk by nearly 1.5K contracts on Monday, reaching the sixth consecutive pullback. In the same line, volume reversed to builds in a row and dropped by almost 83.1K contracts.
EUR/USD ready to resume the up move?
Negative price action at the beginning of the week
The Yen has been on the rise amid a backdrop of convulsing stock markets. Yesterday's FOMC minutes rekindled a risk-off vibe for the simple lack of a signal that the Fed's July rate cut was the start of an easing cycle. Fed Chair Powell will have opportunity to refine the central bank's guidance at
We're focusing on technical analysis in this article with a description of some of the important indicators
We could say, all wealthy traders use technical analysis but not all technical analysis traders are wealthy although technical analysis (TA) is the most precise way of trading the Forex marke
At 5.00 am ET Wednesday, Eurostat publishes Eurozone GDP, inflation and unemployment figures for the second quarter. The economy is forecast to grow 0.2 percent on quarter, slower than the 0.4 percent expansion in the first quarter. Flash inflation is expected to ease slightly to 1.1 percent in July
The Canadian dollar fell 0.92 percent against the US dollar in the last five trading sessions. The loonie is trading at 1.3180 versus the USD after the GDP data lifted the American currency higher by beating expectations. The data shows a slowdown of the US economy, but the fact that consumer spendi
A slight risk-off bias
It was a slow start to the week with risk appetite taking a slight downturn across the board. Equity markets edged lower after Friday’s gains, with the US indices sliding between 0.06% and 0.12%. The HongKong33 under-performed following more anti-government demonstrations over
Brutally honest letter as Equinox Energy Fund closes
I don't know if I've ever seen a hedge fund letter quite as painful as this one. It's no secret that energy stocks have had a brutal year. Even with WTI crude prices up 24% year-to-date, many stocks in the energy space are down and indexes in the