A surprisingly hawkish BoC might provide further support to Loonie – Commerzbank
Canadian Consumer Price Index (CPI) growth slowed further in December. Loonie rose after the data. A hawkish Bank of Canada next week could provide furthe support. CAD stronger following publication of inflation data “Even though the overall rate eased a little more than expected to 6.3% (Bloomberg 6.4%), and the core rates (median and trim) […]
125.85/124.00 could be next significant support zone – SocGen
USD/JPY accelerates the downfall to 128.00. The pair could dive as low as 124.00, economists at Société Générale report. Channel at 134/134.80 should cap short-term upside “Daily MACD has flattened recently however signals of an extended bounce are not yet visible.” “The pair is likely to drift towards next projections at 128 and 126.80. Peak […]
The Difference Between Price Action Event Zones and Support & Resistance Levels » Learn To Trade The Market
Two of the primary features of any price chart that are critical components for any price action trader to thoroughly understand, are support & resistance levels and price action event zones. You are probably more familiar with “support and resistance levels” since they are one of the more basic technical analysis concepts and are pretty […]
USD Grinds Support as EUR/USD Tests Resistance
CPI Talking Points: Recommended by James Stanley Get Your Free USD Forecast While Friday’s NFP report was a mixed bag, the PMI report that followed was not. Services PMI printed at its lowest level since March of 2020 and in contractionary territory. This is sign of continued impact from the Fed’s rate hikes last year […]
USDNOK Can Break Lower When US Stocks Finds A Support
In today’s advanced #ElliottWave analysis, Gregor dives into the five most interesting opportunities for the week ahead! Watch how he analyses #equities, #FXMajors, and #Commodities and discover how he applies EW principles to come up with his amazing forecasts! Timestamps USDNOK 02:30 EURUSD 06:00 EURGBP 07:10 DAX 08:05 XAGUSD 09:40 The post USDNOK Can Break […]
US Dollar Support Breakout Remains Lackluster After Powell Speech, Focus on CPI
US Dollar, DXY, Fed Outlook, Jerome Powell, CPI – Asia Pacific Market Open US Dollar flat as Jerome Powell offers no new meaningful updates The DXY Dollar Index support breakout has been lackluster so far Australian Dollar now eyeing local monthly inflation gauge next Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market […]
S&P 500, Nasdaq, Dow Jones Forecast: Support Bounces in-Play
Indices Talking Points: Yesterday’s sell-off ran down to supports in the S&P 500, Nasdaq and Dow. Prices held that support earlier in today’s session before pushing a rally in the afternoon. The stage is still setting for the CPI report set to be released on Thursday morning. The analysis contained in article relies on price […]
US Dollar Sinks to Support After PMIs: CPI Data Ahead
US Dollar Talking Points: The US Dollar started the year with a subtle show of strength but that was soundly rebuked on Friday after the release of PMI numbers. The big US driver for this week is CPI which is set to be released on Thursday. Markets are looking for a move down to 6.5% […]
Refreshes multi-day low as bears approach 6.7650 support
USD/CNH drops to the lowest levels since August 17, 2022. Clear break of 200-DMA, bearish MACD signals favor sellers as they eye two-month-old descending support line. Previous support line from June adds to the upside filters. USD/CNH takes offers to renew a multi-day low around 6.7900 heading into Monday’s European session. In doing so, the […]
ForexLive Asia-Pacific FX news wrap: China reopening, property support, & Goldilocks NFP
Forex news for Asian trading on Monday, 9 January 2023 Trade ideas thread – Monday, 9 January 2023 Federal Reserve study shows consumption reacts to bad economic news, but not to good news Proportion of manufacturers who think the UK is competitive halved from a year ago Fitch revise corporate revenues expectations lower – slower […]