The British pound has rallied rather significantly against the Swiss Franc as it looks like we are continuing to try to do something about the bullish flag that we had been in for a while. Ultimately this is a market that I think will continue to be very noisy but at the end of the day we also have a situation where if we can get above the 50 day EMA, the market can certainly take off to the outside, perhaps really pick up a lot of momentum. This will be especially true based on the measured move as technical traders could be looking at an attempt to get all the way back to the highs in the 1.1650 region. Keep in mind, this is a market that h...
Today you will see GOLD price prediction based on the technical analysis. What is the support and resistance on the daily time frame for XAUUSD. What to expect where the price will breakout for the XAUUSD based on the supply and demand zones.Video Length: 00:02:58Â Â More By This Author:Gold Reached 2525.80, Next Move Follows, XAUUSD Analysis & XAUUSD Forecast GOLD Targeting Next Resistance, XAUUSD Analysis & XAUUSD Forecast – Wednesday, September 11 Gold Has Stuck. Waiting For Breakout, Gold Analysis & Gold Forecast – Tuesday, September 10...
The USD/JPY pair drops to a fresh year-to-date (YTD) trough during the first half of the European session on Friday, albeit manages to recover a few pips in the last hour. Spot prices currently trade around the 140.75 region, still down over 0.75% for the day, and seem vulnerable to slide further.The divergent Federal Reserve (Fed)-Bank of Japan (BoJ) policy expectations led to the recent narrowing of the US-Japan rate differential and continued to prompt the unwinding of the Japanese Yen (JPY) carry trades. In fact, the markets started pricing in the possibility of a larger interest rate cut by the US central bank following the release of th...
The US dollar is falling against nearly all the world’s currencies today amid heightened speculation that a 50 bp cut is still on the table for next week’s FOMC meeting. In the derivatives market, the odds are the highest in several weeks. The ostensible trigger was apparently a news wire story by a reporter thought to be used by some Fed officials to foster communication. A few former Fed officials also seemed to endorse a half-point move. The yen is among the most sensitive to US rates, and it has reached a new high for the year. with the dollar sold through JPY140.40. The euro is knocking on $1.11 in Europe. The US two-year yie...
EURUSD Elliott Wave Analysis Trading Lounge Day ChartEuro/ U.S. Dollar (EURUSD) Day ChartEURUSD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange Wave 5 Position: Navy Blue Wave 3 Next Lower Degrees: Navy Blue Wave 4 Details: Orange Wave 4 appears completed, and now Orange Wave 5 is in progress.  Cancel Invalid Level: 1.10009The EURUSD Elliott Wave Analysis on the day chart indicates a trending market. The current mode of the market is impulsive, meaning the price is moving strongly in one direction. The key structure being observed is Orange Wave 5, which suggests a continuation of the current upward tre...
In our preview of the ECB decision, we warned the central bank may not be as dovish as the market had been pricing in the lead up, leaving the balance of risk tilted towards a higher Euro. Indeed, this is how things have played out.Video Length: 00:01:20More By This Author:USDJPY Sinks To Fresh Yearly Low US CPI Data Featured Euro Underperforms On Data Drag...
With services inflation still elevated, the Bank of England is treading more carefully towards lower interest rates than the Federal Reserve, and that suggests the committee will vote for no change this month. That could start to change, however, assuming signs of lower wage/price expectations begin to show through in the official numbers.Things might be at a cautious standstill at the Bank of England for now, but we think the pace could quickly pick up beyond November. Bank of England treading more cautiously than the FedThe Bank of England may have started cutting rates ahead of the Federal Reserve, but you wouldn’t know it listening to...
USD/CHF extends its losses for the second successive day, trading around 0.8490 during the Asian hours on Friday. The decline of the USD/CHF pair could be attributed to the subdued US Dollar (USD) following Thursday’s economic data from the United States (US) reinforced the odds of a bumper rate cut by the Federal Reserve (Fed) next week.According to the CME FedWatch Tool, markets are fully pricing at least a 25 basis point (bps) rate cut by the Federal Reserve at its September meeting. The likelihood of a 50 bps rate cut has sharply increased to 41.0%, up from 14.0% a day ago.The decline in the US Treasury yields also contributes to th...
By Mike Maharrey, Money Metals ExchangeTurkey has formally applied to join the BRICS economic bloc.The move came as something of a shock given that Turkey is a member of NATO and is generally perceived to be oriented toward the West. Turkey has also been cozying up to the Shanghai Cooperation Organization, a Eurasian political, economic, international security, and defense organization established by China and Russia in 2001.Turkish membership in BRICS would be another boost to an economic cooperation bloc that many see as a potential challenge to Western economic hegemony.BRICS was originally made up of Brazil, Russia, India, China, and So...