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EUR/GBP Price Forecast: Shallow Rising Channel Extends
EUR/GBP is extending a shallow ascending recovery channel that began at the August 30 lows. The overall short-term trend is unclear – both positive and negative signs complicate the picture. EUR/GBP 4-hour Chart EUR/GBP continues respecting the guard rails of the channel and in the absence of a breakout in either direction the it will probably continue climbing steadily higher. A close above the 0.8464 high (September 11 high) would be required to confirm an upside breakout from the channel. Such a move could be expected to reach roughly 0.8477, the 0.618 Fibonacci (Fib) extension if the height of the channel extrapolated higher. A... -
Finance 0
Low CPI Scare – Implications
S&P 500 reacted with a brief selloff following the steep yoy CPI decline (2.5% vs prior 2.9% is pretty meaningful), only to suck in bulls for a rug pull following the opening bell. It was a steep selloff multiples of the CPI range, to which bonds didn‘t initially respond with a rally while the yen returned to rising again (for those two hours that the selloff lasted, more than the usual time to play games with retail traders).Sectoral view, market breadth and bond showing in terms of risk taking (just TLT got first bought) was poor – S&P 500 bears took ample advantage thereof, and it was mainly up to NVDA to hold the indices somew... -
Finance 0
EUR/JPY Forecast: Euro Continues To Lose Against Japanese Yen
The EUR/JPY pair is one I am watching very closely. This is mainly due to the fact that the market is approaching a psychologically significant figure in the form of ¥155, and that we have seen quite a bit of noise in that area previously. The question now will be whether or not the market can form some type of “double bottom”, and of course whether or not the so-called “death cross” comes into the picture and forces people to acknowledge that we might go much lower. Risk AppetiteThe carry trade has been absolutely slaughtered over the last several weeks, and quite frankly I’m a bit surprised at just how far out of control it’s... -
Finance 0
Gold Reached 2525.80, Next Move Follows, XAUUSD Analysis & XAUUSD Forecast
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: 00:02:58More By This Author:GOLD Targeting Next Resistance, XAUUSD Analysis & XAUUSD Forecast – Wednesday, September 11 Gold Has Stuck. Waiting For Breakout, Gold Analysis & Gold Forecast – Tuesday, September 10 Platinum Trading Strateg, Analysis And Forecast – Monday, Sept 9... -
Finance 0
Elliott Wave Analysis: S&P 500 And NASDAQ Set For Moves Ahead Of Fed Decision
Stock Market Indices Overview: S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, ASX 200 – Featuring Elliott Wave Technical AnalysisOur latest analysis focuses on the key global stock market indices, including the S&P 500, NASDAQ 100, RUSSELL 2000, DAX 40, FTSE 100, and ASX 200, through the lens of Elliott Wave Theory. This approach provides insights into market trends, helping traders identify potential setups for both entry and exit points across these major markets.Elliott Wave Analysis for Major Indices:As we approach the upcoming Federal Reserve meeting in just six days, all eyes are on the U.S. economy. The upcoming PPI... -
Finance 0
Tech Stocks Rally As US Inflation Data Reinforces Expectations For Smaller Fed Rate Cut
The market seems to be in a holding pattern after Wednesday’s strong tech-led rally, which was driven by the August inflation data. The big gains in semiconductor stocks like Nvidia and AMD, as well as other megacap tech names like Apple and Amazon, reflect investor optimism that the Fed is likely to opt for a more moderate 25 basis point rate cut at next week’s meeting. While headline inflation has eased, the uptick in core inflation has tempered expectations for a larger 50 basis point cut, which now seems unlikely. The political landscape is also playing a role, with the recent presidential debate boosting solar stocks and pressuring c... -
Finance 0
XRP Price Stalls In Range: Will A Breakout Come Soon?
XRP price is holding gains above the $0.5250 level. The price is now trading in a tight range and might soon attempt a move above the $0.550 resistance. XRP price is eyeing a clear move above the $0.5420 resistance zone. The price is now trading above $0.5330 and the 100-hourly Simple Moving Average. There was a break above a short-term bearish trend line with resistance at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5420 and $0.5450 resistance levels. XRP Price Eyes Upside BreakXRP price remained well-supported above the $0.5220 level like Bitcoin and... -
Finance 0
Rising CO2 Points To Higher China Emissions
The pace of carbon dioxide accumulates in the Earth’s atmosphere increased again in August 2024.The increase comes as China, the world’s largest source of carbon dioxide emissions by a widening margin, has stated its emissions have not peaked and will continue to increase.The increase in the rate at which CO? is being added to the Earth’s air also comes as the 2023-24 El Niño event has dissipated. These weather events contribute to dry weather conditions that when combined with wildfires, often increase the amount of carbon dioxide that enters the atmosphere. It’s no accident two of the worst years for CO? accumu... -
Finance 0
CAD/JPY Forecast: CAD Recovers Against Yen
The Canadian dollar initially pulled back just a bit during the trading session on Wednesday against the Japanese yen only to turn around and show signs of life. Ultimately, I think this is a situation where people are looking at the 103 yen level as a potential floor in the market. It will be interesting to see if that ends up holding up. All things being equal, this is a market that I think continues to look at the oil market as a potential driver. This is a market that also has to keep in mind that the risk appetite has been all over the place. The Japanese yen is being a significant safety currency, while the Canadian dollar focuses more ... -
Finance 0
AUD/USD Fails Ahead Of 0.6700 Mark, Stalls Its Recovery From Multi-week Low Set On Wednesday
The AUD/USD pair retreats around 40 pips from the vicinity of the 0.6700 mark, or a fresh weekly high set earlier this Thursday and drops to a daily low during the first half of the European session. Spot prices, for now, seem to have stalled the recovery from a four-week trough touched on Wednesday and currently trade around the 0.6670-0.6665 region, nearly unchanged for the day. Reports that China will cut interest rates on $5 trillion mortgages as soon as this month to try and bolster consumption activity revive concerns about a slowdown in the world’s second-largest economy. This, in turn, weighs on antipodean currencies, inclu...
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