Recent posts - Page 6
  • Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 
Mar 28, 2024, 11:06 pm

News:

Forex trade


Recent posts

Pages 1 2 3 4 5 6 7 8 9 10
51
Forex / USDCAD Technical Analysis - Ke...
Last post by forex4you - Feb 25, 2024, 06:29 am
USDCAD Technical Analysis - Key levels in play

USD

  • The Fed left interest rates unchanged as
    expected at the last meeting while dropping the tightening bias in the
    statement but adding a slight pushback against a March  rate cut.
  • The US CPI beat
    expectations for the second consecutive month with the disinflationary trend
    reversing.
  • The US PPI beat
    expectations across the board by a big margin.
  • The US Jobless Claims beat
    expectations with the data remaining steady.
  • The latest US PMIs
    increased further from the prior month with the Manufacturing PMI beating
    expectations and the Services PMI missing.
  • The US Retail Sales missed
    expectations across the board by a big margin.
  • The market now expects the first rate cut in June.

CAD

  • The BoC left interest rates unchanged at
    5.00%
    as expected and dropped the language about being prepared to hike if
    needed.
  • The latest Canadian CPI missed expectations across the
    board with the underlying inflation measures falling, which will be a welcome
    development for the BoC.
  • On the labour market side, the latest report beat
    expectations but we saw a contraction in full-time employment and a fall in
    wage growth.
  • The Canadian PMIs improved in
    January although they remain both in contractionary territory.
  • The market expects the first rate
    cut in June.

USDCAD Technical Analysis -
Daily Timeframe

On the daily chart, we can see that USDCAD probed
below the trendline and red
21 moving average but
reversed the move quickly, eventually finishing back above it. This might have
been a fakeout, which is generally a reversal pattern, so the buyers could
start to pile in with more conviction to position for a rally into the 1.3620
level. The sellers, on the other hand, will want to see the price falling back
below the trendline to position for a drop into the 1.3360 level.

USDCAD Technical Analysis -
4 hour Timeframe

On the 4 hour chart, we can see more closely the price
action around the trendline with the break and the quick rebound. We can also
notice that the latest leg lower diverged with the
MACD which is
generally a sign of weakening momentum often followed by pullbacks or
reversals. In this case, it might be a signal for a pullback into the downward
trendline where we will likely find the sellers stepping in to target a break
below the major upward trendline. The buyers, on the other hand, will want to
see the price breaking higher to increase the bullish bets into the 1.3620
level.

USDCAD Technical Analysis -
1 hour Timeframe

On the 1 hour chart, we can see that we had
a counter-trendline for the pullback into the major trendline which was eventually
breached this morning. The buyers should keep on bidding the price into the
downward trendline but if the price were to reverse and break below the support zone
around the 1.3460 level though, we can expect the sellers to pile in more
aggressively to extend an eventual selloff into the 1.3360 level.



                This article was written by FL Contributors at www.forexlive.com.

Source: USDCAD Technical Analysis - Key levels in play

forexlive.com
52
Forex / Silver Price Analysis: XAG/USD...
Last post by forex4you - Feb 25, 2024, 06:29 am
Silver Price Analysis: XAG/USD rallies amid risk-on mood, low US yields

Silver prices advanced in the mid-North American session on Friday amid an upbeat market mood as depicted by Wall Street's posting gains.

Source: Silver Price Analysis: XAG/USD rallies amid risk-on mood, low US yields
53
Forex / United States Baker Hughes US ...
Last post by forex4you - Feb 25, 2024, 06:29 am
United States Baker Hughes US Oil Rig Count increased to 503 from previous 497

United States Baker Hughes US Oil Rig Count increased to 503 from previous 497

Source: United States Baker Hughes US Oil Rig Count increased to 503 from previous 497
54
Forex / Fed's Williams: rate cuts like...
Last post by forex4you - Feb 25, 2024, 06:29 am
Fed's Williams: rate cuts likely in H2 2024

President of the New York Federal Reserve (Fed) John Williams spoke about his outlook on the Fed's rate stance during an interview with Axios.

Source: Fed's Williams: rate cuts likely in H2 2024
55
Forex / ECB coverage: policymakers scr...
Last post by forex4you - Feb 25, 2024, 06:29 am
ECB coverage: policymakers scramble for the microphone on Friday

Several European Central Bank policymakers hit the newswires on Friday, giving their opinions on economic conditions and outlook as Europe sees day two of the ECOFIN meetings, and the Eurogroup meetings get under way today.

Source: ECB coverage: policymakers scramble for the microphone on Friday
56
Forex / Citizens’ trust in the ECB sti...
Last post by forex4you - Feb 25, 2024, 06:29 am
Citizens' trust in the ECB still in tatters - Commerzbank

Households do not seem to really believe that the ECB will be able to bring inflation back to its target of 2% in the medium term, economists at Commerzbank say.

Source: Citizens' trust in the ECB still in tatters - Commerzbank
57
Forex / US Dollar flat ahead of the we...
Last post by forex4you - Feb 25, 2024, 06:29 am
US Dollar flat ahead of the weekend with a negative weekly performance to bear

The US Dollar (USD) is closing this week's performance at a loss. A correlation with the risk sentiment and the fact that equities had a very upbeat week makes it clear that the US Dollar does not thrive when there is a risk on tone present in markets.

Source: US Dollar flat ahead of the weekend with a negative weekly performance to bear
58
Forex / Investors should avoid the “ca...
Last post by forex4you - Feb 25, 2024, 06:29 am
Investors should avoid the "cash trap" and step into risk markets - JP Morgan

Thanks to the Federal Reserve's rate hiking campaign, cash looks more attractive today than in the last two decades.

Source: Investors should avoid the "cash trap" and step into risk markets - JP Morgan
59
Forex / EUR/USD is marginally up amid ...
Last post by forex4you - Feb 25, 2024, 06:29 am
EUR/USD is marginally up amid mixed German economic data

The Euro prints gains against the US Dollar during Friday's North American session but still circa the 200-day moving average (DMA) at 1.0826, amid an absent economic calendar in the United States (US).

Source: EUR/USD is marginally up amid mixed German economic data
60
Forex / Nvidia turns the tables for gl...
Last post by forex4you - Feb 25, 2024, 06:29 am
Nvidia turns the tables for global stock market dynamics

The record stock market rally for Nvidia stocks makes us shudder to think what would have happened if the chip maker had delivered weak earnings or weaker forecasts.

Source: Nvidia turns the tables for global stock market dynamics
Pages 1 2 3 4 5 6 7 8 9 10