Whether you are a short-term or long-term trader, analyzing the price of a currency pair is perhaps one of the simplest, yet also the most powerful, ways to gain an edge in the market. After all, every single trading indicator in the world is derived from price, so it makes sense to actually study it,
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Choppy session in the GBPUSD The GBPUSD pushed above the choppy highs at 1.3156 and ran up to 1.3176 in the process. That tested the October 21 high at the same level, and the price has rotated back to the downside. The pair still remains above the 1.3156 level. A move below that level (and stay below) should see the buyers turning to
China’s currency has been moving higher against the USD since June. The Financial Times today have a pice up on analysts bullish on the currency. Analysts anticipate additional gains with arrival of more predictable White House After Joe Biden’s victory was declared on Saturday “I think nearly all the volatility has been driven by the
By Julian Lee This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning
Dollar’s decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest one, followed by other commodity currencies. FOMC meeting overnight prompted little reaction. Traders are awaiting
Economists mostly expect job growth slowed in October, as the pace of rehirings dropped off and layoffs increased. Job growth was expected to total 530,000 in October, and the unemployment rate is expected to fall to 7.7%, according to Dow Jones. That number includes about a 150,000 decline in public sector jobs from the end
GBP/USD seesaws around short-term key resistance line after refreshing two-month high. Upbeat RSI conditions keep buyers hopeful above 200-bar SMA. GBP/USD stays positive around 1.3175, up 0.15% intraday, during Monday’s Asian session. The early Asian up-tick to 1.3182 extended the pair’s run-up to the fresh high since September 07 amid the price-positive RSI conditions. Even
S&P index near unchanged the NASDAQ index has turned back positive for the day. It is currently up 4 points or 0.03% 11894.92. The high price reached 11899.18. A gain today would be the 5th consecutive day with a higher close. The S&P index is trading unchanged at 3510.46. It too is on a 4
Data was released over the weekend for China trade balance’s last month A surplus of 401.75bn yuan easily beating the expected CNY 320.4bn, prior was CNY 257.68bn Exports +7.6% y/y vs. expected 6.5%, prior was 11.6% Imports +0.9% y/y expected +6.3%, prior was +11.6% USD terms China trade balance: 58.44bn vs. expected $46.30bn, prior was
By Alex Lawler and Rania El Gamal LONDON/DUBAI: Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping bring about a record oil output cut.
Politics aside, stock investors were the biggest winners of US presidential elections, while Dollar holders were the losers. The greenback ended as the worst performing one, followed by Yen by a wide margin. Australian Dollar shrugged of RBA easing and ended as the strongest, leading other commodity currencies. European majors were mixed, with Sterling as
A worker wearing a protective mask and gloves assembles face shields at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts on Wednesday, April 29, 2020. Adam Glanzman | Bloomberg | Getty Images The U.S. economy, which has shown signs of recovering, could see its prospects turn given the intensifying spread of Covid-19 in the
SpaceShipTwo spacecraft Unity during a glide flight test in New Mexico. Virgin Galactic Space tourism company Virgin Galactic reported third quarter results on Thursday with an increased loss as the company looks to fly two more test spaceflights to finish its development program. “During the quarter we made good progress completing the final steps to
A wedge pattern on the 4-hour chart hints at a potential reversal to 1,900. Gold sends mixed signals ahead of the new week’s trading; a rally to 2,000 is possible. Gold spiked significantly this week and brushed shoulders with 1,960. The instability witnessed in the stock market saw the precious metal used as a hedging
In 2017, when everything concerned with cryptocurrency and blockchain still looked fresh and interesting, it seemed that there would be no day without a new “revolutionary” project or idea. Decentralized financial system, decentralized torrent tracker, decentralized office documentation system. Decentralized, decentralized, decentralized. The overuse of terms like “transparent,” “distributed” and “blockchain-based” soon made most press
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