Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling pressure together with Dollar. The development suggests that risk markets might be ready for a
EUR/USD remains pressured around the lowest levels since late 2002. Oversold RSI, rectangle formation limit the pair’s immediate moves. 20-HMA guards immediate rebound, previous support, 100-HMA challenge intraday bulls. EUR/USD bears take a breather around almost 20 years even if traders flirt with the 1.0250 heading into Wednesday’s European session. It’s worth noting that the
The Ministry of Economic Development of Italy has announced that certain blockchain projects will qualify to apply for up to $46 million in government subsidies starting from September. In a Tuesday announcement, the Ministry said companies and public or private research firms will be able to apply for funding from the government for the development
DAX trade idea after it broke the COVID lowIMPORTANT SIDE NOTE: At your discretion, you can follow the DAX price action, entries, stop loss and take profit target, as mentioned above. Instead of buying DAX, or selling if stopped out, or selling when DAX take profit target is reached, they could decide to buy and
The tech trade has roared back to life with the Nasdaq shaking off a nearly 2% decline to trade briefly in positive territory (now -0.2%). Two things that tech stocks like are: 1) Lower oil prices — WTI is down $13 from the intraday highs 2) Lower yields — tech is a long-duration asset and
Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products. West Texas Intermediate crude, the U.S. oil benchmark, slid 8.4%, or $9.14, to trade at $99.29 per barrel. The contract last traded under $100 on May 11. International
Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak, with Aussie shrugging of RBA rate hike. Nevertheless, Canadian Dollar is relatively resilient Technically, EUR/USD’s
Pound under pressure, among worst performers of the American session. GBP/USD heads for the lowest close since March 2020. US dollar holds onto significant daily gains as Wall Street tumbles. Risk aversion continues to weigh on GBP/USD. The pair fell further, reaching at 1.1897, the lowest level since March 2020. It remains under pressure around
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries. Brent crude futures rose 82 cents, or 0.7%, to $114.32 a barrel by 0105 GMT after a 2.4% gain on Monday. U.S. West Texas Intermediate crude climbed $2.58, or 2.4%, to
It’s a rather slow start to the week, with major pairs and crosses stuck inside Friday’s range. Trading could remain subdued for the day with the US on holiday. But there are lots of events to look forward to, starting from RBA’s rate hike tomorrow. Minutes of Fed and ECB meeting might not reveal anything
EUR/USD is aiming to violate 1.0440 as investors see eurozone PMI stable. The DXY is displaying a subdued performance as the focus has shifted to the Fed minutes. The ECB may announce its first interest rate hike after a span of 11 years. The EUR/USD pair is juggling in a narrow range of 1.0423-1.0438 in
Prior was 56.8 Sentiment hit at 17-month low though still positive New orders at 23-month lows Production volumes grew in June for the 24th consecutive month Further acceleration in backlogs Input prices accelerated in June Full report (pdf) Everyone expects a slowdown in factory activity after the pandemic boom, but where it settles out is
New Delhi: Gold in the national capital on Monday rose by Rs 241 to Rs 52,048 per 10 grams amid firm global trends, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 51,807 per 10 grams. Silver also gained Rs 254 to Rs 58,139 per kg from Rs 57,885 per
Australian Dollar recovers broadly today, following recovery in European markets. Meanwhile, traders are also preparing for tomorrow’s RBA rate hike. New Zealand Dollar is also mildly firmer. On other hand, Yen is turning softer with Swiss Franc and Dollar. Euro and Sterling are mixed for now. Overall, trading is subdued with US on holiday. Technically,
Calm market on Monday amid US holiday. Emerging market currencies remain under pressure on recession fears and higher interest rates. USD/MXN firm while above 20.20 looking at 20.45. The USD/MXN is practically unchanged on Monday, hovering slightly below 20.30, holding onto last week’s gains. With US markets closed, price action will likely remain limited. The
Bitcoin (BTC) starts a new week still in holiday mode with United States financial markets off for Independence Day. The largest cryptocurrency, stuck below the increasingly daunting $20,000 mark, continues to feel the pressure from the macro environment as talk of lower levels remains omnipresent. After a quiet weekend, hodlers find themselves stuck in a
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