FOREX: IDENTIFYING WHERE THE LIQUIDITY IS AT WILL TELL YOU WHERE THE MARKET IS TRYING TO REACH FOR. SEEK OUT EQUAL HIGHS AND EQUAL LOWS FOR TARGETS. BE PATIENT AND FOLLOW YOUR PAIRS CONSISTENTLY AND WATCH HOW THE MARKET CAPTURES BOTH SIDES OF LIQUIDITY!
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Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins. According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down
Canadian dollar among top performers during the American session. USD/CAD drops below the 200-day Simple Moving Average. Canadian Q1 GDP on Tuesday, BOC on Wednesday, and NPF on Friday. The USD/CAD continued to decline during the American session and printed a fresh one-month low at 1.2649. It is hovering near the lows, holding onto daily
USDJPY confined by technical levels above and below The UDSJPY has traded down and back up and trades modestly lower vs. the close from yesterday. The current price is trading at 126.94. The price closed at 127.07 yesterday. Looking at the hourly chart above, the high price today reached 127.192. That was just short of
Today’s German inflation report is another wake-up call for the ECB and its single mandate. CPI rose 7.9% y/y and HICP was up 8.7%, both well above expectations. In addition, the monthly numbers were also very hot, indicating an acceleration in pricing, even from these levels. They’re also far too high above the ECB’s target.
Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine. Brent crude futures gained 46 cents, or 0.4%, to $119.89 a barrel at
Commodity currencies are trading broadly higher today, with help from risk-on sentiment, with Aussie and Loonie competing for the first place. Selloff are mainly centered Yen and Swiss Franc, and to a lesser extent Dollar. Euro and Sterling are mixed for the moment. The moves could intensify further on relatively lower liquidity with US on
GBP/USD pares intraday gains as buyers struggle to keep reins at monthly high. 200-SMA, rising wedge’s support challenge bears amid market’s indecision. Firmer RSI, not overbought, hints at further upside towards recent top. GBP/USD retreats from daily high as bulls take a breather around one-month top heading into Monday’s London open. Even so, the cable
USDCAD trades below its 50% midpoint The USDCAD moved lower in the early Asian session and in the process broke below its 50% midpoint of the move up from the April 21 low. That level comes in at 1.27677. The price has stayed below that midpoint level since the break. Stay below the 50% retracement
Prior +5.7% Import price index +31.7% vs +32.0% y/y expected Prior +31.2% Import prices in Germany continue to soar as inflation pressures remain widespread. The annual reading is the highest since September 1974 – during the first oil crisis. Energy developments continue to contribute to the high price rise: ADVERTISEMENT – CONTINUE READING BELOW
Gold prices were trading mildly higher on Monday as the weakening US dollar buoyed greenback-priced bullion, although gains were capped by some investors turning to riskier assets in Asia. Federal government offices, stock and bond markets, and the Federal Reserve will be closed on Monday for the Memorial Day holiday in the United States. Gold
Markets are generally in risk-on mode in Asian session today, with rallies in major indexes, oil prices and cryptos. Dollar is extending recent correction and would likely continue further. Yen and Swiss Franc are the next weakest. On the other hand, Australian Dollar is leading New Zealand and Canadian Dollar higher. Euro and Sterling are
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After declining for eight successive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. However, Bitcoin (BTC) has not been able to replicate the performance of the United States equities markets and is threatening to paint a red candle for the ninth week in a row. A positive sign
GBP/USD Weekly Forecast: The pound has room to rise in the NFP week The US dollar’s retracement from two-decade highs alongside a positive shift in risk sentiment emerged as the key catalysts that helped GBP/USD extend its recovery rally. Dip-buying remains the underlying theme for cable traders, as they head into a holiday-shortened US Nonfarm
GBPUSD trades above and below the 50% midpoint The GBPUSD moved up to test the 50% of the move down from the April 21 high yesterday, and broke above that level at 1.2622 early in the Asian session today. The high price also extended above the May 4 high at 1.26373 on its way to
The financial markets were anxious about the US core PCE inflation data. Not only are traders laser focused on inflation but they know the PCE is the “favored” inflation indicator for the Fed. The core PCE declined from 5.2% to 4.9% in April while the headline came in at 6.3% vs 6.6%. Admittedly, that is