Day: December 3, 2022
Daily Market Outlook, December 2, 2022 ‘Markets Marking Time Ahead Of Non-Farm Payrolls Release Wall Street took a breather following the post-Powell-inspired rally, consolidating above the 4000 level, some softer manufacturing data was digested along with several Fed members who reiterated the call for a focus on fighting inflation with restrictive monetary policy. Asian markets […]
CADJPY Sell Off Continues CADJPY has been one of the best short plays of recent weeks, driven by weaker oil prices and a higher JPY. With global recessionary fears mounting as we push into the winter in the West, uncertainty around developing events in China, and a shift in USD outlook, JPY has emerged as […]
NFP Up Next All eyes are on the latest set of US labour reports today. With the US Dollar heavily sold in the run up to the release, expectations are primed for further USD sales into the weekend. Indeed, on the back of dovish comments from Fed’s Powell earlier this week and with core PCE […]
Another batch of US macroeconomic data pointed to an easing in inflation pressures while the consumer spending index (Core PCE) rose by 0.2% in October against the forecast of 0.3%. US equities rose after the report, dollar dipped while Treasury bond yields retreated even lower, to the lowest level since early October. After the speech […]
EURUSD, “Euro vs US Dollar” On H4, at the resistance level, the pair has formed a Shooting Star reversal pattern. Currently, the pair may go by the signal in a correctional wave. The goal of the pullback will be 1.0435. However, the pair might grow to 1.0650, break through the level, and continue the uptrend […]
On Friday, the market major is, indeed, happy. The current quote is 1.0510. Investors keep drowning the USD after the speech delivered this week by the head of the US Federal Reserve System Jerome Powell. According to CME, the probability of an increase of the interest rate by 50 base points at the meeting on […]
USDJPY Drop Deepens The holiday season is fast approaching but markets are showing little sign of slowing down. It’s been another busy week across the board with plenty of big moves and key developments to keep an eye on. However, chatting with traders ahead of the weekend, the move capturing the most attention appears to […]
Type: Bearish Momentum Key Levels:Resistance:1475.50Pivot:1409.75Support:1380.50 Preferred Case:We have a bearish bias on the H4 chart. In addition, price is crossing below the Ichimoku cloud , indicating a bearish market. If the bearish momentum continues, price may continue to move towards the Pivot at 1409.75, where the 38.2% Fibonacci line is located. Alternative Scenario:Price may rise […]