Day: December 12, 2022
EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0535. Today a link of decline to 1.0483 is expected, followed by growth to 1.0535. With an escape upwards, the price may grow to 1.0650. With an escape downwards, a pathway to 1.0390 will open. GBPUSD, “Great Britain Pound vs US […]
GBPUSD, “Great Britain Pound vs US Dollar” The currency pair is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which indicates prevalence of an uptrend. A test of the upper border of the Cloud at 1.2145 is expected, followed by growth to 1.2640. An additional signal confirming the […]
American stock index S&P500 broke the uptrend and got back to it. Currently, the asset is trying to pull from the broken trendline. However, the index will have to break the level of 3930 first. After that, it might potentially hit the level of 3600. So, let’s wait and see what is going to happen […]
Metals Markets Await US CPI & Fed Following the rallies we’ve seen over the last month or so, both gold and metal look hungry to break out here. Both metals have seen choppier action in recent weeks though have still been grinding higher amidst a broadly lower US Dollar. The key decider this week will […]
4 Reasons Why Traders Lose Money There are many reasons why forex traders lose money. Some traders make poor choices in their trades while there are traders that are not educated enough or experienced. In addition, some of them they do not have a proper trading plan which all these reasons leading to lose money. […]
The BTC failed to keep balance and on Monday dropped to 16,934 USD. The second attempt in a row to rise above the intermediate support level of 17,200 USD failed. The market stepped back to the comfortable consolidation area. Now the support levels of 16,600 USD and 16,300 USD turn out working. If they are […]
On Monday, the British pound against the US dollar is decreasing a bit. The current quote is 1.2240. Nonetheless, the pound looks stable even with the domestic events and news. Morning statistics from Great Britain demonstrated that industrial production in October dropped by 2.3% y/y, which turned out better than the forecast of 2.8% and […]
GDP Rises on Month, Dips on Quarter The latest UK GDP data this morning paints a bleak picture ahead of the BOE meeting on Thursday. At first glance, the 0.5% rise in October looks promising, marking an uptick from the prior month’s -0.6% reading and a beat on the 0.3% the market was looking for. […]
EURJPY Pattern Play EURJPY price action is looking very interesting here ahead of the ECB meeting this week. The pair has been trading higher this year, underpinned by the rising trend line from the March lows. Similarly to what we saw over June – September, price has recently been correcting lower within a bear channel. […]
Chinese currency has risen significantly over the past few days after the government announced a further easing of social distancing measures and travel curbs. However, the rally may be at its initial stages as upside surprises in economic data will likely emerge with a lag in the coming months. Renminbi could strengthen even further against […]