Day: January 27, 2023
EURUSD, “Euro vs US Dollar” The currency pair has completed the first impulse of decline to 1.0850. Today the market has completed a correction of this wave to 1.0899. At the moment, the quotes are forming a new impulse of decline to 1.0850. Then a consolidation range should form around this level, followed by an […]
Brent On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has broken through the resistance line. The quotes are now expected to rise above 8/8 (87.50) and later reach the resistance level of +2/8 (90.62). The scenario can be cancelled by a downward breakaway of the […]
Daily Market Outlook, January 27, 2023 Tesla Leads The Charge, Asian Markets Follow Wall Street’s Lead Higher Asian markets are set to end the week in the green taking their lead from robust trade on Wall Street, led by tech darling Tesla that ended the day higher by nearly 11% taking the Nasdaq higher by […]
Risk Rallies on GDP Beat – PCE Up Next On the back of better-than-forecast advanced Q4 GDP yesterday, traders are now looking to today’s US core PCE data to provide the final insight ahead of the FOMC next week. Given that the PCE data is the Fed’s preferred gauge of inflation, over CPI, the data […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0840 is expected, followed by growth to 1.1055. An additional signal confirming the growth will be a bounce off […]
EURUSD, “Euro vs US Dollar” On H4, at the support level, the pair has formed a Harami reversal pattern. The instrument may now go by the signal in an ascending wave. The goal of the growth will be 1.0980. However, the price may pull back to 1.0830, bounce off the level, and continue the uptrend […]
Oil Traders Increase Longs The latest CFTC COT institutional positioning report shows that oil traders increased their net long positions last week from 205k contracts to 239k contracts. Oil prices have been relatively muted this week though are still up on the year so far having rallied more than 13% off initial 2023 lows. Looking […]
Rising Costs Hurt Profits Shares in UK beverage maker Fevertree are bouncing back today after a more than 15% plunge from yesterday’s closing price. The company, famous for making tonic mixers, issued a profit warning ahead of its upcoming earnings report in March. Fevertree warned that profits for 2023 would likely be lower as a […]
5 Reasons Why You Need To Stick To Your Trading Plan Only when success in the market is followed by a carefully thought-out strategy is it repeatable and long-lasting and a trading plan describes this procedure. How essential a trading strategy is to achieving consistent long-term market success is seen below. Why You Need To […]
US GDP Up Next Looking ahead to today’s US session, the key events will be the release of advanced US GDP for Q4. The data is drawing a great deal of attention ahead of the first FOMC meeting of the year next week and should we see any surprise in the release, volatility can be […]
