Day: December 7, 2023
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument could go by the reversal signal in an ascending wave. The growth target might be the resistance at 1.0895. However, the price could correct to 1.0710 and extend the uptrend after testing the support. […]
Crude Breaks Support Crude oil prices sank to fresh 5-month lows yesterday as a combination of concerns over the Chinese economy and excess supply in the oil market weighed on sentiment. News that Moody’s has downgraded its credit outlook on China to negative, along with a slew of Chinese corporates, has caused some pause in […]
The deep dive of USDJPY on Thursday, which shed 1.5%, has raised eyebrows, and the culprit appears to be the Bank of Japan’s potential departure from its negative interest rate policy. Contrary to the conventional narrative of risk aversion triggering yen gains, this move seems intricately linked to policy considerations. The yen’s ability to maintain […]
EURUSD, “Euro vs US Dollar” EURUSD is declining by a bearish impulse. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0785 is expected, followed by a decline to 1.0585. An additional signal confirming the decline will be a rebound from the upper boundary of […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 4/8 (0.8789) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.8667). […]
US Jobs Data Ahead USCDAD traders in for a treat today with data on both sides of the border set to drive action. First we have the ADP employment number which will attract plenty of attention ahead of the coming NFP data on Friday. Following a drop in employment figures over the prior month, US […]
Bitcoin Rally Continues Bitcoin prices were seen breaking out to fresh YTD highs yesterday as the market continues to swell in demand ahead of anticipated spot Bitcoin ETF approvals next month. While the SEC was recently seen delaying its decision on current applications until January 2024, on the back of recent developments with Grayscale, the […]
The primary currency pair fell on Tuesday. The current EURUSD exchange rate stands at 1.0760. Fans of the US currency are closely monitoring the US labour market statistics for November. The first data released yesterday was weak. ADP employment change figures increased by 103,000, while a rise of 130,000 was expected. The figure saw a […]
The British pound sterling has dropped noticeably against the US dollar. The current GBPUSD exchange rate stands at 1.2549. The main reason for GBP’s decline is the incredible strength of the US dollar. Yesterday, the US released the ADP private payrolls for November, and the dollar managed to ignore weak statistics. This happened because a […]
The yields on US Treasury bonds hit a local minimum on Tuesday following the release of JOLTS data on job vacancies: The 10-year bond yield dropped by approximately 5 basis points after October’s job vacancy data revealed a more significant decline in labor demand than expected. The number of job openings fell from 9.35 million […]