Trading Ideas

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Fri, 28 Oct 2022 12:53:17 GMT

EUR/USD waits for events near 1.0000

Despite initially holding, the support of the lower trend line of the channel up pattern and the 1.0000 mark failed. By the middle of Friday's trading, the pair had reached below 0.9950. Economic Calendar Analysis During the week, it is all about the US Dollar associated fundamental data, surveys and central bank policy. Only exception is the Bank of England rate decision

Thu, 27 Oct 2022 15:21:08 GMT

Gold remains above 1,650.00

In general, the price for gold has been almost flat. On Thursday, the price descended below the 50-hour simple moving average and touched the 1,655.00 level. Economic Calendar Analysis On Friday, the US Core PCE Price Index is scheduled to be published at 12:30 GMT. This inflation measure is watched by the US Federal Reserve when setting their policy. XAU/USD short-term forecast If

Thu, 27 Oct 2022 15:16:14 GMT

USD/JPY reaches support zone

The USD/JPY currency pair reached the support of the weekly S1 simple pivot point on Thursday morning at 145.19. Meanwhile, it was spotted that the recent decline of the US Dollar against the Japanese Yen was guided by a trend line, which connects the pair's this week's high levels. Economic Calendar On Friday, the US Core PCE Price Index is scheduled to

Thu, 27 Oct 2022 15:12:40 GMT

GBP/USD trades near 1.1600

In general, the GBP/USD encountered resistance in the weekly R2 simple pivot point at 1.1644. A decline followed, and at mid-day on Thursday, the 1.1550 level provided support and a surge started. At the time of writing, 14:30 GMT, the rate was heading to once again test the weekly R2 at 1.1644 and the 1.1650 level. Economic Calendar On Friday, the US

Thu, 27 Oct 2022 15:05:18 GMT

EUR/USD pierces support zone

The reaction to the ECB interest rate hike was a decline of the Euro against other currencies. On the EUR/USD chart it resulted in a piercing of the combined support of the 1.0000 mark, the 50-hour simple moving average and the weekly R2 simple pivot point at 0.9985. However, by 14:00 GMT, the pair was observed to have recovered back

Wed, 26 Oct 2022 13:39:04 GMT

Gold surges due to USD decline

As the US Dollar has been experiencing a decline due to the markets thinking that the Federal Reserve would be less restrictive in their monetary policy, the price for gold has surged. On Wednesday morning, the price touched the 1,675.00 level. Economic Calendar Analysis On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and

Wed, 26 Oct 2022 13:33:53 GMT

USD/JPY steadily declines

In the aftermath of another intervention, the USD/JPY pair appears to be steadily declining. Namely, this week the US Dollar is experiencing a broad decline due to the markets expecting the US Federal Reserve to change its policy to be less restrictive. Economic Calendar On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and

Wed, 26 Oct 2022 13:30:58 GMT

GBP/USD recovery continues

The recovery of the Pound against the US Dollar continues on, as on Wednesday morning the rate reached above the 1.1600 mark. Economic Calendar On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and the follow up press conference. The publication of the rate and monetary policy statement is scheduled for 12:15 GMT. The

Wed, 26 Oct 2022 13:26:57 GMT

EUR/USD encounters resistance at 1.0050

Since finding support in the 0.9700 level on Friday, the EUR/USD has been recovering. Most recently, the rate encountered resistance in the 1.0050 level and support was provided by the 1.0000 mark. Economic Calendar Analysis On Thursday, the Euro will react to the European Central Bank's announcement of the Main Refinancing Rate and the follow up press conference. The publication of the

Mon, 24 Oct 2022 09:07:07 GMT

Gold breaks pattern

At mid-day on Friday the price for gold suddenly surged and broke the channel down pattern to the upside. By the start of Monday's trading, the 1,670.00 level had been touched. The 1,670.00 acted as resistance and caused a decline. By mid-Monday, the price had almost reached the 50 and 100-hour simple moving averages near 1,640.00. Economic Calendar Analysis On Monday, look

Mon, 24 Oct 2022 08:53:56 GMT

USD/JPY reacts to policymakers

The USD/JPY currency pair was testing the resistance of the 152.00 level, as it once again suddenly plummeted. The USD/JPY suddenly dropped on Friday evening and at the open of Monday's trading, as fundamental news had spread over the weekend. Economic Calendar On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to

Mon, 24 Oct 2022 08:47:40 GMT

GBP/USD respects round levels

On Monday, the GBP/USD was facing the resistance of the 1.1400 level and the support of the 1.1300 level. Economic Calendar On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to occur from 07:15 up to 08:00 GMT. The UK data will be out at 08:30 GMT. US results will be published

Mon, 24 Oct 2022 08:36:53 GMT

EUR/USD bounces off 0.9900 level

On Monday morning, the EUR/USD confirmed that the 0.9900 level can act as resistance, as the pair bounced off it. Economic Calendar Analysis On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to occur from 07:15 up to 08:00 GMT. The UK data will be out at 08:30 GMT. US results will

Fri, 21 Oct 2022 11:51:53 GMT

Gold extends decline

The price for gold eventually encountered resistance in the combination of the 1,645.00 level, the 100-hour simple moving average and the upper trend line of a channel down pattern. The resistance forced the price into retreating down to the 1,615.00/1,622.00 zone. he support zone appeared to have caused another recovery. Economic Calendar Analysis On Monday, look out for the Markit Services and

Fri, 21 Oct 2022 11:48:52 GMT

USD/JPY surge gains momentum

The USD/JPY step by step approached the 150.50 level, which was reached and acted as resistance for two hours. Afterwards, the rate surged sharply and easily reached above the 151.00 mark. By the middle of the day's European trading, the rate had reached above 151.30. At the moment of writing, the rate appeared to be unstoppable. Economic Calendar On Monday, look out

Fri, 21 Oct 2022 11:45:25 GMT

GBP/USD plummets to 1.1100

As the UK Prime Minister resigned, the Pound initially surged and reached above 1.1300. However, the spike upwards was followed by a decline. By the middle of Friday's trading, the pair had almost reached the 1.1100 mark. Economic Calendar On Monday, look out for the Markit Services and Manufacturing sector Purchasing managers Indices. The European release is set to occur from 07:15

Fri, 21 Oct 2022 11:39:02 GMT

EUR/USD declines on Friday

On Friday morning, the EUR/USD bounced off the 0.9800 mark and declined below the support of the 200-hour simple moving average near 0.9765. By the middle of the day, the rate was approaching the support of the weekly simple pivot point at 0.9719 and the 0.9708/0.9715 zone. Economic Calendar Analysis On Monday, look out for the Markit Services and Manufacturing sector Purchasing

Thu, 20 Oct 2022 10:58:56 GMT

Gold recovers on Thursday

The price for gold eventually found support above the 1,615.00/1,622.00 zone. The 1,625.00 level appears to have acted as support. During the first half of Thursday's trading, the price recovered back up to the 1,635.00 level. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor

Thu, 20 Oct 2022 10:53:54 GMT

USD/JPY pierces 150.00 mark

On Thursday morning, the USD/JPY currency pair shortly reached above the 150.00 mark and the weekly R2 simple pivot point at 149.98. The 150.00 mark is a major benchmark for the pair and most financial news outlets are reporting on the event. Economic Calendar This week, there is only one notable scheduled event, which could impact the US Dollar and the financial

Thu, 20 Oct 2022 10:50:57 GMT

GBP/USD trades below 1.1200

The decline of the Pound against the US Dollar has continued, as on Thursday morning the pair approached the 1.1150 level and the weekly simple pivot point at 1.1160. Economic Calendar This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal

Thu, 20 Oct 2022 10:46:59 GMT

EUR/USD respects moving averages

On Thursday morning, the EUR/USD found support in the 200-hour simple moving average near 0.9755. The support was enough to cause a retracement to the combined resistance of the levels near 0.9800. Namely, the 0.9800 mark, the 100-hour SMA and the 50-hour SMA were located at 0.9795/0.9810. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact

Wed, 19 Oct 2022 16:18:43 GMT

Gold could reach September low

On Wednesday, the price for gold passed below the 1,640.00 level's support. By the middle of the day, the pair had reached the 1,630.00 level. Economic Calendar Analysis This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index

Wed, 19 Oct 2022 16:13:24 GMT

USD/JPY approaches 150.00

Due to an unknown reason on Tuesday, the USD/JPY pair dipped down to 148.15. It could be possible that the Bank of Japan made another attempt to intervene in the forex market. However, an hour later the rate was back above 149.00. On Wednesday, the surge continued, as by mid-day the rate was at 149.75. Economic Calendar This week, there is only

Wed, 19 Oct 2022 15:59:26 GMT

GBP/USD reacts to UK CPI

The GBP/USD pair reached below the support of the channel up pattern, which afterwards turned into resistance. Once the pair approached the combined resistance of the 1.1350 level and the trend line, a decline started. At 06:00 GMT the decline increased due to the publication of the UK Consumer Price Index. It was revealed that year-on-year basis inflation in September

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