GBP/USD Outlook: Bears Crack 1.30 Level, Eye Pivotal Support at 1.2904
Cable cracked 1.30 support in extension of weakness after lower than expected UK service sector PMI in Jan, released earlier today. Downside pressure increased after Monday’s close below 200SMA and sustained break below 1.30 and rising 20SMA (1.2977) would spark...
Your first trade for Tuesday, February 5
The “Fast Money” traders shared their first moves for the market open. Carter Worth was a buyer of the Russell 2000 ETF. Steve Grasso was a buyer of the Health Care ETF. Mark Tepper was a seller of Tesla. Dan...
Swiss Franc Leads European Majors Lower, Dollar Fighting Back
European majors are generally under pressure today. Weak economic data from Eurozone and UK is one of the factors. Stocks are indifferent to the data though, and rise broadly probably on expectation that loose monetary policy will stay longer. Selloff...
USD/JPY Outlook: Pivotal 110 Barrier Continues To Resist
The pair maintains positive tone on Tuesday and holds near strong 110.00 barrier, but so far without clear break higher, despite Monday’s spike to 110.16 (new 2019 high). Lower volumes in Asia due to holidays slowed the activity, with lack...
Interest Rates and the Forex Market
There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency isthe fundamental factor that prevails above them all. Simply put, money attempts to follow the currency with...
Elliott Wave Analysis with Paul Bratby | Podcast
Key points covered in this podcast Why Elliott Wave is a viable approach for traders The importance of understanding the behaviour of institutional traders Swing trading vs day trading: The differences to know When you look at the tools used...
Aussie Jumps After Hawkish RBA Statement
The Japanese yen was little moved against the USD in the Asian session as the country’s service PMI numbers came out better than expected. The numbers from Nikkei-Markit showed that the services PMI were at 51.6 in January, up from...
Trump And Powell Meet In The White House
Market movers today In the UK, the PMI services index for January will give us a first glimpse into how the economy started out in 2019. Amid the ongoing Brexit uncertainty, we think the index will be broadly unchanged around...
Australian Dollar Surges as RBA Maintains Tightening Bias Despite Growth and Inflation Downgrade
Australian Dollar jumps broadly today after RBA rate decision. While growth and inflation forecasts are downgraded, the overall announcement suggests that RBA is maintaining tightening bias. The next move on interest rate is still a hike even though it may...
RBA Review – Policy Rate to Stay Low for Some Time as Risks to Growth and Inflation Skewed to Downside
As widely anticipated, RBA left the cash rate unchanged at 1.5% for the 27th consecutive meeting. Yet, it has turned less optimistic about Australia’s economic outlook while noting downside risks to global growth. As suggested in the accompanying statement, the...
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