USD/JPY Could Correct Gains, Gold Takes A Hit
Key Highlights USD/JPY seems to be forming a double top near 145.00. It is testing a major bullish trend line at 142.85 on the 4-hours chart. Gold price declined heavily below the $1,680 support zone. GBP/USD is at a risk...
Ethereum Quiet Within a Triangle Range
Ethereum (ETHUSD) has been in the red so far this week, gradually retreating after almost touching the 1,800 round level. Despite the soft negative mood, the short-term bias has not switched to the bearish side yet, as the second most...
Crude Oil Price Could Gain Bullish Momentum, Gold Consolidates
Key Highlights Crude oil price started a steady increase above the $85 resistance. It broke a major bearish trend line with resistance at $87.50 on the 4-hours chart. Gold price is consolidating losses below the $1,720 resistance zone. EUR/USD could...
Cost of Prematurely Crying Victory
Ouch! The US inflation data release didn’t go according to the plan yesterday. The headline figure printed 8.3% inflation in August, higher than the 8.1% expected by analysts, and happily, slightly lower than last month’s 8.5%. Yet, the US food...
Brent is Stressed Again
The commodity market remains extremely volatile. On Monday, a Brent barrel is declining to 91.50 USD and looks unstable. Previously, the market was afraid that Russia will cut down on supply and pushed prices upwards, but risks of stable demand...
UK Inflation to Accelerate; What Does this Mean for the Pound?
The UK has been in the spotlight recently, with Liz Truss becoming the nation’s new prime minister last Monday, and Queen Elizabeth passing away on Thursday. Although the BoE gathering – initially scheduled for Thursday – was postponed for next...
Week Ahead: It’s All About the Data!
There is a glut of economic data due out this week that could sway decisions at upcoming interest rate meetings. The UK, and the rest of the world, will mourn the passing of Queen Elizabeth this week. As a result,...
US CPI Preview: Inflation Could Fall to 8%, but the Fed isn’t Slowing Down Yet
To the downside, the first key support level to watch on USD/JPY will be 139.50, where prices topped out back in July… No matter where you are, you can’t help but hear about it: Inflation is the biggest economic topic...
USD/CAD Seen in Late Stages of an Ending Diagonal
USDCAD is coming lower, after 75bp increased by BoC, but Rogers noted that the rates will need to be rised further. At the same time, we see USD making a strong reversal across the board while crude oil is trying...
EUR/USD: Recovery Gains Traction But Looks for Further Positive Signals
Recovery picks up on Friday and cracks 1.01 barrier, driven by a hawkish stance from the ECB, following central bank’s decision to raise interest rates by 75 basis points and remaining on track for further tightening, along with weaker dollar,...
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