USD Falls Then Reverses as US Fed Leaves Rates at 1.75%

The US Fed’s Monetary Policy Statement and Interest Rate Decision were released yesterday evening, with the rate left unchanged at 1.75%. The market is pricing in two to three hikes in 2018, with a slight bias for three to four that could strengthen the dollar position. The Monetary Policy Statement set a slightly hawkish tone, […]

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Gold tests advisor

The dollar rose from its knees and the yield of 10-year US Treasuries broke through a psychologically important mark of 3%, which made gold a whipping boy. The precious metal fell to the level of 4-month lows, and the market is discussing the prophetic forecast of Larry Kudlow. When assuming the post of chief economic […]

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Burning forecast 05/02/2018

Burning forecast 05/02/2018 EURUSD – Waiting for a strong upward rebound. Today – important news on the US: Late in the evening at 6:00 PM London time – the decision of the Fed on rates. Experts do not expect an increase, but the Fed statement will be “tough.” But before that: At 12:15 PM London […]

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US500 and USDCAD Analysis – May 2, 2018

The US500 index has recovered after yesterday’s sell-off with a late session rally to the 4-hour moving average cluster. The blue trend line has been gained once again but the chart shows that the red trend lines, with the top one taken parallel from the bottom, defining the current price action. A break above this […]

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Eurozone flash CPI to lack momentum in April – Forex News Preview

Eurozone flash inflation readings will be available for review on Thursday at 0900 GMT and forecasts suggest that price growth in the monetary union will continue to lack momentum needed to reach the European Central Bank’s (ECB) inflation target, justifying the central bank’s patience in removing stimulus. On an annual basis, the headline Harmonized Consumer Price Index […]

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Stock Market News – Tesla next in line to release quarterly results; FOMC statement could affect overall sentiment

Electric vehicle-maker Tesla is scheduled to release its earnings report for Q1 2018 after Wednesday’s US market close. The consensus recommendation for the company is “hold”, with the average consensus recommendation for the Auto & Truck Manufacturers peer group being a “buy”.  The California-based company’s first quarter earnings per share (EPS) are anticipated to come […]

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Could UK Services PMI resurrect hopes for May rate hike? – Forex News Preview

Market odds of an interest rate rise by the Bank of England in May have fallen dramatically over the past month from over 90% to less than 20% after a run of weak UK data. BoE chief, Mark Carney, also cast doubt about the prospect of a May move in recent remarks. However, after strongly […]

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Technical analysis of USD/JPY for May 02, 2018

All our upward targets which we predicted in the previous analysis have been hit. USD/JPY is expected to trade in a higher range. The technical outlook of the pair is bullish as the prices have recorded a series of higher tops and higher bottoms since April 27. The upward momentum is further reinforced by both […]

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Fed Meeting Preview: Expect No Rate Hikes, But Watch for the Statement

The Federal Open Market Commission (FOMC) started their two-day meeting yesterday. The meeting’s highlight will be the interest rate decision which will be announced at 1900 (GMT+1). It is highly expected that the officials will leave rates unchanged at 1.75%. Traders will be waiting for the accompanying statement, which will give them direction on future […]

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Technical Analysis – WTI crude oil futures remain under pressure; creates narrow range in near term

WTI futures have been holding within a consolidation area since April 18 with upper boundary the 69.35 resistance level and lower boundary the 67.10 support, while the 20- and 40-simple moving averages in the 4-hour chart are acting as a strong mid-level of the channel. In the short-term, the technical indicators turned their momentum to negative. Looking at momentum oscillators […]

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Technical Analysis – GBPUSD retreats after slipping below uptrend line

GBPUSD dived over the last two weeks after the bounce off the 1.4375 resistance level, while during yesterday’s daily session the price dropped below the long-term ascending trend line, shifting the bullish outlook to bearish. However, during Wednesday’s session, the pair is paring some losses after reaching an almost 16-month low of 1.3579. The RSI has fallen into oversold territory but is sloping slightly to […]

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Gold Price Rallies Before ‘No Fireworks’ Fed After PMI Falls, Cost Inflation Rises

GOLD PRICES rallied Wednesday morning ahead of the Federal Reserve’s May meeting on US interest rates, adding 0.5% from yesterday’s drop to within $3 of $1300 per ounce – a level last seen before New Year 2018.   Ahead of the Fed’s decision, latest survey data said Tuesday that US manufacturing activity slowed to a […]

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US Open Preview – Dollar treads water ahead of FOMC rate decision; European stocks up

Here are the latest developments in global markets: FOREX: The US dollar managed to pare some losses against the Japanese yen made after it touched a 3-month high of 109.91 earlier in the day, rising to 109.83 (-0.02%). The dollar index, which gauges the greenback’s strength versus six major currencies, managed to hit a 4-month high […]

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Global macro overview for 02/05/2018

The poor liquidity of the Christmas market has undoubtedly helped the dollar bulls to push it higher, but further macro events from the US can still be expected as threating to this rally. Today in the foreground is the finish of the FOMC meeting, although the chances of surprises are small. It is almost certain […]

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Technical analysis of NZD/USD for May 02, 2018

Overview: Pivot: 0.7049. The NZD/USD pair faced resistance at the level of 0.7089, while minor resistance is seen at 0.7049. Support is found at the levels of 0.6955 and 0.6906. Pivot point has already been set at the level of 0.7049. Equally important, the NZD/USD pair is still moving around the key level at 0.7049, […]

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Technical analysis of USD/CHF for May 02, 2018

The USD/CHF pair continues to move upwards from the level of 0.9886. Yesterday, the pair rose from the level of 0.9886 to a top around 0.9969. Today, the first resistance level is seen at 1.0011 followed by 1.0043, while daily support 1 is seen at 0.9886 (78.6% Fibonacci retracement). According to the previous events, the […]

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Bitcoin analysis for May 02, 2018

Bitcoin (BTC) has been trading upwards. The price tested the level of $9.060. A U.S. District Court has ruled against Chinese conglomerate Alibaba Group in favor of a Dubai-based cryptocurrency foundation, Alibabacoin. The judge says Alibaba Group did not show any jurisdiction in the U.S. and China’s ban on initial coin offerings eliminates any potential […]

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XM Starts Summer Seminar Series in Latin America

Following an intensive forex trading seminar series held in different locations of Latin America this spring, XM is soon to embark on its next seminar road trip in summer, which will reach as many as five locations in Mexico and Colombia. Professional trading instructor Jarek Duque, Chief Instructor for Tradepedia Latin America, accompanied by the […]

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BITCOIN Analysis for May 2, 2018

Bitcoin is still quite indecisive and corrective above $8,500 price area. The price is expected to have a retest before the price proceeds higher towards $10,000 in the coming days. As the support of $8,500 has not been broken yet, the bulls are apparently quite strong with their momentum, reluctant to give in to the […]

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Analysis of Gold for May 02, 2018

Recently, Gold has been trading upawards. The price tested the level of $1,311.50. Anyway, according to the M30 time – frame, I found a potential bearish flag in progress, which is a sign that buying looks risky. I also found a rejection of the resistance at the price of $1,310.00, which is another sign of […]

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Fundamental Analysis of USD/CAD for May 2, 2018

USD/CAD has been stuck inside the corrective range between 1.28 to 1.2950 area from where no definite trend pressure is being observed. USD and CAD, both currencies have been struggling with the economic reports recently which lead certain indecision and volatility in the market persists currently. Recently CAD GDP report was published with an increase […]

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Fundamental Analysis of USD/JPY for May 2, 2018

USD/JPY has been quite impulsive with bullish gains recently which led the price to proceed higher above 109.20 without a retracement along the way. Ahead of the upcoming high impact economic reports from the US this week, including NFP and Unemployment Rate reports, certain gains on the USD side indicate further momentum in the coming […]

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May 2nd, 2018: Dollar Resumes Rally Ahead of Fed

Morning Report: 07.00 London This morning, the US dollar is backing off slightly after solid gains yesterday despite below par US manufacturing PMI. Traders are skimming off profits this morning ahead of the big economic items. The pound slumped yesterday, with a negative bias this morning. UK manufacturing PMI dropped more than expected, while net […]

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GBPAUD and NZDUSD Analysis – May 2, 2018

The price action on this chart shows that the GBPAUD pair has been consolidating sideways after a breakout above 1.80000. The pair has spent most of April in this consolidation, with resistance at 1.85000 and support at 1.81695. Today’s drop below this support level puts the pair on the back foot. Resistance on a break […]

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Technical Analysis – EURJPY runs above 38.2% Fibonacci mark after creating bearish correction in near term

EURJPY is trading higher snapping five consecutive negative days in the short-term after it reached a three-week low of 131.60 during yesterday’s session. Furthermore, prices today successfully surpassed the 38.2% Fibonacci retracement level of 131.74 of the upleg from 128.93 to 133.50.  A bullish pullback is expected further supported by the technical indicators. Short-term momentum indicators are also pointing up for […]

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European Open Preview – Dollar climbs ahead of Fed decision; eurozone GDP eyed as well

Here are the latest developments in global markets: FOREX: The US dollar index continued to advance yesterday, reaching a fresh four-month high ahead of a policy decision by the Fed later today. Meanwhile, sterling came under renewed selling interest as UK data continued to disappoint, while the loonie experienced a very volatile session following some […]

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Ichimoku cloud indicator analysis of USDX for May 2, 2018

The Dollar index remains inside the bullish channel in an up trend. Price continues to make higher highs and higher lows above the cloud support levels and as long as we remain above 92 trend is short-term bullish. However looking at the weekly chart, we stopped the rise yesterday at the 61.8% Fibonacci retracement of […]

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Ichimoku cloud indicator analysis of Gold for May 2, 2018

Gold price as expected from last week approached the $1,310-$1,300 support area. Price has reached weekly support levels and combined with short-term bullish divergence signs, we could see a bounce at least towards $1,330-40 area if not a bigger move higher. Weekly trend remains bullish but technically we have seen no real progress for the […]

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Bitcoin analysis for 02/05/2018

The latest Gov’t report from Hong Kong reports that Bitcoin puts a “medium-low” risk in financial crime, according to Hong Kong Financial Services and Treasury (FSTB). The report was to establish a status on money laundering and terrorist financing. It states explicitly that virtual currencies, such as Bitcoin, are not particularly used in any type […]

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XM Seminar Held for Traders in Johor Bahru and Miri

The XM seminar road trip the XM started this spring in Malaysia reached two further cities, Johor Bahru and Miri, where it was a great pleasure to meet with a large number of online investors who took part in the educational event. The seminar titled Investment Strategies in Online Trading was presented by professional instructor […]

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