CHFJPY trades sideways today, a tad below the all-time high Intervention threat increases as JPY crosses reach new highs Momentum indicators show increasing signs of rally exhaustion CHFJPY is trying to record a green candle today as it remains very close to its all-time high of 168.40. The latest upleg from the October 3 low […]
WTI futures bounce off the lower end of the Ichimoku cloud But their rebound is being held down by the 50-day SMA Momentum indicators got rejected before entering bullish territories WTI oil futures (December delivery) had been in a steady advance since their October bottom of 82.10 before experiencing a pullback. Although the commodity managed to halt its […]
Treasury yields rebound, lift the dollar ahead of US GDP data Dollar/yen rises past 150, rings intervention alarm bells ECB to take the sidelines, focus to fall on forward guidance Wall Street tumbles as Alphabet disappoints Will US GDP data add more fuel to the dollar’s engines? The US dollar extended its gains as US […]
EURUSD switches back to losses after touching resistance Technical signals weaken but bears not in control yet EURUSD was harshly pressured after touching its 50-day exponential moving average (EMA), erasing almost all the gains it made last week ahead of the ECB policy announcement. The price went below its 20-day EMA, and the RSI […]
Meta to report strong earnings after market closes Focus remains on AI & Metaverse outlook Earnings estimates Meta platforms, the parent company of Facebook and Instagram, will announce third-quarter earnings on Wednesday after the market closes. Forecasts point to notable growth, with the consensus recommendation from analysts polled by Refinitiv being a buy. Total […]
USDX halts retreat at a crucial technical zone Continues to hover between 38.2% and 50.0% Fibonacci Momentum indicators endorse the resumption of the recent rebound The US dollar index (December Futures) has been stuck within a rangebound pattern defined by the 50.0% and 38.2% Fibonacci retracements of the 114.71-99.19 downleg. In the last couple of sessions, […]
On October 1, we held a popular trading seminar in Ghana for our clients, titled ‘How to identify high quality trades’. Our trading expert Olugbemi Oyewale taught participants how to trade using popular technical and fundamental analysis, plus how to manage their funds via risk and money management strategies. Attendees had the chance to get […]
Meta stock pulls back from 2023 peak Halts decline and attempts rebound in the last few sessions But oscillators suggest fading positive momentum Meta’s (Facebook) stock has been in a steep uptrend since it bottomed out in October 2022, while defying the broader market pullback since late summer. In the near-term, the price has been showing some weakness after […]
Tokyo inflation details will be released on Thursday 23.30 GMT Market prepares for the next BoJ gathering as geopolitics affect sentiment A strong set of data could offer some short-term respite to the yen Market prepares for the next BoJ meeting With only a few days left until the next Bank of Japan meeting, the […]
Amazon stock experienced a downside correction from 2023 high Has been trading without clear direction since then Momentum indicators suggest a cautiously positive bias Amazon’s stock had been in a steady uptrend since the beginning of the year, attempting to erase part of its huge 2022 decline. However, in mid-September the stock pulled back from its […]
PMIs suggest the US economy entered Q4 on solid footing The divergence between US/Eurozone outlooks weighs on euro/dollar Aussie rallies on stickier inflation, yen pinned near 150-per-dollar mark Wall Street pays attention to corporate earnings Euro/dollar slides from near key resistance on PMI data Although the 10-year US Treasury yield held steady comfortably below the […]
USDCAD jumps above 1.3700 ahead of BoC rate decision Will the pair breach the neutral triangle pattern too? USDCAD held its footing above the resistance-turned-support trendline drawn from the 2020 peak and bounced back into the 1.3700 area on Tuesday. The latest bullish action shifted the attention back to the 1.3800-1.3860 region ahead of the […]
NZDUSD is in the green again today, a tad above a key level Bearish pressure lingers as NZDUSD traded at a 1-year low Momentum indicators could soon turn bullish NZDUSD is edging higher today, recording its third consecutive green candle but trading only a tad above the key 0.5813 level. The bears remain in control […]
Dollar takes a step back ahead of quarterly US GDP data Risks seem tilted towards stronger-than-expected report GDP release is scheduled for 12:30 GMT on Thursday US economy outperforms It’s been a solid year for the American economy, which has performed well even in the face of sky-high interest rates. Economic growth seems to have […]
AUDUSD prints a bullish pattern but confirmation needed Technical signals reflect some caution AUDUSD held steady above the 10-month low of 0.6284 for the third time this month, indicating a potential bullish triple bottom pattern. The positive structure needs confirmation above the 0.6435 region, where the broken support trendline drawn from the 2020 trough and the […]
EURCHF edges lower today after strong rally yesterday Significant sell-off recorded since end-September high Momentum indicators appear ready to turn bullish EURCHF almost tested the all-time low at 0.9403 in an aggressive sell-off since the end-September high. This prompted a reaction from the bulls by recording two strong green daily candles. EURCHF is edging lower […]
USDJPY skids, slipping below moving averages in 4-hour chart But selloff is already fading and rebound underway Bigger picture remains neutral USDJPY came under selling pressure during the past 24 hours, slipping to a one-week low of 149.31 earlier in today’s session. However, not only does the pair remain within its recent tight trading range, […]
Dollar follows US yields lower after rejection from 5% region But gold and yen cannot take advantage of this correction Euro rebound cut short by disappointing business surveys Retreat in yields slams dollar Global markets breathed a sigh of relief yesterday, as the furious rally in US yields finally lost some steam. The yield on […]
Bitcoin surges to an almost 18-month high Broader picture appears overly positive But overstretched rally increases the risk of a correction BTCUSD (Bitcoin) soared to an almost 18-month high on Tuesday, driven by speculation that an exchange-traded fund (ETF) that tracks the price of Bitcoin could soon be approved by the United States. The crypto […]
EURJPY posts a new 2023 peak in today’s session Quickly erases gains, seems unable to extend its advance Momentum indicators suggest that bulls have lifted foot off the gas EURJPY had been stuck in a rangebound pattern for the last couple of months, repeatedly failing to extend its bullish medium-term technical structure. Even though the price managed […]
On September 23, we organized a trading seminar for our clients from Uganda, covering the most important aspects of forex & copy trading. The seminar took place in Kampala and was hosted by experienced Tradepedia instructor Reino Deetlefs. He guided participants through the basics of financial market, teaching them how to trade smarter using tested […]
GBPUSD has its best day since July Bulls await a close above 1.2300 GBPUSD enjoyed a whopping start to the week, marking one of its strongest days since mid-July to rise as high as 1.2257 on Monday. The technical outlook is looking promising at the moment. The pair confirmed a bullish doji candlestick pattern […]
Amazon is forecast to announce another round of strong results But valuations suggest it remains expensive compared to its peers Results are scheduled for Thursday, after Wall Street’s closing bell Another round of stellar results? Starting as an online bookstore, Amazon is now one of the world’s largest and most diversified firms, with its current […]
Australia’s headline inflation rate probably fell in Q3 But monthly print might be more important after August uptick Can the aussie withstand a selloff from Wednesday’s data (0:30 GMT)? Recent RBA decisions have been a close call The Reserve Bank of Australia’s last few policy decisions have been a close call, but policymakers have nevertheless […]
GBPUSD edges higher today but continues to respect the July 14, 2023 trendline It has been exhibiting lower volatility lately, partly due to busy calendar ahead Momentum indicators could turn more bearish soon GBPUSD is trading higher today and it has been spending its last few sessions in the 1.1957-1.2287 region, respecting the July 14, […]
Microsoft earnings to be released after market close on October 24 Both earnings and revenue expected to jump on an annual basis Valuation remains stretched against its tech peers Solid performance driven by AI initiatives Microsoft has fared relatively well in 2023 amid a broader tech rally driven by the Artificial Intelligence (AI) hype. The second most […]
EUR/USD in neutral zone ahead of ECB policy announcement USD/CAD needs more upside as BoC rate decision looms USDJPY at a critical resistance territory; bunch of US data due ECB policy meeting –> EUR/USD EURUSD is stuck in a sideways trend above its 10-month low, but there is hope for a bullish reversal as […]
US 100 cash index remains under bearish pressure Prepares to test the September lows as geopolitics dictate sentiment Momentum indicators point to a continuation of the current move The US 100 cash index is trying to record its fifth consecutive red candle for the first time since April. The bears continue to take advantage of the […]
On September 23rd, we sent our luckiest clients to the first ever XM exclusive concert featuring the best rock bands in Malaysia. It was an electric evening, with AZLAN & THE TYPEWRITER, MUZZA & THE VELVETONNES, HYDRA & JEMSON each taking turns performing their fabulous live acts. Every time the music roared through the venue, […]
Stock markets get kneecapped by relentless rally in US yields Gold and oil prices lose steam amid lack of geopolitical escalation Euro/dollar stable ahead of key events, yen ignores BoJ reports Stocks get bruised The shockwaves from the seismic rally in US bond yields have started to cause tremors in the stock market. Shares on […]
