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 […]
The ECB rate-setting meeting dominates this week’s busy schedule Market does not expect a rate change; focus on statement and overall rhetoric Decision will be announced on Thursday 12.15 GMT, press conference at 12:45 GMT ECB travels to Greece for another meeting The European Central Bank is holding its penultimate meeting for 2023 on Thursday, […]
On October 7, we held a popular trading seminar in Santo Domingo about support and resistance. During the seminar, participants learned to recognize support and resistance levels for different time frames and for various financial instruments, from stocks and currencies to commodities and cryptocurrencies. In addition, advanced techniques to validate and confirm these levels were […]
Gold surges to a 5-month high on geopolitical tensions Retreats slightly before claiming the 2,000 psychological mark Momentum indicators suggest overbought conditions Gold has been in a steep uptrend after bouncing off its October low, jumping back above crucial technical regions such as the 200-day simple moving average (SMA) and posting a fresh five-month peak of […]
BoC expected to hold rates at 5.0% after surprise fall in CPI But persisting wage pressures mean future hike not off the table Quarterly forecasts also eyed when decision is announced Wednesday, 12:30 GMT No change in rates expected The Bank of Canada looks set to keep its overnight rate unchanged at 5.0% at its […]
USDCHF plummets to one-month low Short-term bias skewed to the downside Sellers could next show up below 0.8890 USDCHF is set to finish the week with notable losses after Thursday’s session developed into a wild bearish ride, squeezing the price below the 0.8980 base and towards a one-month low of 0.8900. The pair is […]
Bitcoin edges higher amid growing optimism on spot ETF approval Cryptos decouple from stocks, defying geopolitical jitters and rising yields Bitcoin reclaims the crucial 200-day SMA Investors count on spot-Bitcoin ETF approval Undoubtedly, Bitcoin is experiencing one of its best weeks in recent months, currently being around 10% up since Monday. This latest rally has […]
Central bank decisions in Eurozone and Canada coming up But FX traders will likely focus more on the US GDP report Is the dollar set to realign with its superior fundamentals? Dollar turns to GDP stats for fuel The US economic machine continues to fire on all cylinders. Shielded by the government’s enormous deficit spending […]
Possibility of weekend escalation in Midde East propel gold and oil higher Powell remarks provide only modest respite to bond selloff, dollar holds steady Stocks continue to struggle as uncertainties rise, Powell keeps rate hike option Simmering tensions keep markets on edge The ongoing conflict in the Middle East continued to weigh on market sentiment […]
EURGBP heads for a strong weekly close Bull run faces another challenge at 0.8740 EURGBP recorded a couple of bullish achievements this week, ascending above the resistance trendline, which halted September’s bull run, and crawling above the 200-day simple moving average (SMA) for the first time since May. The price resumed its bullish momentum on Friday […]
Alphabet is expected to report a nearly 10% increase in revenue Despite latest rally, it remains relatively cheap compared to its peers Results are scheduled to be released on October 24, after closing bell Forecasts point to another quarter of solid results Since the prior earnings season, when Alphabet reported better-than-expected results for Q2, the […]
USDCAD attempts to completely erase its latest pullback On track to test the 6-month peak of 1.3784 Momentum indicators are heavily tilted to the bullish side USDCAD had been in a steady advance since late September, posting a fresh six-month high of 1.3784 on October 5. Although the pair corrected to the downside, it quickly found its […]
