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FXGLORY

ForexTechnical Analysis

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Technical analysis of silver dated 10.01.2013

 

Silver chart has been stopped during its descending trend from the top price of 35.35 and reaching to the important supportive level which is determined in the picture below, and the sellers are capable of reaching to the lower prices. Price during its descend could record the bottom price of 29.19 which is one of the most important supportive levels in front of the price. Formation of the long lower shadow on determined supportive levels shows the attention of traders to this area and doubts of sellers to continue their ways.As it is obvious in the picture below, according to the formed signs in daily time frame, the AB=CD harmonic pattern with the ideal ratios of 78.6 and 127.2 is formed and by completing of the D point, there is a warning for ascending of the price. Stoch warns the possibility of ascending of the price according to the next cycle during the next days. Generally according to the formed signs until the bottom price of 29.19 is preserved, there is the possibility of increase and ascending of price in this chart.

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FxGlory

2013.01.10

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Technical analysis of AUD/JPY dated 11.01.2013

 

AUD/JPY could experience a good ascend without price reformation during its strong ascend and right now it has recorded the top price of 94.552 and this is one of the most important resistance level in front of the price. According to the recent strong ascend and without reformation of this currency pair, there is the possibility of price reformation. As it is obvious in the picture below, in the weekly time frame the price during its ascend has reached and touched the red resistance line, and there is the possibility of formation of a top price in descending direction and revert or ascending stop. There is AB = CD harmonic pattern between the bottom price of 72.044 and the top price of 94.552 according to the formed price movement that by completing of the D point, there is a warning for descending of the price in this currency pair.

 

In 4H time frame there is an Shooting Star candle stick pattern at the top price of 94.522 that shows the failure of the sellers in reaching to the higher prices temporary. The mentioned top price is in Fibonacci level of 200 and there is the possibility of descending of the price from this resistance level. Stoch indicator is in saturation buy area in 4H time frame and warns the possibility of decreasing of the price according to the next cycle. Generally according to the recent strong ascend and formed signs, there is the possibility of price reformation in this chart.

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FxGlory

2013.01.11

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Technical analysis of USD/CHF dated 14.01.2013

 

Right now USD/CHF is in descending trend in 4H time frame and could record the bottom price of 0.91089 during its descend. The price by reaching to the ascending trend line which is drawn in the picture below could not pass the supportive level and by forming the bottom price of 0.91089 provides a field for price reformation. Right now the mentioned top price is recorded by the next ascending candles and the price is above 5-Day moving average which warns the possibility of ascends during the next candles.There is a Bat harmonic pattern between the bottom price of 0.90900 and the top price of 0.93021 according to the formed movements that by completing of the D point, there is a warning for increase of price in this area. RSI indicator confirms the bottom price of 0.91089 and it is in saturation sell area and warns the ascending of price. Generally according to the formed signs until the bottom price of 0.90828 is preserved, there is a potential for ascending and price reformation in this currency pair.

 

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FxGlory

2013.01.14

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Technical analysis of EUR/AUD dated 15.01.2013

 

As it was mentioned in the previous analysis of this currency pair dated 30.11.2012, according to the formed signs in this price chart, there was the possibility of ascending of price which finally happened.EUR/AUD from 2008 was in a great descending trend without reformation and could record the bottom price of 1.16062 during its descend by the next candles. As it is obvious in the picture below, RSI indicator is in divergence mode and warns the price change during a long term interval.In weekly time frame the price is in descending channel in short term interval and is in divergence mode with MACD indicator and by breaking the descending trend line, there is a warning for trend changes. As it was mentioned in the previous analysis of this currency pair, there is an Wolfe wave technical pattern in weekly time frame and warns the possibility of ascend up to the target line. Generally in long term interval of this currency pair, there is the possibility of price reformation.

 

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FxGlory

2013.01.15

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Technical analysis of USD/CHF dated 21.01.2013

 

As it was mentioned in the previous analysis of USD/CHF 14.01.2013, according to the formed technical signs there was the possibility of ascending of the price which finally happened. Price during its ascending trend could record the top price of 0.93895 and it is one of the most important resistance levels in front of price. As it is obvious in the picture below, after breaking the descending trend line in daily time frame, the price was not able to ascend a lot and continue its trend with small candlestick body that shows the buyers doubt during the ascending trend.In weekly time frame the price by making a bottom price of 0.90813 and recording of it by the next ascending candle shows possibility of ascending during the next weeks. Stoch indicator is in ascending cycle in weekly time frame and warns the possibility of ascending during the next weeks. According to the strong ascends of this currency pair , right now there is the possibility of price reformation from the top price of 0.93895 and according to the formed signs in the chart by breaking of the mentioned resistance level , there is the possibility of ascends in this currency pair.

 

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FxGlory

2013.01.21

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Technical analysis of USD/JPY dated 22.01.2013

 

USD/JPY has experienced an ascending trend without reformation and downfall during the recent weeks. This currency pair is in saturation sell area and there is the potential for price reformation. Price during its ascend could record the top price of 90.249 and right now the most important resistance level in front of price is 90.000. In daily time frame on 18th day a candle with small body formed which showed the indecision market in ascending or descending of the price and it is a weak warning for stopping of the market. In weekly time frame of this currency pair there is AB=CD harmonic pattern between the bottom price of 75.578 and the top price of 90.249 with the ratios of 78.6 and 161.8 that with completing the D point of this pattern , there is a warning for changes in price.

 

Stoch indicator is in saturation sell area and warns the possibility of price change according to the next cycle. In the range of formation of the D point of harmonic pattern, there is an Hanging Man candlestick pattern which warns about the formation of a top price by closing of the descending candle of this week. RSI indicator is in saturation sell area and in divergence mode with the price chart which warns the potential of descending of the price during the next days. Generally according to the formed signs and a good ascend of this currency pair until the top price of 90.249 is preserved, there is the possibility of descending in this currency pair.

 

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FxGlory

2013.01.22

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Technical analysis of EUR/CAD dated 23.01.2013

 

As it was mentioned in the previous analysis of this currency pair on 02.01.2013 according to the formed signs there was the potential for descending of the price which finally happened and because of not being in the same direction with larger time frames, the price could ascend again. The price has been stopped by reaching to the resistance level of ascending channel during its ascend and could record the top price of 1.32568 and right now this resistance level is the most important resistance level in front of the price.

 

Formation of a candle with small body and a spinning top candlestick pattern shows the indecision market for ascending or descending and warns the formation of a top price in this area. Stoch indicator in daily time frame is in saturation buy area and warns the potential for descending and reformation according to the next cycle. According to this point in weekly time frame there is no clear reason for descending of the price and the price is above 5-day moving average. By breaking of the top price of 1.32568, there is a warning for ascending of the price up to the resistance level of 1.33333.

 

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FxGlory

2013.01.23

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Technical analysis of EUR/NZD dated 24.01.2013

 

EUR/NZD from 2009 in a long term interval was in a strong descending trend and could record the bottom price of 1.49689. as it is obvious in the picture below, the price by reaching to the historical supportive level of 1.52126 ( formed on 1988 ) after testing this level was not able to cross it and descend more and in this area a bottom price is formed by closing of the next ascending candles. Right now it seems that price is in saturation sell area and according to the descending trend there is not a significant price reformation.RSI Indicator is near the saturation sell area in monthly time frame and warns the potential for ascending of the price. In daily time frame of this currency pair, there is a Wolfe wave pattern which the price from the 5th point of this pattern starts to ascend and follows the target line. Generally in long term interval until the bottom price of 1.52126 is preserved, the price will have the potential for reformation in this currency pair during the next months.

 

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FxGlory

2013.01.24

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Technical analysis of USD/CAD dated 25.01.2013

 

USD/CAD from 2002 is in long term interval, generally it is in a descending trend and right now it is in the range of lowest historical prices. In monthly time frame of this currency pair, the price by making a hammer candlestick pattern in the level of 0.96385 by the next candles has ascended. This is a reason for failure of sellers in reaching to the lower prices. According to the long descending trend of this currency pair from 2002, it is in saturation sell area and there is the potential for ascending and reformation of the price during the next months.As it is obvious in the picture below according to the formed movement in the chart, there is Gartley harmonic pattern with the ideal ratios that with the formation of the D point of this pattern, there is a warning for increase and ascend of price. Generally until the bottom price of 0.96385 is preserved, the price has the potential for ascending from the harmonic pattern.

 

Untitled-111.jpg

 

FxGlory

2013.01.25

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Technical analysis of CAD/JPY dated 28.01.2013

 

CAD/JPY during the recent weeks could ascend without reformation and record the top price of 91.429. Right now this is one of the most important resistance levels in front of price and by breaking of this level; there is the possibility of ascending up to the resistance level of 94.000. According to the two candles in previous week the price appears as a Hanging Man candlestick pattern that there is the possibility of formation of the top price and vulnerability of ascending trend .there is a need for closing of a descending candle during this week to confirm this event.As it is obvious in the picture below, according to the formed movements , the AB=CD harmonic pattern with the ratios of 78.6 and 161.8 is formed and by completing the D point of this pattern, there is a warning for descending in this currency pair. Stoch indicator in weekly time frame is in saturation sell area and warns the possibility of stopping of the ascending trend by the next cycle. Generally until the top price of 91.429 is preserved, the price has the potential for descending and reformation.

CADJPY-2013.01.28.jpg

 

FxGlory

2013.01.28

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Technical analysis of EUR/GBP dated 30.01.2013

 

As it was mentioned in the previous analysis of this currency pair on 23.11.2012, according to the formed signs there was the potential for increase of price which finally happened. EUR/GBP from 23.07.2012 had a strong ascend and could record the top price of 0.85843 (right now the price has been stopped by reaching to the Fibonacci level of 61.8). As it is obvious in the picture below, from the bottom price of 0.79592 till now there was a strong and without reformation ascend and there is a warning for price reformation and ceasing of the price ascends in the market. According to the formed movement in the price chart , there is AB=CD harmonic pattern between the bottom price of 0.77612 and top price of 0.85843 with the ideal ratios of 50 to 200 and by completing the D point of this pattern there is the possibility for formation of a top price.

 

In the range of the D point, there is a Hanging Man candlestick pattern which is not a good sign for the buyers and continue of ascending trend.RSI indicator is in saturation buy area and warns the formation of a top price and descend of price in this range. According to this point in weekly chart there is not a clear reason for descending of the price and by breaking of the top price of 0.85843, the price will have the potential for increase and ascend during the next days.

 

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FxGlory

2013.01.30

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Technical analysis of GBP/USD dated 31.01.2013

 

GBP/USD during its descend from the top price of 1.63810 had a great downfall and recorded the bottom price of 1.56738. The price during its ascend from the bottom price of 1.56738 of could pass the descending trend line and is above 5-day moving average that generally warns more ascending. The formed bottom price is in 127.2 supportive Fibonacci level and right now is one of the most important supportive levels in front of price. As it is obvious in the picture below, price is in divergence mode with the MACD indicator and there is a possibility of price change in this chart.

 

Right now the bottom price of 1.56738 is supported by an important ascending trend line dating back to 2009. This bottom price is the 6th point of this ascending trend line and by fixing of this point there is a possibility of changing in price direction during the next weeks. Generally according to the mentioned signs until the ascending trend line is preserved for a long time, the price has the potential for ascending in this currency pair.

 

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FxGlory

2013.01.31

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Technical analysis of USDSGD dated 01.02.2013

 

USDSGD from 2001 was in a great descending trend and could record the bottom price of 1.19914. With the formation of this bottom price on Fibonacci level of 161.8, the field is prepared for the formation of a successful bottom price and ascends. As it is shown in the picture below, according to the formed movements the price is in divergence mode with the RSI indicator and warns about the formation of a bottom price and change in price direction. With the formation of the bottom price of 1.21489 and closing of price above 5- day moving average and there is the possibility of long term ascending in this currency pair.

 

Stoch indicator in this time frame confirms this bottom price according to the next cycle. In the mentioned bottom price there is an important Morning Star candlestick pattern which is formed from 3 star candles and warns the possibility of increasing of the price. According to the mentioned signs until this bottom price is preserved, there is the potential for price increase and reformation in this currency pair.

 

USDSGD-2013.02.01.png

 

FxGlory

2013.02.01

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Technical analysis of USD/CHF dated 04.02.2013

 

USD/CHF during the previous week had a descending trend that could record the bottom price of 0.90204. Right now the price is below 5-day moving average in daily time frame which shows a strong descending trend. In the last day of previous week, the price by reaching to the supportive line and level of 0.90423 (as it is shown in the picture below, it is made of two bottom prices) has been stopped from more descend and the sellers cannot reach to the lower prices. With the formation of a hammer pattern, there is a warning for formation of a bottom price and changing direction in the chart but closing of the ascending candle at the end of day is necessary for attention to this signal.Stoch indicator is in saturation sell area in daily time frame that shows a strong descending trend but generally according to the next cycle, there is the possibility of price reformation. If the 0.90204 price level breaks, there will be important supportive levels of 0.90000 and 0.89316 that the price is able to reach them. Among these two supportive levels, the level of 0.90000 has a special importance for traders because of being rounded.

USDCHF-2013.02.04.jpg

 

FxGlory

2013.02.04

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Technical analysis of EUR/CHF dated 05.02.2013

 

EUR/CHF during its strong ascend ( from 10.01.2013 to 18.01.2013) by reaching to the previous resistance level in 1.24672 range, after testing it to break and passing of it by buyers twice ,the price could not pass this resistance level and faced a downfall. The price could record the top price of 1.25673 which is one of the most important resistance levels in front of price. By fixing of this top price with the next descending candles, the price reforms and descends. Also it could record the bottom price of 1.22565. Right now the price has been stopped by reaching to the supportive edge of descending channel and in 4H time frame has been made two candles with small body which shows indecision market to ascend or descend.

 

Between the top price of 1.25673 and bottom price of 1.22565, there is AB=CD harmonic pattern with the ratios of 76.4 and 127.2 that with completing the D point of this pattern there is a warning for ascending from the supportive edge of descending channel. RSI indicator is in saturation sell area and warns the formation of a bottom price in the next stage of ascends. Generally according to the formed signs until the supportive edge is preserved, the price has the potential for ascending and continuing its previous trend.

 

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FxGlory

2013.02.05

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Technical analysis of GBP/CHF dated 06.02.2013

 

GBP/CHF during the past two weeks had a strong descending trend without reformation and could record the bottom price of 1.41815. The price by reaching to the determined supportive levels could not pass of them and they prevented the price downfall. The price had a downfall from the top price of 1.50016 that seems some of the sellers try to withdraw the profit of their trades and leave the market. Formation of a strong ascending candle in 4H time frame (8:00) confirms this matter.

According to the recent ascending trend the price could break the descending trend line (that prevented ascending of price three times) and it is a warning for changing price direction. RSE indicator is saturation sell area in daily time frame and in 4H time frame is in divergence mode with the price chart and warns the potential of changing price direction. Generally until the price level of 0.41753 is preserved, the price has the potential for reformation in this currency pair.

 

GBPCHF-2013.02.06.jpg

 

FxGlory

2013.02.06

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Technical analysis of AUD/NZD dated 07.02.2013

 

AUD/NZD is in long term interval of a descending trend and could record the bottom price of 1.22196. By breaking this level the price will find the ability to reach the important supportive level of 1.21000. Yesterday candle with a small body shows indecision market to ascend or descend and this is a warning for sellers in changing price direction (it is a need for confirmation of other factors). Between the top price of 1.30727 and the bottom price of 1.22196 there is a non-ideal AB=CD harmonic pattern with the ratios of 61.8 and 127.2 that with completing the D point of this pattern, there is a warning for ascending of the price.

 

An interesting point is the formation of a butterfly pattern inside the AB=CD pattern that simultaneously shows changing of price direction. RSI indicator is in saturation sell area that supports the price level of 1.22196 and generally warns about changing of price direction. According to the formed signs until the price level of 1.22196 is preserved, the price has the potential for ascending and reforming of the previous descending trend in this range.

 

Untitled-11.jpg

 

FxGlory

2013.02.07

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Technical analysis of AUD/JPY dated 08.02.2013

 

AUD/JPY from 09.10.2012 had a strong ascending trend with little reformation that shows the decision of buyers in reaching to the long term targets. This currency pair during its movement could record the top price of 97.419. The price by reaching to the psychic level of 97.000 could not pass it and retreated which the usage ability of this level can be seen in 1H time frame. As it is obvious in the picture below, between the bottom price of 71.993 and the top price of 97.419, there is AB=CD harmonic pattern with the ratios of 78.6 and 161.8 that the D point of this pattern is completed and warns about descending of the price.RSI indicator confirms the mentioned top price and it is in saturation buy area and also by being in divergence mode with the price chart warns about the price changing direction. Until the top price of 97.419 is preserved, the price has the potential for reformation of ascending trend.

 

Untitled-12.jpg

 

FxGlory

2013.02.08

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Technical analysis of AUD/USD dated 11.02.2013

 

AUD/USD during its ascend from the bottom price of 0.95727 could record the top price of 1.05981 and stopped after testing the next resistance levels. As it is obvious in the picture below, the price by reaching to the descending trend line could not pass it and the buyers retreated. Generally this descending trend line could prevent the price ascending and increase twice. After formation of the 4th point of descending trend line, the price has a downfall and it is under 5-day moving average.According to the recent downfall the 4th top price on the descending trend line shows that the price can reach to the lower price so one of the price targets will be the supportive level of 1.01400. According to the Stoch indicator in daily and weekly time frames, the potential for descending of price and the top price of 1.05981 has been confirmed. Generally until the 4th point of descending trend line is preserved, there is a possibility for descending during the next weeks.

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FxGlory

2013.02.11

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Technical analysis of EUR/USD dated 12.02.2013

 

EUR/USD during its ascend from the bottom price of 1.26546 could record the top price of 1.37066. This currency pair by reaching to the obstacle such as the Fibonacci level of 200 (resistance level) and the round price level of 1.37000 has been descended. Right now the top price of the top price of 1.37066 is fixed by the previous week descending candles and if this resistance level breaks, there will be the potential for ascending trend in this pair. As it is obvious in the picture below, in the mentioned top price, there is a Engulfing candlestick pattern which is a sign for overcoming the pressure of sell to buy and a warning for ending of the ascending trend.

 

Between the bottom price of 1.20416 and the top price of 1.37066 there AB=CD harmonic pattern with non ideal ratios that by completing the D point there is a warning for changing in price direction. Stoch indicator is in saturation buy area and shows the possibility of descending of the price according to the next cycle. In daily time frame of this currency pair the bottom price of 1.33514 is formed that by breaking of this level, there is first warning for more descend. Generally according to the formed signs in weekly time frame, until the top price of 1.37066 is preserved, the price has the potential for reformation.

 

Untitled-14.jpg

 

FxGlory

2013.02.12

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Technical analysis of GBP/JPY dated 14.02.2013

 

GBP/JPY had a great ascending trend without reformation from B bottom price in the level of 118.804 and could record the top price of 148.000. Right now the price by reaching to the resistance Fibonacci level of 200 also resistance round level of 148.000 has been stopped from more ascend and formed a top price which is fixed by previous descending candles in daily time frame. In the range of formed top price there are Hanging Man and Doji candlestick pattern that shows the possibility for formation of a successful top price in continuing descending trend. According to the formed movements RSI indicator is in divergence mode with the price that warns the changing of price direction.Right now the price during its downfall by reaching to the supportive round level of 145.000 has reacted to it and buyers overcome sellers also it caused the formation of hammer candlestick pattern in 4H time frame. The first warning for more descend is breaking of this supportive level. Generally until the top price of 148.000 is preserved, there is a potential for price reformation in this currency pair.

 

Untitled-15.jpg

 

FxGlory

2013.02.14

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Technical analysis of GBP/CHF dated 15.02.2013

 

As it was mentioned in the previous analysis of this currency pair dated 06.02.2013 according to the formed signs there was the possibility of the price ascending which finally happened and it could record the top price of 1.45342 during its ascending. Price during the buyers retreating and downfall from the mentioned top price could record the bottom price of 1.42301 which is fixed by the next ascending candles and had an ascending trend. In daily time frame of the previous day, the Inverted Hammer pattern was formed which shows the possibility for formation of a bottom price and price ascending.

 

As it is obvious in the picture below, by breaking of the descending trend line (with three top prices) and converting of it to the supportive level in 1H time frame, there is a warning for ascending of the price. According to the formed signs in the chart and the potential of this currency pair in reforming of the recent strong descends, until the bottom price of 1. 42301 is preserved, price has the potential for increasing and ascending in this currency pair.

 

Untitled-1.png

 

FxGlory

2013.02.15

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Technical analysis of EUR/USD dated 18.02.2013

 

EUR/USD During its ascending trend by reaching to the Fibonacci level of 200 and recording the top price of 1.37086 has been stopped from more ascending. Right now the price is under 5-day moving average in daily time frame and warns the potential for descending of the price. In weekly time frame of this currency pair in the top price of 1.37086, there is a Engulfing candlestick pattern that shows the formation of a top price and sellers overcome buyers.Stoch indicator is in saturation buy area in weekly time frame and warns the potential for decreasing of the price according to the next cycle. As it is obvious in the picture below if the price descends, one of the price targets will be the drawn ascending trend line. Right now the first important warning for more descending of price in this currency pair happens by breaking f the 1.33046 level in daily time frame.

Untitled-16.jpg

 

FxGlory

2013.02.18

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Technical analysis of USD/JPY dated 19.02.2013

 

USD/JPY from 12.09.2012 (formation of ascending trend third point) is in a strong and without reformation ascending trend that could experience a good price growth. Right now this currency pair could record the top price of 94.446 during its ascending trend that according to the formation of recent candles, it is not an ideal top price for descending. In daily time frame the price has been stopped by touching the resistance level and the buyers could not reach to the higher prices.RSI indicator is in divergence mode with the price chart that warns the possibility of changing price direction. In weekly time frame Stoch indicator is in saturation buy area and warns the possibility of price reformation according to the next cycle. Closing of recent weekly descending candle or formation of one of the important candlestick patterns is a good reason for confirming the descending signal by Stoch indicator in weekly time frame. Generally according to the strong and without reformation ascending trend in this currency pair, the price has the potential for downfall until the top price of 94.446 is preserved.

 

USDJPY-2013.02.jpg

 

FxGlory

2013.02.19

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Technical analysis of GBP/USD dated 20.02.2013

 

GBP/USD from 20.12.2012 began to descend by forming a top price. Due to the technical signs selling pressure of sellers is tangible and there is not a clear reason for reformation and ascending of the price in long term time frames. The price during the descending trend could record the bottom price of 1.54142 which is the nearest level to one of the supportive level in the chart. As it is obvious in the picture below, the price its descending trend could pass the long term ascending trend line which is made of 4 bottom prices and warns about descending of the price.Sellers in midterm outlook try to get the supportive level of 1.53900 and for the next stage, the important level of 1.53000 and these two supportive levels are the possible targets of price downfall. Stoch indicator in monthly time frame shows the possibility of descending of the price according to the next cycle.

 

Untitled-17.jpg

 

FxGlory

2013.02.20

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    • Date: 12th November 2024. Market Buzz: Trump Trade Impact! “Trump trade” has boosted the US Dollar and US stocks, but Trump’s policies may have less favorable effects on global assets. Trump’s plan to raise tariffs is expected to negatively impact economies worldwide, especially exporters like China. Asia & European Sessions:   Bitcoin Surge! Bitcoin broke $90K, driven by Trump trade once again. Bitcoin is up roughly 110% in 2024, helped by robust demand for dedicated US ETFs, interest rate cuts by the Federal Reserve and Trump’s cryptofriendly agenda. Crypto market capitalization has exceeded its pandemic-era peak, reaching $3.1 trillion. Traders are betting on Bitcoin reaching $100,000 by year-end, according to data from the Deribit exchange. Open interest — or outstanding contracts — for CME Group Inc. futures for Bitcoin and second-ranked Ether (ETHUSD) scaled records on Monday, a sign of growing engagement by US institutional investors. Asian shares dropped, alongside European and US equity futures, as traders evaluated the implications of President-elect Donald Trump’s policy agenda and potential cabinet choices. The MSCI Asia Pacific Index fell for a third consecutive day, driven by rising Treasury yields amid concerns that Trump’s proposed tax cuts could increase inflation. There are also reports that Trump is considering two individuals for prominent roles in his administration with track records of criticizing China. DAX and FTSE100 are down -1.1% and -0.5% respectively, after a pickup in German HICP inflation and higher than expected UK wage growth dampened easing expectations. Investors await the US CPI report for insights into the Fed’s easing path, as Trump’s inflationary policies may lead to fewer rate cuts. Financial Markets Performance:   The USDIndex continues to rise and is currently at 105.75. It hit a 1-year high. EURUSD drifts to 1.0620 and GBPUSD is in a sell off, currently at 1.2800. Oil prices fell after their biggest 2-week decline, amid a weak demand outlook from China, a stronger US Dollar, and concerns over a potential oversupply. Crude oil has traded within a narrow range since mid-last month, influenced by Middle East tensions, the US election, and OPEC+ output decisions. Gold remains under pressure and is currently at just $2604.36 per ounce. It hit a one-month low, down 5% since Trump’s election victory, as a strong dollar and US equity rotation pressured the metal. Gold’s decline was also technical, breaking below the 50-day moving average, causing funds to cover long positions. Despite recent drops, gold remains up 25% for the year, supported by central bank purchases and geopolitical risks. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
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