tradingforex

In recent years, the USDCNH paused its long-term attempt to strengthen against the USD. Back in February 2014, it found support at 6.0153, marking wave ((III)). What followed was textbook Elliott Wave: a zig-zag corrective structure that reached equal legs at 7.1964 in September 2019. At that point, many expected the downtrend to resume. But … Read more

Silver prices have fallen around 4.5% over the last two trading days as a resurgent US Dollar and weaker haven flows weigh on prices. The US Dollar remains strong, and rising US bond yields are limiting any chance of recovery for now. The Dollar’s strength is driven by hawkish comments from Fed Chair Jerome Powell, … Read more

Platinum: ⬇️ Sell Platinum broke support zone  Likely to fall to support level 1200.00 Platinum recently broke the support zone located between the key support level 1340.00 (low of the previous minor correction iv) and the support trendline of the daily up channel from May. The breakout of this support zone accelerated the c-wave of … Read more

USDCAD: ⬆️ Buy USDCAD broke resistance zone  Likely rise to resistance level 1.3900 USDCAD currency pair recently broke the resistance zone located between the resistance level 1.3785 (upper border of the sideways price range from the start of June) and the 50% Fibonacci correction of the downward impulse from May. The breakout of this resistance … Read more

USDJPY: ⬆️ Buy USDJPY broke resistance zone Likely rise to resistance level 152.00 USDJPY currency pair recently broke the resistance zone located between the resistance level 148.85 (which stopped earlier waves A and i) and the 50% Fibonacci correction of the downward impulse from January. The breakout of this resistance zone accelerated the active impulse … Read more

Summary The Bank of Japan (BoJ) held its policy rate steady at 0.50% at today’s monetary policy meeting, a widely expected outcome. Today’s meeting was the first decision since the trade deal agreed between the U.S. and Japan in July, meaning there was also significant interest in the BoJ’s guidance on future policy. The BoJ … Read more

Despite an upward revision in the forecast for inflation, the Bank of Japan remains squarely focussed on demand-side drivers of inflation when considering the timing of the next cut. The Bank of Japan (BoJ) left its policy settings unchanged at its July meeting, but revised up its inflation outlook, particularly for FY2025 (ending March 2026). … Read more

The upcoming Non-Farm Payrolls (NFP) report will be released tomorrow, the same as last month’s consensus expectation of 110K. As a reminder, the July NFP release shook markets with another positive surprise, coming in 37K stronger than the 110K Expected (+ 147K). Markets are now awaiting to see if the US can once again surprise … Read more

Markets From economic data to the Fed over to trade and some back and fourth switching in between: this is a week that’s keeping markets on edge. The economic calendar yesterday offered no more than some second tier eco data, resulting in relatively small market moves. Core bond yields changed less than 2-3 bps across … Read more

Aussie weakened broadly on Asian session after Australia’s Q2 CPI data cemented expectations for another RBA rate cut in August. However, the decline in Aussie lacks strong momentum so far. The softness in both headline and core inflation readings has effectively given the central bank the green light to proceed with its cautious easing cycle. … Read more