EURUSD 1.1851 |
USDJPY 111.52 |
GBPUSD 1.3772 |
AUDUSD 0.7485 |
USDCAD 1.2406 |
GBPJPY 153.59 |
EURJPY 132.15 |
AUDJPY 83.48 |
CADJPY 89.86 |
Silver 26.23 |
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Bitcoin versus Miners Performance
As many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners...
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I tend to agree with you on tech vs fund (not that reading fundamentals is necessarily easy....). I think it's fundamentals that move markets - just not necessarily in the way people expect.
Technicals working in a bullish market: I had not heard that, but I have heard the expression "There is no such thing as a support in a bear market. Having said that, in FX, one side's falling is another side's rising - not like with stocks or commodities, so it is not so clear.
I meant Asad not Asda...
any views on eur/usd if NFP turns out to be negative?
will the usd still strengthen?
Oil HAD to reach 72.8 now, then & whenever. The recent lows, starting two weeks ago, have nothing to do w/ technicals. They started w/ Obama's statement on a curb in prop trading...and then the disappointing results of the oil majors...and then the overall negative sentiment of the market...and then the fears of sovereign defaults...and couple of figures here & there - aaaaall fundamentals.
Yeah, a BIT of technicals would've played their part...but traditionally, technicals only work in a bullish market. When markets collapse, EVERY technical's thrown out of the window!
Asad
The name's AsAD! :) AsDA is a supermarket - the cheapest one... *heheh*
Asad
What kind of price movement do you see most likely happening in the USDCAD this Friday morning? It is inching up and close to 1.077 and at levels this high already I am never sure to short or stay long. Please advise.
Kind regards,
Abdul.
i posted withing the last two weeks a renewed call for oil at 72.50. it reached 72.8. nad that was based on technical and Elliott wave. the push to 75 something was a corrective trend in downtrend that has been confirmed by the three dollars plunge.
72.88 is support and if it get broken then we are having a downtrend as long dow ahsn't touched bottom in this intermediate trend.