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 |
How to improve your decision--makingh between Nasdaq100 and SPX by watching technicals in bond yields - Details in video description.
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...
View Hot-Chart..
If oil is at 77 or 76, then the market believes that is the right price for the time being. Your theory around weaker economies in general is not trade able for me in the short to medium term. Then one would have been short the S&P for the last 6 months
Its all relative - are we better off than 12 months back - of course things are in better shape, and I can't judge whether the current economy merits oil at 77 or 65 or 95 or 130 - and as a trader I don't really care.
Ashraf - the FTSE drop could be the start of our cyclical month end correction - as money goes off the table bfore the NFP
good luck
it did take SNB a while to intervene. we could see more aggresive action as they need to lift the support.
As for oil, the question is whether it will break 75.30s on Friday. LOOK AT THE FTSE-100 CHART TODAY.
Ashraf
There's MORE to recovery than just consumption! The crisis has rendered economies weak for years to come. Take the US, e.g. - debt levels 100% of GDP. Do you realise that the country could (technically) default in years to come? (Ofcourse, because it's the US of A...it won't). And that's why the USD's getting hammered - future expectations (& not just due to interest rate tweaking).
I agree that consumption will go up during the forthcoming holidays...but that'll be a mere blip! Seriously, ask yourself - not just for profiting - if the current economy merits oil at 77...
Asad
As per Ashraf's chart - this is normal - it is still playing in the range. If you want to play oil - u must play it both ways, just tighten your stops when price is close to range tops and bottoms.
I am just waiting for it break out of this range - will follow it whichever direction it goes.
And fundamentally - I don't think world economies are getting hammered. In fact - most are recovering nicely and oil consumption will simply go up - more so in the coming holiday season.
Good Luck.
"this could breakl below 75 expecially after the oil data at 15:30 GMT"
Took you by surprise, didn't it? Even me. There's something EXTREMELY fishy - shady - going on. If you knew me, Im the first one to throw conspiracy theories out of the window...but s/thing v/ strange is going on.
I don't know if the data is being manipulated or the oil price! Consumer confidence, retail data, manufacturing data, housing data - e/thing's coming out gloomy...but oil's UP THERE! Why?
I agree that weaker USD increases appetite for oil (because oil is priced in USD blah blah blah...)...but think! Common sense...even if USD were to go down 10% from here...you wouldn't just keep buying oil, would you? Why keep pumping money into oil when the world economies are getting hammered...when oil consumption isn't there!
Gold...I understand...but oil? Why?
Asad
What are your thoughts of USD/CAD with oil falling below $75.
thanks
Ashraf
Not the most exciting question, but here goes anyway. The dynamics of EUR/CHF?? I really can't figure them out. I would think that it would go up with risk appetite, but it seems to go down. Am I missing something? Is it that people pull money out of EUR/USD and then put it into EUR/CHF with falling appetite? And vice versa with rising appetite. I would just suspect the low-yielding CHF to down with rising appetite. I know it's not something to be concerned with, considering the SNB's key levels. Anyhow thought I'd ask.