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 |
Of Gold Extensions مقياس إمتدادات الذهب
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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USD/CAD regains wonderful traction and climbs to a 1.3075 resistance zone.
Sliding crude oil fees weighed at the loonie and remained supportive.
The upside is possible to remain capped in advance of the BoC on Wednesday.
The USD/CAD pair edged better via the early European session on Tuesday and is currently located close to the 1.3075-eighty strong horizontal resistance.
Following the previous consultation's modest downtick, the pair managed to regain some advantageous traction on Tuesday and become being supported by means of a mixture of factors – the triumphing bullish sentiment around the US dollar and sliding crude oil charges.
USD/CAD supported by means of sliding oil expenses
The greenback managed to keep closing week's modest gains, triggered by means of better-than-predicted US economic releases, which supported expectancies that the US economic system will keep to expand and dampened possibilities for any similarly interest rate cuts by way of the Fed.
Meanwhile, an intraday pullback in crude oil costs undermined demand for the commodity-linked currency – the loonie – and further collaborated to the pair's intraday advantageous move. Oil costs fell almost 1% on Tuesday amid fading supply concerns from Libya.
It will now be thrilling to peer if the pair is capable of capitalizing on the high-quality momentum or bulls chorus from placing any fresh bets as the focus now shifts to the latest financial policy replace via the Bank of Canada, scheduled to be announced on Wednesday.
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EUR/USD quickly movements above the 1.1100 marks.
German Economic Sentiment improves to 26.7 in January.
Attention now shifts to Trump’s speech in Davos.
A surprising boost of purchasing interest-driven EUR/USD returned above the key 1.1100 marks on Tuesday soon after the discharge of better-than-estimated ZEW Survey figures.
EUR/USD stays near 1.1100, attention on Trump
The pair has regained greater oxygen and advanced – albeit briefly – to the location above 1.1100 the determine after the ZEW Survey confirmed the Economic Sentiment rebounded to 26.7 and 25.6 in Germany and the euro area, respectively, for the current month.
Moving forward, buyers are now targeted on the imminent speech with the aid of President Trump at the WEF in Davos, amidst growing concerns regarding the outbreak of the Wuhan coronavirus in China.
What to look for around EUR
The pair dropped to sparkling every year lows and lingers over the important thing 55-day SMA to date this week and always trying to USD-dynamics. Furthermore, the recent charge action suggests that the 1.1180 regions may be a meantime top. In the meantime, markets’ awareness is now seen moving to a more data-structured stance whilst the US-China change front remains muted for the time being. On the greater macro view, the slowdown within the location stays aways from abated and keeps to justify the ‘looser for longer’ monetary stance from the ECB, which is anticipated to keep the current ‘wait-and-see’ stance, at least within the near-term, as in step with the recently published minutes (Accounts) from the December meeting.
EUR/USD degrees to watch
At the moment, the pair is gaining 0.05% at 1.1100 and faces the subsequent up barrier at 1.1134 (200-day SMA) followed by 1.1172 (weekly excessive Jan.16) and eventually 1.1186 (61.8% of the 2017-2018 rally). On the downside, a breakdown of 1.1076 (weekly/2020 low Jan.20) would goal 1.1066 (100-day SMA) en direction to 1.1039 (low Dec.6 2019).
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1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
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1. GBP/USD struggles to hold onto recovery profits beyond the 1.3000 mark.
2. December 23 low stays on the bears’ radar whereas December 31 pinnacle will assignment the customers throughout upside.
GBP/USD trades close to 1.3000 by the clicking time of Tuesday’s Asian session. In doing so, the pair stays inside the month-to-month falling fashion channel at the same time as also remaining below 200-bar SMA.
With this, sellers preserve eyes on December 23 low, close to 1.2900, as close to-time period key support throughout further declines.
In a case in which GBP/USD expenses stay weak underneath 1.2900, November 22 bottom around 1.2820 ought to go back to the chart.
On the upside, 61.8% Fibonacci retracement of the pair’s rise from November 22 to December 12, at 1.3086, can offer immediate resistance in advance of the stated channel’s top line and 200-bar SMA confluence near 1.3100/05.
If buyers manage to go 1.3105, 50% Fibonacci retracement level close to 1.3170 can offer intermediate halt previous to fuelling the pair in the direction of the excessive marked at the stop of 2019, at 1.3285.
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The foreign currency trading market is commonly referred to as the interbank market. Forex trading involves the buying of one currency and the selling of another. The particular currency combination is referred to as a cross (for example, the Euro/GB Pound, or the US Dollar/Japanese Yen.).
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Another type of trade using Forex trading strategies involves "forward outbreaks." Although the trade itself is carried out immediately, settlement on the value date involves a small interest rate calculation which is usually insignificant, unless the position is held for a long time. The interest rate differential varies based on the currencies traded. This differential in interest rates between the two countries involved can produce a positive or a negative differential, which is calculated and added to your account.
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