Share: The USD/CHF rose to a two-week high around 0.9035 near the 20-day SMA. The CHF is one the worst-performing currencies in the session. The US Dollar is trading soft after PCE figures from September. Hawkish bets on the Fed remain low ahead of next week’s meeting. At the end of the week, the
Gold is at the highs of the week in a quick $6 move higher to just below $2000. It’s been largely a one-way trade since the Hamas attacks on October 7. Gold daily Oil is also at the highs of the day in a rise above $85, paring much of the weekly loss. The market
A popular trading expression is “the trend is your friend.” This expression has stood the test of time because trends are critically important to any trading plan. Forex trendlines can be seen in almost any charting analysis due to its usefulness and simplicity. This article provides traders with an in-depth guide on what trendlines are, how to draw
Share: AUD/USD recovers from 0.6318 to trade around 0.6330s, up 0.22%. US core PCE at 3.7% YoY, below August’s data, with general inflation at 3.4%, in line with forecasts. Australian inflation above 5%, increasing the likelihood of another RBA rate hike in the near term. AUD/USD bounces off daily lows reached at 0.6318
The EURUSD buyers tried to tilt the technical bias to the upside today with a move above its 200-hour moving average at 1.0580 and it’s 100-hour moving average 1.0589. The price also moved above the 50% midpoint of the move up from the October 13 low at 1.0594. However, momentum above the levels could not
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Share: The Canadian Dollar continues to lose ground, down 1% on the week. Loonie traders will be looking ahead to Canada GDP figures next Tuesday. Crude Oil prices also down for the week, draining support from the CAD. The Canadian Dollar (CAD) is seeing more declines for Friday and is set to mark
The WTI crude oil settles above the August high of $84.85 The price of WTI crude futures is settling at $85.54, up $2.33 or 2.80%. That is above the August high of $84.85 tilting a bias more to the upside. Looking at the daily chart, the low prices this week stalled the fall near the
Share: Gold price rallies to $2000 per troy ounce, bouncing back from daily lows of $1976.97. Escalating Middle East conflict and Israel military expanding its operations in Gaza. Gold price finally broke the $2000 troy ounce barrier on Friday amidst increasing geopolitical risks, as the conflict between Israel and Hamas is at the
We’re deep in the fog of war today. There are many reports that Israeli fighters have entered Gaza in the northeastern corner of the Gaza strip in Beit Hanoun. Throughout the Gaza strip, there are reports of heavy airstrikes, perhaps the heaviest yet. There are also reports of tanks nearby and perhaps anti-tank weapons. I
