Eyes are on the US court of appeals for the D.C. Circuit for a potential decision in the bitcoin spot ETF case with Greyscale suing the SEC for approval. Some were pointing to slate of decisions today set for 11 am ET but that came and passed with four decisions and nothing on Greyscale. Signs
Crude oil sets the support and resistance going into next wk A week or so ago, the price of crude oil moved above a key swing ceiling between $82.43 and $83.44 (see yellow area and read numbered circles on the chart above). The price moved above that ceiling on Wednesday of last week, closing at
The dollar is little changed in general so far today as the market mood has calmed down after the US CPI report yesterday. As mentioned earlier here, the data doesn’t really change the overall Fed outlook and so we’re back to the drawing board for most dollar pairs after the back and forth action yesterday.
Earlier today, Saudi Arabia announced that it will extend its voluntary 1 million barrels per day (mbpd) oil production cut through September. They added that the cuts could potentially be extended or deepened. Following this announcement, Crude oil prices increased by more than $1. The momentum has continued. The price is currently up over $2.12
The Australian dollar is the early mover today after the RBA decision to leave the cash rate unchanged at 4.10% again. The aussie is lower as a result but it isn’t that bad as markets have already priced in this outcome more so than a rate hike. The yen is also softer again with USD/JPY
People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate than
The USDJPY traded to a new low today, and also equaled the high for the week. The day has been volatile, but is more bullish heading into the close and the new trading week. What does the price action and technicals say for next week’s trading? This video will define the bias, and outline the
The Dow has moved higher for 13 consecutive days. Today the price made a new highs going back to February 2022, but has rotated to the downside. The index is currently down -210 points or -0.59% at 35309.97. Bank of Japan threatening to change their policy (on top of ECB and Fed this week) may
Hello traders, Today I spotted two trading setups. My first setup was in USDCHF M15. It was a well-formed demand zone that was formed inside larger demand zone of the same timeframe. I decided to place two positions on this setup. Price touched this demand zone and went through it. As you can see from
TD is anticipating that the Fed will raise rates by 25 basis points, which will be the final increase. Even so, the analysts go on, the FOMC will likely continue to validate the dots while maintaining a hawkish tilt. It follows the tried-and-true “have your cake and eat it too” strategy. TD says they believe
