Forex Analysis, Reviews, Signals and Forecasts ☀️

USDJPY breaks key support level, eyes on 100-day MA

Nov 28, 2023 | 11:40 am

The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the beginning of a rally to the recent Wednesday high. For a stronger bearish sentiment to take hold, the pair would need to breach both 147.33 and the November low of 147.143.Looking at the daily chart, a fall below 147.1403 would shift focus to the rising 100-day moving average, currently at 146.90. Historical patterns show that previous tests of the 100-day MA, such as on July 14 and April 26, resulted in the price rebounding from this level, sparking new upward trends. Therefore, it's likely that buyers might initially support the price at the 100-day MA. However, if the price decisively breaks below this level, those initially looking for a low-risk buying opportunity might switch to selling, reinforcing the bearish trend. This article was written by Greg Michalowski at www.forexlive.com.

Gold imports to China have declined

Nov 28, 2023 | 11:34 am

China's net gold imports via Hong Kong fell for the second month in a row in October, according to a report published on Monday by Reuters. This is due to the uneven economic recovery affecting demand. In October, imports fell by 23% to 26,793 metric tons, compared to September's 34,757 tons.The People's Bank of China controls the amount of gold entering the country through quotas set for commercial banks in the country. The ongoing economic instability is likely to keep consumers from significant discretionary spending, potentially dampening the demand for gold.It is probable that the data from Hong Kong does not fully reflect the complete picture of Chinese purchases, as gold is also imported through Shanghai and Beijing. In October, consumer prices in China decreased, with indicators of domestic demand weakness not seen since the pandemic. Meanwhile, the country's factory price index leaned further towards deflation, worsening the prospects for overall economic recovery.The profits of Chinese industrial companies continued to grow for the third consecutive month in October, albeit at a slower pace, suggesting that additional policy support from Beijing may be needed to sustain growth.According to the data, there was also a decrease in gold shipments from Switzerland to China last week, despite Swiss gold exports to India increasing by 60% compared to the previous year.Last month, Chinese dealers were selling gold at a profit ranging from $25 to $60 per ounce compared to global spot prices, with a record-high profit of around $135 observed in September.Economists believe that the demand for gold is likely to remain subdued due to high prices until there is a replenishment of stocks ahead of the Chinese New Year.The material has been provided by InstaForex Company - www.instaforex.com

Where is the dollar's pain threshold?

Nov 28, 2023 | 11:17 am

If the markets do not go against the Federal Reserve, they are ready to test the resilience of speculators. Despite the decline in U.S. stock indices and the likelihood of a loosening of the Fed's monetary policy in 2024, EUR/USD does not retreat from the levels of November highs. Hedge funds have increased net long positions in the U.S. dollar to the highest levels since March 2022, and the market is eager to test the threshold of their pain. When will speculators finally start exiting their long positions in the U.S. currency? And if they don't?Dynamics of speculative positions on the U.S. dollarThe rapid rally of the S&P 500 in November led to widespread bullish forecasts for the broad stock index. Everyone was talking about its new records in 2024. Large banks mentioned figures of 5000, 5100. Who could offer more? And now Citigroup has finally decided to go against the crowd. According to the company, one of the best November rallies in the history of the U.S. stock market is coming to an end.Indeed, it was based on the assumption that inflation in the U.S. would quickly return to the target, and the Fed, intending to achieve a soft landing for the U.S. economy, would not keep interest rates as high as 5.5%. However, the consensus forecast of Bloomberg experts suggests that the core personal consumption expenditure (PCE) index will finish next year at 2.5%. This is higher than the October estimate of 2.4%, not to mention the target of 2%. The main reason is the growth of inflation in the services sector.U.S. inflation dynamicsIf everything turns out as expected, what is the point for the Fed to ease its monetary policy? Market expectations of a 100 basis points reduction in borrowing costs to 4.5% seem exaggerated. The issue is not that the last mile of the fight against inflation looks as difficult as the representatives of the central bank like to repeat. The point is that, according to Deutsche Bank research, it lasts longer. In such a period, the best thing the Federal Reserve can do is sit back and watch events unfold. The federal funds rate will remain on a plateau longer than investors expect. Therefore, the rally in the S&P 500 and EUR/USD has indeed gone too far.Surprisingly, representatives of the European Central Bank (ECB) seem not to understand that, with their seemingly "hawkish" speeches, they contribute to the decline of the euro. According to the head of the Bundesbank, Joachim Nagel, it would be premature to lower rates or discuss it. His colleague from France, Francois Villeroy de Galhau, claims that the best solution is to keep the cost of borrowing stable. He says there is currently no talk of increasing the dose or, in other words, further tightening monetary policy.Such rhetoric strikes a blow to risky assets and puts pressure on the main currency pair, as it allows the safe-haven asset, the U.S. dollar, to raise its head.Technically, the formation of the Double Top pattern on the daily chart of EUR/USD increases the risks of a decline in quotes. The reason for selling is the return of the euro below the pivot level at $1.094.The material has been provided by InstaForex Company - www.instaforex.com

EUR/CHF: upside seems over

Nov 28, 2023 | 09:40 am

EUR/CHF 0.9619 Key Downside Obstacle!The currency pair is moving somehow sideways in the short term and is trading at 0.9644 at the time of writing. As you can see on the H4 chart, the rate failed to reach the 0.9685 historical level (higher high), indicating exhausted buyers (overbought).The rate dropped below the uptrend line signaling that the uptrend ended and that the sellers could drag it down again. Technically, 0.9619 represents a static downside obstacle. EUR/CHF Forecast!Dropping below 0.9619 activates a deeper drop and is seen as a new selling opportunity.The material has been provided by InstaForex Company - www.instaforex.com

EUR/JPY: deeper drop to be activated

Nov 28, 2023 | 09:39 am

EUR/JPY Challenging 162.21 Downside Obstacle!The EUR/JPY pair dropped again and now is located at 162.19 at the time of writing. Technically, escaping from the up channel pattern and dropping below the former low of 162.80 activated more declines. After its strong drop, the rate rebounded today and it was almost to reach 162.80 (downside obstacle turned into an upside obstacle). Now, it has reached the former low of 162.21 which represents a downside obstacle.EUR/JPY Outlook!Dropping and stabilizing below 162.21 may announce more declines. This scenario could bring us new selling opportunities.The material has been provided by InstaForex Company - www.instaforex.com

RBNZ Official Cash Rate – NZD/USD Technical Analysis

Nov 28, 2023 | 09:33 am

Talking Points: Weekly Chart Analysis Commitment of Traders Report Analysis Important Trading considerations for all NZD pairs. An important day for the New Zealand Dollar this week as markets await the Reserve Bank of New Zealand’s Official Cash Rate announcement, RBNZ Monetary Policy Statement, RBNZ Rate Statement, and RBNZ Press Conference, the current official cash […]

EURUSD soars to new heights, bulls take charge

Nov 28, 2023 | 09:20 am

The EURUSD pair is witnessing an expansion in its trading range today. Initially, the range was confined to about 40 pips at the start of the trading day. However, as the day progressed, the range widened, now reaching approximately 74 pips, aligning with the 22-day average. This expansion indicates there was ample opportunity for movement, and the buyers capitalized on this by driving the price higher.A key technical moment occurred when the pair surpassed the 61.8% Fibonacci retracement level at 1.09589, which effectively signaled buyers to intensify their efforts. Following this, the price ascended towards 1.1010, meeting our projected target for the upside during the start of the U.S. trading session. If the momentum continues and the price moves above 1.1010, the focus shifts to the next resistance zone, which lies between 1.1041 and 1.1064, a critical area dating back to August.Conversely, for the pair to maintain its bullish trajectory (indicating a weaker USD), it would require sustaining above the key 61.8% retracement level at 1.09589. Dropping below this level, particularly towards the swing area low around 1.0944, could diminish the current bullish sentiment in the EURUSD market. In the absence of such a retracement, the buyers remain predominantly in control. For short-term traders, a significant level to watch is the 1.1000 mark, as it represents a natural support level, and a move below this could signify increasing momentum for further upside. This article was written by Greg Michalowski at www.forexlive.com.

Bitcoin Cash in buying zone

Nov 28, 2023 | 09:18 am

Bitcoin Cash dropped in the short term again as the price of Bitcoin retreated. It's located at 221.80 at the time of writing and it seems undecided. Bitcoin's deeper drop should force the altcoin to drop deeper as well, while BTC/USD's rally helps the altcoin to come back higher.In the last 24 hours, Bitcoin Cash is down by 0.74% and by 3.66% in the last 7 days. Technically, after the last leg higher, a retreat was natural as the rate needs more bullish energy. BCH/USD Accumulation!From the technical point of view, BCH/USD is trapped between 219.36 and 224.57 levels in the short term. The rate came back to test and retest the broken downtrend line and now it tries to come back higher.Bitcoin Cash escaped from the Falling Wedge pattern signaling a new leg higher. The upside scenario remains valid as long as it stays above the 219.36 level and above the ascending pitchfork's lower median line (lml).Bitcoin Cash Outlook!Testing and retesting the lower median line (lml), registering false breakdowns and a bullish closure above 224.57 activates a potential growth.Dropping below 219.36 and under the lower median line (lml) invalidates the upside scenario.The material has been provided by InstaForex Company - www.instaforex.com

Litecoin: new upward movement confirmed

Nov 28, 2023 | 09:16 am

Litecoin is trading in the green at 69.86 at the time of writing and it seems determined to extend its growth. The altcoin dropped by 6.08% from Saturday's high of 72.19 to 67.80 today's low. In the last 24 hours, Litecoin is up by 1.13% but it's down by 0.10% in the last 7 days. After the last swing higher, a temporary retreat was natural, trying to attract new buyers before jumping higher. LTC/USD Bullish Momentum!LTC/USD dropped in the short term, developing a flag pattern. This was seen as a bullish formation. The sell-off ended around the 68.00 psychological level and now it has escaped from the chart pattern. As you can see on the H1 chart, the rate jumped and closed above the 69.38 former high which represented a key upside obstacle.Litecoin Forecast!Breaking above 69.38 is seen as a long opportunity.The material has been provided by InstaForex Company - www.instaforex.com

November 28, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

Nov 28, 2023 | 09:12 am

In July 2023, the GBP/USD pair faced a strong resistance level near 1.3100 and started a fresh bearish movement.Price pursued towards the price level of 1.2700 then 1.2600 support levels where the pair showed some indecision in a tight range before it could extend its decline towards the depicted price zone around 1.2060-1.2100.A break below 1.2100 level could open the doors for more losses towards 1.1850. However, significant bullish demand has existed upon each time the market visits this price zone of 1.2060-1.2100.On the other hand, the current bullish movement will be facing a strong challenge around the price zone of 1.2750-1.2800 where a previous consolidation range was established. That's why, Price action should be watched cautiously for low-risk highreward bearish opportunity anywhere around 1.2800. Exit levels should be placed above 1.2890 with initial target level projected towards 1.2500.The material has been provided by InstaForex Company - www.instaforex.com

Euro punches above 1.10, German CPI next

Nov 28, 2023 | 08:52 am

Euro rally continues German inflation expected to fall to 3.5% US Conference Board Consumer Confidence index accelerates The euro continues to rally in Tuesday trading. In the North American session, EUR/USD is trading at 1.0998, up 0.41%. Earlier, the euro climbed as high as 1.1002, the first time the 1.10 line has been breached since […]

USDCAD retreats as dollar selling strengthens, technicals indicate bearish momentum

Nov 28, 2023 | 08:42 am

The USDCAD currency pair is experiencing a decline, reaching new lows in today's trading session, influenced by a broad sell-off in the US dollar across the Forex market. Currently, the pair is moving away from the 38.2% Fibonacci retracement level of the upward trend that began in July 2023, a significant level located at 1.35902. This level is now acting as a pivotal point for short-term risk assessment.The ability of the USDCAD to stay below this 38.2% retracement is a critical indicator that sellers are gaining momentum and potentially taking control of the market direction. This makes the 38.2% level a key determinant for future market bias and risk evaluation.Additionally, traders are closely watching another crucial technical level – the 100-day moving average, which stands at 1.35507. Breaking this level could further strengthen the bearish outlook for the pair. As of now, the lowest price reached today is 1.3563, indicating that sellers are actively pushing the pair below the 38.2% retracement mark. The key question for market participants is whether this selling pressure can be sustained and lead to a breach of the 100-day moving average, thereby confirming a stronger bearish trend in the USDCAD. This article was written by Greg Michalowski at www.forexlive.com.

November 28, 2023 : EUR/USD Intraday technical analysis and trading plan.

Nov 28, 2023 | 08:37 am

The EUR/USD pair has established an uptrend line on March 2023. Since then, the pair has respected the depicted uptrend line, achieving higher highs around (1.1080 and 1.1260 ) and higher lows around (1.0520 and 1.0650).In July 2023, aggressive bullish movement extended towards the resistance zone around 1.1270 but failed to sustain the momentum before it came back below 1.1050.The price reversed from this level and started to drop towards 1.0800, which acted as a temporary daily support before further downside movement could end the validity of this depicted uptrend line in August 2023.Shortly after, the EUR/USD pair has sustained bearish decline for a few weeks until hit its next target around 1.0450, where several previous demand levels existed. This lead to another bullish swing expressed over the past few weeks as a continuous bullish move, currently approaching the price level of 1.0990. The current bullish movement is expected to pursue towards 1.1050 before either a short-term or a long-term bearish pullback can occur. That's why, the price levels around 1.1050 can be a good opportunity to sell the EUR/USD (backside of the broken uptrend line) with Exit Levels to be located just above 1.1170. Expected bearish target levels are projected towards 1.0840 and 1.0670.The material has been provided by InstaForex Company - www.instaforex.com

Major US indices all turn into positive territory

Nov 28, 2023 | 08:11 am

The major US indices are all in positive territory now with the gains led by the Dow industrial average (+0.34%).A snapshot of the market currently shows:Dow industrial average up 118.3 points or 0.34% at 35453S&P index up 8 points or 0.18% at 4558.55NASDAQ index up 20.5 points or 0.15% at 14262The NASDAQ index 2023 high close comes in at 14358.02. The current index price is 96 point away from that target. On Thursday of last week, the high price tested that level but backed off.The S&P index high closing level for 2023 is at 4588.97. With the price at 4558, it is within 30 or so points away from that target. This article was written by Greg Michalowski at www.forexlive.com.

AUDUSD Breakout: Bulls gain control as price surges above key levels

Nov 28, 2023 | 07:46 am

The AUDUSD broke above it 38.2% retracement of the 2023 trading range as 0.66087, and in doing so increase the bullish bias from a technical perspective. He would now take a move back below that 38.2% retracement to hurt the buyers and give them some cause for pause that more upside momentum is in jeopardy.Another risk defining level for buyers is the 200 day moving average. On Monday, the price extended above that moving average at 0.65817 and moved toward the 38.2% retracement target. More conservative buyers would look toward that moving average as a risk defining level.So overall the buyers are taking more control. With the break of the 200 day moving average and the 38.2% retracement there is a lot of resistance until the price extends toward the 0.67000 natural resistance level. Above that the 50% midpoint of the 2023 range comes in at 0.67134. This article was written by Greg Michalowski at www.forexlive.com.

Australian dollar rises ahead of CPI

Nov 28, 2023 | 07:42 am

Australian retail sales decline by 0.2% Australian CPI expected to fall to 5.2% The Australian dollar has posted gains on Tuesday. In the North American session, AUD/USD is trading at 0.6630, up 0.35%. Australia releases October inflation on Wednesday and is expected to fall from 5.6% to 5.2% y/y. The inflation rate remains much higher […]

GBP/JPY: flag pattern

Nov 28, 2023 | 07:29 am

The GBP/JPY pair dropped in the short term, which was natural after its strong leg higher. It could only test and retest the near term support levels before jumping higher again. The price is located at 187.56 at the time of writing. The bias remains bullish despite the current drop as the Yen Futures maintain a bearish outlook.Fundamentally, the BOJ Core CPI reported only a 3.0% growth even if the traders expected a 3.4% growth. On the other hand, the UK BRC Shop Price Index increased by 4.3% less compared to 5.2% growth in the previous reporting period. GBP/JPY Trading In The Green!From the technical point of view, the GBP/JPY pair dropped within a down channel (flag pattern). This could represent a bullish formation.It has found support on the 38.2% retracement level (187.03) and has now turned to the upside again. False breakdowns below 187.08 signaled exhausted sellers. Now, the instrument is challenging the 23.6% Fibonacci level (187.65). The downtrend line and 187.83 represent upside obstacles.GBP/JPY Forecast!Testing and retesting the flag's resistance and registering false breakouts should announce a new sell-off. Still, only a bearish closure below 187.00 activates more declines and is seen as a selling opportunity. Jumping and closing above the downtrend line and above 187.83 validates upward movement. This brings new longs.The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD: Deceptive silence

Nov 28, 2023 | 07:05 am

The EUR/USD currency pair is trading in a narrow price range but remains within the 9-figure range. The contradictory fundamental background prevents traders from determining the price movement vector. EUR/USD buyers are attempting to establish themselves above the 1.0960 level (upper Bollinger Bands line on the four-hour chart), while sellers are making mirror attempts to pull the price towards the base of the 9-figure or even below the 1.0880 level (lower Bollinger Bands line on H4). Both sides have not emerged victorious, and the pair is fluctuating in the range of 1.0910 – 1.0960, reflecting the indecision of both bulls and bears. Traders essentially ignored yesterday's speech by ECB President Christine Lagarde. In essence, she did not say anything new, so the impact of this fundamental factor was extremely limited. Speaking in the European Parliament, she reiterated that it is too early to declare victory over inflation despite the downward dynamics of key indicators. According to the ECB's forecasts, the weakening of inflationary pressure will continue, but in the coming months, the overall Consumer Price Index may rise again. Lagarde said the regulator will closely monitor various factors influencing inflation and "firmly adhere to the mandate of ensuring price stability." In other words, the ECB head voiced general statements without any specifics but demonstrated a combat readiness, warning of an acceleration of inflation in the coming months. Traders clearly expected more from Lagarde, so after her speech, the pair suspended its intraday growth and drifted within the range of 1.0930–1.0950.At the same time, risk-off sentiments intensified in the market yesterday, putting the pair under background pressure. China was again in the spotlight. Stock indices of the largest countries in the Asia-Pacific region declined on Monday—in particular, China's Shanghai Composite index fell by 0.3%, Hong Kong's Hang Seng by 0.2%, and Japan's Nikkei 225 by 0.5%. Such dynamics were due to negative news flow. In particular, it became known that in January–October, the profits of large Chinese companies decreased by almost 8% (7.8%) year-on-year. In addition, market participants reacted to the news that Zhongzhi Enterprise, the largest Chinese asset management company, informed investors that it could not meet its obligations. In a letter to investors, the investment fund stated that it could no longer service its debts. According to some experts, this will lead to a wave of bankruptcies of banks, trust and insurance companies due to ZE's close ties to the development business (according to other analysts, the company does not pose a systemic threat to the real estate and financial sectors).However, during the European session on Tuesday, the overall market sentiment improved, as evidenced by the rise in S&P 500 futures. Market participants, apparently, paid attention to the sustainable recovery of the U.S. bond market, as the yield on 10-year Treasury again dropped below the key level of 4.40% (4.3940% at the moment).As mentioned earlier, buyers of the pair need to achieve the "minimum program," that is, establish themselves above the target of 1.0960 (upper Bollinger Bands line on the H4 timeframe). The next destination is the level of 1.1030 (upper Bollinger Bands line on the D1 timeframe). Traders have been testing the 1.0960 level for the second consecutive week, but each time, they bounce off it, declining towards the base of the 9-figure. The caution of EUR/USD buyers is justified, as key inflation growth data for the eurozone will be published in just two days. It's essential to remember that the pair is holding its ground not only due to the overall weakness of the U.S. dollar but also thanks to the decent positions of the euro, which is finding support from the ECB. European Central Bank representatives have indeed recently tightened their rhetoric, hinting at possible additional interest rate hikes. However, if inflation in the eurozone slows more than expected, the "hawkish wing" of the European regulator may come under pressure and likely soften its stance. Consequently, the euro will lose an important fundamental advantage. Note that a decrease in both the overall and core CPI is expected in November. Therefore, EUR/USD buyers will be assisted only by a green inflation report.However, support for the pair's bulls may also come from the U.S. release. As is known, on Thursday, the core PCE index will be announced—one of the Fed's "favorite" inflation indicators. Here, too, a downward trend is expected (down to 3.5%). A more significant decline in the indicator will exert additional pressure on the greenback, allowing EUR/USD buyers to make a leap towards the 10-figure range.Thus, traders of the pair are awaiting key macroeconomic releases of the week. In the face of such uncertainty, one should not expect any decisive actions from buyers/sellers of the pair. Probably, in the near future (until Thursday), the pair will continue to drift in the range of 1.0910–1.0960.The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY dynamics scenarios on November 28, 2023

Nov 28, 2023 | 06:52 am

Last month, USD/JPY broke the psychologically significant level of 150.00 and, in the middle of this month, again approached the record high of 151.95 reached in October 2022.However, over the past three incomplete trading weeks, including the current one, USD/JPY has been actively declining, touching the level of 147.15 last week, the lowest since mid-September. As of writing, the pair was trading near 148.65, in the zone of a short-term bearish market, below important short-term resistance levels of 149.58 (200 EMA on the 4-hour chart), 149.29 (200 EMA on the 1-hour chart).Nevertheless, despite the correction of almost 400 points, USD/JPY maintains a positive momentum, trading in the area of a sustainable bullish market, above key medium-term and long-term support levels of 145.40 (200 EMA on the daily chart), 145.00, 144.00, 143.60 (144 EMA on the daily chart), 131.50 (144 EMA on the weekly chart), 128.00, 127.50 (200 EMA on the weekly chart). At a press conference following the recent Fed meeting, Federal Reserve Chairman Jerome Powell said that given the already covered distance and the current uncertainty, the regulator will act cautiously and make decisions based on a combination of all data and risk balance. Powell's position on the need for further tightening of monetary conditions was seen by market participants as cautious, leading to a weakening of the dollar amid its sales.The main role in the dynamics of USD/JPY at the moment is played by the dollar. In this regard, it will be interesting to hear Powell's opinion on Friday regarding the near-term prospects for the credit and monetary policy of the U.S. Central Bank.Considering the fact that USD/JPY continues to trade in a bullish market zone, in the medium and long term, preference should still be given to long positions, although in the short term, a new wave of corrective decline is possible. In the main scenario, we expect a resumption of growth. The first signal for this could be a breakout of today's high at 148.82, and the confirming levels of resistance are 149.15 (50 EMA on the daily chart), 149.29 (200 EMA on the 1-hour chart), 149.58 (200 EMA on the 4-hour chart).In an alternative scenario, a signal to open new short positions could be a breakdown of the local support level of 148.00 and today's low of 147.95.If the downward correction does not stop near the current levels, the decline may continue to the local support level of 145.00 and key support levels of 144.00, 143.60.Further decline will lead the pair into the zone of a medium-term bearish market.Support levels: 148.00, 147.95, 147.00, 146.00, 145.40, 145.00, 144.00, 143.60, 143.00Resistance levels: 148.82, 149.00, 149.15, 149.29, 149.58, 150.00, 151.00, 151.70, 151.95, 152.00, 153.00Trading Scenarios:Buy Stop 148.90. Stop Loss 147.90. Targets 149.15, 149.29, 149.58, 150.00, 151.00, 151.70, 151.95, 152.00, 153.00Sell Stop 147.90. Stop Loss 148.90. Targets 147.00, 146.00, 145.40, 145.00, 144.00, 143.60, 143.00The material has been provided by InstaForex Company - www.instaforex.com

What to pay attention to on November 28th? Analysis of fundamental events for beginners

Nov 28, 2023 | 06:49 am

Analysis of macroeconomic reports:No macroeconomic events are scheduled for Tuesday. On the one hand, this is good because novice traders won't see sharp rises and falls in currency pairs today. On the other hand, it's bad because there is also a 90% probability of no movements today. Of course, market movements don't only occur on days with important macroeconomic publications. However, the market tends to trade much more actively when they are present.Analysis of fundamental events:Among the fundamental events on Tuesday, there are several noteworthy ones. However, all these events have almost no potential to impact the movements of the euro, pound, or dollar. In the EU, speeches by Philip Lane and Christine Lagarde are planned. Dave Ramsden from the Bank of England is scheduled to speak in the US. In the US, representatives from the Federal Reserve, including Lael Brainard, Michelle Bowman, and Christopher Waller, will also make statements. But, as mentioned earlier, there is no expectation of significant statements from these officials, as all three central banks are not inclined to raise or lower the key interest rate soon.General conclusions:Essentially, on Tuesday, traders have little to focus on. Most of the day has already passed, and it is evident that movements are practically absent. Most likely, this situation will persist until the end of the day.Basic rules of the trading system:The strength of the signal is determined by the time it takes to form the signal (rebound or overcome the level). The less time it took, the stronger the signal.If two or more trades on false signals were opened near any level, all subsequent signals from that level should be ignored.In a flat, any pair can generate many false signals or not generate them at all. But in any case, it is better to stop trading at the first signs of a flat.Trades are opened between the start of the European session and the middle of the American session when all trades must be closed manually.On the 30-minute timeframe, trades based on signals from the MACD indicator can only be made in the presence of good volatility and a trend confirmed by the trend line or channel.If two levels are located too close to each other (from 5 to 15 points), they should be considered as a support or resistance area.What is on the charts:Support and resistance levels – levels that are targets when opening buy or sell positions. Take Profit levels can be placed near them.Red lines – channels or trend lines that reflect the current trend and show in which direction it is preferable to trade now.MACD indicator (14, 22, 3) – histogram and signal line – an auxiliary indicator that can also be used as a source of signals.Important speeches and reports (always included in the news calendar) can greatly affect the currency pair's movement. Therefore, during their release, it is recommended to trade as cautiously as possible or exit the market to avoid a sharp reversal of the price against the previous movement.For beginners trading in the forex market, it is important to remember that only some trades can be profitable. Developing a clear strategy and money management are the keys to success in trading over the long term.The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY bulls don't intend to give up without a fight

Nov 28, 2023 | 06:44 am

It's time for the Bank of Japan to rid itself of ultra-loose monetary policy. Not only has inflation exceeded the 2% target for the 19th consecutive month, but the losses from the BoJ's balance sheet bonds from April to September have surged to £10.5 trillion. This is equivalent to $70.7 billion, more than six times the losses for the entire 2022/2023 fiscal year. While this alone won't make Kazuo Ueda abandon negative rate policies, it can be used as one of the arguments, which is good news for USD/JPY bears.It can't be said that the new head of the Bank of Japan is sitting idle. Under his leadership, the range of the targeted yield for 10-year bonds was expanded to 1%, and its boundaries became flexible. Getting rid of the legacy of the past is in progress. However, if this process is accelerated, it could harm both the domestic economy and financial markets.Japan is known to be the largest holder of U.S. Treasury bonds. If the BoJ begins to normalize monetary policy, there is a significant risk of capital repatriation to Asia, pushing bond yields higher and exerting pressure on the global economy. Japanese banks, insurance companies, and pension funds reduced their holdings of U.S. bonds to $550 billion by the end of 2022, compared to $840 billion two years prior. In 2023, the process was restrained by a weak yen, but in 2024, it risks accelerating.The slowdown in U.S. inflation gives markets grounds to predict a 100 basis point rate cut to 4.5% in federal funds. This leads to a decline in bond yields and the U.S. dollar. At the same time, a roughly 20% drop in oil prices from September highs can accelerate this process.Dynamics of U.S. bond yields and oil pricesSo, USD/JPY bears will benefit twice. As an energy-importing country, Japan benefits from falling oil prices. Simultaneously, the reduction in U.S. Treasury yields narrows the spread with their Japanese counterparts and strengthens the yen against the U.S. dollar.The basis for this process is the divergence in monetary policy between the Fed and BoJ. If Ueda has no choice but to gradually abandon targeting the yield curve, negative rates, and QE, then Jerome Powell and his team must consider the need to ease monetary policy. The divergence between the U.S. and Japan could make the yen the main favorite in the Forex market in 2024.Technically, on the daily chart of USD/JPY, bulls are trying to prove themselves. The formation of two consecutive pin bars within the 1-2-3 pattern is a strong reversal formation. Therefore, a confident assault on the fair value at 149.65 could be the basis for buying. However, it may not come to that, so we continue to sell the dollar towards 146.0 and 142.5.The material has been provided by InstaForex Company - www.instaforex.com

Maximize low risk trading opportunities in USDCHF with these expert tips

Nov 28, 2023 | 06:35 am

The USDCHF is keeping a bearish bias in trading this week with most of the price action through the 1st 2 trading days below its 61.8% retracement of the move up from the July low to the early October high. That level comes in at 0.88186. Staying below that level keeps the sellers more in control. On the downside, more momentum would have traders looking toward a swing area between 0.8728 and 0.8743. That area is home to a number of swing lows and highs going back to July and August before the run to the early October high.So the sellers remain in control. Close risk is the 61.8% retracement. The next target below has traders looking toward swing area support between 0.8728 – 43. This article was written by Greg Michalowski at www.forexlive.com.

How to trade the GBP/USD currency pair on November 28th? Simple tips and analysis of deals for beginners

Nov 28, 2023 | 06:29 am

Analysis of Monday's transactions:1-hour chart of the GBP/USD pair.The GBP/USD pair, at the end of the first trading day of the week, remained in the same place where it started the week. Volatility on Monday was very weak, as we warned over the weekend. However, this is not surprising since no significant events existed in the UK or the US. Despite lacking informational support in half of the cases, the British pound continues to grow confidently. And on days when it doesn't grow, it doesn't fall either. Look at how far the ascending trend line is and how weak the recent corrections are. The entire movement is reminiscent of inertia or speculation when the currency appreciates because it is being bought. And it is bought because it appreciates.5-minute chart of the GBP/USD pair.On Monday, exactly two trading signals were formed in the 5-minute timeframe. The price was at 1.2605-1.2620 during the European trading session and barely left it in 5 or 6 hours. However, after forming this buy signal, it could not move even 20 points in the right direction. Later, the pair returned to the range of 1.2605-1.2620 but left it for the second time practically overnight. Therefore, the question was only where to close the first buy deal. And it could be closed almost anywhere since no sell signals were formed. It was extremely difficult to profit from it, but there could be no significant loss either.How to trade on Monday:On the hourly timeframe, the GBP/USD pair continues to be ascending, but we still believe it will end soon. Now, we have an ascending trend line, the overcoming of which will determine the end of the upward trend. However, it is located quite far from the price. There are no significant reasons for the pound to continue to rise, but the market keeps it at its highest position in months. On the 5-minute timeframe, tomorrow you can trade at levels 1.2164-1.2179, 1.2235, 1.2270, 1.2310, 1.2372-1.2387, 1.2457-1.2488, 1.2544, 1.2605-1.2620, 1.2653, 1.2688, 1.2748. After the price moves in the right direction by 20 points after opening a trade, you can set the Stop Loss at breakeven. On Tuesday, no important publications are planned in the UK or the US. Therefore, today's volatility is very weak, and we observe almost the same movements as yesterday.Basic rules of the trading system:The strength of the signal is determined by the time it takes to form the signal (rebound or overcome the level). The less time it took, the stronger the signal.If two or more trades on false signals were opened near any level, all subsequent signals from that level should be ignored.In a flat, any pair can generate many false signals or not generate them at all. But in any case, it is better to stop trading at the first signs of a flat.Trades are opened between the start of the European session and the middle of the American session when all trades must be closed manually.On the 30-minute timeframe, trades based on signals from the MACD indicator can only be made in the presence of good volatility and a trend confirmed by the trend line or channel.If two levels are located too close to each other (from 5 to 15 points), they should be considered as a support or resistance area.What is on the chart:Support and resistance levels - levels that are targets when opening buy or sell positions. Take Profit levels can be placed near them.Red lines - channels or trend lines that reflect the current trend and show in which direction it is preferable to trade now.MACD indicator (14, 22, 3) - histogram and signal line - an auxiliary indicator that can also be used as a source of signals.Important speeches and reports (always included in the news calendar) can greatly affect the currency pair's movement. Therefore, during their release, it is recommended to trade as cautiously as possible or exit the market to avoid a sharp reversal of the price against the previous movement.For beginners trading in the forex market, it is important to remember that only some trades can be profitable. Developing a clear strategy and money management are the keys to success in trading over the long term.The material has been provided by InstaForex Company - www.instaforex.com

Monthly technical analysis on XRPUSD for November 2023.

Nov 28, 2023 | 06:01 am

Red line- major resistance trend lineBlack line- major support trend lineXRPUSD is trading around $0.60 at the end of November. Having reached as high as $0.7484, bulls were unable to maintain price above $0.70. The long-term red downward sloping resistance trend line remains intact. As long as this is the case, there is no bullish scenario. The candlestick of November has so far shown that XRPUSD remains inside its sideways trend and bulls are not strong enough for a break out. The long-term triangle pattern is still in play with price trapped between the red resistance trend line and the black upward sloping support trend line. XRPUSD formed a new lower high, implying that the next month could see price decline towards the black support trend line. As long as price is below $0.7484, XRPUSD will remain vulnerable to more downside. Bulls need to recapture $0.75 in order to hope for a test of the resistance at $0.86.The material has been provided by InstaForex Company - www.instaforex.com

CB consumer confidence. USA, 17:00 (GMT+2)

Nov 28, 2023 | 06:00 am

At 17:00 (GMT+2), the November consumer confidence index from the Conference Board will be published in the United States. It is based on a survey of 5K American households and considers their vision of the current and future economic situation. It is a leading indicator that predicts consumer spending that is part of economic activity. The value is expected to decrease from 102.6 points to 101.0 points, putting pressure on the American dollar. Read more

EURUSD, GBPUSD, and USDJPY: Technical Analysis and Trading Opportunities

Nov 28, 2023 | 05:51 am

As North American trading gets underway, the trading ranges for the EURUSD and GBPUSD are very narrow. There is room to roam and the topside is being pushed.Looking at the EURUSD, traders are pushing the price above the 61.8% retracement of the move down from the July high to the October low. That level comes in at 1.09589. Getting and staying above that level should open up the door toward the 1.1000 level, the 1.1010 and then a swing area between 1.1041 and 1.1050.The GBPUSD moved above its 50% midpoint on Friday at 1.25886 and yesterday stayed above that level at the day's session lows. Today, the low price of 1.2605 was more comfortably above that midpoint level. So buyers are making a play. The problem is the momentum is not all that great. The trading ranges around 40 pips and that is a lot. Nevertheless, if it breaks above yesterday's high near 1.2644, I would expect the buyers to take more control and push the price higher.For the USDJPY, the selling from yesterday continued in the Asian session today before bouncing higher in the European session. The good news is that the balance did find resistance the sellers near a swing level around 148.80. Staying below that level would keep the sellers in play. This article was written by Greg Michalowski at www.forexlive.com.

Technical analysis on Gold for November 28th, 2023.

Nov 28, 2023 | 05:48 am

Red lines- bullish channelGold price is trading around $2,020 to new short-term highs. Trend remains bullish as Gold is still inside the red upward sloping channel making higher highs and higher lows. Te RSI has just reached overbought levels with no sign of a bearish divergence. Bulls remain in full control of the short-term trend. Recent low at $2,011 is short-term support. At $2,007 we find the lower channel boundary providing support also. A pull back towards $2,005 is justified from current levels, but so far there is no sign of a bigger reversal to be expected.The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY Mid-Day Outlook

Nov 28, 2023 | 05:43 am

Daily Pivots: (S1) 148.26; (P) 148.97; (R1) 149.40; More… Intraday bias in USD/JPY remains on the downside for the moment. Fall from 151.89 should be resuming, and should target 147.14 support first. Further break of 61.8% projection of 151.89 to 147.14 from 149.66 at 146.72will pave the way to 100% projection at 149.91, which is […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex.

Ichimoku cloud indicator analysis on EURUSD for November 28th, 2023.

Nov 28, 2023 | 05:41 am

EURUSD is trading around 1.0950. In Ichimoku cloud terms in the 4 hour chart, trend remains bullish as price continues to stay above the Kumo (cloud). The Chikou span (black line indicator) remains above the candlestick pattern (bullish). The tenkan-sen (red line indicator) provide support at 1.0945, while the kijun-sen (yellow line indicator) provides support at 1.0910 where we also find the upper cloud boundary. A break below 1.0945 will be a sign of weakness and price will tend to move lower towards the cloud support. In the meantime EURUSD continues making higher highs and higher lows. So far there is no sign of a reversal. Bulls remain in control of the trend.The material has been provided by InstaForex Company - www.instaforex.com

USD/CHF Mid-Day Outlook

Nov 28, 2023 | 05:40 am

Daily Pivots: (S1) 0.8790; (P) 0.8809; (R1) 0.8824; More…. No change in USD/CHF’s outlook and intraday bias stays on the downside. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. Nevertheless, break of 0.8873 resistance will turn bias to the upside for stronger rebound. In the bigger […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

GBP/USD Mid-Day Outlook

Nov 28, 2023 | 05:38 am

Daily Pivots: (S1) 1.2597; (P) 1.2621; (R1) 1.2650; More… Intraday bias in GBP/USD stays on the upside for the moment. Current rise from 1.2036 should target 61.8% retracement of 1.3141 to 1.2036 at 1.2716. Upside could be capped there on first attempt, on loss of momentum as seen in 4H MACD. On the downside, below […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

Ichimoku cloud indicator analysis on USDJPY for November 28th, 2023.

Nov 28, 2023 | 05:37 am

USDJPY is trading around 148.43. In Ichimoku cloud terms trend is now neutral as price has entered the Daily Kumo (cloud). This is a sign of weakness. Price was unable to push above the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Instead price closed below the upper cloud boundary yesterday. The Chikou span (black line indicator) remains below the candlestick pattern (bearish). USDJPY is vulnerable to a move towards the lower cloud boundary around 147.30. As long as price is below the tenkan-sen and the kijun-sen indicators at 149.30-149.55, USDJPY will remain weak and vulnerable to a deeper correction.The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY: bullish pattern violated

Nov 28, 2023 | 05:28 am

The currency pair dropped a little in the short term as the Dollar Index crashed while the Japanese Yen Futures rebounded. It's located at 148.64 at the time of writing and is fighting hard to come back higher. Fundamentally, the Japanese BOJ Core CPI reported a 3.0% growth versus the 3.4% growth estimated. Though, only the US economic figures could move the rate. CB Consumer Confidence may drop to 101.0, HPI is expected to report a 0.4% growth, Richmond Manufacturing Index could be reported at 1 point, while S&P/CS Composite-20 HPI may announce a 4.0% growth. Positive US data could help USD to take full control again. USD/JPY 148.82 Key Resistance!As you can see on the H1 chart, the rate dropped in the short term, developing a flag pattern. This is seen as a bullish formation. The price escaped from this chart formation and now it has retested the broken downtrend line. It's trapped between the 148.82 static resistance and the 148.36 downside obstacle. USD/JPY Forecast!Staying above 148.36 and above the broken uptrend line and making a new higher high, a bullish closure above 148.82 activates further growth and is seen as a buying opportunity. The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD Mid-Day Outlook

Nov 28, 2023 | 05:26 am

Daily Pivots: (S1) 1.0933; (P) 1.0946; (R1) 1.0967; More… Intraday bias in EUR/USD remains neutral at this point. Consolidation pattern from 1.0964 could still extend further. But after all. further rally is in favor as long as 1.0823 support holds. Sustained break of 61.8% retracement of 1.1274 to 1.0447 at 1.0958 will resume the rise […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

XAU/USD gold price analysis today: Gold is stable around the highest level in 6 months - 28 November 2023

Nov 28, 2023 | 05:09 am

Explore the gold market trends: How US dollar dynamics, central bank actions, and geopolitical factors are influencing gold prices (XAU/USD) and what's next

AUDUSD Technical Analysis

Nov 28, 2023 | 05:07 am

USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward. The labour market is starting to show weakness as Continuing Claims are now rising at a fast pace and the recent NFP report missed across the board. Last week though, the US Jobless Claims beat forecasts by a big margin, although volatility in the data is normal.The latest US PMIs came basically in line with expectations with a miss in the Manufacturing index and a beat in the Services measure. The recent Fedspeak has been leaning on the hawkish side, but the recent data suggest that the Fed is likely done for the cycle. The market doesn’t expect the Fed to hike anymore.AUDThe RBA raised the cash rate by 25 bps as expected as the central bank judged that the move was warranted to be more assured that inflation would return to target in a reasonable timeframe.The CPI report recently surprised to the upside prompting the market to price in a higher chance of another rate hike from the RBA in November, which is what we eventually got. The RBA Governor Bullock has been leaning on a more hawkish side recently, but the central bank remains optimistic on the future outlook.The labour market continues to weaken as seen also recently with the bulk of jobs added being part-time.The wage price index surprised to the upside as wage growth in Australia remains strong.The recent Australian PMIs fell further into contraction for both the Manufacturing and Services sectors.The RBA Meeting Minutes released last week were more hawkish than expected and showed that the central bank is now more worried about inflation expectations getting out of hand.The market expects the RBA to hold rates steady at the next meeting.AUDUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that AUDUSD is getting closer to the key trendline around the 0.6660 level where we can also find the 61.8% Fibonacci retracement level for confluence. We can expect the sellers to step in around the trendline more aggressively with a defined risk above it to position for a drop back into the support zone at 0.65 and upon a further break, target new lows. AUDUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price has been diverging with the MACD for quite some time right as it approaches the key trendline. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it might be another confirmation for the sellers that we could see at least a deeper pullback soon. More conservative sellers might want to wait for the price to break the rising wedge pattern to the downside before piling in and target the support at 0.65. AUDUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the price bounced on the bottom trendline as the buyers stepped in to position for a rally into the key trendline. The sellers, on the other hand, will want to see the price breaking lower to invalidate the bearish setup and position for a drop into the support zone. Upcoming EventsToday, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. Tomorrow, we will see the Australian Monthly CPI report which is going to be important for the RBA given the recent hawkish stance. On Thursday, we will see the US PCE and US Jobless Claims data with the market likely focusing more on the latter given that we already saw the latest inflation data with the US CPI report just two weeks ago. Finally, on Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

EUR/USD: imminent breakout

Nov 28, 2023 | 05:06 am

The EUR/USD pair is trading in the green at 1.0955 at the time of writing and it seems determined to extend its growth. The bias is bullish as the Dollar Index remains bearish. Still, an upside continuation needs to be confirmed as the rate stands below key resistance.As you already know, the US New Home Sales came in worse than expected yesterday weakening the USD. Today, the German Gfk Consumer Climate came in higher at -27.8 points versus -28.2 points estimated. Later, the US CB Consumer Confidence should really shake the price. The indicator is expected to drop to 101.0 from 102.6. EUR/USD Bullish Bias!As you already know from yesterday's analysis, the EUR/USD pair is trapped between 1.0965 and 1.0927 levels. Its failure to take out the 1.0927 immediate support announced strong buyers and strong bullish pressure. It continues to challenge the 61.8% (1.0959) retracement level. Staying near the resistance levels may announce an imminent breakout and an upside continuation.EUR/USD Outlook!Jumping and closing above 1.0965 validates an upside continuation. This scenario brings new long opportunities.The material has been provided by InstaForex Company - www.instaforex.com

Gold accumulates more bullish energy

Nov 28, 2023 | 05:05 am

The yellow metal is trading at 2,015 at the time of writing. It has changed little in the short term but the bias remains bullish. USD's depreciation versus its rivals forced the XAU/USD to jump higher. You already know from my previous analysis that Gold remains under strong upside pressure after failing to take out the immediate uptrend line. XAU/USD moves sideways as the traders are waiting for the US CB Consumer Confidence data before taking action. The indicator is expected at 101.0 versus 102.6 in the previous reporting period. In my opinion, poor US data should boost XAU/USD. XAU/USD Undecided!As you already know from my analysis yesterday's analysis, XAU/USD is bullish as long as it stays above the uptrend line. 2,017 stands as a key static resistance.On the other hand, the uptrend line and 2,005 represent downside obstacles. Technically, staying near the uptrend line may announce exhausted buyers and a potential breakdown. Gold Outlook!Testing and retesting the uptrend line followed by a bullish closure above 2,017 activates further growth. This is seen as a buying opportunity. Only a new lower low, dropping below 2,005 brings new shorts.The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY analysis: Movement May Reach Buying Levels - 28 November 2023

Nov 28, 2023 | 05:02 am

Discover the latest USD/JPY market dynamics: Analysis of the Dollar/Yen's downward trend amid US economic data and Federal Reserve policy insights.

The CAD is the strongest and the CHF is the weakest as the NA session begins.

Nov 28, 2023 | 05:00 am

As the North American session begins, the CAD is the strongest and the CHF is the weakest. The USD is mixed to lower. US stocks are little changed after falling modestly. Yields are little changed after falling yesterday (10 year yield was down -9.5 basis points yesterday).Yesterday consumers went to the cyber mall and spent. The sales are estimated to have reached a record high, exceeding $12 billion according to Adobe Digital Insights' preliminary estimates. Despite concerns about inflation and high interest rates affecting U.S. shoppers, expenditures were expected to break previous records. Retailers responded to the economic pressures on consumers by offering significant discounts and buy now, pay later options. Adobe projects spending between $12 billion and $12.4 billion on various products, from toys to tech gadgets. If spending reached the upper estimate, it would represent a 9.7% increase compared to last year's Cyber Monday. Wow.Oil prices are higher in early US trading on expectations that OPEC+ might extend or increase its current production cuts. OPEC+ is scheduled to have an online ministerial meeting on Thursday, which was postponed from Sunday due to disagreements among members about production targets. Saudi Arabia, has been working towards a consensus on the need to cut output further. This move comes in response to a recent drop in oil prices, attributed to concerns of oversupply, especially following high production levels in non-OPEC countries like the United States are at record levels.The Fed Blackout Period will begin on Saturday ahead of the Fed's interest rate decision on December 13. Judging from the topics only, the speeches from Waller and Bowman are the most relevant heading into the quiet period. Fed's Powell will get one last shot to address the markets on Friday at 11 AM ET. Schedule of key events and speeches (in GMT/US Eastern time):10 AM ET: Austan Goolsbee of the Federal Reserve Bank of Chicago opens the "Who Owns Midwest Farmland? And Why?" conference.10:05 AM ET: Federal Reserve Board Governor Christopher Waller speaks on the economic outlook at an American Enterprise Institute event.10:45 AM ET: Federal Reserve Board Governor Michelle Bowman discusses "Monetary Policy and the Economy" at a Utah Bankers Association breakfast.1:05 PM ET: Federal Reserve Vice Chair for Supervision Michael Barr speaks virtually on the Community Reinvestment Act.2:30 PM ET: Kathleen O'Neill Paese and Mark Gould of the Federal Reserve participate in a discussion on FedNow.3:30 PM ET: Michael Barr discusses the Community Reinvestment Act at the Opportunity Finance Network Fireside Chat.The Federal Reserve's blackout period starts on SaturdayA snapshot of the markets to kickstart the North American session shows:Crude oil is trading up $0.81 or 1.08% at $75.66. Yesterday at this time, the price was trading at $74.90Spot gold is trading up $1.79 or 0.09% at $2015.41. Yesterday at this time, the price was trading at $2013.12Spot silver is trading up $0.05 or 0.20% at $24.67. Yesterday at this time, the price was trading at $24.72Bitcoin is trading higher at $37,254. Yesterday at this time, the price was trading at $37,019. In the US stock market, the major indices are implying a mixed opening:Dow Industrial Average is trading up 8.53 points. Yesterday, the index fell -56.68 points or -0.16% at 35333.48S&P index is trading down -3.5 points points. Yesterday, the index fell -8.89 points or -0.19% at 4550.44NASDAQ index is down -8 points. Yesterday, the index fell -9.83 points or -0.07% at 14241.02In the European equity markets, the major indices are trading mixed/mostly lower:German DAX, -0.13%France's CAC, -0.54%UK's FTSE 100, -0.32%Spain's Ibex, +0.29%Italy's FTSE MIB, -0.30% (10 minute delay)In the US debt market, yields are trading lower:US 2Y T-NOTE: 4.872% +1.6 basis points. The level from this time yesterday was at 4.936%US 5Y T-NOTE: 4.396% +0.6 basis points. The level from this time yesterday was at 4.44%US 10Y T-NOTE: 4.392% +0.4 basis points. The level from this time yesterday was at 4.464%US 30Y BOND: 4.536% +0.3 basis points. The level from this time yesterday was at 4.596%2 – 10-year spread closed at -47.9 basis points. The level from this time on Friday was at -47.5 basis points2 – 30 year spread closed at -33.8 basis points. The level from this time on Friday was at -34.5 basis pointsIn the European debt market, benchmark 10-year yields are trading mixed: This article was written by Greg Michalowski at www.forexlive.com.

GBP/USD Analysis: Caution Against Profit-Taking Sales - 28 November 2023

Nov 28, 2023 | 04:58 am

Explore the latest GBP/USD trends and forecasts: Insights on the Pound's potential rise amid US economic data releases and technical analysis perspectives

EUR/USD Analysis: The Bulls’ Dominance Continues, But.... - 28 November 2023

Nov 28, 2023 | 04:52 am

Get the latest EUR/USD analysis: Trends, expert insights, and key data impacting the Euro's movement against the US dollar in the dynamic forex market

NZD/USD eyes RBNZ rate meeting

Nov 28, 2023 | 04:51 am

RBNZ likely to maintain rates at 5.5% US CB Consumer Confidence expected to fall The New Zealand dollar posted slight gains earlier on Tuesday but has recovered. In the European session, NZD/USD is trading at 0.6101, up 0.07%. RBNZ expected to hold rates The Reserve Bank of New Zealand meets on Wednesday and is likely […]

Trading Signals for EUR/USD for November 28-29, 2023: sell if breaks 1.0931 (21 SMA - symmetrical triangle)

Nov 28, 2023 | 04:43 am

Early in the American session, the Euro is trading around 1.0955 within a symmetrical triangle formed since November 20 and above the 21 SMA. However, a technical correction below 1.0931 is expected to occur. If the price breaks the uptrend channel, then it could fall towards the 200 EMA located at 1.0764.In the coming hours during the US session, the consumer confidence data for November will be released. If this data is disappointing, it could cause a weakness in the dollar and give a strong bullish impulse to the euro. So, EUR/USD could reach the psychological level of 1.10.However, if the data is positive for the US dollar, the euro is likely to reach the area of +1/8 Murray located at 1.0864 and could even reach the 200 EMA at 1.0764.On the 4-hour chart, we can see that the EUR/USD pair keeps its uptrend channel intact. Therefore, in case a strong break below this channel around 1.0890 occurs, it could mean a change in the trend and the euro could return to 1.0740 and could even reach 7/8 Murray at 1.0620.In view of the fact that the euro is showing overbought signs and for the euro to continue to rise, we should expect a sharp correction and then from there, buying could resume. Therefore, in the short term, as long as the EUR/USD trades below the psychological level of 1.10, there is an opportunity to sell with the target at 1.06.The material has been provided by InstaForex Company - www.instaforex.com

Forex forecast 11/28/2023: EUR/USD, AUD/USD, Oil and Bitcoin from Sebastian Seliga

Nov 28, 2023 | 04:38 am

Let's take a look at the technical picture of EUR/USD, AUD/USD, Oil and Bitcoin.The material has been provided by InstaForex Company - www.instaforex.com

NZDUSD Technical Analysis

Nov 28, 2023 | 04:00 am

USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward. The labour market is starting to show weakness as Continuing Claims are now rising at a fast pace and the recent NFP report missed across the board. Last week though, the US Jobless Claims beat forecasts by a big margin, although volatility in the data is normal.The latest US PMIs came basically in line with expectations with a miss in the Manufacturing index and a beat in the Services measure. The recent Fedspeak has been leaning on the hawkish side, but the recent data suggest that the Fed is likely done for the cycle. The market doesn’t expect the Fed to hike anymore.NZDThe RBNZ kept its official cash rate unchanged at the last meeting while stating that demand growth continues to ease and it’s expected to decline further with monetary conditions remaining restrictive. The New Zealand recent inflation data missed expectations supporting the RBNZ’s stance.The latest labour market report showed a notable increase in the unemployment rate and a slowdown in wage growth which is something that is likely to keep the RBNZ on the sidelines. The Manufacturing PMI fell further into contraction followed by the Services PMI which fell back into contraction. The market doesn’t expect the RBNZ to hike anymore.NZDUSD Technical Analysis – Daily TimeframeOn the daily chart, we can see that NZDUSD reached the key resistance zone around the 0.61 handle where we can also find the 50% Fibonacci retracement level for confluence. This is where we can expect the sellers to step in with a defined risk above the resistance to position for a drop back into the lows. The buyers, on the other hand, will want to see the price breaking decisively higher to continue targeting new highs. NZDUSD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price has been diverging with the MACD for quite some time right into the key resistance zone. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it might be another confirmation for the sellers that we might see at least a deeper pullback, which is supported further by the rising wedge formation. The first target for the sellers should be the base of the wedge around the 0.5950 level with a further break likely leading to a drop into the 0.5860 level. NZDUSD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see more closely the price action around the resistance zone and the rising wedge pattern. The buyers should lean on the bottom trendline to position for a rally into new highs. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 0.5950 level. Upcoming EventsToday, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. Tomorrow, we have the RBNZ rate decision where the central bank is expected to keep rates unchanged. On Thursday, we will see the US PCE and US Jobless Claims data with the market likely focusing more on the latter given that we already saw the latest inflation data with the US CPI report just two weeks ago. Finally, on Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

TRY/USD Forecast: The TRY Records its New Lowest Levels Ever - 28 November 2023

Nov 28, 2023 | 03:53 am

The Turkish currency fell to record new lows against the US dollar during early trading on Wednesday morning.

How to trade the EUR/USD currency pair on November 28th? Simple tips and analysis of deals for beginners

Nov 28, 2023 | 03:52 am

Monday's Trade Analysis:1H Chart of the EUR/USD Pair.The EUR/USD currency pair continued to trade sideways on Monday, remaining near its local highs. As mentioned several times recently, the current rise of the European currency is illogical and unjustified. The current rise of the euro is a correction against a stronger downward movement. However, this correction has yet to be concluded. The ascending trendline remains relevant, so novice traders should wait to sell the pair. One should wait for signals to sell or signals indicating a trend reversal before considering opening short positions.As for Monday's trading, there is little to analyze. The pair showed volatility of only 34 points. As mentioned earlier, 45-50 points are very low, and 34 points practically represent a lack of movement. If there is no movement, trading the pair becomes challenging, especially intraday. Thus, we have an almost stagnant situation – the ascending trend persists, but there is no movement. The situation did not change on Tuesday.5M Chart of the EUR/USD Pair.On the 5-minute timeframe, only one trading signal was formed yesterday. During the middle of the American session, the price reached 1.0936, and several hours were spent deciding how to react. In the end, it rebounded from it, albeit very imprecisely, but this rebound could only be recognized in the evening. Entering the market in the evening during intraday trading is not recommended. In any case, there were no interesting movements, events, or macroeconomic publications on Monday.How to Trade on Tuesday:On the hourly timeframe, the pair maintains a corrective trend. Correction remains correction, so we expect its completion and the downward trend resumption. There is an ascending trendline, so the price closing below it can determine the completion of the corrective trend. On the 5-minute timeframe, the levels to consider on Tuesday are 1.0568, 1.0611-1.0618, 1.0668, 1.0733, 1.0767-1.0781, 1.0835, 1.0896-1.0904, 1.0936, 1.0971-1.0981, 1.1011, 1.1043, 1.1091. A breakeven stop loss can be set when passing 15 points in the right direction. Tuesday will have many secondary events and practically no important ones. The only important one could be considered Christine Lagarde's speech, but she spoke yesterday as well, and as we can see, she did not report anything significant. This is evident even from the intraday pair movements, which were absent. Therefore, movements may intensify during the American session, but hardly due to fundamental or macroeconomic background.Main Rules of the Trading System:The strength of the signal is determined by the time it takes to form the signal (rebound or level breakthrough). The shorter the time, the stronger the signal.If two or more trades were opened around a certain level due to false signals, all subsequent signals from that level should be ignored.In a flat, any pair can form many false signals or not form them at all. But in any case, it is better to stop trading at the first signs of a flat.Trades are opened between the start of the European session and the middle of the American session when all trades must be closed manually.In the 30-minute timeframe, trading based on MACD indicator signals is only possible with good volatility and a confirmed trend supported by a trendline or channel.If two levels are located too close to each other (within 5 to 15 points), they should be considered as a support or resistance area.Charts Overview:Support and resistance levels are targets when opening buy or sell positions. Take-profit levels can be placed near them.Red lines are channels or trendlines that reflect the current trend and indicate the preferred direction for trading.MACD Indicator (14, 22, 3) - histogram and signal line - is an auxiliary indicator that can also be used as a source of signals.Important speeches and reports (always found in the news calendar) can significantly affect the currency pair's movement. Therefore, during their release, trading should be done with maximum caution or exiting the market to avoid a sharp price reversal against the previous movement.Beginner forex traders should remember that only some trades can be profitable. Developing a clear strategy and money management are the keys to success in trading over the long term.The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD: trading plan for the US session on November 28th (analysis of morning deals). The pound prepares for another breakout

Nov 28, 2023 | 03:44 am

In my morning forecast, I drew attention to the level of 1.2601 and recommended making trading decisions based on it. Let's look at the 5-minute chart and analyze what happened there. A decline towards 1.2601 occurred similarly to yesterday. However, due to low volatility and the absence of fundamental statistics, we couldn't achieve a test and the formation of a false breakout there. For this reason, the technical picture remained unchanged for the second half of the day.To open long positions on GBP/USD, the following is required:Buyers continue to focus on resistance at 1.2640 and will likely act more actively in this range in the second half of the day. A breakthrough of this level can also be expected in the case of weak US consumer confidence indicator data and dovish statements from FOMC members Austan D. Goolsbee and Michelle Bowman. Their soft stance, which they held last week, will likely further weaken the dollar's positions. If we see a bearish reaction to the statistics, I expect the first appearance of buyers around the same support at 1.2601, which we did not reach in the first half of the day. Forming a false breakout will provide an entry point for long positions to develop the uptrend further and update the resistance at 1.2640, where the pair is currently heading. A breakout and consolidation above this range will lead to a new signal to open long positions with an exit at 1.2675. The ultimate target will be the area at 1.2709, where I will take profit. In the scenario of a decline in the pair and the absence of activity from buyers at 1.2601 in the second half of the day, pressure on the pair will undoubtedly increase, leading to a more significant downward correction, which has been looming for quite some time. In this case, only a false breakout around the next support at 1.2563 will signal the opening of long positions. I plan to buy GBP/USD immediately on the rebound only from 1.2526, with the target of a correction of 30-35 points within the day.To open short positions on GBP/USD, the following is required:It can be said that sellers have started to act in the market only after bears defend the level of 1.2640. Good US statistics and an increase in consumer confidence contrary to economists' forecasts will allow the formation of a false breakout at 1.2640, signaling a sale and a chance for a larger downward movement towards the support at 1.2601. A breakthrough and a reverse test from the bottom to the top of this range will deal a more serious blow to buyer positions, removing stop orders and opening the way to 1.2563. A more distant target will be the area at 1.2526, where I will take profit, but we will only reach this level if the representatives of the Fed take a tough position. With the GBP/USD rising and the absence of activity at 1.2640 in the second half of the day, bears will once again lose control of the market, continuing the upward trend. In this case, I will postpone sales until a false breakout at 1.2675. If there is no downward movement, I will sell GBP/USD immediately on the rebound from 1.2709, but I am only counting on a pair correction down by 30-35 points within the day.In the COT report (Commitment of Traders) for November 21, there was a reduction in both long and short positions. Demand for the pound persisted throughout last week, as statements from Bank of England representatives that the regulator, if not continuing to raise interest rates, would at least keep them at current highs for a fairly long period led to an increase in the pair. The minutes of the November meeting of the Federal Reserve, which had a hawkish tone, had no impact on market sentiment. This week, we will have many speeches by Fed representatives, which may help the dollar compensate for recent losses. Still, American politicians need the same promises as those from Bank of England representatives. The latest COT report states that non-commercial long positions decreased by 9,497 to the level of 43,300, while non-commercial short positions fell by 11,129 to 69,398. As a result, the spread between long and short positions increased by 2,107. The weekly closing price increased and amounted to 1.2543 against 1.2503.Indicator Signals:Moving AveragesTrading is slightly above the 30 and 50-day moving averages, indicating further pair growth.Note: The author considers the period and prices of moving averages on the hourly chart (H1) and differs from the general definition of classic daily moving averages on the daily chart (D1).Bollinger BandsIn case of a decline, the lower boundary of the indicator, around 1.2601, will act as support.Indicator Descriptions:Moving Average (smoothens current trends by averaging volatility and noise). Period 50. Marked on the chart in yellow.Moving Average (smoothens current trends by averaging volatility and noise). Period 30. Marked on the chart in green.MACD Indicator (Moving Average Convergence/Divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9.Bollinger Bands. Period 20.Non-commercial traders - speculators, such as individual traders, hedge funds, and large institutions, use the futures market for speculative purposes and meet certain requirements.Non-commercial long positions represent the total long open position of non-commercial traders.Non-commercial short positions represent the total short open positions of non-commercial traders.The total non-commercial net position is the difference between non-commercial short and long positions.The material has been provided by InstaForex Company - www.instaforex.com

S&P 500 Signal: Looking for Next Catalyst - 28 November 2023

Nov 28, 2023 | 03:28 am

During Monday's trading session, the S&P 500 exhibited a relatively subdued performance, reflecting a period of consolidation after its recent significant gains.

Silver Forecast: Looks for Higher Levels - 28 November 2023

Nov 28, 2023 | 02:58 am

Silver has experienced a notable rally during Monday's trading session, continuing the significant upward movement initiated on Friday.

Nasdaq Composite Technical Analysis

Nov 28, 2023 | 02:46 am

The Nasdaq Composite is losing some momentum as we approach the cycle high and many key economic releases in the next few weeks that will culminate in the FOMC rate decision on the 13th of December. The market at the moment is focused mainly on the rate cuts expectations, which continue to support the upside as long as the data doesn’t deteriorate faster. Nasdaq Composite Technical Analysis – Daily TimeframeOn the daily chart, we can see that the Nasdaq Composite has lost some momentum as the index started to consolidate. We can expect some profit taking around these levels after such an incredible rally in November which might also provide a decent pullback for the buyers. Nasdaq Composite Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that the price has been diverging with the MACD recently which is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it might be a signal that we could indeed see at least a deeper pullback soon. From a risk to reward perspective, the buyers would have a much better setup around the 13700 support where we can also find the confluence with the 38.2% Fibonacci retracement level of the entire rally. Nasdaq Composite Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the price has been diverging with the MACD since the breakout of the key trendline around the 13700 level. The price yesterday broke below the lower bound of the rising channel which might be the confirmation for the start of the pullback. The sellers are likely to pile in to target the base of the channel around the 14040 level and upon a further break lower, aim for the support zone at the 13700 level. Upcoming EventsToday, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. On Thursday, we will see the US PCE and US Jobless Claims data with the market likely focusing more on the latter given that we already saw the latest inflation data with the US CPI report just two weeks ago. Finally, on Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

Natural Gas Forecast: Looks for Buyers Below - 28 November 2023

Nov 28, 2023 | 02:39 am

The natural gas markets commenced the trading week with a gap to the downside, presenting a scenario that puts significant support levels into focus.

EUR/USD Forecast: Looks Stretched - 28 November 2023

Nov 28, 2023 | 02:31 am

The euro's trading session on Monday began with a notable drift to the upside, only to experience a reversal and subsequent decline.

AUD/USD: Bullish breakout ahead of monthly AU CPI data

Nov 28, 2023 | 02:17 am

AUD/USD has cleared above the key 200-day moving average now acting as a near-term support of 0.6595. Consensus estimates are expecting a softer AU monthly CPI for October (5.2% vs. 5.6% Sep) for tomorrow, 29 November. Recent hawkish rhetoric from newly appointed RBA governor Bullock has narrowed the discount yield spread between the 2-year AU […]

GBP/USD Forecast: is at an Important Area - 28 November 2023

Nov 28, 2023 | 02:15 am

During Monday's trading session, the British pound experienced a notable rally, only to relinquish its gains shortly, thereafter, indicating a sense of hesitation among traders.

NASDAQ 100 Forecast: Hovers - 28 November 2023

Nov 28, 2023 | 02:07 am

On Monday, the NASDAQ 100 initially dipped to test the 50-Day EMA.

Gold Forecast: Continues to See Buying Overall - 28 November 2023

Nov 28, 2023 | 01:55 am

Gold markets experienced a significant rally during Monday's trading session, indicating a potential challenge to recent high points.

USDCAD Technical Analysis - This breakout might be a bad omen for the bulls

Nov 28, 2023 | 01:25 am

USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward. The labour market is starting to show weakness as Continuing Claims are now rising at a fast pace and the recent NFP report missed across the board. Last week though, the US Jobless Claims beat forecasts by a big margin, although volatility in the data is normal.The latest US PMIs came basically in line with expectations with a miss in the Manufacturing index and a beat in the Services measure. The recent Fedspeak has been leaning on the hawkish side, but the recent data suggest that the Fed is likely done for the cycle. The market doesn’t expect the Fed to hike anymore.CADThe BoC left interest rates at 5.00% as expected at the last meeting but remains prepared to raise rates further if needed.BoC Governor Macklem delivered a less hawkish speech in the press conference compared to his previous remarks. The recent Canadian CPI missed expectations across the board and the underlying inflation measures eased, which was a welcome development for the BoC. On the labour market side, the latest report missed expectations across the board with negative figures in full-time employment and slowing wage growth, which is going to be another positive outcome for the central bank.The market doesn’t expect the BoC to hike anymore.USDCAD Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDCAD broke below the key trendline and extended the drop into the 1.36 handle. From a risk management perspective, the buyers would be better off waiting for a pullback as the price looks a bit overstretched as depicted by the distance from the blue 8 moving average. In such instances, we can generally see a pullback into the moving average or some consolidation before the next move. USDCAD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see more closely the break below the trendline last Friday and the retest yesterday before another drop. The support zone around the 1.3650 level will now be a key resistance as a break to the upside might lead to a reversal back into the downward trendline around the 1.3750 level. USDCAD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that the price is bouncing around the recent low at 1.3594. The sellers are likely to lean on the downward trendline with a defined risk above it to target the 1.34 handle. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and position for a rally into the 1.3750 level. Upcoming EventsToday, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. On Thursday, we will see the US PCE and US Jobless Claims data with the market likely focusing more on the latter given that we already saw the latest inflation data with the US CPI report just two weeks ago. Finally, on Friday, we conclude the week with the Canadian Labour Market report and the Manufacturing PMI, followed later by the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

Euro shrugs after Lagarde comments

Nov 28, 2023 | 00:32 am

ECB’s Lagarde says inflation fight not over US PMIs paint a mixed picture The euro is almost unchanged on Tuesday. In the North American session, EUR/USD is trading at 1.0948, down 0.05%. Lagarde says inflation fight not over The week started with no eurozone releases, giving investors plenty of time to focus on remarks from […]

EURUSD Technical Analysis

Nov 28, 2023 | 00:13 am

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward. The labour market is starting to show weakness as Continuing Claims are now rising at a fast pace and the recent NFP report missed across the board. Last week though, the US Jobless Claims beat forecasts by a big margin, although volatility in the data is normal.The latest US PMIs came basically in line with expectations with a miss in the Manufacturing index and a beat in the Services measure. The recent Fedspeak has been leaning on the hawkish side, but the recent data suggest that the Fed is likely done for the cycle. The market doesn’t expect the Fed to hike anymore. EUR The ECB left interest rates unchanged as expected at the last meeting as the central bank has ended its tightening cycle.President Lagarde highlighted the weakness in the Eurozone economy and reaffirmed that rates will make a substantial contribution to curbing inflation.The recent Eurozone CPI missed expectations on the headline figures but the Core measure remained unchanged. This is unlikely to change the ECB’s stance anyway.The labour market remains historically tight but the unemployment rate recently ticked higher.The recent Eurozone PMIs slightly beat expectations on both the Manufacturing and Services measures although the indexes remain in contraction.The ECB members continue to repeat that they will keep rates high for as long as necessary to bring inflation back to their 2% target. The market doesn’t expect the ECB to hike anymore. EURUSD Technical Analysis – Daily TimeframeEURUSD DailyOn the daily chart, we can see that EURUSD reached the key resistance around the 1.0950 level where we can also find the 61.8% Fibonacci retracement level for confluence. This is where we can expect the sellers to step in with a defined risk above the resistance to position for a drop into new lows. The buyers, on the other hand, will want to see the price breaking higher to continue targeting new highs. EURUSD Technical Analysis – 4 hour TimeframeEURUSD 4 hourOn the 4 hour chart, we can see that we have a divergence with the MACD right at the key resistance. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it might be another confirmation for the sellers that we could see at least a pullback. The buyers should lean on the lower bound of the channel to position for a break above the resistance, while the sellers will look for a break lower to increase the bearish bets into new lows. EURUSD Technical Analysis – 1 hour TimeframeEURUSD 1 hourOn the 1 hour chart, we can see that we have another trendline where more aggressive buyers might be leaning onto to position for another extension to the upside, although the risk to reward would be worse. The sellers, on the other hand, will want to see the price breaking below the trendline to get an extra confirmation for a move lower. Upcoming Events Today, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. On Thursday, we will have many key economic releases with the Eurozone CPI and Unemployment Rate in the morning and the US PCE and US Jobless Claims in the afternoon. Finally, on Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. See the video below This article was written by FL Contributors at www.forexlive.com.

Monetary supply M3. EU, 11:00 (GMT+2)

Nov 28, 2023 | 00:00 am

At 11:00 (GMT+2), October data on the M3 money supply aggregate in the EU will be published. The indicator measures the value of all foreign currency and liquid monetary assets in the hands of the population and is an important indicator of inflation in the country, the growth of which may lead to higher interest rates by financial regulators. The negative dynamics are expected to slow from −1.2% to −0.9% YoY. Read more

USD/JPY Forecast: Dips to Open Week Against Yen - 28 November 2023

Nov 27, 2023 | 23:41 pm

On Monday, the US dollar exhibited an initial surge against the Japanese yen, only to subsequently display a degree of indecision.

BTC/USD Forex Signal: Bullish Consolidation Continues Near High - 28 November 2023

Nov 27, 2023 | 23:30 pm

Bullish above the support level at $37,271.

Crude Oil Forecast: Looks Noisy, Again - 28 November 2023

Nov 27, 2023 | 23:20 pm

The crude oil markets experienced a tumultuous start to the week, with initial declines being countered by a resurgence in buying interest.

AUD/USD Forecast: Looking to Breakthrough - 28 November 2023

Nov 27, 2023 | 23:06 pm

The AUD/USD experienced a significant surge at the beginning of the trading week, momentarily surpassing the 0.66 level.

GBPUSD Technical Analysis - Watch what happens at this key resistance

Nov 27, 2023 | 22:58 pm

USD The Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement.Fed Chair Powell stressed once again that they are proceeding carefully as the full effects of policy tightening have yet to be felt.The recent US CPI missed expectations across the board bringing the expectations for rate cuts forward. The labour market is starting to show weakness as Continuing Claims are now rising at a fast pace and the recent NFP report missed across the board. Last week though, the US Jobless Claims beat forecasts by a big margin, although volatility in the data is normal.The latest US PMIs came basically in line with expectations with a miss in the Manufacturing index and a beat in the Services measure. The recent Fedspeak has been leaning on the hawkish side, but the recent data suggest that the Fed is likely done for the cycle. The market doesn’t expect the Fed to hike anymore. GBP The BoE kept interest rates unchanged as expected at the last meeting.The central bank is leaning towards keeping interest rates “higher for longer”, although it keeps a door open for further tightening if inflationary pressures were to be more persistent. The BoE members continue to repeat that they will keep rates high for long enough to get inflation back to target. The latest employment report beat expectations with wage growth remaining at elevated levels. The UK CPI missed expectations across the board, which was a welcome development for the BoE.The UK PMIs last week beat expectations on both the Manufacturing and Services measures, with the Services sector crawling back in expansion.The latest UK Retail Sales missed expectations across the board by a big margin as consumer spending remains weak.The market doesn’t expect the BoE to hike anymore. GBPUSD Technical Analysis – Daily TimeframeGBPUSD DailyOn the daily chart, we can see that GBPUSD breached the key resistance around the 1.26 handle where we had also the 50% Fibonacci retracement level for confluence. The price looks a bit overstretched though as depicted by the distance from the blue 8 moving average. In such instances, we can generally see a pullback into the moving average or some consolidation before the next move. GBPUSD Technical Analysis – 4 hour TimeframeGBPUSD 4 hourOn the 4 hour chart, we can see that the pair has been diverging with the MACD for quite some time now. This is generally a sign of weakening momentum often followed by pullbacks or reversals. Given that we are around the key resistance that should be a call for caution. From a risk management perspective, the buyers would have a much better risk to reward setup around the trendline where we can also find the 61.8% Fibonacci retracement level for confluence. GBPUSD Technical Analysis – 1 hour TimeframeGBPUSD 1 hourOn the 1 hour chart, we can see that we have another divergence with the MACD right above the key resistance. We might end up with a classic “break and retest” pattern with the buyers leaning on the resistance turned support with a defined risk below the trendline. The sellers, on the other hand, will want to see the price breaking below the trendline to invalidate the bullish setup and position for a drop into the major trendline around the 1.24 handle. Upcoming Events Today, we will get the latest US Consumer Confidence report and it will be interesting to see how the US consumers see the labour market. On Thursday, we will see the US PCE and US Jobless Claims data with the market likely focusing more on the latter given that we already saw the latest inflation data with the US CPI report just two weeks ago. Finally, on Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

GBP/USD Forex Signal: Rising ADX Indicator Points to More Gains Ahead - 28 November 2023

Nov 27, 2023 | 22:25 pm

The GBP/USD exchange rate continued its recovery this week as the UK hosted its Global Investment Summit.

GBP/JPY Daily Outlook

Nov 27, 2023 | 22:09 pm

Daily Pivots: (S1) 187.39; (P) 187.96; (R1) 188.32; More… Intraday bias in GBP/JPY is turned neutral again with current retreat. Some more consolidations could be seen below 188.63 temporary top first. But near term outlook will stay bullish as long as 184.44 support holds. Break of 188.63 will resume larger up trend. In the bigger […] The post GBP/JPY Daily Outlook appeared first on Action Forex.

EUR/JPY Daily Outlook

Nov 27, 2023 | 22:06 pm

Daily Pivots: (S1) 162.37; (P) 163.04; (R1) 163.55; More…. EUR/JPY’s break of 162.42 minor support suggest that rebound from 161.22 has completed. Intraday bias is back on the downside to extend the corrective pattern from 164.29, with a third leg. Deeper fall should be seen through 161.22 to 100% projection of 164.29 tot 161.22 from […] The post EUR/JPY Daily Outlook appeared first on Action Forex.

EUR/USD Forex Signal: Extremely Bullish Above 1.0965 - 28 November 2023

Nov 27, 2023 | 22:04 pm

The EUR/USD exchange rate held steady near its highest level this month after a hawkish statement by Christine Lagarde, the head of the European Central Bank (ECB).

EUR/GBP Mid-Day Outlook

Nov 27, 2023 | 22:02 pm

Daily Pivots: (S1) 0.8659; (P) 0.8674; (R1) 0.8689; More…. Intraday bias in EUR/GBP remains on the downside for 0.8648 support. Decisive break there will argue that whole rise from 0.8491 has completed and turn near term outlook bearish. Nevertheless, break of 0.8706 minor resistance will retain near term bullishness and bring retest of 0.8764 instead. […] The post EUR/GBP Mid-Day Outlook appeared first on Action Forex.

GfK consumer climate. Germany, 09:00 (GMT+2)

Nov 27, 2023 | 22:00 pm

At 09:00 (GMT+2), December data on the consumer climate index from GfK Group will be published in Germany. The indicator assesses the degree of confidence in the economy strength and is a leading indicator of household spending. The negative dynamics are expected to slow from −28.1 points to −27.0 points. Read more

EUR/AUD Daily Outlook

Nov 27, 2023 | 21:59 pm

Daily Pivots: (S1) 1.6539; (P) 1.6602; (R1) 1.6643; More… No change in EUR/AUD’s outlook and intraday bias remains on the downside for 1.6449 support. Firm break there will argue that the pattern from 1.6319 has completed at 1.6844 as a corrective move, and fall from 1.7062 is ready to resume through 1.6319. On the upside, […] The post EUR/AUD Daily Outlook appeared first on Action Forex.

EUR/CHF Daily Outlook

Nov 27, 2023 | 21:56 pm

Daily Pivots: (S1) 0.9624; (P) 0.9642; (R1) 0.9660; More… Sideway trading continues in EUR/CHF and intraday bias stays neutral. Further rally is still expected and decisive break of 0.9691 resistance will carry larger bullish implication, and target 0.9840 resistance next. However, break of 0.9595 support will indicate short term topping, and turn bias back to […] The post EUR/CHF Daily Outlook appeared first on Action Forex.

AUD/USD Forex Signal: RBA and Fed Divergence Bullish for Aussie - 28 November 2023

Nov 27, 2023 | 21:47 pm

The Aussie continued its strong recovery, helped by the diverging monetary policy statement between the Federal Reserve and Reserve Bank of Australia (RBA).

USD/CAD Daily Outlook

Nov 27, 2023 | 21:36 pm

Daily Pivots: (S1) 1.3599; (P) 1.3631; (R1) 1.3647; More… At this point, strong support is still expected from 38.2% retracement of 1.3091 to 1.3897 at 1.3589 to contain downside and bring rebound. Break of 1.3711 minor resistance will turn bias back to the upside for retesting 1.3897. However, sustained break of 1.3589 will indicate that […] The post USD/CAD Daily Outlook appeared first on Action Forex.

AUD/USD Daily Report

Nov 27, 2023 | 21:34 pm

Daily Pivots: (S1) 0.6559; (P) 0.6576; (R1) 0.6601; More… Intraday bias in AUD/USD remains on the upside for the moment. Current rally from 0.6269 should extend to channel resistance (now at 0.6665). Sustained break there will pave the way to 0.6894 resistance next. On the downside, below 0.6585 minor support will turn intraday bias neutral […] The post AUD/USD Daily Report appeared first on Action Forex.

EUR/USD Daily Outlook

Nov 27, 2023 | 21:28 pm

Daily Pivots: (S1) 1.0933; (P) 1.0946; (R1) 1.0967; More… EUR/USD is still bounded in range below 1.0964. Intraday bias stays neutral for the moment. Further rally is in favor as long as 1.0823 support holds. Sustained break of 61.8% retracement of 1.1274 to 1.0447 at 1.0958 will resume the rise from 1.0447 to retest 1.1274 […] The post EUR/USD Daily Outlook appeared first on Action Forex.

GBP/USD Daily Outlook

Nov 27, 2023 | 21:25 pm

Daily Pivots: (S1) 1.2597; (P) 1.2621; (R1) 1.2650; More… Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.2036 should target 61.8% retracement of 1.3141 to 1.2036 at 1.2716. On the downside, below 1.2572 minor support will turn intraday bias neutral first. But further rally will now remain in favor as […] The post GBP/USD Daily Outlook appeared first on Action Forex.

USD/CHF Daily Outlook

Nov 27, 2023 | 21:22 pm

Daily Pivots: (S1) 0.8790; (P) 0.8809; (R1) 0.8824; More…. Intraday bias in USD/CHF remains on the downside at this point. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. Nevertheless, break of 0.8873 resistance will turn bias to the upside for stronger rebound. In the bigger picture, […] The post USD/CHF Daily Outlook appeared first on Action Forex.

USD/JPY Daily Outlook

Nov 27, 2023 | 21:02 pm

Daily Pivots: (S1) 148.26; (P) 148.97; (R1) 149.40; More… USD/JPY’s break of 148.57 minor support indicates rejection by 55 4H EMA. Intraday bias is back on the downside to extend the decline from 151.9. Next target is 147.14 support. Further break of 61.8% projection of 151.89 to 147.14 from 149.66 at 146.72will pave the way […] The post USD/JPY Daily Outlook appeared first on Action Forex.

Podcast – Inflation watch in US, Eurozone and AU. Volatile oil prices ahead of OPEC+

Nov 27, 2023 | 18:25 pm

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week’s key economic data releases that centered on inflation with the Fed-preferred PCE gauge for October out on this Thursday, 30 November together with Eurozone flash CPI for November. On Wednesday, 29 November, Australia will release its monthly CPI indicator for October, where […]

Retail sales. Australia, 02:30 (GMT+2)

Nov 27, 2023 | 15:30 pm

At 02:30 (GMT+2), Australia will release October retail sales data, a key indicator of consumer spending that has a significant impact on the country’s gross domestic product (GDP). The indicator records the monthly volume of all goods retailers sold, based on samples of stores of different types and sizes. A correction in the value is expected from 0.9% to 0.2% MoM, putting pressure on the Australian dollar. Read more

The USDJPY makes new session lows and in the process moves below a swing level. What next?

Nov 27, 2023 | 12:10 pm

This article was written by Greg Michalowski at www.forexlive.com.

EURUSD high today stalls at retracement level again

Nov 27, 2023 | 10:59 am

The EURUSD high for the day stalled at the 61.8% retracement of the 2023 trading range. The level came in at 1.0959. Last week the price did extend above that level but only by about 4 or 5 pips before rotating back to the downside. So for the 2nd time in less than one week, the 61.8% retracement has done a pretty good job of stalling the rally.On the downside, the low today came in at 1.0925. That was near the high of a swing area. Below that and traders would start to look toward the 100 hour moving average 1.09149 and the 200-hour moving average at 1.09023. The price on November 13 fell below the 200-hour moving average but only for a few hours before bouncing back to the upside. On November 10, the price also dipped below the 200 hour moving average only to move back above it within the hourly bar. You would have to go back to November 1 for an extended time period where the price traded below the 200-hour MA. So moving below the 200 hour moving is currently at 1.09023 and staying that moving average is needed to increase the bearish bias. For a full technical look at the EURUSD, click on the video link above. This article was written by Greg Michalowski at www.forexlive.com.

NZDUSD buyers had their shot today. They missed. What next for the pair?

Nov 27, 2023 | 09:39 am

Earlier today, the NZDUSD buyers took the price above its 200-day moving average and 50% midpoint of the move down from the July high to the October low. Both of those technical tools came in at the same 0.6092 level. The high price extended up toward the low of a swing area near 0.6104, but could not go any further. The subsequent move back to the downside took the price back below the midpoint in the 200-day moving average. Buyers had their shot, they failed.What now?I would expect that the sellers would now lean against the dual technical levels near the 0.6092 level with stops on a break above. After the buyers took their shot and missed, it's now the sellers turn to try to establish control. On the downside traders would look toward the 0.60467 – 0.60598 area as the next downside target to get to and through to increase the bearish bias.For a full view of the technicals driving this currency pair click on the video link above. This article was written by Greg Michalowski at www.forexlive.com.

Brent Crude – Oil price choppy ahead of Thursday’s OPEC+ meeting

Nov 27, 2023 | 09:21 am

OPEC+ decision made bigger by four-day delay Global economic outlook to impact the group’s cuts? Brent consolidating near recent lows The OPEC+ meeting will be this week’s most impactful event in oil markets. Not just because any decision could have direct consequences for price and therefore inflation but also due to the meeting already being […]

GBP/USD – A steady start as recovery rally starts to lose momentum

Nov 27, 2023 | 08:17 am

US GDP, inflation, and jobless claims to come this week BoE Governor Bailey insists no rate cuts for the “foreseeable future” GBPUSD losing momentum at key technical zone It’s been quite a calm start to the week which isn’t entirely surprising given the lack of events on the calendar today. All data now, particularly that […]

EURUSD trades to a new session low, but remains above hourly moving averages

Nov 27, 2023 | 07:30 am

EURUSD falls from the 61.8% retracementThe EURUSD has traded to a new session low of 1.09244. That took out the Asian session low of 1.0926. The low-to-high trading range is still narrow at 34 pips. That compares to 72 pips average over the last 22 trading days (about a month of trading). There is room to room.Looking at the 4-hour chart above, the high price today stalled right near the 61.8% retracement of the move down from the July 18 high at 1.09589. Last week, the price high for the week stalled at 1.0963. The break above the 61.8% retracement failed. Today's high found willing sellers against that retracement level. Sellers leaned.Drilling to the hourly chart below, although a new low was reached, the momentum is not exactly running. It would take a move below the 100-hour moving average 1.09153 followed by a move below the 200-hour moving average 1.0901, to increase the bearish bias (blue and green lines on the chart below). Going back to October 10 and October 13, the price peeked below the lower 200-hour MA but only by a few pips before bouncing higher. The last time the price traded below both MAs for an extended time period was back on November 1.Sellers are trying to make a play but they have work to do. The good news is there is room to roam with the range only 34 pips. The bad news is there just isn't a lot of momentum. This article was written by Greg Michalowski at www.forexlive.com.

Kickstart your FX trading for Nov 27 with a technical look at EURUSD, USDJPY and GBPUSD

Nov 27, 2023 | 06:24 am

In this video, I take a look at the EURUSD, USDJPY and GBPUSD and give my technical thoughts on each of those pairs. What is the bias, risk, targets for each of the pairs as the trading week gets started. This article was written by Greg Michalowski at www.forexlive.com.

Japanese yen rises ahead of BoJ inflation

Nov 27, 2023 | 06:06 am

BoJ Core CPI expected to remain unchanged at 3.4% US posts mixed PMI report The Japanese yen has started the week in positive territory. In the European session, USD/JPY is trading at 148.87, down 0.39%. Japanese yen eyes BoJ Core CPI Japan’s core inflation rate has been moving higher. Last week, the nationwide core CPI […]

EUR/USD Mid-Day Outlook

Nov 27, 2023 | 05:43 am

Daily Pivots: (S1) 1.0907; (P) 1.0928; (R1) 1.0961; More… EUR/USD is staying in range below 1.0964 and intraday bias remains neutral at this point. Further rally is in favor as long as 1.0823 support holds. Sustained break of 61.8% retracement of 1.1274 to 1.0447 at 1.0958 will resume the rise from 1.0447 to retest 1.1274 […] The post EUR/USD Mid-Day Outlook appeared first on Action Forex.

USD/CHF Mid-Day Outlook

Nov 27, 2023 | 05:41 am

Daily Pivots: (S1) 0.8809; (P) 0.8829; (R1) 0.8848; More…. No change in USD/CHF’s outlook. Intraday bias stays on the downside for the moment. Current fall from 0.9243 should target 100% projection of 0.9243 to 0.8886 from 0.9111 at 0.8754 next. Nevertheless, break of 0.8873 resistance will turn bias to the upside for stronger rebound. In […] The post USD/CHF Mid-Day Outlook appeared first on Action Forex.

USD/JPY Mid-Day Outlook

Nov 27, 2023 | 05:39 am

Daily Pivots: (S1) 149.19; (P) 149.45; (R1) 149.70; More… Intraday bias in USD/JPY remains neutral as this point. Risk stays on the downside as long as 55 4H EMA (now at 149.55) holds. Break of 148.57 minor support will turn bias to the downside the resume the fall from 151.89 through 147.14 support. However sustained […] The post USD/JPY Mid-Day Outlook appeared first on Action Forex.

GBP/USD Mid-Day Outlook

Nov 27, 2023 | 05:24 am

Daily Pivots: (S1) 1.2548; (P) 1.2581; (R1) 1.2638; More… GBP/USD hits as high as 1.2642 so far as rise from 1.2036 continues today. Intraday bias stays on the upside at this point. Next target is 61.8% retracement of 1.3141 to 1.2036 at 1.2716. On the downside, below 1.2572 minor support will turn intraday bias neutral […] The post GBP/USD Mid-Day Outlook appeared first on Action Forex.

The JPY is the strongest and the USD is the weakest as the NA session begins

Nov 27, 2023 | 05:02 am

The JPY is the strongest and the USD is the weakest as the North American session begins. The focus of the market is on Cyber Monday promotions, especially after retailers offered substantial discounts on Black Friday to attract budget-conscious customers. In the U.S. Cyber Monday, known for special online sales on the first Monday after Thanksgiving, is anticipated to be a major shopping day in the U.S. This expectation is based on Black Friday's performance, where U.S. retail sales, both online and in stores, saw a 2.5% increase from the previous year, as reported by the Wall Street Journal citing third-party analytics. Salesforce, a company that monitors retail data, informed Reuters that online spending on Black Friday reached $16.4 billion, driven by shoppers seeking out average discounts of 30%. This surge in online shopping is predicted to boost Cyber Monday sales by 5.4% compared to last year, potentially reaching a record $12 billion, according to a Salesforce peer, Adobe Digital Insights.Oil prices declined on Monday as investors anticipate the upcoming OPEC+ meeting, which was rescheduled to November 30 from November 26 due to reported disagreements over planned production cuts. There are reports that OPEC+, which includes the Organization of the Petroleum Exporting Countries and its allies, is nearing a compromise that may extend the unilateral output reductions by Saudi Arabia and Russia at least through the first quarter of the next year.US yields (and European yields) are lower to start the trading week. US stocks are also lower after closing higher for the 4th consecutive week on Friday. European shares are also trading lower as North American traders enter for the day.At 10 AM today, US October new-home sales will be release with expectations of 0.723 million on a annualized basis versus 0.759 million in September.A snapshot of the markets to kickstart the North American session shows:Crude oil is trading down $0.69 at $74.90. Friday at this time, the price was trading at $76.57Spot gold is trading up $10.90 or 0.55% at $2013.12. Friday at this time, the price was trading at $1995.44Spot silver is trading up $0.41 or 1.71% $24.72. Friday at this time, the price was trading at $23.66Bitcoin is trading higher at $37,019. Friday at this time, the price was trading at $37,696. The high price over the weekend reached $37,908. The low price today extended to $36,907In the US stock market, the major indices start the new trading week with the futures implying declines across the board:Dow Industrial Average is trading down -51 points. On Friday, the index rose 117.12 points or 0.33% at 35390.16S&P index is trading down -8.5 points points. On Friday, the index rose rose 2.7 points or 0.06% at 4559.33NASDAQ index is down -25 points. On Friday, the index fell -15.00 points or -0.11% at 14250.85In the European equity markets, the major indices are trading mixed/mostly higher.German DAX, -0.21%France's CAC, -0.09%UK's FTSE 100, -0.31%Spain's Ibex, +0.28%Italy's FTSE MIB, -0.19% (10 minute delay)In the US debt market, yields are trading lower:US 2Y T-NOTE: 4.936% -1.9 basis points. The level from this time on Friday was at 4.944%US 5Y T-NOTE: 4.484% -1.8 basis points. The level from this time on Friday was at 4.495%US 10Y T-NOTE: 4.464% -2.0 basis points. The level from this time on Friday was at 4.472%US 30Y BOND: 4.596% -2.1 basis points.. The level from this time on Friday was at 4.597%2 – 10-year spread closed at -47.5 basis points. The level from this time on Friday was at -47.0 basis points2 – 30 year spread closed at -34.5 basis points. The level from this time on Friday was at -34.5 basis pointsIn the European debt market, benchmark 10-year yields are trading mixed:European 10 year yields are lower This article was written by Greg Michalowski at www.forexlive.com.

New home sales. USA, 16:00 (GMT+2)

Nov 27, 2023 | 05:00 am

At 16:00 (GMT+2), October data on home sales on the primary market will be published in the United States. The indicator records the number of new residential buildings that were sold during the past month and is one of the most important indicators of the American construction market. It is expected that the figure will increase from 759.0K to 680.0K, supporting the American dollar. Read more

Nasdaq Composite Technical Analysis

Nov 27, 2023 | 04:09 am

Last week, the Nasdaq Composite didn't move much given the lack of economic events and the Thanksgiving holidays in the final part of the week. The only two important reports were the US Jobless Claims and the US PMIs. The former beat expectations across the board, while the latter came basically in line with forecasts. This week we can expect more action with the holidays in the rear-view mirror and some key economic releases on the agenda. Nasdaq Composite Technical Analysis – Daily TimeframeNasdaq Composite DailyOn the daily chart, we can see that the Nasdaq Composite is getting closer to the cycle high at 14446. We can expect the sellers to step in around these levels targeting at least a deeper pullback after such an incredible rally for the entire month. The buyers, on the other hand, should keep piling in to target new highs until we get a bearish catalyst. Nasdaq Composite Technical Analysis – 4 hour TimeframeNasdaq Composite 4 hourOn the 4 hour chart, we can see that the price is diverging with the MACD which is generally a sing of weakening momentum often followed by pullbacks or reversals. In this case, it might be a signal that we could indeed see at least a pullback very soon. From a risk to reward perspective, the buyers would have a much better setup around the 13700 support where we can also find the 38.2% Fibonacci retracement level of the entire rally. Nasdaq Composite Technical Analysis – 1 hour TimeframeNasdaq Composite 1 hourOn the 1 hour chart, we can see more clearly the divergence with the MACD which has been going on since the breakout of the key trendline around the 13700 level. The buyers should keep leaning on the lower bound of the rising channel where they have also the red 21 moving average for confluence. The sellers, on the other hand, will want to see the price breaking lower to target a drop into the 14000 level and upon a further break, the support around the 13700 level. Upcoming Events Tomorrow, we have the US Consumer Confidence report. On Thursday, we will see the latest US Jobless Claims figures and the US PCE report. On Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

Building permits. USA, 15:00 (GMT+2)

Nov 27, 2023 | 04:00 am

At 15:00 (GMT+2), the US will publish data on the number of building permits issued. The indicator records monthly changes in the number of applications registered by the American government for the construction of real estate, and is one of the most important indicators of the sector. The value is expected to adjust from 1.471M to 1.487M, supporting the American dollar. Read more

Australian dollar extends gains, retail sales next

Nov 27, 2023 | 03:55 am

Australian dollar extends gains Australian retail sales expected to decelerate to 0.1% The Australian dollar has extended its gains at the start of the week. In the European session, AUD/USD is trading at 0.6603, up 0.28%. The Aussie has posted an impressive streak, rising 3.8% against the greenback since November 14th. Australia releases retail sales […]

USD/MXN: Brief Volatile Climb Followed by Selling and Lows

Nov 27, 2023 | 03:32 am

The USD/MXN continues to demonstrate its rather bearish trend remains speculatively intriguing.

USD/ZAR: Burst Higher as Problems Cascade in South Africa

Nov 27, 2023 | 03:15 am

The USD/ZAR experienced a burst higher in the middle of last week which saw values sustained near resistance levels, this after challenging prices not seen since late October.

S&P 500 Forecast: Futures Move Slightly on Holiday

Nov 27, 2023 | 03:03 am

The trading session on Thursday witnessed a lack of substantial movement in the S&P 500, a phenomenon that aligns with the observance of Thanksgiving in the United States.

Dow Jones Technical Analysis

Nov 27, 2023 | 02:51 am

Last week, the Dow Jones didn't move much given the lack of economic events and the Thanksgiving holidays in the final part of the week. The only two important reports were the US Jobless Claims and the US PMIs. The former beat expectations across the board, while the latter came basically in line with forecasts. This week we can expect more action with the holidays in the rear-view mirror and some key economic releases on the agenda. Dow Jones Technical Analysis – Daily TimeframeDow Jones DailyOn the daily chart, we can see that the Dow Jones is getting closer to the cycle high at 35680 as this November rally just doesn’t want to let up. The sellers are likely to start looking for a deeper pullback around these levels, but it’s hard to fight such a strong bullish train without a catalyst. We can notice that the price is a bit overstretched as depicted by the distance from the blue 8 moving average. In such instances, we can generally see a pullback into the moving average or some consolidation before the next move. Dow Jones Technical Analysis – 4 hour TimeframeDow Jones 4 hourOn the 4 hour chart, we can see that the price has been diverging with the MACD for quite some time now. This is generally a sign of weakening momentum often followed pullbacks or reversals. In this case, it might be a signal that we could indeed see at least a pullback very soon. Dow Jones Technical Analysis – 1 hour TimeframeDow Jones 1 hourOn the 1 hour chart, we can see even better the divergence with the MACD which has been going on since the break above the key resistance around the 34000 level. The buyers are likely to continue to lean on the minor trendline and the red 21 moving average to target the cycle high. The sellers, on the other hand, will want to see the price breaking lower to pile in and target first the low around the 34800 level and upon a further break, the support at 34000. Upcoming Events Tomorrow, we have the US Consumer Confidence report. On Thursday, we will see the latest US Jobless Claims figures and the US PCE report. On Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

Gold Price Analysis XAU/USD Today: Gold Prepares for Stronger Peaks

Nov 27, 2023 | 02:49 am

In the following technical analysis we will present the XAU/USD forecast for today, Gold Prepares for Stronger Peaks.

Analysis of the US Dollar against the Japanese Yen USD/JPY :The Chance of Returning to Its Record Levels

Nov 27, 2023 | 02:45 am

In the following technical analysis we will present the USD/JPY forecast for today, The Chance of Returning to Its Record Levels.

Analysis of the British Pound against the US Dollar GBP/USD: The Possibility of Selling Deals

Nov 27, 2023 | 02:40 am

In the following technical analysis we will present the GBP/USD forecast for today, The Possibility of Selling Deals.

Silver Forecast: Sees Buyers on Dips

Nov 27, 2023 | 02:39 am

Silver remained relatively subdued during the trading session on Thursday, with traders contending with diminished liquidity due to the Thanksgiving holiday.

Analysis of the Euro versus the US Dollar EUR/USD: Bulls Dominate, Awaiting Stimulus

Nov 27, 2023 | 02:34 am

In the following technical analysis we will present the EUR/USD forecast for today, Bulls Dominate, Awaiting Stimulus

Natural Gas Forecast: Looks for a Bottom

Nov 27, 2023 | 02:28 am

The natural gas markets exhibited a notably subdued performance during the trading session on Thursday, reflecting the ongoing quest for a solid support base.

EUR/USD Forecast: Does the Same Thing on Thanksgiving

Nov 27, 2023 | 02:16 am

The EUR/USD displayed a notable rally during the trading session on Thursday, only to swiftly relinquish its gains as it encountered persistent turbulence residing above the 1.09 level.

Gold Forecast: Sees Same Barrier

Nov 27, 2023 | 02:02 am

Gold displayed a modest rally during the early hours of Thursday, albeit within the context of a thinly traded session, with the official market paused in observance of Thanksgiving in the United States.

GBP/JPY Daily Outlook

Nov 27, 2023 | 01:29 am

Daily Pivots: (S1) 187.43; (P) 188.05; (R1) 188.98; More… Further rise is expected in GBP/JPY with 187.08 minor support intact. Current rally should target 61.8% projection of 180.74 to 188.26 from 184.44 at 189.08 first. Break will target 100% projection at 191.96 next. On the downside, below 187.08 minor support will turn intraday bias neutral […] The post GBP/JPY Daily Outlook appeared first on Action Forex.

S&P 500 Technical Analysis

Nov 27, 2023 | 01:26 am

Last week, the S&P 500 didn't move much given the lack of economic events and the Thanksgiving holidays in the final part of the week. The only two important reports were the US Jobless Claims and the US PMIs. The former beat expectations across the board, while the latter came basically in line with forecasts. This week we can expect more action with the holidays in the rear-view mirror and some key economic releases on the agenda. S&P 500 Technical Analysis – Daily TimeframeS&P 500 DailyOn the daily chart, we can see that the S&P 500 has almost reached the cycle high at 4607 following an incredible rally for the entire month of November. We can expect the sellers to step in around these levels targeting at least a deeper pullback. The buyers, on the other hand, remain in control and it’s hard to see them folding without a catalyst. S&P 500 Technical Analysis – 4 hour TimeframeS&P 500 4 hourOn the 4 hour chart, we can see that the price is diverging with the MACD, which is generally a sign of weakening momentum often followed by pullbacks or reversals. This might be a signal that we could see a pullback very soon, so it might be a good idea for the buyers to take some off the table, especially at these key levels. S&P 500 Technical Analysis – 1 hour TimeframeS&P 500 1 hourOn the 1 hour chart, we can see more closely the divergence with the MACD, which has been going on since the breakout of the key trendline around the 4400 resistance. The buyers continue to lean on the lower bound of the rising channel and the red 21 moving average to target the cycle high. The sellers, on the other hand, will want to see the price breaking lower to target a drop into the 4490 level and upon a further break, the support around the 4400 level where we can also find the 38.2% Fibonacci retracement level of the entire rally. Upcoming Events Tomorrow, we have the US Consumer Confidence report. On Thursday, we will see the latest US Jobless Claims figures and the US PCE report. On Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

Gold Technical Analysis

Nov 27, 2023 | 00:09 am

Gold has breached the recent high at 2010 in the APAC session as the bullish sentiment continues to prevail amid rate cuts expectations and weakening US data. Such expectations led to lower real yields and weaker US Dollar which are in favour of higher Gold prices. The Fed is now done with the tightening cycle and the data is likely to deteriorate further, so on a forward-looking basis Gold should remain supported with the all-time high at 2078 being the natural target. Gold Technical Analysis – Daily TimeframeGold DailyOn the daily chart, we can see that Gold probed above the recent high at 2010 today as the bullish bias continues to be supported by rate cuts expectations amid weakening US data. The target for the buyers should be the all-time high zone around the 2076 level. The sellers, on the other hand, will need some key downside breakouts to pile in as there’s no resistance until the all-time high. Gold Technical Analysis – 4 hour TimeframeGold 4 hourOn the 4 hour chart, we can see that the buyers continue to lean on the trendline and the red 21 moving average to keep positioning for the all-time high. The spike higher today diverged with the MACD which is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, the buyers would be better off waiting for a pullback into the trendline where they will have a better risk to reward setup. The sellers, on the other hand, will want to see the price breaking lower to pile in and target a break below the 1985 support. Gold Technical Analysis – 1 hour TimeframeGold 1 hourOn the 1 hour chart, we can see more closely the current price action around the recent high. We can expect some aggressive buyers piling in already at this zone with a defined risk below it to target another extension to the upside, but the risk to reward would be much worse. Conversely, some aggressive sellers might want to pile in as soon as the price falls below this zone to target a pullback into the trendline. Upcoming Events Tomorrow, we have the US Consumer Confidence report. On Thursday, we will see the latest US Jobless Claims figures and the US PCE report. On Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. Weak data is likely to give a boost to Gold while strong figures should lead to pullbacks. See the video below This article was written by FL Contributors at www.forexlive.com.

Russell 2000 Technical Analysis

Nov 26, 2023 | 22:58 pm

Last week, the Russell 2000 didn't move much given the lack of economic events and the Thanksgiving holidays in the final part of the week. The only two important reports were the US Jobless Claims and the US PMIs. The former beat expectations across the board, while the latter came basically in line with forecasts. This week we can expect more action with the holidays in the rear-view mirror and some key economic releases on the agenda. Russell 2000 Technical Analysis – Daily TimeframeRussell 2000 DailyOn the daily chart, we can see that the Russell 2000 is testing the key resistance zone around the 1820 level. We can expect the sellers to pile in here with a defined risk above the resistance to target a drop into the upward trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into the next resistance around the 1920 level. Russell 2000 Technical Analysis – 4 hour TimeframeRussell 2000 4 hourOn the 4 hour chart, we can see that from a risk management perspective, the buyers will have a much better risk to reward setup at the trendline where we can also find the 61.8% Fibonacci retracement level and the daily red 21 moving average for confluence. A break below the trendline would invalidate the bullish setup and likely trigger a selloff with the sellers adding more to their positions. Russell 2000 Technical Analysis – 1 hour TimeframeRussell 2000 1 hourOn the 1 hour chart, we can see that the recent consolidation has formed a symmetrical triangle right below the key resistance, which was breached last Friday. The buyers piled in on the breakout and are now targeting a break above the key resistance. The odds are now more in favour of a continuation to the upside given the breakout of the triangle, but the buyers will need to break the key resistance to confirm it. Upcoming Events Tomorrow, we have the US Consumer Confidence report. On Thursday, we will see the latest US Jobless Claims figures and the US PCE report. On Friday, we conclude the week with the US ISM Manufacturing PMI which missed expectations by a big margin the last time. This article was written by FL Contributors at www.forexlive.com.

CHF/JPY Technical: Bearish elements sighted below the all-time high of 170.54

Nov 26, 2023 | 21:42 pm

Bearish readings seen in the daily and hourly RSI momentum indicators have reinforced the weakening medium-term and short-term impulsive up moves of CHF/JPY. Watch the key short-term resistance at 169.65 for CHF/JPY. The major uptrend phase of the CHF/JPY has started to show signs of bullish exhaustion at this juncture which increases the risk of […]

EUR/GBP – Germany on the brink of recession, UK consumer confidence improving

Nov 24, 2023 | 05:12 am

German double-dip recession likely after 0.1% contraction in Q3 UK consumer confidence improves but remains weak EURGBP appears to fail again near range high German uncertainty weighing on the single currency The euro is slipping against the pound at the end of the week with economic data highlighting the challenges facing the bloc. Nowhere is […]

Service PMI. USA, 15:45 (GMT+2)

Nov 24, 2023 | 04:45 am

At 15:45 (GMT+2), the November index of business activity in the services sector will be published in the United States. The indicator reflects the state of business activity in the service sector and is calculated based on a survey of 400 supply managers at non-manufacturing enterprises. At the same time, their attitude to the current economic situation and prospects for its further development is assessed. It is predicted that the indicator will decrease from 50.6 points to 50.3 points. Read more

Retail sales. Canada, 15:30 (GMT+2)

Nov 24, 2023 | 04:30 am

At 15:30 (GMT+2), September data on retail sales will be presented in Canada. The indicator records the volume of all goods sold by retailers based on samples of stores of different types and sizes. It is an important indicator of consumer spending and has a significant impact on gross domestic product (GDP). The figure is expected to adjust from –0.1% to 0.0% in September, and the core value from 0.1% to –0.2%, putting pressure on the Canadian dollar. Read more

Japanese yen shrugs as core CPI ticks higher

Nov 24, 2023 | 03:51 am

Japanese core inflation rises US PMIs expected to show little change The Japanese yen is unchanged on Friday, trading at 149.57. Japan’s core inflation rises to 2.9% Japan’s core CPI rose slightly in October to 2.9% y/y, up from 2.8% in September and just below the consensus estimate of 3.0%. The core CPI print excludes […]

Germany 30 Technical: Bullish momentum remains intact

Nov 24, 2023 | 02:58 am

Key elements remain positive that support the ongoing short-term uptrend phase. Watch the key short-term support at 15,930. Next intermediate resistance stands at 16,200. Fig 1: Germany 30 minor short-term trend as of 24 Nov 2023 (Source: TradingView, click to enlarge chart) Since its bullish breakout from its former medium-term descending channel resistance last Tuesday, […]

EUR/USD steady as German GDP contracts

Nov 24, 2023 | 02:44 am

German GDP shrinks in Q3 US to release manufacturing and services PMIs The euro is almost unchanged on Friday. In the European session, EUR/USD is trading at 1.0903, down 0.03%. German economy declines German GDP posted a minor drop in the third quarter, coming in at -0.1% q/q. This was down slightly from -0.1% in […]

NZD/USD edges higher as retail sales beat expectations

Nov 24, 2023 | 01:03 am

New Zealand retail sales flatline in Q3 US releases PMIs later today The New Zealand dollar has posted slight gains on Friday. In the European session, NZD/USD is trading at 0.6059, up 0.17%. The New Zealand dollar is headed to a second-straight winning week and has sparkled in November, with gains of 4% against the […]

Business expectations. Germany, 11:00 (GMT+2)

Nov 24, 2023 | 00:00 am

At 11:00 (GMT+2), the November index of business expectations in Germany will be published, which measures business sentiment and business conditions in the country through a survey of representatives of 7.0K companies. An increase is predicted from the current 84.7 points to 85.7 points, supporting the euro. Read more

Speech by ECB President Christine Lagarde. EU, 11:00 (GMT+2)

Nov 24, 2023 | 00:00 am

At 11:00 (GMT+2), the Chairman of the European Central Bank (ECB) Christine Lagarde will speak. Investors are following the rhetoric of regulator representatives, trying to get hints about further prospects for the development of the EU economy in conditions of inflationary pressure. Read more

IFO business climate. Germany, 11:00 (GMT+2)

Nov 24, 2023 | 00:00 am

At 11:00 (GMT+2), the November German business climate index from the Institute for Economic Research (IFO), based on a survey of managers of 7.0K enterprises in the manufacturing industry, construction sector, wholesale and retail trade, will be published. The value is expected to increase from 86.9 points to 87.5 points, which, in turn, supporting the euro. Read more

USD/JPY: Japan’s inflation accelerated, a struggle for bulls at the 50-day moving average

Nov 23, 2023 | 22:06 pm

Resurgence of inflationary pressures in Japan due to higher import costs from energy prices. The Bank of Japan may face renewed political pressure to normalize its current dovish monetary policy stance to negate significant JPY’s weakness. Recent uptick in 10-year JGB yield from an 11-week low may trigger another potential down leg in USD/JPY. Watch […]

Gross domestic product. Germany, 09:00 (GMT+2)

Nov 23, 2023 | 22:00 pm

At 09:00 (GMT+2), preliminary data on Germany’s gross domestic product (GDP) for the third quarter of this year will be released. It is the main indicator reflecting the state of the national economy, which considers domestic consumption, investment, government spending and exports. It is expected that the indicator will drop from 0.0% to –0.1% QoQ and from –0.2% to –0.3% YoY, putting pressure on the euro. Read more

Manufacturing and service PMI. Japan, 02:30 (GMT+2)

Nov 23, 2023 | 15:30 pm

At 02:30 (GMT+2), November data on business activity indices in the manufacturing and service sectors of Japan will be published. The indicators reflect the state of business activity in the manufacturing and service industries and are calculated based on a survey of purchasing and supply managers of leading enterprises, while assessing the attitude of purchasing and supply managers to the current economic situation and prospects for its further development. It is expected that in the manufacturing sector the index will increase from the current 48.7 points to 48.8 points, and in the services sector it will be adjusted from 51.6... Read more

GfK consumer climate. UK, 02:01 (GMT+2)

Nov 23, 2023 | 15:01 pm

At 02:01 (GMT+2), November data on the consumer climate index from GfK Group will be published in the UK. The indicator assesses the degree of confidence in the strength of the economy and is a leading indicator of household spending. The negative dynamics are expected to slow down from –30.0 points to –27.0 points, putting pressure on the pound. Read more

Nationwide Core CPI. Japan, 01:30 (GMT+2)

Nov 23, 2023 | 14:30 pm

At 01:30 (GMT+2), the October national core consumer price index will be published, recording changes in the price of goods and services, excluding food and energy. It is a key way to determine purchasing trends and inflation in Japan. The rate is expected to rise from 2.8% to 3.0% YoY. Read more

Retail sales. New Zealand, 23:45 (GMT+2)

Nov 23, 2023 | 12:45 pm

At 23:45 (GMT+2) in New Zealand, Q3 data on retail sales will be published. The indicator records the monthly volume of all goods sold by retailers, based on a sample of retail stores of different types and sizes. It is an important indicator of consumer spending and has a significant impact on gross domestic product (GDP). The index is expected to correct from –1.0% to –0.8%, and the core value from –1.8% to –1.5%, putting pressure on the New Zealand dollar. Read more

Brent Crude – Oil volatile ahead of next week’s OPEC+ meeting

Nov 23, 2023 | 09:02 am

Oil pares losses after initial plunge Oil has remained quite volatile today after briefly plunging on Wednesday following reports that OPEC+ has decided to push back its meeting from 16th to 20th November.

Hedging the Markets – EUR/GBP testing highs after stronger PMI data (video)

Nov 23, 2023 | 08:26 am

OANDA Senior Market Analyst Craig Erlam discusses the recent moves in EURGBP in light of this morning’s PMI data.

Manufacturing and service PMI. UK, 11:30 (GMT+2)

Nov 23, 2023 | 00:30 am

At 11:30 (GMT+2), November data on business activity indices in the UK manufacturing and services sectors will be published. The indicators reflect the state of business activity in the national manufacturing and service industries and are calculated based on a survey of purchasing and supply managers of leading national enterprises. At the same time, their attitude to the current economic situation and prospects for its further development is assessed. It is expected that manufacturing PMI will correct from 44.8 points to 45.0 points, and services PMI remain at 49.5 points. Read more

Manufacturing and service PMI. EU, 11:00 (GMT+2)

Nov 23, 2023 | 00:00 am

At 11:00 (GMT+2), November data on business activity indices in the manufacturing and services sectors of the EU countries will be published. The indicators reflect the state of business activity in the manufacturing and service industries and are calculated based on a survey of purchasing and supply managers of leading enterprises while assessing the attitude of purchasing and supply managers to the current economic situation and prospects for its further development. Manufacturing PMI is expected to rise from the current 43.1 points to 43.4 points, and service PMI – from 47.8 points to 48.1 points. Read more

Manufacturing and service PMI. Germany, 10:30 (GMT+2)

Nov 22, 2023 | 23:30 pm

At 10:30 (GMT+2), November data on business activity indices in the manufacturing and service sectors of Germany will be published. The indicators reflect the state of business activity in the national manufacturing and service industries and are calculated based on a survey of purchasing and supply managers of leading national enterprises while assessing the attitude of purchasing and supply managers to the current economic situation and prospects for its further development. Manufacturing PMI is expected to rise from 40.8 points to 41.2 points and service PMI – from 48.2 points to 48.5 points. Read more

Baker Hughes oil rig count. USA, 20:00 (GMT+2)

Nov 22, 2023 | 09:00 am

At 20:00 (GMT+2), data on the number of active oil rigs from Baker Hughes will be published. The weekly report records changes in the amount of oil production capacity in the United States. The last time the number of towers increased to 500, and the continuation of this trend may put pressure on oil quotes. Read more

Crude oil inventories. USA, 17:30 (GMT+2)

Nov 22, 2023 | 06:30 am

At 17:30 (GMT+2), the US Department of Energy’s Energy Information Administration (EIA) will publish a weekly report containing data on changes in the volumes of crude oil, as well as gasoline and distillates in the country. A correction is expected from the current 3.592M barrels to 1.793M barrels, supporting oil quotes. Read more

Michigan consumer sentiment. USA, 17:00 (GMT+2)

Nov 22, 2023 | 06:00 am

At 17:00 (GMT+2), November data on changes in the consumer confidence index from the University of Michigan will be published in the United States. The indicator is calculated monthly based on a telephone survey of at least 500 American households and records consumer spending that is part of economic activity. The value is expected to decrease from 63.8 points to 60.4 points. Read more

Consumer confidence. EU, 17:00 (GMT+2)

Nov 22, 2023 | 06:00 am

At 17:00 (GMT+2), November data on the consumer confidence index in the EU countries will be published. The indicator is calculated based on a survey of 2.3K households that assess the prospects of the economy. It is a leading indicator for consumer spending, with high readings indicating consumer optimism and vice versa. It is expected that the indicator will slow down the negative dynamics from the current ˗17.9 points to ˗17.6 points, putting pressure on the euro. Read more

Durable goods orders. USA, 15:30 (GMT+2)

Nov 22, 2023 | 04:30 am

At 15:30 (GMT+2) in the United States, October data on the volume of orders for durable goods with a service life of more than three years will be published. The indicator is a leading indicator of industrial activity. Total orders are expected to adjust from 4.7% to –3.2%, and core orders from 0.5% to 0.1%. Read more

Initial jobless claims. USA, 15:30 (GMT+2)

Nov 22, 2023 | 04:30 am

At 15:30 (GMT+2), the US will present weekly data on the number of initial unemployment claims. The indicator measures the number of people who applied for the first time during the past week. The data is collected by the Ministry of Labor and published in a weekly report. The number of benefit claims is used to measure the health of the employment sector, as an increase in the number means that fewer people are being hired. A correction is expected from 231.0K to 225.0K. Read more

CBI industrial trend orders. UK, 13:00 (GMT+2)

Nov 22, 2023 | 02:00 am

At 13:00 (GMT+2), November data on the index of industrial orders from the Confederation of British Industry (CBI) will be published in the UK. The indicator is calculated based on a survey of representatives of leading British enterprises and is an important indicator of the state of business in the country. The negative dynamics are predicted to slow down from −26.0 points to −25.0 points, putting pressure on the pound. Read more

Crude oil reserves. USA, 23:30 (GMT+2)

Nov 21, 2023 | 12:30 pm

At 23:30 (GMT+2), a weekly report on the amount of oil reserves, gasoline, and distillate volumes from the American Petroleum Institute (API) will be published. Earlier, statistics recorded a correction to 1.335M barrels of crude oil and the continuation of this trend may put pressure on oil prices. Read more

Meeting minutes of the US Federal Open Market Committee. USA, 20:00 (GMT+2)

Nov 21, 2023 | 09:00 am

At 20:00 (GMT+2) in the United States, the minutes of the last meeting of the US Federal Open Market Committee will be published. This document may give investors insight into officials’ views on the future direction of national monetary policy. Thus, at the last meeting, the regulator kept the interest rate at 5.50% but many experts are confident that the “hawkish” course has not yet been completed. Read more

Existing home sales. USA, 17:00 (GMT+2)

Nov 21, 2023 | 06:00 am

At 17:00 (GMT+2), October existing home sales data will be published, which reflects the number of existing residential buildings sold during the past month and is one of the most important indicators of the construction market. The figure is expected to fall from 3.96M to 3.90M, putting pressure on the American dollar. Read more

New housing price index. Canada, 15:30 (GMT+2)

Nov 21, 2023 | 04:30 am

At 15:30 (GMT+2) in Canada, the October price index for new housing will be published, reflecting the state of the national real estate market and assessing the impact of its dynamics on the economy. The value may rise from –0.2% to 0.1%, supporting the Canadian dollar. Read more

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