The US Stock Market Awaits the Publication of NFP And Unemployment Data
Important events of this week for investors and traders in the US stock market could be the employment news, which will be published tomorrow at 15:30 GMT+3:
→ non-Farm Payrolls (NFP) report for March. According to CNN, analysts expect nonfarm payrolls to rise by 192,500 in March. NFP for...
Brent Oil Price Reaches Its Highest Since October 2023
The Brent oil chart today shows that the price has exceeded USD 89 per barrel — this is the highest level since the end of October 2023.
Reasons for strong demand for oil:
→ The OPEC+ meeting ended this week. Exporting countries maintained their policy of limiting oil production unchanged.
→ Ukrainian drone...
USD/JPY Analysis: Calm Before the Storm?
The USD/JPY chart today shows that the rate has stabilized at 152 yen per US dollar. But can we say that there is calm in the market?
Hardly.
First, it is important to note that in 2023 there was a sharp reversal of trend around the 152.00 level due to intervention by the Japanese authorities, which supported an...
Market Analysis: USD/CHF Could Extend Gains
USD/CHF climbed higher above 0.9070 and might extend gains in the near term.
Important Takeaways for USD/CHF Analysis Today
USD/CHF climbed higher above the 0.9035 and 0.9070 resistance levels.
There was a break above a major bearish trend line with resistance at 0.9035 on the hourly chart at FXOpen.
...
Market Analysis: EUR/USD Starts Recovery
EUR/USD is attempting a recovery wave from the 1.0725 zone.
Important Takeaways for EUR/USD Analysis Today
The Euro declined toward 1.0725 before it started a recovery wave against the US Dollar.
There was a break above a key bearish trend line with resistance at 1.0765 on the hourly chart of EUR/USD at FXOpen.
...
Gold Price XAU/USD Sets Another All-time High
The XAU/USD gold chart today indicates that the price of the metal has exceeded USD 2,250 per ounce.
Causes:
→ Geopolitical tensions. Military conflicts in Ukraine and the Middle East do not subside, the threat of terrorist attacks is growing, and new hot spots may appear on the world map.
→ Concerns about a new...
How to Trade the Cypher Harmonic Pattern
If you’re an avid trader, you’re probably familiar with harmonic patterns. One of the rarer and more advanced patterns is the Cypher, which can be an effective tool for identifying potential trend reversals and entry points.
However, successfully trading the Cypher pattern requires a thorough understanding of its...
US Dollar Strengthens after Strong ISM Manufacturing PMI Report
Yesterday, news was published on the state of the US manufacturing sector, namely the Purchase Manager Index (PMI), which is calculated by The Institute for Supply Management (ISM).
The data turned out to be strong: fact = 50.3, forecast = 48.5, a month earlier = 47.8.
Since readings above 50...
E-mini S&P-500 Start Quarter at Historic Highs
On Friday, data from the Personal Consumption Expenditures (PCE) index was published. According to Trading Economics, the PCE price index report showed that inflation is slowing. On a monthly basis, it grew by 0.3% in February, forecast = 0.4%, a month ago = 0.4%.
Following the release of the PCE index, Jerome...
What Is the Spot Market?
The spot market is a fundamental aspect of the financial world. The concept may be unfamiliar to some, hence it is important to provide a comprehensive spot market definition, examine the types of markets, and identify the key players. Let’s delve into the topic.
Spot Market: Meaning
A spot market is a financial market in which...
Although UK-100 Index Is Near All-time Highs, UK Economy Slips into Recession
Technically, a national economic recession is defined as two consecutive quarters of contraction, and yesterday's Office for National Statistics data confirmed that this has happened — UK GDP fell in the third and fourth quarters of 2023 by 0.1% and 0.3% respectively.
The Guardian...
DOGE Price Increases by 170% in Less Than 2 Months
On February 1, 2024, the DOGE/USD rate was = 0.0783. On the last Friday of March, it rose to 0.2150. The rising price means Dogecoin is now the eighth-largest cryptocurrency in the world by market capitalization, overtaking Cardano (ADA) and Avalanche (AVAX) in recent days.
The reason for the positive sentiment...
Market Analysis: Crude Oil Price Gain Bullish Momentum
Crude oil prices are gaining bullish momentum and might rise toward $85.00.
Important Takeaways for Oil Prices Analysis Today
Crude oil prices rallied above the $81.60 and $82.00 resistance levels.
There is a key bullish trend line forming with support at $82.30 on the hourly chart of XTI/USD at...
Market Analysis: Gold Price Gain Bullish Momentum
Gold price started a steady increase above the $2,200 resistance level.
Important Takeaways for Gold Prices Analysis Today
Gold price started a decent increase from the $2,158 zone against the US Dollar.
A connecting bullish trend line is forming with support near $2,218 on the hourly chart of gold at...
The Wyckoff Trading Method
The Wyckoff method is a popular technique for analysing market trends, finding reversals, and making informed trading decisions. In this article, we’ll provide an overview of this decades-old system and explain how you may apply it to your strategy.
What Is the Wyckoff Method?
The Wyckoff method is a type of technical analysis...
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Stock Market Analysis: NVDA Losing Leadership?
Since the start of the week, the S&P-500 Index (US500) is up about 0.58% while NVDA's share price is down about 3.8%. This is a worrying sign for Nvidia stock investors — could it be a sign that NVDA is no longer the market leader?
Dubravko Lakos-Bujas, JPMorgan's chief equity strategist, warned of a potential...
EUR/USD Analysis: The Price Today Has Set Its Minimum Since the Beginning of March
As the EUR/USD chart shows at the start of the European session today, the exchange rate has dropped below EUR 1.08 per US dollar.
Tuesday's news contributed to this. According to Nasdaq.com, on March 26, 2024, The Conference Board published a report for March, according to which...
