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Gbpusd slip on the floor hit on the bottom read the caption Hot US inflation report justified the Fed’s pushback against early and aggressive interest rate cut expectations, triggering a fresh rally in the US Treasury bond yields and the US Dollar. In light of this, GBP/USD reversed sharply from the weekly high of 1.2681 to as low as 1.2572 The correction in the currency pair gained momentum on Wednesday after the annual CPI inflation in the UK remained unchanged at 4.0% in January, against the market forecast of an increase to 4.2%. reported month, missing estimates of 5.3%.
Short
by Mrsam36
xauusd will hit below 1950 read the caption On the flip side, the 100-day SMA, currently around the $1,993-1,992 area, could act as immediate support ahead of the $1,985 region, or a two-month low touched on Wednesday. This is followed by the very important 200-day SMA, currently pegged near the $1,967 area, which if broken decisively will be seen as a fresh trigger for bearish trades. The Gold price might then accelerate the fall towards an intermediate support near the $1,955-1,951 zone en route to the November 2023 low, around the $1,938-1,935 region.
OANDA:XAUUSDShort
by Mrsam36
Audusd like a snake but snake go down read the caption The AUDUSD fell sharply yesterday, and that selling continued in the Asian session today. However after reaching into a key swing area between 0.6445 and 0.6455, momentum slowed, the price bottomed and a rebound was started. That move has now taken the price of 0.64912. Just ahead is a broken 61.8% retracement of the move-up from the October low to the December high. That level comes at 0.64992 (let's call it 0.6501). Moving above that level would have traders looking toward a swing area near 0.6524 and the 100-day moving average of 0.65325
Short
by Mrsam36
Uadchf move up here is opportunity read the caption The USDCHF moved sharply higher yesterday after the stronger-than-expected CPI. The move to the upside extended above the 50% retracement of the move down from the October high. That level comes in at 0.8789. The 100-day moving average. That level comes in at 0.8805, and the 200-day moving average. The level comes in at 0.88464 The breaks of those key targets tilted the bias more in favor of the buyers. The best-case scenario going forward is for the 200-day moving average to hold support. Stay above 0.88465 is the most bullish scenario.
Long
by Mrsam36
Eurusd time short big sell move coming like yesterday read the cEUR/USD news to watch will be the second estimate from Europe. Economists expect the data to show that the economy stalled in Q4. Eurostat will also release the latest weak industrial production data. The EUR/USD pair made a strong bearish breakout this week. It moved below the lower side of the bearish flag pattern. The pair also retreated below the support at 1.0722, its lowest point on February 6th. It has moved below the 50-period and 24-period moving averages while the
Short
by Mrsam36
Gbpusd surely Fall big dips read the caption The GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will likely struggle to get to Fed’s target of 2.1%. It has remained between 3.2% and 3.3% in the past few months as the Fed has maintained rates at a 22-year high
Short
by Mrsam36
Gbpusd below line now big dipsThe GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by 3.2% in January, higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%. These numbers mean that inflation is still high in the country and that it will likely struggle to get to Fed’s target of 2.1%. It has remained between 3.2% and 3.3% in the past few months as the Fed has maintained rates at a 22-year high
Short
by Mrsam36
Nzdusd going up more than expected read the caption Nzdusd lower more than expected The RBNZ’s steep rate-tightening cycle, which has raised the benchmark rate to 5.4%, has significantly lowered inflation but there is more work to be done. Orr & Co. wouldn’t mind maintaining rates in restrictive territory in order to continue pushing inflation lower. We’ll get a look at New Zealand inflation expectations for the first quarter on Tuesday, which could move the New Zealand dollar. In the fourth quarter, inflation expectations eased to 2.75%, down from 2.82%, which was its lowest level in two years.
Long
by Mrsam36
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