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USDZAR View!!South Africa's rand softened on Wednesday, ahead of the closely watched minutes from the Federal Reserve's September meeting. At 1554 GMT, the rand traded at 17.6425 against the dollar USDZAR , about 0.3% weaker than its previous close. The dollar index DXY last traded up about 0.3% against a basket of currencies. "Dollar strength of late can be attributed to stronger economic data out of the region which is dimming the outlook of further outsized rate cuts this year in the world's largest economy," said Shaun Murison, senior market analyst at IG.
Short
by FXBANkthe8055
EURCAD View!!Markets expect the Federal Reserve to cut rates by just 25 bps in November, rather than 50 bps, following the jobs data. According to CME's FedWatch tool, markets are pricing in a 85% chance of a quarter point cut, up from 47% a week ago, and a slim 0.15% prospect of no cut at all. A rise in the yield on the benchmark U.S. 10-year note US10Y above 4% for the first time in two months was also a psychological support. Against the Japanese yen, the dollar weakened after Atsushi Mimura, Japan's top currency diplomat, issued a warning against speculative moves on the foreign exchange market.
Long
by FXBANkthe8055
EURUSD bullish Waiting patiently for buys, when I get a discounted price, only then will I consider buying. Consider as well we are currently reacting on fair value gap (FVG) on a strong timeframe, the monthly as well as H4 and unmitigated H1 FVG inside the discount area. I have more confidence but to illustrate my point check out the chart considering also support and resistance zones as I've not included them but did consider them in my thesis and analysis which also play an important role in my final conclusion. As CPI approaches price may spike into indicated "entry area" Follow for more.
Long
by ManMcPriceaction
Wednesday Market Analysis and SignalsTechnical aspect Technical aspect: the continuous decline of gold daily line broke the adjustment range of the past two weeks. After the daily New York closing price of ten weeks MA10 daily moving average, the current MA7/10 daily moving average opened downward to suppress the 2644/2647 line, the 5-day moving average is at the 2638 line, the RSI indicator callback is close to the central axis, the four-hour moving average dead cross opened downward, the price is running in the middle and lower track of the Bollinger band, the RSI indicator is running below the central axis 50 value, and the short-term moving average suppresses 2632/36. Gold 4 hours continues to turn downward, and there is still room for gold shorts. Gold 4 hours has shown a multiple top structure, and then fell and broke. Gold has fallen below the previous low point. The previous gold transaction concentration area above 2632 has now formed a heavy pressure area; gold rebounds to 2632 and continues to short at highs. Sell high and buy low in the 2600~2632 range
OANDA:XAUUSDShort
by Jun-goldFX