Get started

Tradingforex

GBPJPY: Reuters: The BOJ meeting next week is expected to have nThe latest Reuters poll on the Bank of Japan's outlook includes the following key points: BoJ will end negative interest rates by 2024, 84% of economists said in their quarter-end forecast; 71% in the November poll and 54% in the October poll. 88% of economists think the BoJ will end yield curve control; 12% think the BoJ will adjust YCC again. 28 out of 42 economists say BoJ interest rates will rise to 0.00% or 0.10% by the end of the second quarter of 2024; Two people thought it was 0.25%.
Short
by Chart_MasterPro
1
USDJPY: Japan's ruling party proposes to reduce income taxReuters reported: The tax reform council of Japan's ruling Liberal Democratic Party has agreed to reduce income taxes to compensate households suffering from soaring prices and support a change in the deflationary mindset that has pervaded the country. past decades The move is also intended to encourage a healthy growth cycle driven by private sector demand, with tax policymakers increasing tax breaks for businesses planning to increase wages. The draft of tax breaks under the framework of tax reform in fiscal year 2024 will be finalized on Thursday
Short
by Chart_MasterPro
NZDJPY: Asian session market update: NZD decreased during the seNZD fell during the session, a report from Westpac cut its expectations for Q4 CPI to 3%. If inflation falls rapidly, it would mean the Reserve Bank of New Zealand does not need to keep interest rates 'higher for longer' and would therefore cut support for the NZD. In addition, the Tankan Q4 report includes a survey of thousands of Japanese companies of all sizes, in many industries conducted by the Bank of Japan. Shows that the Japanese economy continues to improve, albeit slowly, and also shows that business inflation expectations remain above 2% (BOJ target) for 5 years! USD recovered, EUR, GBP, CAD, AUD all decreased slightly. The market is now mainly waiting for the Federal Open Market Committee (FOMC). Oil prices remain high, a draft global declaration at COP28 called for the world to transition away from fossil fuels by 2050.
Long
by Chart_MasterPro
EUR/NZD ShortEUR/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
1
EUR/GBP Short, AUD/CAD Long, EUR/NZD Short and USD/CAD ShortEUR/GBP Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. AUD/CAD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up above our most recent low followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
5
AUDUSD: UBS: The Fed will still be cautious and declare the needUBS comments ahead of the December 12th and 13th FOMC meeting: The Summary Economic Outlook (SEP), released at the same time as the December policy statement, says there will likely be at least one, and more likely two, rate cuts in 2024. . While the market is happy with the FOMC's rate cuts, UBS expects the committee to be a little more cautious. The cumulative rate cuts deemed appropriate by a majority of FOMC officials over the SEP's forecast period are expected to be approximately 250 basis points. It's still too early to declare victory over inflation Even if the FOMC cuts rates, the Fed is likely to continue warning that it is prepared to raise rates again if there is any doubt that inflation is falling.
Short
by Chart_MasterPro
4
USDCHF: BoA warns about investors being too optimistic about intA note from Bank of America's strategy department about the Fed follows The market was ahead of expectations of 5 interest rate cuts next year from the Federal Open Market Committee (FOMC) and even more (6) from the European Central Bank. BoA believes that expectations need to be tempered due to: Core inflation remains high And inflation risks are higher in early 2024 as the base effects from energy prices fade. In Europe: Eurozone deflation at current levels could support interest rate cuts starting in March
Short
by Chart_MasterPro
EUR/GBP Short, EUR/NZD Short and USD/CAD ShortEUR/GBP Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/NZD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Short
by StewySongs
3
EUR/GBP Short, USD/CAD Short and GBP/USD LongEUR/GBP Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/USD Long • If price impulses up above our most recent high, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
XAUUSD H8 - Long SignalXAUUSD is currently in proximity to the resistance level at 2035. A decisive breakthrough above this threshold holds the potential to rekindle bullish sentiment, especially in correlation with the anticipated decline in DXY, aligning with our earlier analysis. While keeping a watchful eye on the unfolding market dynamics, it's worth highlighting the identified support zone at $2000/oz for its evident strength and confluence. The upcoming events, particularly the release of NFP, AE, and UE data, are likely to play a pivotal role in shaping the market trajectory. Until then, we remain attuned to the unfolding developments, expecting a more pronounced market response post the release of key economic indicators.
FX:XAUUSDLong
by Trade_Simple_FX
GBP/CHF Long, USD/CAD Short and EUR/GBP ShortGBP/CHF Long • If price impulses up, it does so in a convincing manner and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. USD/CAD Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/GBP Short • If price pushes up to and ideally just above our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
GBPUSD: The dollar's grip on FX will weaken in 2024, poll showsThe US dollar's influence on the foreign exchange market is likely to weaken in 2024, especially in the second half of the year, according to a study by Currency Strategists. The survey, which included the views of 71 analysts, found that expected U.S. Federal Reserve interest rate cuts next year could lead to a weaker dollar against G-10 currencies. other. The dollar, which has been a mainstay in foreign exchange markets since mid-2021, showed signs of weakness last week following dovish comments from some US Federal Reserve officials. This change in tone caused the dollar index to fall 3.0% in November, its biggest monthly decline in a year. The strength of the US economy is the main reason for the dollar's strength, with last quarter's annualized growth of 5.2%, the highest level since the final quarter of 2021. But analysts expect the dollar's weakening trend to continue next year, with most of the decline occurring by the end of 2024. Lee Hardman, senior currency strategist at MUFG, commented on the outlook: Challenges in global economic growth outside the United States are reasons to be cautious in predicting an immediate decline in the dollar. The dollar is expected to maintain some resilience in the first half of 2024, but strategists cannot agree on the factors that will determine its performance. Among the analysts, 20 cited interest rate differentials as potential factors, 17 cited economic indicators, seven cited demand for safe assets, and three cited other reasons.
Short
by Chart_MasterPro
NZD/USD Long and GBP/USD LongNZD/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
by StewySongs
3
GBPUSD: GBP/USD exchange rate hits 12-week high thanks to BritisOptimism prevailed in UK financial markets, with the pound/US dollar exchange rate hitting a 12-week high on improving consumer confidence and a solid business outlook. Promising despite continuing recessionary pressures. On Thursday, the pound rose to 1.2615 against the US dollar. This reflects a sell-off in government bonds that led to positive sentiment on the latest S&P Global/CIPS data and a rise in bond yields. So far, GBP/USD has remained strong, trading at 1.2606 due to a decline in manufacturing PMI amid mixed economic indicators from the US such as strong services and composite PMI. Although inflation in the UK is showing signs of subsidence, it remains well above the Bank of England's target interest rate of 4.6%. Markets also digested the Prime Minister's autumn statement, which offered a sober view on growth and inflation, with some cautious optimism. Furthermore, Hugh Pill, the BoE's chief economist, reiterated the bank's determination to fight inflation in a difficult economic environment. Looking ahead, traders are looking forward to further guidance from BoE Governor Andrew Bailey next week, with key US economic reports such as Consumer Confidence and the ISM Manufacturing Purchasing Managers' Business Index expected to improve in GBP/USD. may affect future volatility.
Long
by Chart_MasterPro
AUD/CAD Long, EUR/USD Long, NZD/USD Long and GBP/USD LongAUD/CAD Long • If price corrects and a tight flag forms, then I'll be looking to get long with a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. EUR/USD Long • If price corrects and a tight flag forms, then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. NZD/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. GBP/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
USDCHF: The USD "struggled" to regain the 103 markIn the first session of the week, the US dollar fell a further 0.18% to $103.23 on expectations that the US Federal Reserve could complete and begin raising interest rates. Onion cuttings will be taken in the first half of next year. At the time, the DXY index was heading for a monthly decline of more than 3%, its biggest decline since November 2022. At the same time, investors are awaiting a series of events and data this week that could determine the future direction of the market. interest rates around the world. Just a day later, the dollar fell a further 0.47% to $102.73, as investors continued to predict growth in the world's biggest economy would start to slow. Once again, the market is starting to factor in a rate cut in the first half of next year. According to CME's FedWatch tool, U.S. interest rate futures show a 33% chance that the Fed will cut interest rates in March 2024. The U.S. dollar "barely" rose 0.12% to $102.86 on Nov. 30 after newly released data showed the U.S. economy grew faster than originally reported in the third quarter. . Head. According to information from the U.S. Department of Commerce, U.S. gross domestic product (GDP) increased by 5.2%, faster than the previously reported 4.9%. This was the largest increase since the fourth quarter of 2021 and exceeded economists' expectations of 5%. According to reports, US inflation remains moderate, but on the first trading day of December, the DXY index once again reached the 103 level (up 0.75% to 103.51 points). The increase in jobless claims in October and last week shows the labor market is slowing. Accordingly, US inflation, as measured by the Personal Consumption Expenditure Index (PCE), was flat in October after rising 0.4% in September. Moreover, the PCE index recorded an increase every year. In October it was 3.0%. Meanwhile, the state's new unemployment claims rose by 7,000 last week to 218,000.
Long
by Chart_MasterPro
EUR/USD LongEUR/USD Long • If price pushes down to and ideally just below our area of value, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with either a reduced risk entry on the break of the flag or a risk entry within it. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
EURUSD: Fed official: Interest rates will stay limited for a Interest rates are "estimated to be at their lowest level in 25 years," Williams told the New York Fed's Bretton Woods Committee meeting. "I think it is appropriate to maintain a hawkish stance for some time to fully restore balance and return inflation sustainably to our long-term target of 2%," he said. The Fed is expected to keep interest rates on hold at its next meeting, giving it time to assess the economy after raising rates sharply from near zero in March 2022 to over 5% in July. . At the same time, expectations are rising in the bond market that the Fed's tightening cycle will come to an abrupt end with its first rate cut in May. "There's not a lot of sleep deprivation" given market expectations, Williams said, adding that any rate cuts would depend on inflation and how the economy progresses. He expects inflation to continue falling toward the 2% goal, and expects the Fed's price index to fall more than 2% next year and reach the target by 2025. Government figures on Thursday showed the PCE index fell to 3% in October. "We have taken a limited stance and things are moving in the right direction. We can now assess whether we need to do anything more." Still, the New York Fed president said if price pressures persist longer than expected, "additional policy tightening may be necessary," and Williams, like his colleagues, believes the current political path is not sufficiently restrictive. He emphasized the need to continue monitoring the data to assess whether this is the case. . So far, fourth quarter data shows signs of a significant decline in economic activity. Data released Thursday showed U.S. consumer spending fell in October compared to the previous month as inflation continued to slow. Inflation-adjusted personal spending rose 0.2% last month and 0.3% in September, according to the U.S. Bureau of Economic Analysis. The report also noted that the core PCE price index increased by 0.2%. The index rose 3.5%, its lowest level since 2021. Although he expects economic growth to remain below trend next year, he is "quite positive." Economists generally expect growth to be around 2%.
Short
by Chart_MasterPro