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Middle East escalation and a Surging US dollar In a significant escalation of hostilities in the Middle East, Iran fired missiles into Iraq, resulting in casualties. Reports indicate that at least one missile hit very close to the US Consulate in Erbil. Beyond the provocation towards the US, the act of firing missiles into a neighboring country by Iran is likely to prompt a response. Additionally, unsettling news emerged that members of the Islamic Revolutionary Guard Corps (IRGC), a branch of the Iranian Armed Forces, are collaborating with Houthi terrorists in Yemen to target sailors on merchant ships in the Red Sea. As Asia's liquidity entered the markets, there was an upward movement for the USD. In contrast, major currencies such as EUR, AUD, NZD, CAD, CHF, GBP, and JPY all experienced losses. Notably, despite the geopolitical tensions, US yields remained supported.
TVC:DXYLong
by Elite_Forex
History To Repeat Itself? S&P500Is it possible for the stock market to repeat itself? After the stronger-than-expected NFP last week investors are repricing the aggressive FED rate cuts expected for 2024. This was immediately affected in the stock market as the main indexes dropped and the dollar managed to recover some ground. The month of January is generally weak for the index as the 10-year average return for this month is only 0.17% making it one of the weakest periods for the index. A noticeable resistance zone can be spotted and used in advantage to look for shorts and get more than a 1:3 Risk-Reward-Ratio.
VANTAGE:SP500Short
by Elite_Forex
EURUSD (A huge Earthquake is Coming) Hello my friends, how are you doing? I hope you will fulfil your ambitions ❤️❤️❤️ Today, I want to talk about EURUSD. What a chart! wow. Before that, I want to remember It's not financial advice. so, just see and think about it. I'm just sharing my view and opinion of the chart. Please do your own research. Don't waste time and Let's go into details 🌺🌺🌺 Based on the Elliot wave, we can count waves. each wave includes 5 microwaves and today I want to count the waves at EURUSD. That's all we do. there is a very very important point in this chart and I want to tell you that. Based on Elliot's theory, the second wave can retrace the first wave to a maximum of 0.618 Fibonacci. and if this retracement takes longer, we would expect to see an extended third wave. Exactly, in EURUSD we see this situation. Please check the first photo 👆👆👆 The second wave retraced the first one till 0.886 Fibonacci and it's so dangerous. so we expect to see an extended third wave. in this case, we see the third wave moved to 4.618 Fibonacci. and it sounds strange. it's happened. exactly such as I said. Please check all these photos. And the Fourth wave can retrace to a maximum of 0.618 Fibonacci of the 3rd wave and the last wave (the fifth wave) will begin. Now, it's time to calculate the last PRZ for the end of the fifth wave. I did it for you guys. And I expect the fifth wave to drop to 0.85-0.88. it means that the worth of EURUSD drops to a zone between 0.85-0.88 and if this happens, all markets will drop soon. please, for God's sake, watch the market. the situation is so complicated. don't forget to save your profit. SP500, BTC, NDX and so on will drop soon more than you think. ✔️ ✔️ it was my duty to warn you about this earthquake. I'm sure you are confused right now. But it's ok and there is no problem. Time Proves Everything. If you have any questions, or if you need to know more details please don't hesitate to contact me. 🙏🙏 Please don’t forget to like 👍, follow ✌️, and share 👌 this analysis with your friends. Thank you so much for your attention and participation 🙏🙏 Wish you the best 🧞♀️ Sincerely Yours 🙏🙏 Ho3ein.mnD
Short
by Sticky-Stock
2
GBP/USD Reaches New Peak Amid Strong Economic Signals from UKThe GBP/USD exchange rate surged to a twelve-week peak recently, riding on improved consumer confidence and a positive business outlook, despite persistent recessionary pressures. This upward movement, with the pound sterling hitting 1.2615 against the US dollar, reflects a favorable response to the latest S&P Global/CIPS data. Additionally, a sell-off in Gilts bolstered bond yields, contributing to the market's optimistic stance. Amidst mixed economic signals from both the UK and the US, the GBP/USD pair maintained its strength, trading at 1.2606. In the UK, while inflation displayed signs of cooling down, it remained notably higher than the Bank of England's target rate, registering at 4.6%. The recent Chancellor’s Autumn Statement offered a balanced perspective on growth and inflation, steering a path of cautious optimism. BoE Chief Economist Huw Pill's reiteration of the central bank's commitment to combatting inflation further solidified market sentiments. Looking forward, market players are eagerly anticipating further insights and crucial US economic reports, including Consumer Confidence and ISM Manufacturing PMI and how will they compare from the ones from UK These upcoming factors are anticipated to wield significant influence on the future movements of the GBP/USD exchange rate. In technical terms, indicators such as RSI and MACD are signaling Buy, reinforcing the ongoing trend. If the current trajectory persists, the price could potentially ascend to levels around 1.2733, with a probable pivot point at 1.2583. However, there might be a downside risk, with potential drops to support levels at 1.2458, indicative of a cautious market sentiment amid the evolving economic landscape. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial