Forex48_TradingAcademy

Forex48_TradingAcademy

Analyzing the oil market, we see that WTI (West Texas Intermediate) is priced around $72.55 per barrel, while Brent is at $77.71 per barrel. Several key factors are influencing the current oil market scenario. Saudi Price Reduction: Saudi Arabia's decision to lower the prices of its oil exports to Asia has contributed to a bounce back in prices from the Monday...

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Here's an analysis of various candlestick patterns commonly used in technical analysis of financial markets: Dragonfly Doji: This candlestick has a small body with a long lower shadow and no upper shadow, indicating significant price exploration lower but closing near the opening price. It is often interpreted as a signal of a potential bullish reversal. Morning...

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Analyzing the USD/JPY pair, I observe that it is consolidating losses below the 144.00 level. The Japanese Yen (JPY) has gained traction following softer-than-expected Tokyo inflation data, strengthening expectations of a more hawkish approach by the Bank of Japan (BoJ) and widening the monetary policy divergence between the BoJ and the U.S. Federal Reserve (Fed)....

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USDCAD Analysis Canadian Dollar Weakness: The CAD is facing downward pressure against major currencies, primarily due to the decline in the crude oil market. This is a significant factor, as the Canadian economy is closely linked to oil prices. Impact of Economic Data: Upcoming Canadian data releases, such as the International Merchandise Trade Balance and...

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Gold (XAU/USD) has been subject to a blend of economic indicators and policy projections. After dipping to a several-week low at $2,017, gold regained momentum, surpassing $2,030. This rebound was bolstered by a drop in the yield of the 10-year US Treasury bonds below 4%. As a result, XAU/USD successfully mitigated a substantial part of its daily losses. Various...

Forex48_TradingAcademy

Analyzing GBP/USD, I note that the pair is experiencing some bearish pressure in the European session, trading slightly below 1.2700. The prevailing negative market mood is bolstering demand for the US Dollar, making it challenging for GBP/USD to maintain its position. Despite closing the previous week nearly unchanged, due to a late recovery on Friday, the pair's...

Forex48_TradingAcademy

On EUR/USD, there's noticeable buying interest, with the pair rebounding from multi-week lows at 1.0876 to settle around 1.0948, marking a modest 0.09% increase. During Thursday's European trading hours, EUR/USD gained ground but struggled to extend its recovery later in the day due to rising U.S. Treasury bond yields, supporting the Dollar (USD). The initial...

Forex48_TradingAcademy

As a trader monitoring the recent movements of the USD/JPY currency pair, I've observed several key factors affecting its dynamics: Japanese Yen Weakness: The Yen has shown a consistent decline against the US Dollar, reaching a three-week low. This trend reflects reduced expectations for a hawkish policy shift by the Bank of Japan (BoJ) in January. The absence of...

Forex48_TradingAcademy

The analysis gold price (XAU/USD) highlights several key factors influencing its market behavior. I will examine each element and assess its impact: Gold Price Movement: The gold price has increased, reaching a daily high above $2,060. This rise indicates strong investor interest, often triggered by economic uncertainty or the search for safe-haven...

Forex48_TradingAcademy

I've been closely tracking the recent dynamics of the USD/CAD pair. The exchange rate approached 1.3380, seemingly propelled by investors' apprehension about upcoming critical US labor market data. The Canadian Dollar (CAD) experienced a significant drop to a new weekly low against the US Dollar (USD), followed by an unexpected rally to a three-day peak. This...

Forex48_TradingAcademy

As a market analyst, I have recently observed the performance of the Nasdaq, the index of U.S. technology stocks, and my observations are quite significant. In the latest session, the index displayed a rather flat behavior, closing with a modest increase of 0.15%. This slight gain follows a start that was perfectly in line with the previous day's closing values...

Forex48_TradingAcademy

Observing the price of West Texas Intermediate (WTI), I notice an upward trend, with the price having retested the bullish trendline after breaking through the $74 level. Now, I expect a slight pullback towards $71.50 before a significant rebound towards $79 per barrel. However, from a macroeconomic perspective, I've also detected growing concerns about the...

Forex48_TradingAcademy

Analyzing the EUR/USD situation, we can observe a series of dynamic factors that have recently influenced its behavior. The EUR/USD's bullish move, having crossed 1.0950, was triggered by disappointing ISM Services PMI data after gathering liquidity below 1.09 following the NFP data. Currently, the pair maintains a defensive stance, trading in negative territory...

Forex48_TradingAcademy

Analyzing the GBP/USD pair, I observe that the British Pound is under pressure, trading around 1.2670 against the US Dollar during Friday's European session. This movement is primarily driven by investors' growing focus on the US Nonfarm Payrolls data. While the UK manufacturing sector continues to face pressures, it's noteworthy that the services sector exceeded...

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Analyzing the XAU/USD (Gold) firsthand, I observe an appeal as a safe haven on Fridays due to geopolitical risks and China's economic concerns. These factors, coupled with diminished expectations for aggressive policy easing by the Fed, seem to curb further gains for gold. Traders also appear hesitant to place aggressive bets before the US monthly jobs report. On...

Forex48_TradingAcademy

On EUR/USD, I am observing a complex interplay of economic indicators and market sentiment shaping its recent performance. Thursday saw the pair on a positive trajectory, trading around 1.0950. This movement is supported by a mix of data from the United States and Europe, reflecting the intricate nature of forex market dynamics. Starting from the European side,...

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Firstly, the Japanese Yen (JPY) is experiencing downward pressure for several reasons. Recent domestic data indicating the fastest contraction in manufacturing activity in 10 months, coupled with the effects of a significant earthquake, have negatively impacted the currency. This situation undermines the JPY as it reflects a weakening of economic prospects....

Forex48_TradingAcademy

Analyzing the movement of GBP/USD, we note its failure to capitalize on a modest recovery from the level near 1.2610, a nearly three-week low, as it fluctuated within a tight range during Thursday's Asian session. Currently, prices hover around the 1.2650 region, remaining largely unchanged for the day. The pressure stems from the widespread strength of the US...