Forex48_TradingAcademy

Forex48_TradingAcademy Updated 

The USD/CAD exchange rate is recovering from recent losses recorded in the previous session. The USD/CAD pair is trading higher near 1.3660 during Monday's Asian session. The decline in crude oil prices is putting pressure on the Canadian Dollar (CAD). Currently, oil prices are under pressure as investors await the meeting of the Organization of the Petroleum...

Forex48_TradingAcademy

Positive trend and multi-month peak: the price of gold has shown a positive trend for four consecutive days and is near a multi-month peak. on monday, the price surpassed the horizontal barrier of $2,008-2,010, reaching $2,018, the highest level since mid-may. Fed policy expectations: the positive momentum in gold is attributed to the belief that the federal...

Forex48_TradingAcademy Updated 

The EUR/USD is trading around the level of 1.0950 as the trading week approaches its conclusion, and markets anticipate an early drop in volumes, with US markets closing early for the weekend. The US Global Manufacturing PMI drops to 49.4 in October. US Purchasing Managers' Index (PMI) data spread on Friday, with a decline in the Manufacturing component and an...

Forex48_TradingAcademy

The price of gold has dropped from the six-month highs reached at $2,018 at the beginning of Monday's Asian session, consolidating well above the $2,000 threshold in anticipation of a critical week dominated by inflation data from the United States (US) and the Eurozone. Despite market optimism during the Thanksgiving week, risk-off flows returned in Monday's...

Forex48_TradingAcademy Updated 

Currently, I am closely monitoring the dynamics of the currency market between the Japanese yen (JPY) and the United States dollar (USD). I realize that the JPY is regaining ground against the USD, and this trend seems to be driven by expectations that the Bank of Japan (BoJ) is preparing to conclude its accommodative monetary policy. At the same time, the USD is...

Forex48_TradingAcademy Updated 

The price of Western Texas Intermediate (WTI) oil experienced a decrease to approximately $77.70 per barrel during Wednesday's Asian session, breaking a three-day upward trend. The downward pressure on crude oil prices is primarily attributed to the anticipation of a significant increase in crude oil inventories in the United States, with a substantial rise of...

Forex48_TradingAcademy

In Friday's session, the XAU/USD is gaining momentum, taking advantage of mixed S&P PMIs and a weakening US Dollar. In early November, the US private sector exhibited slight growth in economic activity, as reflected in the S&P Global Composite PMI, maintaining its position at 50.7. However, the Manufacturing PMI declined from 50.0 to 49.4 during the same period,...

Forex48_TradingAcademy

The GBP/USD is trading above 1.2550, recovering ground in the European session on Black Friday. The pair is underpinned by a weaker US Dollar and strong UK PMI data. However, a rebound in US Treasury bond yields and broader market sentiment could limit the upside potential of GBP/USD before US PMIs. Positive UK PMI data, indicating that the private sector returned...

Forex48_TradingAcademy Updated 

The EUR/USD recorded an increase on Thursday, reaching a daily high of 1.0930 and is now hovering around 1.0900, with limited trading volumes slowing down market momentum. U.S. markets are closed for Thanksgiving, with banks and market operators on pause. The Eurozone manufacturing PMI for November improved to 43.8, surpassing expectations of 43.4. Despite the...

Forex48_TradingAcademy

The price of gold (XAU/USD) experienced a slight retreat after approaching the $2,000 level, stabilizing just above $1,990 with modest gains, supported by a weaker US dollar. Further movements beyond $2,001 may face resistance around $2,006, but a breakthrough of $2,008-2,011 or the October peak would be positive for bullish traders, pushing the price towards...

Forex48_TradingAcademy

The GBP/USD closed positively for the third consecutive trading day on Tuesday, reaching its highest level since early September at 1.2560. Although it experienced a minor pullback on Wednesday, erasing a portion of the weekly gains, the pair managed to remain above the key level of 1.2500. Later in the session, British Finance Minister Jeremy Hunt is expected to...

Forex48_TradingAcademy

The medium-term implications of BTC/USD confirm the presence of an upward trend. However, the short-term scenario indicates a depletion of positive strength upon testing the identified resistance at 37,397, with the first support seen at 35,909. Expectations are for a short-term negative extension towards the level of 35,335. However, the price is anticipated to...

Forex48_TradingAcademy

The EUR/USD exchange rate experienced a break below 1.0900, reaching a low of 1,0849, driven by a stronger US Dollar in response to US economic data. However, losses have been reduced in the last few hours due to a waning momentum in the US Dollar attributed to an improved risk appetite. Currently, the exchange rate is in negative territory, with daily technical...

Forex48_TradingAcademy

Gold underwent a trend reversal, dropping below $2,000 in the second half of the day following positive US Jobless Claims data that pushed the yield on the 10-year US Treasury bond above 4.4%. This strengthened the US dollar and weighed on XAU/USD. Despite positive technical indicators on the daily chart, repeated failures to surpass $2,000 suggest caution for...

Forex48_TradingAcademy Updated 

The GBP/USD continues to rise for the third consecutive session, supported by the speech of the Bank of England (BoE) Governor Andrew Bailey at the Henry Plumb Memorial Lecture on Monday. The GBP/USD pair is trading around 1.2530 during Tuesday's Asian session, approaching 11-week highs. The GBP/USD was last seen trading near 1.2470, where the 38.2% Fibonacci...

Forex48_TradingAcademy

The EUR/USD reached a minimum at 1.0899 after the release of the FOMC minutes and then rose to 1.0920. The Fed's document held no surprises, and the US dollar consolidated gains after bouncing back from new monthly lows. Currently, the EUR/USD pair fluctuates around the 61.8% Fibonacci retracement level at 1.0959, facing static resistance. Despite being...

Forex48_TradingAcademy Updated 

The situation in the Middle East has impacted global markets, affecting commodities like the gold price on Comex. Despite optimism related to Chinese stimulus and expectations of the Federal Reserve maintaining interest rates, Comex gold faces challenges. The recent US CPI report indicated consumer inflation cooling faster than anticipated, while unemployment...

Forex48_TradingAcademy Updated 

The USD/JPY pair recorded an increase near the 150.20 area, recovering some of the previous losses caused by weaker-than-expected US inflation data. However, the US dollar is near its lowest level since September, reflecting expectations that the Federal Reserve has concluded its tightening policy. The BoJ may delay a shift from accommodative monetary policies...