Forex48_TradingAcademy

Forex48_TradingAcademy

Fundamental Overview: Eurozone Inflation: Recent inflation data from the eurozone points toward expectations of an interest rate cut by the European Central Bank (ECB). This could weigh on the euro in the medium term, as lower interest rates generally reduce the currency's appeal by offering lower yields for investors. US Economic Data: The August jobs...

Forex48_TradingAcademy

Overview: On Tuesday, the Dollar Index (DXY) showed weak performance, failing to consolidate the partial recovery seen on Monday after last week's sharp decline. Although the dollar posted gains against major Asian currencies, such as the Japanese Yen (JPY) and the Korean Won (KRW), these gains were quickly erased during the US trading session. The return of a...

Forex48_TradingAcademy

General Overview: USD/JPY remains near 145.00 in the Asian session on Tuesday, despite a cautious market environment. The pair benefits from the recent rebound of the US Dollar and higher US Treasury yields. However, the divergence in monetary policies between the Federal Reserve (Fed) and the Bank of Japan (BoJ) continues to be a key factor that could...

Forex48_TradingAcademy

The GBP/USD pair is currently in a bullish phase, trading near its highest level in the past three weeks, just below the 1.2900 mark. This movement followed the easing of concerns about a broader conflict in the Middle East, after recent hostilities between Israel and Hezbollah in Lebanon did not escalate further. The reduction in geopolitical tensions has...

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Oil prices have surged on Monday, driven by escalating tensions in the Middle East and potential disruptions in Libyan oil production. The recent uptick in violence between Israel and Hezbollah, coupled with ongoing drone attacks and bombings, has severely diminished the prospects of a Gaza ceasefire deal, pushing oil prices higher. Adding fuel to the fire, Libya...

Forex48_TradingAcademy

The gold price (XAU/USD) has maintained a solid position above the psychological support level of $2,500 at the start of the week. This increase is supported by growing expectations that the US Federal Reserve will begin lowering borrowing costs in September. From a short-term technical perspective, the gold price still suggests upside risks, especially if...

Forex48_TradingAcademy

The EUR/USD exchange rate recorded a solid weekly performance, marking its fourth consecutive increase and reaching a new 2024 high in the 1.1180-1.1185 range. This upward movement was supported by the pronounced bearish bias affecting the US Dollar (USD), which helped push EUR/USD to new highs. Technical Resistance and Support Levels Resistance: The first...

Forex48_TradingAcademy

General Overview: The EUR/USD pair has recently lost ground in a short-term bullish recovery, testing new two-week lows near the 1.0800 level, as the movement's momentum has drained out ahead of updates on EU GDP data. The latest Federal Reserve interest rate decision is expected on Wednesday, with a new round of US Nonfarm Payrolls (NFP) scheduled for Friday. ...

Forex48_TradingAcademy

Current Context The GBP/USD pair settled at 1.2895 during the Asian trading hours on Thursday. The increasing possibility that the Bank of England (BoE) might start cutting interest rates in August has weakened the British Pound. In the absence of significant economic data releases from the UK, the GBP/USD pair will be influenced by the US Dollar (USD). Support...

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Current Price Movement: West Texas Intermediate (WTI) futures on the NYMEX have extended their downside, trading below $78.00. This decline is primarily driven by concerns over China's economic outlook and political uncertainty in the United States. Factors Influencing the Oil Price: China’s Economic Concerns: The People's Bank of China (PBoC) unexpectedly...

Forex48_TradingAcademy

EUR/USD stays below 1.0900: The pair has defended gains in a context of a weak US Dollar (USD), despite risk aversion, which has supported the EUR/USD exchange rate. Focus on Political and Macroeconomic Data: Attention remains on US political updates and mid-tier economic data from both the EU and the US for fresh trading impetus. Key Technical...

Forex48_TradingAcademy

Current Situation: The price of West Texas Intermediate (WTI) has experienced a slight decline due to the strengthening of the US dollar (USD), supported by rising yields. Currently, the price of WTI is around $81.20 per barrel during European hours on Thursday, after gaining ground in the Asian session due to a larger-than-expected drop in US crude oil...

Forex48_TradingAcademy

WTI crude oil prices have shown a downward trend in recent sessions, falling for three consecutive days. Currently, WTI stands around the $80.70 region, recording a daily loss of about 0.40%. Despite this decline, the price remains above the overnight swing low, suggesting a lack of conviction among sellers. Factors Influencing Prices Chinese Economy: Economic...

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Current Overview Gold (XAU/USD) has regained traction, trading in positive territory slightly above $2,420 after dipping towards $2,400 at the beginning of the week. Technical Analysis Daily Chart: The bullish outlook for XAU/USD remains strong despite a retreat from intraday highs. The daily chart shows that the pair is rallying well above bullish moving...

Forex48_TradingAcademy

Current Overview EUR/USD is defensive below 1.0900 in the Asian session on Monday, edging lower amid risk aversion following the shooting incident at a Trump rally. This event has bolstered the US Dollar due to its safe-haven appeal. The pair's focus remains on US politics and upcoming statements from Federal Reserve officials. Technical Analysis Support...

Forex48_TradingAcademy

Current Situation USD/JPY is holding at elevated levels near 161.00 during Asian trading on Tuesday. The high-risk sentiment, driven by expectations of a Fed rate cut, contributes to the pair's latest increase. All eyes are on Fed Chair Powell’s testimony for further indications on monetary policy. Recent Data and Technical Indicators Daily Chart: On...

Forex48_TradingAcademy

Current Situation The gold price (XAU/USD) registered a decline during the Asian session on Monday, following the news that the People’s Bank of China (PBoC) suspended gold purchases for the second consecutive month. This decision negatively impacted the gold price as China is the world's largest consumer of this precious metal. Recent Data Current Price: Gold...

Forex48_TradingAcademy

Current Situation EUR/USD has shown signs of losing traction but remains above the 1.0800 level after peaking above 1.0840, its highest in three weeks. Despite the US Nonfarm Payrolls (NFP) increasing more than expected in June, downward revisions for May and April have prevented the USD from gaining strength. Technical Indicators Relative Strength Index...