<p>Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: </p> This article was written by Eamonn Sheridan at www.forexlive.com.
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NZDUSD tests support at swing level. Traders await price reversal or breakout
<p>The NZDUSD on Monday peaked right near the high from the last time the price was at the levels on July 31 near 0.6221 (see blue numbered circle on the chart below).</p><p>Willing sellers in the NZDUSD leaned against the level and have since pushed the price lower over the last two trading days. The low […]
What Deutsche Bank sees for interest rates and foreign exchange in 2024
<p>Analysts at Deutsche Bank don't see the Federal Reserve cutting rates until June 2024 but they see swift easing in the final five meetings of the year, with rates falling by a cumulative 175 basis points next year.</p><p>That's a highlight of "The House View" report released today.</p><p>The key
BofA: Preview for Wednesday's BOC policy meeting and CAD outlook
<p>Bank of America provides a preview for the upcoming Bank of Canada policy meeting on December 6 and its implications for the Canadian dollar. BofA expects the BOC to maintain its current policy rate, with potential implications for future rate cuts and CAD performance.</p><p>Key Points:</p><ul><li>BoC Expected
WTI crude oil falls for the fourth day, but holds the November low
<p>WTI crude oil settled down by 72-cents to $72.32 today.</p><p>It fell as low as $72.17, which was just a cent above the November low. The settlement today is the lowest since July.</p><p>It was a choppy session as oil bounced from the November low and got some support from higher Saudi-grade pricing and positive com
GBPUSD breaks below key support level, signaling potential downside
<p>In the morning kickstart video, I outline the GBPUSD swing area floor between 1.2589 and 1.2602. That floor has now been broken. The low price has reached 1.25767.</p><p>For traders looking for more downside, risk is now a move back above the 1.2602 level. Staying below that swing area there is room to roam. </p><p>
Factors Keeping Oil Prices Below $100 per Barrel
<p>Piracy thrives in the Red Sea, and the International Energy Agency predicts an oil deficit on the world market soon, but prices continue to fall.</p><p>In fact, there is chaos in geopolitics, not only in the Middle East and Eurasia but also in Latin America, <a href="https://www.tradingview.com/symbols/XAUUSD/" tar
High-ranking House Republicans set to bow out
<p>What's next for the two former House majority speakers?</p><p>Today, Rep. Patrick McHenry — who briefly served as speaker pro tempore during the House standoff — announced that he will retire at the end of this term in January 2025.</p><p>“I will be retiring from Congress at the end of my current te
The market is pricing in cuts too aggressively but it doesn't really matter
<p>The market is now pricing in 127 basis points in rate cuts from the Federal Reserve in 2023, with a 12% chance of cuts in January and rising to 71% at the March 20 meeting.</p><p>That's too aggressive based on the data and what the Fed has said already. It's not impossible for cuts to start […]
Bitcoin skyrockets above $43,000, as the renewed rally continues
<p>The price of bitcoin is continuing its run to the upside with an extension above the $43,000 level. The high price today has reached $44,011. The current price is trading at $43,353.</p><p>Technically the price has extended above – and away from – its 50% midpoint of the move down from the 2021 all-time high of [&he