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Chart Art: WTI Crude Oil (USOIL) Just Bounced From a Range Support. Now What?
A recovery in oil prices just pushed WTI crude oil higher from a key technical support zone. Will this lead to USOIL revisiting higher areas of interest?
Daily Broad Market Recap – October 31, 2024
Profit-taking was the name of the game on Thursday, as traders braced for top-tier U.S. data releases, the U.S. elections, and the end of a trading month.
Fed’s Target in Sight as Inflation Cools, Spending Holds Strong
Evidence of moderating inflation, strong consumer prospects, and better-than-expected weekly initial jobless claims data supported USD demand during the U.S. session.
Bank of Japan Holds Rates, Hints at Potential December Move
The Bank of Japan kept rates unchanged at 0.25% but surprised markets with a more hawkish tone, suggesting increased confidence in the economic outlook.
Chart Art: Is The U.S. Dollar Index Ready To Bounce Higher?
The U.S. dollar pulled back some of its weekly gains after an advance GDP reading disappointed. Are we looking at an opportunity to buy the dollar at lower levels?
Event Guide: U.S. Non-Farm Payrolls Report (October 2024)
Uncle Sam is about to drop its October labor market numbers! Will the results inspire repricings of interest rate cut expectations for the Fed?
Daily Broad Market Recap – October 30, 2024
It was another volatile day in the financial markets, as currencies and asset classes dealt with a handful of top-tier catalysts. Check out the latest headlines driving price action!
3 Kinds of Helpful Self-Dialogue for Forex Traders
For forex traders, there are three general types of self-talk that we usually engage in, each of which has both positive and negative implications to it.
Australia’s Q3 CPI Cools, but Sticky High Components May Keep RBA Hawkish
Australia’s inflation may have cooled in Q3, but components of the report point to an extended period of tight monetary policies. What’s up with that?!
FX Watch: NZD/JPY and CHF/JPY Breakout Plays on a Less Dovish BOJ Decision
Is there a chance the Bank of Japan (BOJ) can sound more upbeat in this week’s policy statement? Check out these potential breakouts setups I’m watching on NZD/JPY and CHF/JPY!
FX Watch: AUD/JPY And CHF/JPY’s Trend Continuation Setups In Case Of A Dovish BOJ Event
If Japan’s recent data are any clue, BOJ members may have less room to maintain their hawkish biases in October. Will this lead to more yen weakness?
Daily Broad Market Recap – October 29, 2024
Market correlations appeared to be out of sync in the latest trading sessions, as crude oil had its own thing going while U.S. equities reacted to earnings data.
Event Guide: BOJ Monetary Policy Statement (October 2024)
Will the BOJ sit on its hands for yet another meeting? Here’s what markets are expecting for the upcoming central bank announcement!
FX Watch: AUD/NZD and AUD/CHF Support Zones In Case Australia’s CPI Beats Estimates
Do you think Australia could post another hotter-than-expected CPI report and keep hawkish RBA expectations in play? Check out these potential support zones on AUD/NZD and AUD/CHF!
Chart Art: USD/CHF Is Facing A Major Resistance At .8700!
USD/CHF can’t seem to bust through a key technical resistance zone! Is it time to short the Greenback against its fellow safe haven?
FX Watch: AUD/USD And AUD/CAD To Make New Weekly Lows On Cooler AU CPI?
If Australia’s inflation eases as the markets expect, RBA members may be convinced to shift to a more dovish stance which could weigh on the Aussie.
Event Guide: Australia’s CPI Report (Q3 2024)
Will the upcoming Australian CPI release reinforce the RBA’s monetary policy stance? Or will the inflation numbers convince policymakers to change their bias in their next meeting?
Daily Broad Market Recap – October 28, 2024
The coast was clear in terms of top-tier economic releases on Monday, but there was no shortage of major moves among major asset classes. Check out the headlines that are driving price action.
Chart Art: QQQ (Nasdaq 100 ETF) Rising Wedge Pattern In Focus
The tech-heavy Nasdaq 100 ETF finds itself at a critical juncture just as tech giants prepare to release earnings! Will earnings fuel a sustained breakout above the rising wedge?
4 Ways to Limit Distractions for Home-Based Traders
Most home-based traders face more kinds of distractions that can take their eyes and mind off trading. Here are some tips on staying focused.
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