ONLINE FOREX BROKER
2022-12-19 • Updated
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken. This means I can still uphold my bias for as long as the demand zone remains intact.
GBPUSD is still cycling around the rally-base-drop supply zone. My expectation is that price pushes down at least to the 1.20200 area - the final target being the marked line at 1.17458. It is also crucial to note that the marked supply zone doubles also as a PIVOT zone (or flip zone).
The marked zone between 1.06378 and 1.05732 constitutes the preferred point of entry. There is a visible PIVOT zone that also overlaps with the rally-base-drop supply zone from the first BoS (Break of Structure). As a result, we can expect price to drop from the area of entry with profit targets at; 1.04055, 1.03250, and finally 1.00835.
USDCAD is trading inside a descending channel on the Daily timeframe. The Fibonacci retracement level can also be seen aligning perfectly with the rally-base-drop supply zone which intersects with the trendline resistance of the descending channel. These confirmations indicate a high chance of a bearish rejection from the marked zone with targets at; 1.33650, 1.32500, and 1.30900
Personally, I expect to see USDJPY make a run for the highlighted zone around the 142 price area, however, the journey may not begin as plainly as it ought. Price could initially stagger back toward the demand zone before finally yielding the bull run.
The arrow indicates my bias and expectation based on the daily timeframe price reaction from the demand zone. The major target is 0.96460.
NZDUSD has reached a flip zone and is expected to dip lower toward the 100-Day Moving Average. It should also be noted that the marked supply zone is right within the vicinity of the 200-Day Moving Average.
It is important to understand that the trading of CFDs comes at risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.
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Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
Here's the scoop: The Bank of England (BOE) is set to accelerate the pace at which it shrinks its balance sheet, according to one of its deputy governors. Currently, the BOE is unwinding about £20 billion of quantitative easing every three months. The goal is to reduce the stock by around £80 billion per year through active sales and maturing assets.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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