ONLINE FOREX BROKER
2023-04-14 • Updated
Japan's new central bank governor, Kazuo Ueda, isn't planning drastic ultra-low interest rate policy changes. He's all about maintaining stability in prices and financial systems in the world's third-largest economy. And why not? According to Ueda, Japan's financial institutions aren't facing the same turmoil as their counterparts in the US and Europe. Plus, he's taking over from his predecessor, Haruhiko Kuroda, whose work he's determined to continue. On the charts, however, we have seen currencies like the Pounds and the Euro outperforming the Yen - can we expect any changes soon?
GBPJPY is trading within a rising channel while approaching a rally-base-drop supply zone. We also see the price action to the left presenting a strong case of an AMD (Accumulation-Manipulation-Distribution) pattern. I expect a bearish price reaction from the intersection of the trendline resistance and the supply zone.
Analysts’ Expectations:
Direction: Bearish
Target: 164.674
Invalidation: 168.900
In the case of CADJPY, we see a consolidation inside the descending channel, and the price is currently approaching a rally-base-drop supply zone which aligns perfectly with the trendline resistance of the channel. When we consider the fact that the price has only recently created a lower low after surpassing the previous low at 94.739; I believe there should be some bearish reaction from the supply zone.
Analysts’ Expectations:
Direction: Bearish
Target: 96.070
Invalidation: 100.948
EURJPY was a bit troublesome to look at. Too many wicks made it difficult to figure out the exact area of the supply zone. However, I've had to make do with the pivot zone on the weekly timeframe, which I confirmed based on the Fibonacci retracement levels. Based on this scarcity of multiple confluences, I would scan for a clear break of structure, in whatever direction, on the lower timeframes (4 Hours and Daily).
Analysts’ Expectations:
Direction: Bearish
Target: 141.997
Invalidation: 148.530
The market structure (lows and highs) on the USDJPY chart says one thing, whereas the momentum is visibly rebelling against that direction. I'm saying this because the price action following the most reaction from the trendline support failed to deliver impressive momentum. As a result, I have marked out the demand zone that intersects the trendline support, and I will be taking special interest in the reaction at or within that demand zone. This means a clear breakout in either a bullish or bearish direction would be my trade trigger.
Analysts’ Expectations:
Direction: Bullish
Target: 130.154
Invalidation: 136.100
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your 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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