If you are interested in the world of finance, trading, and investing, you may have heard of the forex market. But what exactly is it and how does it work? In this article, we will explain the basics of the forex market, how to trade it, and what are the main differences between forex and stock market.
The forex market, also known as the foreign exchange market or FX market, is a global decentralized or over-the-counter (OTC) market where currencies are traded. This market determines the exchange rates for every currency in the world. It is the largest and most liquid financial market in the world, with an average daily trading volume of over $6 trillion.
The forex market operates 24 hours a day, five and a half days a week, across all time zones. Unlike the stock market, which has a physical location and specific trading hours, the forex market has no central location or exchange. Instead, it is composed of a network of computers and brokers that connect buyers and sellers of currencies.
The participants in the forex market include central banks, commercial banks, hedge funds, investment firms, corporations, and retail traders. They trade currencies for various purposes, such as hedging against currency risk, speculating on geopolitical events, diversifying portfolios, or facilitating international trade and tourism.
The forex market is divided into two levels: the interbank market and the retail market. The interbank market is where large banks and institutions trade currencies among themselves at wholesale prices. The retail market is where individuals and smaller institutions trade currencies through online platforms and brokers at retail prices.
To trade forex, you need to have access to a forex trading platform and a forex broker. A forex trading platform is a software application that allows you to execute trades, analyze charts, and access various tools and indicators. A forex broker is an intermediary that connects you to the forex market and charges you a fee or commission for each trade.
There are many types of forex trading platforms and brokers available in the market, so you need to do some research and compare their features, costs, reputation, and customer service before choosing one. Some of the most popular forex trading platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, NinjaTrader, and TradingView.
To start trading forex, you need to open an account with a forex broker and deposit some funds. Depending on your broker, you may be able to open different types of accounts, such as standard accounts, mini accounts, micro accounts, or demo accounts. Each account type has its own advantages and disadvantages, such as minimum deposit requirements, leverage ratios, spreads, commissions, and trading instruments.
Once you have an account with a broker and a platform installed on your device, you can start trading currencies. The basic idea of forex trading is to buy one currency and sell another at the same time. This is called a currency pair. For example, if you buy EUR/USD, you are buying euros and selling U.S. dollars.
The price of a currency pair is determined by the supply and demand of each currency in the market. The price fluctuates constantly according to various factors, such as economic data, political events, market sentiment, and technical analysis. Your goal as a forex trader is to predict whether the price of a currency pair will rise or fall in the future and execute trades accordingly.
To execute a trade, you need to enter the amount of money you want to trade (also known as lot size), the direction of the trade (buy or sell), and the price at which you want to enter or exit the trade (also known as entry price and exit price). You can also set stop-loss orders and take-profit orders to limit your losses or lock in your profits.
When you close a trade, you either make a profit or incur a loss depending on the difference between your entry price and exit price. The profit or loss is calculated by multiplying the number of pips (the smallest unit of price change) by the value of each pip (which depends on your lot size and exchange rate).
The forex market and the stock market are two of the most popular financial markets in the world. However, they have some significant differences that you should be aware of before trading them.
Aspect | Forex Trading | Stock Trading |
Size | Over $6 trillion daily transactions | Around $200 billion daily transactions |
Diversity | Few dozen major currency pairs | Thousands of stocks from various sectors |
Volatility | More volatile due to high leverage | Tends to be more stable and predictable |
Trading Hours | 24 hours a day, five and a half days a week | Specific trading hours, varies by country |
| Four major trading sessions (Sydney, Tokyo, |
|
| London, New York) with overlapping periods |
|
Costs | Lower costs (commissions, spreads, fees) | Higher costs (commissions, spreads, fees, |
| No central exchange or clearing house | taxes, regulations) |
In conclusion, the forex market is a fascinating and lucrative market that offers many opportunities for traders and investors of all levels. However, it also involves high risks and challenges that require proper education, preparation, and discipline. If you want to learn more about the forex market and how to trade it successfully, you can check out some of the best online courses, books, podcasts, and blogs on forex trading. Happy trading!
Leverage is a tool that allows forex traders to control a large amount of capital with a small amount of money.
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If you are new to forex trading, you might be wondering what order types are and how they can help you execute your trading strategy.
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Spread is the difference between the bid and ask prices of a currency pair. The bid price is the price at which you can sell the base currency, and the ask price is the price at which you can buy the base currency.
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Forex trading is the act of buying and selling currencies on the global market. Traders participate in this market to take advantage of fluctuations in exchange rates and make a profit.
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A pip is an acronym for "percentage in point" or "price interest point". It is the smallest unit of change in the exchange rate of a currency pair.
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The forex market, also known as the foreign exchange market or FX market, is a global decentralized or over-the-counter (OTC) market where currencies are traded.
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In today's market update, Wednesday delivers a flurry of intriguing developments, particularly amidst the ongoing U.S. earnings season.
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In today's analysis, let's delve into EURJPY, where a compelling buy signal emerges amidst a backdrop of bullish momentum.
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In the forex markets, a critical fight is playing out as various currency pairs involving the American dollar face significant resistance points.
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As we ease into Friday morning, we are still processing a significant batch of economic data from Japan, setting the tone for the day's trading activities.
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Since October 2022, the NZD/CAD currency pair has been showcasing a classic technical setup on the daily chart: a symmetric triangle pattern, marked by converging orange lines.
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Welcome to a pivotal week in the financial markets as we transition from April to May.
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As the sun rises on Tuesday morning, financial markets brace for a bustling European session, with a series of significant economic releases on the calendar that are set to shape trading activities throughout the day.
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In this week’s technical spotlight, we examine the British Pound against the Swiss Franc (GBP/CHF) on the weekly chart, in light of recent economic data from Switzerland.
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Welcome to your Thursday morning briefing, following a significant day in the financial markets shaped by the Federal Reserve's latest policy decisions and actions in the forex market.
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Welcome to Friday, traders! Today is not just another end to the week—it's Non-Farm Payroll (NFP) Friday, a day typically marked by heightened market volatility due to the release of crucial U.S. employment data.
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In today’s detailed examination of the Brent crude oil markets, we observe a pronounced bearish pattern that could influence future trading decisions.
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Hello traders, welcome to the first full trading week of May, where several intriguing market movements are unfolding.
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As we kick off the week, silver prices are on the rise, and there's a clear technical basis for this uptrend.
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In the short-term forex trading landscape, the Australian Dollar to Swiss Franc (AUD/CHF) presents an intriguing opportunity for traders.
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In today’s trading spotlight, we turn our attention to a promising setup in the GBP/USD currency pair, commonly referred to as Cable. As the European session draws to a close, a significant technical pattern has emerged, suggesting potential gains for traders attentive to bullish signals.
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Hello traders, welcome to Wednesday. Unlike the typical bustling activity, today's economic calendar is surprisingly sparse. However, this does not mean the markets are quiet, as comments from global financial leaders and movements across various sectors provide plenty of action.
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Baidu, often moving in tandem with Alibaba, has shown some interesting developments on its chart that suggest a potential investment opportunity. Like Alibaba, Baidu has been the subject of considerable trading interest, especially following its recent technical breakout.
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As we approach the close of the European trading session, the DAX index presents a noteworthy setup at a crucial juncture. Investors and traders looking at European markets should consider the implications of the current resistance level, which poses both an opportunity and a risk.
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Welcome to Thursday's market commentary, where significant financial events and market movements are shaping today's trading landscape.
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In the forex market, the USD/CHF pair is currently at a pivotal juncture, facing a resistance level that could define its short-term trajectory. This analysis delves into the dynamics at play and potential trading signals emerging from recent price movements.
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The American dollar to Canadian dollar (USD/CAD) pair presents an interesting setup that demands careful analysis. Traders need to evaluate the short-term bearish correction within the context of a prevailing long-term bullish trend.
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Embark on a journey into the dynamic and vast financial universe of the Forex market, where currencies are the stars around which traders orbit.
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In the intricate world of Forex trading, where charts and numbers perform a complex ballet of profits and losses, a truth often overshadowed by the quest for the perfect strategy emerges: the pivotal role of trading psychology.
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Welcome traders, to the final trading day of the week. Today, we explore a variety of economic indicators and market movements that have shaped the landscape from yesterday and will influence trading sessions today.
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In today’s technical analysis, we delve into Bitcoin’s current market dynamics as we conclude the week, highlighting a potential shift that could signal a change in the cryptocurrency's recent downward trend.
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Welcome to a new trading week, where early indicators set the tone and provide valuable insights into potential market trends. Here's a nuanced look at Monday’s financial movements and a preview of critical economic data expected later in the week.
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This week’s technical analysis of the Australian dollar to American dollar (AUD/USD) pair is particularly crucial as we approach significant economic data releases that could impact the currency pair’s movements.
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Welcome to another eventful Tuesday. As we navigate through today's varied market dynamics, let’s start with a look at the equity markets where notable patterns are beginning to emerge.
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In today's analysis, we delve into the EUR/CAD currency pair, which is currently at a pivotal juncture on the daily chart. The pair is testing a crucial resistance level at 1.477, a barrier that has persistently capped price advances since August 2023 and throughout 2024.
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In the world of commodities trading, Soybeans are showing a noteworthy pattern that warrants close attention. As previously discussed, a double bottom formation—a classical bullish chart pattern—has been identified.
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As we navigate through CPI Wednesday, the spotlight is firmly on the crucial U.S. inflation data anticipated to sway markets significantly. The focal point is the Core CPI expected at 0.3% for the month and 3.4% annually, with other noteworthy statistics including retail sales and the Empire State Manufacturing Index, which are also set to impact trading sentiments.
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As traders worldwide await the upcoming U.S. inflation data, the forex market holds its breath, particularly for pairs like the New Zealand dollar to American dollar (NZD/USD).
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In today's cryptocurrency market analysis, we turn our attention to Ethereum (ETH/USD), which is currently demonstrating resilience at a critical support level. The $2,860 mark, highlighted in green on the chart, has served as a reliable floor in February, April, and May.
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Welcome to today's comprehensive analysis of the global markets, following significant economic updates. Thursday's trading session is buzzing with reactions to several key economic indicators.
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Following the release of CPI data that showed inflation coming in slightly below expectations, the oil market has exhibited some intriguing technical formations that suggest a potential bullish trend
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Recently, I discussed the potential for a significant movement in the AUD/USD pair, which indeed came to fruition, propelled by recent economic data from the U.S. and Australia. Notably, the U.S. inflation numbers and Australian job data catalyzed a bullish breakout.
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Today’s market commentary starts with key corporate earnings and economic data releases. Walmart's better-than-expected earnings report on Thursday led to a notable 7% rise in its stock, reflecting positive sentiment despite mixed economic indicators.
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In today's technical analysis, we explore an intriguing trading opportunity in the USD/CHF pair, influenced by recent market movements. Following a rapid decline post-CPI data, the U.S. dollar is showing signs of recovery, and the Swiss franc is weakening, presenting a potential buy setup.
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Today's technical setup presents a promising opportunity for the British pound (GBP) against the Swiss franc (CHF). The CHF has been weakening, evidenced by a series of consecutive bullish candles in the GBP/CHF pair.
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Welcome in a new week of trading. As we step into a new week, the economic calendar is notably light today, offering a calm start. However, anticipation is building for Wednesday, when Nvidia is set to release its earnings report.
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In today's analysis, let's examine the EUR/CHF pair, which has recently provided a strong buy signal. This year has been outstanding for EUR/CHF, with the pair recovering from the lows of late last year to reach new yearly highs.
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Today, we're delving into the technical setup of Soybean, which is poised for a potentially significant buy signal. This analysis focuses on the long-term perspective using the weekly chart, highlighting an intriguing bullish scenario.
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Good morning, traders. Today's market starts with notable movements in the commodities sector. Yesterday, oil attempted to breach key resistance levels but failed, leading to lower trading prices today.
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Some time ago, I highlighted a bullish opportunity on Bitcoin, and it has indeed turned out to be a great call. Currently, Bitcoin is trading above $70,000, reflecting significant gains from the patterns we discussed.
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In the intricate dance of Forex trading, understanding market trends is akin to mastering the rhythm of the global economy. Trends in the Forex market are powerful indicators of the world’s economic heartbeat, reflecting the collective outcomes of geopolitical events, economic reports, and trader sentiment.
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Looking for reversals when indices are at all-time highs can be challenging as it goes against the trend, but current setups on the Dow Jones Industrial Average (DJIA) suggest potential bearish signals.
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Today’s market spotlight is on several key events and movements. In the commodities market, we see corrections in precious metals and oil, indicating a bearish trend. However, coffee and cocoa experienced sharp gains yesterday, showcasing mixed sentiment across different commodities.
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Yesterday, we discussed bearish candlestick formations on the Dow Jones, and today our focus shifts to a bearish setup on the DAX. On the H1 and H4 charts, the DAX is clearly forming a head and shoulders (H&S) pattern, marked with a white rectangle.
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In today's analysis, we focus on the Canadian dollar to Swiss franc (CAD/CHF) pair. The Canadian dollar is attempting to recover after a prolonged period of weakness, driven in part by the relatively weak performance of the Swiss franc in the midterm.
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Welcome on Thursday. The key news today revolves around NVIDIA's impressive earnings report from yesterday, which exceeded expectations with an EPS of 6.12 and $26 billion in revenue. Additionally, NVIDIA announced a stock split, further boosting market sentiment.
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In today's analysis, we focus on the NZD/USD pair, which has been confined to a sideways trend for the past few days. This consolidation phase is represented by a yellow rectangle on the chart.
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In today's technical analysis, we're focusing on Bitcoin, which has recently been behaving in a very technically predictable manner. On the hourly chart, Bitcoin has been forming and respecting several key technical patterns, offering clear trading signals along the way.
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Good morning, and welcome to Friday's market commentary. Today has started with significant developments, particularly the UK retail sales data, which came in at -2.3% against the expected -0.5%.
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Currently, the USD/CAD pair is exhibiting a very clear and promising technical setup. The pair has been in a bearish correction since mid-April, which saw the price decline to a confluence of significant support levels.
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Today, I want to draw your attention to the recent correction in the indices, particularly the Dow Jones (DJIA). This correction wasn't a surprise for us, as we have been discussing the potential for a downturn for some time.
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Welcome to the last full week of May's trading. Today's lower liquidity is due to the UK and US markets being closed for holidays. The main focus will be on the German IFO Business Climate index, expected at 90.4.
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In today's technical analysis, we focus on the USD/CHF pair, which appears to be gearing up for a significant move. The positive sentiment for this pair began on May 16th with a false bearish breakout to the downside, marked in yellow.
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Today, palladium is experiencing a significant upswing, but it's essential to understand the context of this movement. In the midterm and long term, palladium has been in a downtrend.
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Welcome on Tuesday. With American and British traders back, market liquidity should normalize. Despite their absence yesterday, the markets saw interesting moves.
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In today's technical analysis, we turn our attention to the impressive series of gains seen in the NZD/USD pair. The recent H4 charts are particularly striking, showing a consistent bullish trend since Friday, with almost every candle being bullish.
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Tuesday proved to be quite eventful, particularly for the indexes, which reversed sharply. The anticipated bullish bounce seems to be postponed as indexes continue to flash red, indicating that the correction may persist for some time.
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In today's technical piece, we focus on the New Zealand dollar to American dollar (NZD/USD) pair, which showed positive signs on Monday. The price initially broke out of a rectangle pattern, marked by yellow lines, signaling a potential bullish move. However, this breakout has proven to be false as the price has returned inside the rectangle, raising the risk of a bearish scenario.
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The correction on the Dow Jones index continues, with the index experiencing declines nearly every day since the beginning of the previous week. The index is now approaching key support levels, which could determine its next significant move. The price is nearing a long-term uptrend line marked in white and a horizontal support level at 38,600 points.
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Welcome to Thursday morning before the start of the European session. The market is showing signs of stress, with a substantial shift towards safe-haven assets. We observed volatile moves at the end of the Asian session.
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An interesting trading opportunity is emerging on the Australian dollar to American dollar (AUD/USD) pair. The market has shifted towards safe-haven assets, strengthening the US dollar. Technically, several factors are influencing this pair.
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Bearish moves are prevalent across the market as investors seek safe havens, leading to negative sentiment and increased volatility. In this environment, the situation on the Euro to American Dollar (EUR/USD), the most popular currency pair, is particularly noteworthy.
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Thursday was marked by significant market movements. Despite GDP from Switzerland exceeding expectations at 0.5% and US prelim GDP coming in at 1.3%, the pending home sales in the US disappointed with a drop of -7.7%.
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In today's analysis, I would like to discuss the mid-term situation on Sugar using the hourly chart. Sugar is in a clear downtrend, punctuated by technical bullish corrections. On the left side of the chart, we see a flag formation marked by orange lines, which broke to the downside.
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Hello traders, welcome to the first week of June! Today’s calendar features two important data points: the final Manufacturing PMI from the U.S., expected at 50.9, and the ISM Manufacturing PMI, expected at 49.8.
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In today's analysis, I want to draw your attention to Bitcoin, which is experiencing an interesting development. Since the beginning of May, Bitcoin's price has been climbing, punctuated by three sideways trends: a pennant, an ascending triangle, and now a larger pennant.
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In today's analysis, I want to focus on the EUR/CHF pair, which is currently influenced by crucial upcoming events. On Tuesday, we expect Swiss inflation data, and on Thursday, the Eurozone will announce its interest rate decision, where a 25 basis points cut is anticipated.
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Welcome to Tuesday, where we are already seeing interesting market moves from Monday's action. Starting with the fundamentals, Monday's ISM Manufacturing PMI came in lower than expected at 48.7, while the final Manufacturing PMI surprised to the upside at 51.3.
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A striking opportunity has emerged on the NZD/CAD pair, reflecting the strength of the New Zealand dollar and the weakness of the Canadian dollar. Currently, this pair is trading at its highest level since mid-2023.
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Key developments are currently unfolding on EUR/USD, the most popular currency pair. Yesterday was a bullish day for EUR/USD, marking a significant decline for the USD and a strong rally for the EUR.
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Hello traders, welcome on Wednesday. Today's calendar is quite packed. It began with lower-than-expected GDP from Australia, but this hasn't significantly impacted the Australian dollar.
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Today, we focus on the American dollar to Japanese yen, showcasing a significant technical development. The price is currently bouncing off the long-term uptrend line marked in white.
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Some time ago, we were analyzing the exotic pair American Dollar to Polish Złoty, available on our platform, which trades quite technically. Initially, the price was approaching a key downtrend line marked with white and a significant horizontal support marked in yellow.
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Good morning, traders! We’re starting the day with some groundbreaking news in the tech world. NVIDIA has surpassed Apple, making it the second most valued company globally, just behind Microsoft.
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In today's analysis, let's delve deeper into the current setup for platinum, which is showing a strong sell signal. During the latter half of May, platinum formed a pennant pattern, marked by orange lines, and broke to the downside, triggering a sell signal.
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In this analysis, let's revisit Sugar, which was previously in a pronounced downtrend. Initially, the price descended, forming a rectangle pattern marked in yellow, then continued its descent, creating a flag pattern marked in white.
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Good morning traders! Welcome to Friday, the first Friday of June, and a crucial day for market participants. Yesterday, Thursday, was a relatively quiet day but had its moments of significance.
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In today's technical analysis, let's dive into the American Dollar to Japanese Yen (USD/JPY) as we approach a critical juncture.
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Yesterday, we analyzed Platinum, and today I want to highlight Palladium, which presents an intriguing situation we've mentioned before.
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As we step into a new trading week, all eyes are set on the highly anticipated US inflation data and the interest rate decision, both slated for Wednesday. These pivotal events are expected to significantly influence market sentiment and trading activity throughout the week.
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This week promises to be pivotal for the American dollar, with significant data releases including inflation figures and an interest rate decision. The market is bracing for heightened volatility, which is also likely to impact the British pound, given a similarly busy economic calendar.
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Hello traders! Today, let’s delve into the recent movements of Ethereum. Back in May, Ethereum was showing promising signs as it bounced off a green support line, leading to a significant upswing.
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As we dive into Tuesday's market movements, the spotlight is on NVIDIA following its first day of trading post-split, closing with a modest gain just shy of 1%.
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In today's analysis, let's delve into Bitcoin's current technical landscape. Recently, Bitcoin has been heading lower, but this trend might soon find a pivot point. Over the past few weeks, Bitcoin has been trading within a well-defined rectangle pattern, marked in yellow.
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Good morning, traders. Welcome to Wednesday, a day set to bring high volatility, particularly for the dollar. Today, we await the crucial US inflation data, expected to hold steady at 3.4% year-over-year.
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Yesterday, we observed fascinating moves on the indices. Initially, prices collapsed sharply in the first half of the day. However, as American traders returned to the market, prices surged significantly higher. On the German DAX, a crucial horizontal support level at 18,390 points, which had held in May and early June, was breached.
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In today's analysis, I would like to draw your attention to the New Zealand dollar to Canadian dollar pair, where a very interesting bullish situation is unfolding. Looking at the bigger picture, a large symmetric triangle pattern marked with white lines is evident.
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Good morning traders, welcome to Thursday! Yesterday brought significant developments with a packed calendar, finally offering some clarity. Market participants awaited Wednesday's trading eagerly due to the U.S. inflation report and the FOMC statement, press conference, and rate decision.
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In this analysis, let's delve into the recent performance of WTI crude oil. Throughout June, WTI has shown impressive gains, climbing from $72 to $78 per barrel. This strong uptrend, however, encountered a significant obstacle yesterday as the price met a critical resistance at the red downtrend line. This line connects the lower highs since the beginning of April.
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Wednesday brought a rollercoaster of activity on the indices, driven by CPI data and an interest rate decision accompanied by a hawkish statement, significantly boosting momentum on both the dollar and indices. Let's delve into the Dow Jones aftermath.
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As we conclude the week, let’s delve into the significant events from Thursday and set our sights on what Friday holds for the markets.
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In today's analysis, let's focus on the interesting developments on the Cable, British Pound to American Dollar (GBP/USD). This week started positively for the Cable, especially on Wednesday when the dollar weakened, pushing the price higher.
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In today's analysis, we turn our attention to the DAX, which is currently experiencing a significant downturn. This sharp decline marks a notable departure from the flag pattern it has been adhering to, signified by green lines on the chart.
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Hello traders, welcome to the start of another busy week. This week promises to be engaging with three key interest rate decisions on the horizon.
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In today's analysis, I would like to draw your attention to the New Zealand dollar to Canadian dollar pair, where we are witnessing a classic reversal pattern. The chart clearly shows a triple top formation with the neckline marked in green.
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In today’s analysis, we turn our focus to the Euro to Canadian Dollar (EUR/CAD) pair, which is currently at a pivotal juncture. The pair is testing a crucial long-term uptrend line that has been in place since September 2023, marked by a green line on the chart.
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Hello traders, welcome to Tuesday! We start today with an important update from Australia, where the Reserve Bank of Australia (RBA) has kept interest rates steady at 4.35%, as expected.
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In today's technical analysis, let's turn our focus to the Euro to Japanese Yen (EUR/JPY) pair, which is showing positive momentum this week and edging closer to a significant buy signal.
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In this analysis, we focus on the Euro to British Pound (EUR/GBP), which recently experienced a significant collapse. While the pair has been in a long-term downtrend, the first week of June saw a dramatic drop as the price broke through a crucial horizontal support level, marked in orange.
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Welcome to Wednesday! Interestingly, this Wednesday is relatively quiet in terms of the macroeconomic calendar, as American traders are on holiday, resulting in no tier 1 data from the U.S.
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Today, we turn our focus to Palladium, which is currently pushing significantly higher and setting the stage for a potential buy signal. Recently, Palladium hit new long-term lows, marked by a yellow rectangle, indicating a false bearish breakout below the orange horizontal support.
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Today, let's delve into an intriguing setup on the FTSE, the London index. Since mid-May, the FTSE has been navigating a correction pattern, forming a wedge delineated by red lines.
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Welcome to Thursday! Today, American traders are back in the market, promising higher volatility. The day began with New Zealand's GDP slightly surpassing expectations. More recently, Switzerland surprised the market with a rate cut from 1.5% to 1.25%, contrary to expectations of unchanged rates.
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An intriguing setup is currently unfolding with the American dollar to Japanese yen (USD/JPY), as it attempts to break out of an ascending triangle pattern.
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Let's focus on an interesting setup in the British pound to Swiss franc (GBP/CHF) pair. The Swiss franc, after weeks of strengthening, is now weakening following a surprise interest rate cut in Switzerland.
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Good morning, traders! As we wrap up the week, let's dive into the key events from Thursday and look ahead to what Friday holds.
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Yesterday was a crucial day for the Euro to Canadian Dollar (EUR/CAD) as it broke a key support level, signaling a significant shift in market sentiment. This support, a long-term uptrend line marked in green, has been pivotal since September 2023, connecting important higher lows and helping the price climb in April and recently in June.
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Good morning, traders! As we kick off the last full trading week of June, let's dive into the key events and current market conditions. This week is packed with significant economic data releases.
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In today's technical analysis, let's delve into the Dow Jones Industrial Average (DJIA), which has recently moved back above a significant horizontal level at 39,060 points. This level, highlighted in yellow, has been pivotal since March, acting alternately as support and resistance.
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In today's analysis, let's revisit the FTSE, the London Index, which we discussed recently. Over the past few weeks, the price has been contained within a falling wedge pattern marked by red lines.
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Hello, welcome to Tuesday. Today, the market is experiencing some intriguing movements, and we have a busy calendar ahead. North America will be the focal point with the release of the Canadian CPI, which is expected to decrease from 0.5% to 0.3%. The day will end with the CB consumer confidence index, forecasted at 100.
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Let's delve into the EUR/CHF pair today. The long-term trend for this pair has been bearish, with the price receiving heavy blows. However, it appears that buyers are ready to step in and potentially reverse the trend.
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Let's shift our focus to Bitcoin, which has been experiencing extreme volatility recently. This heightened volatility began in March, and June has been particularly tough, with the price declining almost every day.
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Hello, welcome to Wednesday. Let's first look at what happened yesterday. The inflation number for Canada surprised to the upside, but it failed to significantly lift the Canadian dollar.
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Currently, silver is at a critical juncture. After a dismal session yesterday, the price broke the key long-term uptrend line, marked in white, adding to the bearish momentum and causing a sharp decline.
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Promising momentum is currently observed in the USD/JPY pair. Notably, we have two ascending triangles in succession. The first ascending triangle on the left led to a breakout to the upside, resulting in a substantial rise.
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Hello traders, and welcome to Thursday. Let’s dive into the current market happenings. Starting with U.S. earnings, Micron published better-than-expected earnings yesterday after market close, but traders weren't impressed, leading to an 8% drop in after-hours trading.
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A very intriguing situation is currently unfolding on EUR/USD. The pair has encountered a solid support level at 1.067, highlighted in orange. This support has proven resilient, holding firm on three notable occasions: June 14th, June 21st, and again today.
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In today's analysis, I would like to draw your attention to gold, as it is currently testing a crucial support level. Taking a step back to see the big picture, we observe a massive head and shoulders pattern marked in orange.
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Hello traders, welcome to Friday morning. Let's delve into the latest market developments and what's on the horizon for today.
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Let's dive into the fascinating developments with WTI oil. Today, we've seen new mid-term highs, reaching levels not observed since the end of April. This surge highlights the ongoing robust uptrend in the market, signaling strong buyer momentum.
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A very interesting and quite surprising development is currently unfolding in the sugar market. In mid-May, sugar hit new mid-term lows, followed by a corrective phase forming a flag pattern marked with orange lines.
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Hello traders, welcome to Monday. Today, we are digesting the results of the French parliamentary elections, where the National Rally won but with a smaller margin than anticipated by initial polls.
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A very interesting setup is currently unfolding on the Euro to British Pound (EUR/GBP). The Euro has been climbing higher, bolstered by the French election results, which showed that the National Rally did not receive as many votes as previously feared, thus boosting confidence in the Euro.
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Let's revisit the USD/PLN pair, which is showing some intriguing developments today. Following the French election results, European currencies, including the Polish złoty, are displaying notable strength.
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Welcome on Tuesday! The calendar is packed today, starting with the highly anticipated CPI Flash Estimate from the Eurozone, expected at 2.5%. Later, Jerome Powell will deliver a speech, and the day will end with JOLT's job openings, which are projected to be slightly below 8 million. Earlier, we received the monetary policy meeting minutes from the Reserve Bank of Australia.
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Today, let's revisit Ethereum, which we last analyzed in May when we issued a buy signal that worked out perfectly. However, since the end of May, Ethereum has entered a correction phase, forming a flag pattern marked by blue lines.
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Hello traders, welcome on Wednesday, the middle of the first week of trading in July. Yesterday brought two significant data points. The CPI flash estimate from the Eurozone came slightly higher than expected but surprisingly failed to lift the Euro, making it one of the weakest currencies by day's end.
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In today's analysis, I would like to discuss COCOA, a commodity we've highlighted several times on our portal. Recently, COCOA appears to be making a solid return to its bullish trend.
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Yesterday saw a very positive session for indexes, and this bullish sentiment appears to be continuing into this morning before the start of the European session. I want to highlight the FTSE index from London, which initially struggled yesterday but managed to recover impressively later in the day.
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Key developments are currently unfolding on Bitcoin as it approaches a critical horizontal support level. Over the past three days, Bitcoin has been trending significantly lower and is nearing the blue support zone around $57,000.
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Welcome to Thursday! As we approach the end of the week, several intriguing market movements are taking place. Let’s dive into the calendar first. Yesterday, we witnessed weaker-than-expected ADP non-farm employment numbers, and the ISM services PMIs surprisingly dipped below 50.
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Let's delve deeper into the current bullish scenario for sugar, which we highlighted recently. This commodity has been showing strong upward momentum due to two critical developments.
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Hello traders, welcome to Friday! Let's dive into the developments from Thursday and what's unfolding this Friday morning.
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In this piece, I want to delve into the Australian dollar versus the American dollar, which is currently trading at long-term highs. The breakout we've been anticipating has finally occurred.
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Silver is currently exhibiting strong bullish momentum, reaching new midterm highs. After a significant decline at the end of June, silver swiftly rebounded, defending the key horizontal support at 28.8, marked in yellow.
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Hello traders, welcome to Monday. We woke up to interesting developments as the leftist parties secured a surprising victory in the French elections.
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The week is off to an intriguing start with a promising setup on the American Dollar to Canadian Dollar (USD/CAD) pair. Last week's close left us with a bullish engulfing pattern on the daily chart, a classic signal indicating potential upward momentum.
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Ethereum is currently positioned in a very promising setup, reflecting an interesting opportunity in the cryptocurrency market. Both June and July have been tough months for cryptocurrencies, including Ethereum and Bitcoin, which are both testing key support levels.
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Hello traders, welcome on Tuesday! We start the day with a relatively empty calendar, with the main event being Jerome Powell’s testimony about monetary policy before the Senate Banking Committee later today.
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Let's analyze the current situation on gold, which is experiencing a significant bounce off a key resistance level at $2,368 per ounce.
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In today's analysis, let's focus on EURNZD, which is currently experiencing a notable rise. This move is crucial from a technical standpoint as the price is breaking out of a flag formation, marked by green lines.
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Welcome to Wednesday's market commentary. Today's calendar already delivered two crucial data points. Inflation from China came in lower than expected at 0.2%, missing the forecast of 0.4%.
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Let's delve into the current situation with Bitcoin, which is attempting to recover from a significant drop that began at the start of July. Bitcoin is now at a crucial juncture as it tests a key support level at 57,400 points, marked in blue.
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We are approaching a critical juncture on the EUR/AUD pair, where the price is constrained within a descending triangle pattern.
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Hello traders, welcome to Thursday's trading session. Today is shaping up to be quite eventful from a fundamental perspective. We've already received the UK GDP data, which came in stronger than expected at 0.4% instead of the forecasted 0.2%.
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In today's analysis, let's focus on Brent oil, which is currently presenting a very intriguing setup. Typically, I analyze WTI oil, but Brent's current market behavior is noteworthy. Since July 5th, Brent oil has been undergoing a correction, with today seeing further declines. A critical level to watch is around $84 per barrel, marked in blue.
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Hello traders, welcome to Friday. Let's dive into the market movements from Thursday and set the stage for today’s trading activities.
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In today's technical analysis, we turn our focus to palladium, which is currently experiencing a significant downward movement. The backdrop for this shift was yesterday's upswing, driven primarily by weaker-than-expected CPI data that weakened the dollar, thereby giving commodities a boost.
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Today, let's revisit the American Dollar to Polish Zloty (USD/PLN), an often overlooked but technically interesting currency pair. Despite its exotic nature, USD/PLN respects technical analysis remarkably well.
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Hello traders, welcome to Monday's market commentary. The big headline today is the assassination attempt on Donald Trump, which, while significant in the news cycle, seems to have minimal direct impact on financial markets. Over the weekend, we saw cryptocurrencies reacting with gains, potentially due to this event.
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A lot is currently happening on the British pound to Australian dollar (GBP/AUD), and the past few days have been particularly eventful. Last week, the pair broke out of a symmetric triangle marked with green lines, moving to the upside.
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Euro to British Pound is finally experiencing some bullish movement. For a prolonged period, the price was trending downward, but today, we observe a notable climb. Technically, a reverse head and shoulders formation has emerged on smaller timeframes, marked in orange.
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Hello traders, welcome to Tuesday’s market update. We have significant directional movements today, but let’s begin with the key events on the calendar. The focus is on North America, with Canadian inflation expected to rise by 0.1% month-on-month and U.S. retail sales anticipated to fall by 0.3%. These figures will be crucial for North American currencies.
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In today's analysis, we'll delve into Ethereum, which is undergoing a minor bearish correction within a broader uptrend. Earlier this month, Ethereum found solid support at $2,860, marked in green, which has proven to be a pivotal level.
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The American dollar to Japanese yen (USD/JPY) is currently experiencing a bullish correction, driven by a strong rebound from key technical supports. The price has bounced off the significant white uptrend line and the yellow horizontal support, which previously acted as resistances in April and May.
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Good morning, traders! Welcome to Wednesday's market commentary. The day began with significant news from New Zealand, where inflation came in lower than expected at 0.4%.
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The New Zealand Dollar to Canadian Dollar (NZD/CAD) pair is currently displaying a promising setup.
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A significant shift is occurring in the American Dollar to Japanese Yen (USD/JPY) pair, driven by a combination of a stronger Yen and a weakening Dollar.
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Thursday morning has been eventful, with significant movements across various markets. Yesterday, the Canadian, Australian, and American dollars weakened sharply, while the Japanese yen strengthened considerably.
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The American Dollar to Polish Zloty (USD/PLN) is currently showing a buy signal. Recently, the price experienced a false breakout below a key horizontal support, marked in yellow, but quickly rebounded above this level, now acting as a support.
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The recent interest rate decision from the ECB brought no changes, and the accompanying statement was mild, bringing little momentum or volatility.
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Good morning, traders! It’s Friday, and the market is buzzing with activity. Yesterday was quite eventful, highlighted by Australia's impressive job data, which exceeded expectations with a 50,000 increase in employment compared to the forecasted 20,000. This positive surprise gave a solid boost to the Australian Dollar.
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Yesterday and the first half of today's Asian session have been particularly challenging for gold and other precious metals. Gold has entered a correction phase, causing market participants to speculate on where this pullback might find support.
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The Australian Dollar (AUD) is having a rough day against the US Dollar (USD), marking its fifth consecutive bearish candle.
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Good morning, traders! Welcome to a new week. Today brings significant news: Joe Biden has officially dropped out of the presidential race, a move that many experts had anticipated, thus causing minimal market shock.
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The last two trading days of the previous week, Thursday and Friday, were especially tough for gold, with Friday seeing a continuous collapse in price throughout the trading hours. However, it now appears that gold has found support, suggesting the possibility of a bullish correction.
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EURUSD is approaching a pivotal moment after a challenging week, where it formed a notable shooting star candle on the weekly chart.
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Good morning! It’s Tuesday, and today's economic calendar is sparse, featuring only two significant US releases: existing home sales, expected to be just under 4 million, and the Richmond Manufacturing Index, forecasted at minus 7.
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The recent weakness in the New Zealand and Australian dollars has been quite significant, and it’s particularly evident in the New Zealand dollar to Canadian dollar pair. The trouble began in early June with a false breakout above the orange horizontal resistance, marked by a red rectangle.
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Silver is showing a very promising setup at the moment. The price is holding above a key horizontal support level around $28.77, marked in red. This support level is critical and is currently forming a bullish reversal pattern known as a triple bottom, highlighted in yellow.
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Good morning on this busy Wednesday! Today’s calendar is packed, with key events that are set to influence the markets. We started the day with PMI data from France, showing a mixed bag with services exceeding expectations and manufacturing falling short. We're still awaiting further PMI releases from the Eurozone, the UK, and the US.
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The Australian dollar to American dollar is currently experiencing a notable series of declines, marking the eighth consecutive bearish candle. Despite this prolonged negative trend, there are signs that this downward movement may soon pause.
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July has been a tough month for NZDJPY, reflecting the general weakness of the New Zealand dollar and the strength of the Japanese yen. This has resulted in a steep decline, with nearly every day showing bearish movement.
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Good morning on this Thursday! The markets are buzzing with significant movements. Starting with currencies, the Japanese yen is strengthening across the board, alongside other safe havens like the Swiss franc and the US dollar.
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The markets are bustling with activity. Notably, the Australian dollar to American dollar is experiencing its ninth consecutive bearish day, raising concerns of being oversold.
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London's FTSE 100 is currently experiencing a significant rally. Early in the European session, the index broke through a critical horizontal support level at 8120 points, leading to a sharp decline.
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Good morning, traders. Let's dive into the market movements from Thursday and what to expect on Friday.
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Sugar is currently showing a positive trend after a bullish session yesterday. On the H4 chart, the price bounced off the crucial grey horizontal support at $17.8, which is a positive signal for buyers.
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Euro to Japanese Yen is presenting an exceptional trading setup, signaling the end of a bearish correction. Remarkably, the past four corrections over the last two years have all measured 1100 pips, highlighted by white rectangles, showcasing a pattern of correction equality.
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Welcome to Monday! This week promises to be exciting with lots of volatility and market opportunities. The calendar is packed, setting the stage for a dynamic week.
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The American dollar to Japanese yen (USD/JPY) is at a critical juncture, testing key support and resistance levels.
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The American dollar to Canadian dollar (USD/CAD) is experiencing a significant bullish streak, with the ninth consecutive bullish candle forming on the daily chart.
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Good morning on this Tuesday! Let's dive into the day's macro calendar and market movements. Yesterday was quiet with no significant data releases, but today promises more action.
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Bitcoin is currently at a pivotal moment, testing a significant resistance level. Since March, the cryptocurrency has been oscillating within a wedge pattern, defined by white trend lines.
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The British Pound is experiencing a decline today, while the Swiss Franc is gaining strength. This dynamic is clearly illustrated in the British Pound to Swiss Franc (GBP/CHF) currency pair. Since mid-July, the pair has been in a downtrend.
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Welcome to a notably busy Wednesday, potentially one of the most eventful days of the summer. The calendar is brimming with critical data releases. We've already seen inflation figures from Australia, with Australia's inflation rate aligning with expectations at 3.8%.
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In today's technical analysis, let's delve into Silver, which is currently at a crucial juncture, testing a key horizontal resistance level marked in blue.
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A lot is happening with the Japanese Yen. Yesterday, rumors of an interest rate hike began circulating, which caused the Yen to gain strength. Today, the confirmation of the rate rise has significantly impacted the market, evident in the sharp drop of the Euro to Japanese Yen pair. This shift has altered the technical landscape.
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Good morning on this Thursday, coming off an exceptionally busy Wednesday. Let's start with a recap of yesterday’s events. The Japanese interest rate hike, hinted at the day before, came to fruition, significantly strengthening the yen.
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Bitcoin has been trading under the radar lately, but there's no shortage of significant developments. At the start of this week, the price tested a crucial resistance at the upper line of a wedge pattern, marked in white.
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The EUR/AUD pair, after a prolonged ascent, is now showing signs of weakening. A key bearish formation, marked with an orange rectangle, reveals a double top pattern.
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As the week draws to a close, commodities are facing significant challenges. Precious metals like gold and silver are the only ones performing relatively well. However, the broader commodities market is under pressure, with notable declines observed in various sectors.
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Good morning traders, and welcome to Friday’s market commentary. Let's dive into the events shaping the markets from Thursday and what to expect today.
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The Euro to British Pound (EUR/GBP) is at a critical point, making this an exciting time for traders. On the long-term chart, the pair is testing a key horizontal resistance level at 0.85, highlighted in green. This level was a robust support throughout 2023 and into the first half of 2024.
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Hello traders, welcome to this highly volatile Monday, kicking off what looks like an eventful week. The roots of today's market turbulence trace back to the previous weeks, particularly with the strengthening of the Japanese yen, which has compounded various market stresses.
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In today's analysis, let's delve into Ethereum's recent performance, which has mirrored the broader market's significant downturn. Cryptocurrencies, Ethereum included, have shown they cannot be considered safe havens in turbulent times.
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Today, we're focusing on the DAX, which experienced a significant collapse last week. Was this expected from a technical perspective? Indeed, it was.
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Welcome to Tuesday’s market commentary. Yesterday saw the release of ISM Services PMIs, which matched expectations.
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Some commodities are performing better than others, but platinum is notably struggling at the moment. Over the past three days, platinum has experienced a series of bearish days, with yesterday marking one of its most significant declines in recent times.
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Today marks a significant turnaround in the markets, suggesting that concerns about a recession might have been overblown. This bullish reversal is most evident in the indices, which are flashing green and striving to recover their pre-collapse levels.
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Strong reversals are evident throughout the market, including in pairs with the Japanese Yen, which are experiencing V-shaped recoveries this week.
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WTI Oil is joining the bullish trend currently sweeping the market. The reversal is not occurring randomly; it's happening at a significant level.
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Welcome to Thursday. We continue trading amid recession worries and bear market concerns. However, there has been a pause in this trend due to a rebound in the indices yesterday. Despite a bearish movement at the end of the American session, today's session is showing positivity, particularly in the European markets.
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Both the Euro and British Pound are experiencing corrections today. To determine which of these two European currencies is weaker, let's analyze the Euro to British Pound (EUR/GBP) pair.
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Silver is currently at a critical juncture, hovering near long-term lows but showing potential for a reversal. The key resistance level to watch is at 27.5, marked in yellow. The price action at this level will determine the direction for the next few days.
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Good morning, traders! As we head into the final trading day of the week, it’s time to reflect on Thursday’s market action and prepare for what lies ahead today.
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On Friday, let's take a closer look at the USD/CHF pair, a matchup of two classic safe-haven currencies. The pair has been following a well-defined downtrend recently, and this week, we’re seeing a bullish correction taking shape.
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A classic setup is currently unfolding on the Brent Oil chart, where we’ve seen significant gains this week. However, this rally may be facing some critical challenges, as the price is now testing several key resistance levels.
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Hello traders, and welcome to Monday! The week is starting off rather quietly, with no major swings in the markets following the weekend.
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This week is likely to provide some clarity on the direction of the indices and the future of the bullish reversal we witnessed last week.
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Good morning, and welcome to Tuesday. Today’s economic calendar is relatively light, with the key highlight being the UK’s employment rate, expected at 4.5%.
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In today’s technical analysis, we’re focusing on the Cable (GBP/USD) pair, which has been experiencing a strong upward momentum recently.
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Gold has been on a strong upward trajectory since the middle of last week, with Thursday, Friday, Monday, and Tuesday showing particularly strong gains.
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Welcome to Wednesday, a pivotal day for the markets. The spotlight is on the U.S. inflation report, following yesterday’s softer-than-expected producer inflation numbers, which weakened the American dollar.
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In today's technical analysis, let's focus on the EUR/AUD pair, which has been reacting to recent developments in the currency markets.
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A lot is unfolding on the British Pound to Swiss Franc (GBP/CHF) chart, and while it might look a bit complex with all the lines, I'll walk you through it because this setup holds a lot of potential.
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