I’m not going to draw any fancy lines on the chart but a glance at the monthly oil chart stands out because of the looming mirror image from April 2020, when prices went deeply negative only to leave a largely unchanged candle. This time it’s a different geopolitical event but much of the same look
Month: April 2022
Bank of America Global Research discusses USD/CAD technical outlook and adopts a sell-on-rallies bias through Q2. “We previously discussed a bias to fade USDCAD rallies in the 1.29s as wave 5 of the pattern was estimated to complete there. On March 8 spot traded to 1.2901 and turned lower. We weren’t quick enough to get
Putting money in store of value investments like gold, real estate, stocks and crypto helps curb inflation. As cash loses purchasing power over time, keeping cash leads to people losing their savings. This has prompted people to put their money in store of value investments such as gold, real estate, stocks and, now, crypto. Will
March 29: Gold prices were flat on Tuesday, as the dollar held firm at a three-week high hit in the previous session and yields climbed higher offsetting hopes for peace talks between Russia and Ukraine to be held this week. Spot gold was little changed at $1,925.71 per ounce by 0126 GMT. U.S. gold futures
Amid soaring inflation and worries about a looming recession, the U.S. economy added slightly fewer jobs than expected in March as the labor market grew increasingly tighter. Nonfarm payrolls expanded by 431,000 for the month, while the unemployment rate was 3.6%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been
GBP/USD Weekly Forecast: Little hope for bulls, as focus shifts to Fed minutes After charting a Doji candlestick in the previous week, sellers returned this week and left GBP/USD in close proximity to two-week lows of 1.3050. The divergent monetary policy outlooks between the US Fed and Bank of England (BOE) weighed heavily on the
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EURJPY consolidates between hour MA levels The EURJPY moved below its 100 hour MA for the first time since March 9th yesterday and moved down to test a swing area between 134.61 and 134.86, along with the rising 200 hour MA. The swing area was modestly broken, but the 200 hour MA could not and
Finance minister Nirmala Sitharaman on Tuesday said that the “full blown” war in Ukraine had impacted all countries like the Covid19 pandemic due to disruption in supply chains and that the unprecedented rise in global oil prices was a challenge. Sitharaman defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains
There were a couple of developments of last week to note. Firstly, US yield curve inverted for the first time since 2019. There is no reason to panic for the moment, but deeper inversion could set the tone in the risk markets ahead. Secondly, Euro ended as the strongest one, attempting to extend its near
The greenback remains buoyant in the session, weighing on the Japanese yen. Upbeat US macroeconomic data boost US Yields. The yield curve is inverted in 2s-10s and 5s-30s. USD/JPY Price Forecast: The uptrend remains intact and might exacerbate an upward move towards 125.00 if it reclaims 123.00. The USD/JPY recovers after dipping 350-pips in the
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The major indices are closing higher after a late session surge take the Dow and S&P toward the highs and reverse declines in the NASDAQ index. The major indices snapped a two day decline. The Russell 2000 index was the biggest gainer today. The final numbers are showing: Dow industrial average up 139.92 points or
US 2-year yields are up 15 basis points today while 30s are flat. It’s a sign that the market is worried about the Fed over-tightening into next year at a time when inflation is sorting itself out and the economic is slowing. 2s30s didn’t invert before the pandemic and haven’t since the financial crisis. What
Avalanche (AVAX) jumped 43.8% between March 14 and March 31 to a $97.50 daily close, which is the highest level since Jan. 5. This layer-1 scaling solution uses a proof-of-stake model and has amassed $9 billion in total value locked (TVL) deposited on the network’s smart contracts. AVAX token/USD at FTX. Source: TradingView Subnet adoption
NEW DELHI: Gold prices eased down on Friday, extending weekly losses, thanks to the strength in the US dollar and rising bond yields. Although a lack of progress in Russia and Ukraine peace talks capped losses. Investors further awaited the March US job data for policy tightening cues. Gold futures on MCX were trading down
Dollar is little changed after another set of solid job data. The greenback is trying to extend the near term recovery against Euro and Yen, but turns softer against Aussie. Euro also shrugs off much stronger than expected consumer inflation reading. Yen continues to consolidate in tight range, digesting recent losses. There is still prospect