Stay up-to-date on breaking as well as relevant financial developments. Price Action Support and Resistance While price action presents a somewhat objective framework for traders to work with, identifying workable zones of support and resistance requires a bit of subjectivity. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for NZDCHF, NZDUSD, NZDCAD, EURUSD, USDNOK, CADCHF, USDSEK, AUDCHF, USDCAD, GBPCHF, GBPUSD, AUDUSD and EURNZD.

That wasn’t a universal charge however and the immediate outlook is facing some immediate throttling in the form of FOMC anticipation. In this week’s edition, we are getting technical on the USD/CNH, Gold and S&P 500. Will the Fed consider an ECI Forex news reading of 1.2% to be “uncomfortably higher”? Also, the Fed’s favorite measure of inflation is back up to levels not seen since March. Cardano shows an interesting situation that presents opportunities regardless of the breakout direction.


Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs. USD/JPY may continue to retrace the decline from the monthly high (151.94) as the Federal Reserve is expected to maintain its existing approach in combating inflation.

  • The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies.
  • As with all such advisory services, past results are never a guarantee of future results.
  • By Georgina Lee and Samuel Shen HONG KONG/SHANGHAI – China’s digital yuan took the centre stage in the world’s largest cross-border central bank digital currency …
  • Intraday trend traders may wish to note that GBPCHF has the strongest trend on the hourly timeframe over the last 50 price bars.

BENGALURU – The Reserve Bank of India will launch the pilot for a central-bank-backed digital rupee for the wholesale segment on Nov. 1, it said on Monday,… By Gertrude Chavez-Dreyfuss NEW YORK – The dollar gained across the board on Monday, regaining some of the luster it lost earlier in the month, bolstered by expectations… NZD/USD Outlook Mired by Failure to Clear October Opening RangeNZD/US may struggle to retain the advance from earlier Forex this month if the exchange rate fails to clear the October high (0.5814). Indian shares opened on a positive note Tuesday despite mixed global cues. Or to simplify this another way, note that out of the past 10 days nzdchf’s price has gone up 8 them. Finally, instruments USDHKD and EURCAD are close to their 200 day moving average. And in terms of interesting streaks, NZDCHF has experienced upwards move in 8 of the prior ten trading days.

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By Peter Nurse – The U.S. dollar edged higher in early European trade Monday at the start of a pivotal week which includes several central bank policy-setting… A Guide Retail sales is used to analyze economic strength and can be implemented into both fundamental and technical trading strategies. SHANGHAI/BEIJING -China’s foreign exchange regulator testimonials sent a survey to some banks late on Monday asking them about their positioning in the currency market, three sources… In the preceding hour, USDZAR has has made the biggest move in the forex asset class, jumping 9 pips (0.48%). Intraday trend traders may wish to note that GBPCHF has the strongest trend on the hourly timeframe over the last 50 price bars.

forex news

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Gold price is holding onto the upswing from weekly lows ahead of the US ISM PMI. The US Dollar drops with Treasury yields, as risk-on market sentiment returns. Gold bulls remain cautious ahead of the all-important Fed decision on Wednesday.

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