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Strategies
The GBPCAD currency pair has been advancing in a bullish sequence since late 2023, bouncing from an equal leg area. This sequence is part of a larger diagonal structure that began in October 2023. The primary degree wave ((1)) was completed on 22nd April 2024 at 1.6888, followed by wave (5) of ((1)) which quickly
The upcoming retail sales figures are expected to have a significant influence on the Federal Reserve’s rate path. A weaker-than-expected retail sales report could indicate a softer inflation outlook, potentially reducing the likelihood of a Fed rate hike in the near future. With economists forecasting a modest increase of 0.4% in April following a 0.7%
The Elliott Wave charts of Copper Futures HG_F are indicating impulsive bullish sequences in the cycle from the 3.6592 low. This has led us to favor long positions at this stage, as buyers have been appearing at key levels in the market. A recent 3-wave pattern emerged when buyers entered right at the equal legs
Ahead of the upcoming CPI numbers on 13 May 2024, investors are closely monitoring India’s retail inflation trends. Projections suggest that retail inflation is likely to remain steady at around 4.8% in April 2024, following a slight decline in March. There is a possibility that it could touch 5.0% year-on-year again, although estimates vary between
Gold price has witnessed a solid increase, surpassing the $2,320 mark against the US Dollar. The price action reveals a bullish trend as it broke a key descending channel with resistance at $2,315. The bulls were able to push the price above the $2,345 level and the 50-hour simple moving average, reaching as high as
Investors in the forex market should pay close attention to FOMC member chatter as it can greatly influence the direction of currency pairs like the AUD/USD. Members such as Michelle Bowman, Austan Goolsbee, and Michael Barr are scheduled to speak, and their comments on inflation and interest rate cuts can sway investor sentiment. The near-term
The recent decline in crude oil prices has been significant, with the price falling below the crucial $80.00 support level. This downward trend has been evident on the 4-hour chart of XTI/USD, where the price dipped below both the $80.50 and $80.00 support levels. Furthermore, the price has settled below the 200 simple moving average
The USD/JPY exchange rate is currently hovering around 154.784, but intervention risks are looming large. Masato Kanda recently issued a warning, stating that the government would step in if there are any speculative or disorderly movements in the foreign exchange markets. This has sparked concerns among investors, especially after the currency pair experienced a sharp
The optimism surrounding potential interest rate cuts in the United States has propelled Asian stocks to 15-month highs, with investors closely monitoring the situation. The MSCI’s broadest index of Asia-Pacific shares outside Japan saw a 0.3% increase at the onset of trading, indicating a positive sentiment among investors. However, Hong Kong shares experienced a slight
The International Monetary Fund (IMF) is scheduled to send a mission to Pakistan this month to discuss the possibility of a new program. This development comes as Pakistan embarks on its annual budget-making process for the upcoming financial year. With the completion of a short-term $3 billion program last month, which helped prevent a sovereign
The Gulf stock markets closed higher on Sunday with the Qatar index leading the way. This surge in stock prices was driven by the slowing U.S. jobs growth in April, which raised hopes among investors of early interest rate cuts by the U.S. Federal Reserve. The Labor Department’s employment report revealed that the U.S. economy