Stay up-to-date on breaking Forex 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. European stocks are likely to open higher on Tuesday as the focus shifts to a two-day policy meeting of the U.S. 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.

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French stocks rose sharply on Tuesday and bond yields declined as markets held out hopes that the U.S. Federal DotBig broker Reserve will soften its hawkish stance after delivering a widely expected 75-bps rate hike on Wednesday.

Nahb Housing Market Index Is Bad And Could Get Even Worse

All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. HANOI – Vietnam is https://scopenew.com/dotbig-ltd-review-advantages-vs-disadvantages/ preparing to loosen its tight leash on the dong currency, including possibly widening its trading band with the U.S. dollar again, in order to…

forex news

Will the Fed consider an ECI reading of 1.2% to be “uncomfortably higher”? Also, the Fed’s favorite measure of inflation is back up to https://www.tdameritrade.com/investment-products/forex-trading.html levels not seen since March. Cardano shows an interesting situation that presents opportunities regardless of the breakout direction.

Economic Calendar

Australia’s central bank raised its benchmark interest rate on Tuesday, for a second consecutive meeting and repeated the guidance that rates will be lifted further based on incoming data. The policy board of the Reserve Bank of Australia, headed by Governor Philip Lowe, decided to lift the cash rate target by 25 basis points to 2.85 percent, the highest since 2013. In the preceding hour, NZDCAD has been an especially big https://scopenew.com/dotbig-ltd-review-advantages-vs-disadvantages/ mover in the forex market, rallying 17 pips (0.22%). Intraday trend traders may wish to note that GBPCAD has the strongest trend on the hourly timeframe over the last 20 price bars. Finally, it’s worth noting that NZDCAD has crossed its 20 hour moving average. A carry trade is a trading strategy that involves borrowing a low-yield currency and investing in a high-yielding asset to exploit the interest rate differential.

  • Or to simplify this another way, note that out of the past 10 days nzdchf’s price has gone up 8 them.
  • Alternatively, EUR changing by -0.84%, making it the worst performer of the bunch.
  • SHANGHAI – The yuan briefly touched a 1-1/2-week high against the dollar before giving back all the gains by midday on Thursday as Chinese cities tightened curbs against…
  • The company also raised its adjusted earnings and revenue guidance for the full-year 2022.

Further, the company announced $2.5 billion share buyback, which is intended to be executed prior to announcing its fourth-quarter results. 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. MOSCOW – The Russian rouble edged marginally lower against the dollar on Tuesday, as the end of a favourable month-end tax payments period drew close, while investors… By John McCrank NEW YORK – Sterling rallied to a six-week high on Tuesday on improved risk sentiment as Rishi Sunak became Britain’s prime minister, while the dollar… SHANGHAI – The yuan briefly touched a 1-1/2-week high against the dollar before giving back all the gains by midday on Thursday as Chinese cities tightened curbs against…