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  Bulls in the  EUR/USD  rise again in response to aggressive ECB rhetoric. This week, attention will focus on the red calendar events. Since the beginning of the week, EUR/USD has been trading close to a 9-month high as the market anticipates rate increases from the European Central Bank at the same time as it begins pricing in a less hawkish Federal Reserve. The EUR/USD surged higher and hit a new bull cycle high of 1.0927. Almost all potential Fed moves of 50 basis points were priced out in Monday’s trading, and the expected peak for rates has been slowly cut from the present 4.25% to 4.50% range to 4.75% to 5.0%. On the other hand, according to Reuters, ECB policymaker Peter Kazimir said on Monday that although  inflation  was lowering, it was not a cause to halt the rate of an interest rate increase. Read More... Click here to see the video...

  It is still possible that the Reserve Bank of Australia will raise interest rates again in February, as mentioned in their previous minutes. Money market prices are currently divided between a 0% increase and a 25bps increment, which could lead to more clarity on Wednesday’s inflation print. On a positive note for the Australian dollar, commodity prices are projected to remain high throughout the year largely due to China reopening and coal exports being directed toward European countries who have become increasingly concerned about Russian energy sources. Read More... EDGE-FOREX

  One of the most active forex trading periods is the New York session. The most liquid time of the day is when the US session crosses over with the London session of the foreign exchange market. WHEN DOES THE NEW YORK FOREX SESSION BEGIN? The FX session in New York starts at 8:00 AM ET and ends at 5:00 PM ET. When the US and London FX market sessions cross over, there is a “overlap.” The overlap is between 8:00 AM ET and 12:00 PM ET since the London Forex market session begins at 3:00 AM ET and ends at 12:00 PM ET. Read More... click here to see the video...

  Silver rises a little on Friday but doesn’t continue over $24.00. Bullish traders are favored by the technical setup, which also provides opportunities for further gains. The optimistic picture will be destroyed with a strong breach under trend-channel support. In the Asian session on Friday, silver makes gains on the previous day’s decent recovery from the $23.15 region or a two-week low. However, silver finds it difficult to acquire traction or maintain it above the $24.00 level, and it has already partially given up some of its small intraday gains. Read More... EDGE-FOREX Click here to see the video...

  Below the crucial resistance level of 19.00,  USD/MXN  bounces within a constrained range. The  S&P500  futures and US Treasury rates show signs of recovery, creating confusion in the market’s mindset. Before stopping its campaign of tightening policy, the Fed may announce two further rate increases of 25 basis points. In the early European session, the USD/MXN pair displayed a balanced auction below the round-level resistance of 19.00. As Federal Reserve (Fed) officials consistently provide aggressive commentary for the terminal rate and sustain higher interest rates to rein in the tenacious inflation, USD/MXN is anticipated to transcend the immediate obstacle. Read More... Click here to see the video...

  In this article, we have covered the highlights of global market news about the  GBP/USD, EUR/USD, NZD/USD  and  USD/JPY . GBP/USD declines to 1.2350 due to unfavorable UK retail sales and Fed worries UK Retail Sales fall short early on Friday, pushing the  GBP/USD  to a new intraday low at 1.2350. Recent hawkish remarks from Bank of England (BoE) Governor Andrew Bailey and optimistic JP Morgan predictions support the Cable pair. In contrast to market predictions of a 0.5% increase and -0.4% prior readings, UK retail sales for December showed a 1.0% MoM decrease. The GBP/USD declined following the vital statistics since the UK Retail Sales account for a large portion of the British Gross Domestic Product (GDP). Read More... EDGE-FOREX Click here to see the video...

  In this article, we have covered the highlights of global market news about the  EUR/USD, AUD/USD, USD/JPY  and  USD/INR. EUR/USD Price Analysis: It’s still probable to climb to the 1.0900 area. The  EUR/USD  continued its upward trend from Wednesday and retook the zone above the crucial 1.0800 level on Thursday. The pair is moving inside a range-bound theme ahead of the likely continuation of the rally. In opposition to that, the first point of resistance is the YTD high, which is at 1.0887. (January 18). Once passed, it may pave the way for a likely trip to the round level at 1.0900 very shortly. Read More... EDGE-FOREX Click here to see the video...

  Due to several variables,  USD/CAD  decreases for the second day. The Loonie is supported by rising  Crude Oil prices , which put pressure on the pair as USD selling has resumed. Traders looking for short-term opportunities now anticipate the US PPI and Retail Sales statistics. Following an early increase to the 1.3410 range, the USD/CAD pair draws new selling on Wednesday and falls for a second straight day. The continuous intraday decline, supported by several reasons, pushes spot prices to a new weekly low in the middle of the 1.3300s during the first part of the European session. Read More.. Click here to see the video...

  In this article, we have covered the highlights of global market news about the  EUR/USD, AUD/USD, USD/JPY  and   GBP/USD . EUR/USD will trade in the 1.12-1.15 range – Citigroup FX The  EUR/USD  pair is anticipated to trade in a range of 1.12-1.15, according to Citigroup strategists, who also justify their positive perspective. “China reopens at the same time that US inflation peaks and natural gas prices fall.” Represents a significant change in the market narrative and the start of a new FX regime. Renewed equity slump that would bolster the US dollar is a risk to consider. Technical analysis favors EUR/USD advances targeting a major Fib of 1.0938. Read More... EDGE-FOREX

  GBP/USD accepts bids to prolong the week’s beginning drop from a one-month high. UK Claimant Count Change decreased to 19.7K in December, while the unemployment rate has remained steady for the last three months through November. Despite disadvantages related to a labor strike and inflation worries, cable prices rise due to the US dollar’s inability to follow the yields’ recovery. Before the important Wednesday, traders might amuse themselves with second-tier US data and risk triggers. GBP/USD  records a two-day losing run as it retraces to its intraday low after early-Tuesday UK employment data. Despite this, the GBP/USD pair fell to 1.2169 before rising to 1.2190 at the time of publication. Read More... Click here to see the video....

  In this article, we have covered the highlights of global market news about the  USD/JPY, EUR/USD, USD/CAD  and  NZD/USD. USD/JPY is stable below 129.00, rising slightly on minor USD gains. Tuesday sees the  USD/JPY  pair edging upward for a second straight day after recovering overnight from its lowest point since late May. However, during the first part of the European session, spot prices declined a few ticks from the day high and held below the 129.00 level. Speculation that the Bank of Japan (BoJ) may make another adjustment to the yield control policy at its meeting on Wednesday continues to strengthen the Japanese Yen. A milder risk tone also supports the JPY’s standing as a relative haven and helps to limit the upward potential for the USD/JPY pair. However, due to some continued US Dollar purchasing, the fall is still muted, at least temporarily. Read More.. Click here to see the video...

  After a daily high of 0.9316,  USD/CHF  reversed previous gains. Positive US economic indicators hurt the dollar because the US Dollar is losing value. Price analysis for the USD/CHF: The pair would be exposed to more selling pressure on a break or daily closure below 0.9300. Although positive US statistics passed newswires, the USD/CHF is now trading below its initial price and has failed to break above the 20-day EMA and hold to 0.9300. Therefore, at the time of writing, the USD/CHF is trading at 0.9265. Read More... EDGE-FOREX Click here to see the video...

  The AUD/USD currency pair falls before the 0.7000 level and declines from a multi-month high achieved on Friday. Several variables work together to increase USD demand and provide downward pressure on the pair. Bulls are favored by the technical setup, which also offers opportunities for some dip-buying to arise. The AUD/USD pair dropped during the early North American session after reaching the psychological barrier of 0.7000, which was also its highest point since August 26. In the past hour, the pair has fallen to a new daily low in the vicinity of 0.6935, wiping out some of the previous day’s post-US CPI gains and ending a two-day winning run. Read More.. EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  USD/CNH, USD/JPY, AUD/USD  and  GBP/USD . USD/CNH: A sustained decline below 6.7000 is improbable, according to UOB A convincing break of 6.7000 in the  USD/CNH  remains improbable, according to economist Lee Sue Ann and market strategist Quek Ser Leang at UOB Group. “Yesterday, we indicated that USD ‘may break the main support at 6.7500,” according to the 24-hour outlook. We continued the next support at 6.7000 is unlikely to come into view. Our assessment was accurate since the USD fell to a low of 6.7250. Even if there has been a sizable decrease, the downward trend has not changed much. While the USD can fall below 7.0000, it is doubtful that it will do so consistently. Overall, the only way to tell whether the USD’s weakness has steadied is if it breaches 6.7620 (a minor resistance level at 6.7480). Read More... Click here to see the video...

  Following the publication of the US inflation data, gold prices reach a new multi-month high. The critical  US CPI data  reinforces wagers on more gradual Fed rate increases and strengthens the  XAU/USD . Bulls may be discouraged from making new wagers and capping gains for the metal due to the risk-on drive. Following the publication of the US consumer inflation data, the gold price reversed an early North American session decline to the $1,873 region and surged to a new eight-month high. The XAU/USD is now trading below the $1,900 level, up more than 1.0% daily, and will continue to rise. Read More... EDGE-FOREX

  The US CPI report is the next significant planned driver for the  USD/JPY  market. The price coiling may develop an inverted daily head and shoulders pattern. The USD/JPY seeks to rise amid a light schedule in the North American session but has encountered offers as US equities soar to new weekly highs. As of this writing, the USD/JPY exchange rate is back to flat for the day at 132.35, having traded between a low of 132.06 and a high of 132.87 for Tuesday and the whole week. Investors eagerly await the  US consumer price index , which has impacted the US Dollar and US Treasury rates in the most recent hours. Wall Street’s major indices are bid as a result. The 10-year yield is now down 1.66% and is approaching a 3.563% hourly support structure. If this were to persist, it would provide some support for the dollar as well and fend off USD/JPY bearish, allowing the cross to maintain its current level until Thursday’s CPI data, when traders hope to learn more about t...

  In this article, we have covered the highlights of global market news about the  EUR/USD, NZD/USD, USD/JPY  and  AUD/USD . EUR/USD might hit 1.09 as FX options market confidence grows – ING EUR/USD  is still slightly bid. According to ING analysts, the pair is expected to test resistance around 1.0785 and maybe 1.09. The options market becomes more optimistic. “Measures like the risk reversal, which compares the price of a 25 delta EUR/USD call option to a put option with a comparable delta, continue to trend in favour of EUR/USD upside.” Read More... EDGE-FOREX

  In this article, we have covered the highlights of global market news about the  EUR/USD, GBP/USD, AUD/USD  and  USD/CNH . EUR/USD might go over last May’s high of 1.0785 – ING Yesterday,  EUR/USD  was able to edge up to a new high. ING economists predict that the pair may attempt the peak from last May at 1.0785. The high cost of natural gas might hurt the Euro later in the year. “At this point, assuming today’s US event risks permit, we would like to support further EUR/USD gain. This can cause the EUR/USD to test the 1.0785 high from last May. Read More... EDGE-FOREX Click here to see the video...

  Over $24.00, silver finds it difficult to take advantage of its small intraday gains. The technical configuration favors bullish traders and enhances the likelihood of future gains. A decisive breach below the $23.00 level is required to disprove the optimistic view. On the opening day of a new week, silver builds on Friday’s ok-ish recovery from around the $23.00 level and adds some follow-through impetus. While retreating from a three-day high reached during the first part of the  European session , the white metal finds it difficult to gain acceptance above the $24.00 round number. Read More... Click here to see the video...

  In this article, we have covered the highlights of global market news about the  AUD/USD, GBP/USD, USD/JPY  and  EUR/USD . AUD/USD: Look for more gains now around 0.6950 – UOB The  AUD/USD  pair may rise to the 0.6950 area in the following weeks due to the persistent bullish bias, according to UOB Group economists Lee Sue Ann and Quek Ser Leang. 24-hour view: “We anticipated a decline in the Australian dollar last Friday, but we thought it was unlikely it would test the support level of 0.6700. The Australian dollar then temporarily fell to 0.6722 before rapidly rising to a high of 0.6886. AUD may increase to 0.6920 in the future. The next barrier at 0.6950 is unlikely to be challenged due to the overbought circumstances. Support may be found at 0.6820, then 0.6850. Read More... EDGE-FOREX Click here to see the video....

  The technical outlook for gold (XAU/USD): Bullish over $1,850 Prices of gold recovered after overcoming a significant technical obstacle. Bulls in the  XAU/USD  market aim for Fibonacci resistance from the last advance of over $1,880. For the time being, psychological support and resistance help to influence price activity. (XAU) rises on dollar uncertainty; can bulls reach $1,880? After pushing prices back above $1,850, gold prices concluded the week, holding onto an expected 2.6% increase. Economic data added to the pressure on the precious metal as fundamentals continued to influence sentiment. Prices increased after the XAU/USD saw an astounding 15% comeback from the November low ($1618.3) as the market was bullish to start the new year. Read  More... EDGE-FOREX

  Price analysis for the USD/JPY: Likely to be strongly bearish below 133.00. Despite the tight labor market, the  US Nonfarm Payrolls  statistics for December reduced the value of the US dollar. The softening of the average hourly wage led to expectations that the Federal Reserve would act dovish during its meeting in February. The US economic statistics, although good, put pressure on the US Dollar, causing the USD/JPY to battle at the 200-day Exponential Moving Average (EMA) around 134.82 and fall below the 134.00 level. This contributed to a loss of 100 pip in the major. The USD/JPY is now trading at 132.81, down from its initial price by 0.44%. According to figures released by the US Department of Labor on Friday, Nonfarm Payrolls climbed by 223K in December, above predictions of 200K. While average hourly wages increased 4.6%, below the market forecast of 5.0%, the unemployment rate decreased to 3.5% YoY, which pleased Fed policymakers who saw wage pressures as a ba...

  In this article, we have covered the highlights of global market news about the  USD/CNH, USD/JPY, EUR/USD  and  AUD/USD . USD/CNH: Solid support is aligned around 6.8400 – UOB For the time being, more losses in  USD/CNH  shouldn’t be ruled out, according to UOB Group economists Lee Sue Ann and Quek Ser Leang. 24-hour perspective: “Yesterday, we said that the US Dollar is expected to move lower but is unlikely to breach the support at 6.8700. Our prediction came true as the US Dollar fell to a low of 6.8714 before rising. Although the US Dollar may go below 6.8700 today, the next support, around 6.8560, is unlikely to be in sight. The underlying tone still seems weak. A violation of 6.9000 (a minor resistance level at 6.8900) would signal an easing of the slight downward pressure now present. Read More... EDGE-FOREX

Despite a minor increase in the US dollar, the price of  gold  retreated from a seven-month high. The likelihood of Fed rate rises of a lower magnitude supports the metal to some extent. A milder risk tone constraints the downside for the safe-haven XAU/USD. On Thursday, the gold price experienced some selling pressure and ended a four-day gaining run, reaching its highest level since June 2022, around the $1,865 level reached the day before. The XAU/USD is now trading in the $1,846–1,845 range, down around 0.50% for the day, and is still on the back foot going into the North American session. Read More... FOREX MANAGED ACCOUNT Click here to see the video...

In this article, we have covered the highlights of global market news about the  NZD/USD, GBP/USD, EUR/USD  and  USD/CAD. NZD/USD mixed outlook: UOB The forecast for  NZD/USD  remains mixed, with the pair trading between 0.6200 and 0.6380 for the time being, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. “NZD regained the majority of its previous day’s severe decline as it rocketed to 0.6353 before relaxing to settle higher by 0.70%,” the 24-hour perspective said (0.6291). The price movements are probably part of a consolidation phase, and the NZD will probably trade today between 0.6255 and 0.6355. Read More...   EDGE-FOREX Click here to see the video...

  In a positive mindset, the  AUD/USD  is rising again over 0.6750. Risk flows and negative Treasury rates constrain the US Dollar bulls. Australian currency pair watches US ISM Manufacturing PMI and Fed Minutes. With risk flows returning to Asia on Wednesday, the AUD/USD is firming up to retake the 0.6800 barriers and getting a new bid around about 0.6720. The market is feeling better due to expectations for dovish Federal Reserve (Fed) Minutes, which support the higher-yielding Australian Dollar at the cost of the safe-haven US Dollar. The outlook for the Dollar is also being harmed by the resurgent weakening in  US Treasury rates  throughout the curve. The benchmark 10-year US rate is down 1.50% daily to 3.735%, while the US Dollar Index has fallen from levels close to 104.70 to 104.50 in Asia thus far. Read More.. Click here to see the video...

  In this article, we have covered the highlights of global market news about the  EUR/USD, USD/JPY, USD/CAD  and  GBP/USD. EUR/USD speeds up advances and refocuses 1.0600 The euro regains some equilibrium as Wednesday’s sharp decline to the 1.0520/15 zone against the Dollar is mostly forgotten. After three straight weeks of gains,  EUR/USD  enters the first week of 2019 on the back foot, but Wednesday’s recovery focuses on a possible test or breach of the 1.0600 barriers. The pair have been in a better mood due to the knee-jerk reaction in the Dollar that followed the significant rebound earlier in the week. Read More... EDGE-FOREX Click here to see the video...

  In this article, we have covered the highlights of global market news about the  USD/JPY ,  AUD/USD, USD/CAD  and  EUR/USD. USD/JPY recovers from multi-month lows and trades over 130.00. After reaching its lowest point since late May at 129.50 during Asian trading hours,  USD/JPY  abruptly changed course and soared to 131.00. However, the pair lost its bullish vigor, and at 130.40, it was last spotted losing 0.25% on the day. The rapid increase in the US dollar’s value in the European morning helped the pair on Tuesday. The Japanese yen strengthened earlier in the day as anticipation for a hawkish Bank of Japan (BOJ) policy change increased. The BOJ was reportedly contemplating boosting its inflation projections for 2023 and 2024 in January, according to Nikkei’s story over the weekend. Read More... EDGE-FOREX Click here to see the video...

  Seesawing at a seven-month high, the  EUR/USD  breaks a two-day winning run. Prices are held in check by one-week-old prior resistance even though purchasers seem to be losing pace. Additional negative filters come from the 50-HMA and the rising trend line from December 22. During Monday’s weak trading session, the previous bull run shows weariness in the EUR/USD pair. This causes the leading currency pair to reverse the upward breach of the previous resistance line that served as support for the previous day. Read More... Click here to see the video...

  In this article, we have covered the highlights of global market news about the  GBP/USD ,  USD/CAD, USD/JPY  and  NZD/USD. GBP/USD Price Analysis: The pair breaks a two-day rally as the 200-day EMA tests buyers. Despite the market’s lack of activity early on Monday, the  GBP/USD  maintains its intraday low at 1.2070 on the first losing day in three. In doing so, the Cable pair reverses direction from the 200-day EMA to call back the bears. The negative MACD indications also give the GBP/USD sellers optimism. Read More... EDGE-FOREX

As investors avoid adding to their holdings throughout the holiday season,  USD/CAD  shows a sideways shape at 1.3550. As the general public anticipates inflation to be over 3% in CY 2023, the Federal Reserve may maintain its hawkish stance. Following the publication of the increases to the weekly initial jobless claims, the US dollar came under selling pressure. Given the lack of significant economic events, USD/CAD is expected to maintain its rangebound structure. In the early European session, USD/CAD showed a sideways performance as investors hesitated to add to their holdings before the long weekend. The USD/CAD pair is doing poorly in a constrained range of around 1.3550 due to uncertainty in the global market’s inflation forecasts for CY 2023. Read More...   EDGE-FOREX Click here to see the video....