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All the lower-level US reports scheduled for today have me looking at the US Dollar Index! Do you think green money will continue to fall compared to its major peers? Before we move on, ICYMI, yesterday’s watchlist, reviews CAD/JPY for recovery options ahead of CPI launch in Canada. Don’t forget to check if the game is still valid! And now for the stocks that have rocked the market over the last few trading sessions: New market titles and economic data: Inflation in Canada increased faster than expected, hitting a 31-year high of 6.7% in March. US existing home sales fell […]

A new trading week means we get another opportunity to trade major currency pairs like EUR/USD! Will the Euro extend its losses against the Dollar in the next trading session? Before we continue, ICYMI, I have listed the potential economic catalysts to look out for this week. Try it before you make your first trade today! And now for the stocks that have rocked the market over the last few trading sessions: New market titles and economic data: France’s Macron wins second term, beating Le Pen in first re-election win in 20 years Libya claims storage tanks were damaged in […]

Volatility has calmed down Tezos (XTZ) But traders are still hugging in a key area of ​​support. Eventually, will the bears be able to break out to the downside, complete a classic bearish technical pattern, and attract more bears?   XTZ/USD: Daily Tezos (XTZ) is the utility token for the blockchain (a smart contract platform that “self-develops”), and just like the rest of the crypto space, the token’s price has fallen dramatically in recent months after hitting all-time highs around $9.00. As we can see on the daily XTZ/USD chart above, the market is now trading around the $4.00 level, […]

Australia just released another stronger than expected jobs report. Could this be enough to stimulate a double top break for GBPAUD? Before we continue, yesterday’s watchlist from ICYMI reviewed the USDCAD trend channel ahead of the Canadian CPI release. Be sure to check if it’s still a valid trade! And now for the headlines that have rocked the markets in recent trading sessions:   Fresh headlines and economic data: The PBOC cut lending rates to boost credit supply and growth Australia’s economy added 64.8k jobs in December versus 60k forecast, 366.1k previously Australia’s unemployment rate improved to 4.2% from 4.6% […]

A solid range formation continues to hold on Cosmos (ATOM)! Will there be another near-term range reversal from resistance ahead or should traders watch for an upper range break?   ATOM/USD: 4 hours Cosmos (ATOM) has been an outlier so far in 2022 as one of the top tier crypto assets to avoid seeing red in January. It’s possible the bulls aren’t quite ready to give up their pockets just yet, especially with recent upgrades like an Ethereum bridge and the launch of an Ethereum Virtual Machine compatible protocol, Evmos. These upgrades will likely pull liquidity and apps into the […]

I have a few long term range setups on my radar for today and one of them looks like a big breakout. Here are the levels I’m watching closely: Looks like the range assist has held up really well here! EUR/AUD could be on course from here to test its range resistance at 1.5850 minor psychological level. Will it last? I’m getting mixed signals from technical indicators for now as the 100 SMA is below the 200 SMA while the stochastic is trending up. On the other hand, the gap between the moving averages is narrowing, so a bullish crossover […]

The yen rained pips earlier today. Can a short-term rebound keep USD/JPY from breaking a support level? Before we continue, yesterday’s watchlist from ICYMI looked at key GBP/AUD support level after Australia released its December jobs report. Be sure to check if it’s still a valid trade! And now for the headlines that have rocked the markets in recent trading sessions:   Fresh headlines and economic data: Philadelphia Federal Reserve manufacturing conditions rose 8 points to 23.2 in January. US initial jobless claims rise to 286k from 227k versus 227k expected US existing home sales broke a three-month winning streak […]

Are you still on track to reach your trading goals? Are your trading systems living up to their back-and-forward testing potential? If you’re frustrated with your performance, don’t worry. You may be forgetting a few basic truths about trading. Let’s examine some truths that not many traders will tell you, but which will help you in your trading journey:   1. It takes money to make money. While many traders have successfully started small, they have also had to deal with pitfalls associated with trading from small accounts. For example, trading oversized and overly leveraged positions carries greater risks of […]

Mixed price action for financial markets this week but the overall theme seems to be one of ‘risk aversion’ as safe haven currencies have consistently outperformed the risk-taking majors. As usual in this environment, the Japanese Yen and Swiss Franc took the top spot versus the rest of the FX majors, while Crypto and Equities took a backseat gold.   Notable news and economic updates: UK consumer prices rose 5.4% – the highest since March 1992 – versus 5.2% expected and 5.1% in November. Australia’s economy added 64.8k jobs in December versus 60k forecast, 366.1k previously Canadian inflation hits 30-year […]

How can you not start the daily and weekly recaps by not talking about the hits taken by US stocks? For the third day in a row, major indices close at or near their lows. The Dow and S&P had their worst week since October 20, 2020 (the Dow fell 1600 points or -4.57%). The S&P fell -5.68% this week. The Russell 2000 closed at its 52-week low. The NASDAQ index is down 15.1% from its all-time high reached in November and is trading at its lowest level since June 2021. On the week, the NASDAQ fell -7.53%. Technical levels […]