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Euro at Crossroads as ECB Rate Hike Looms While Crude Ponders China’s Growth Outlook

Posted by By 25/10/2022Posted inForex
The Euro inched higher against the US Dollar in anticipation of higher European rates while China’s growth prospects have been mired by policy uncertainty. Where to for EUR/USD?
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USDCNH Soars, S&P 500 Diverges from Chinese Markets, USDJPY Falls Short Again

Posted by By 25/10/2022Posted inForex
A fundamentally packed week has already opened to significant volatility. Yet, the activity of the S&P 500 and Dollar have bowed to the volatility of the USDJPY and Chinese equity…
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S&P 500 and Nasdaq Composite Index Technical Outlook: A Minor Rebound?

Posted by By 25/10/2022Posted inForex
The S&P 500 is attempting to overcome crucial resistance, a break above which could point to a minor rebound. The Nasdaq Composite Index is not too far behind. What are…
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Copper Price Outlook: US PMI Miss, China Government Shakeup Bode Poorly for the Red Metal

Posted by By 25/10/2022Posted inForex
Copper prices are moving lower in Asia-Pacific trading as traders weigh contrasting economic data and a shakeup in President Xi Jinping’s newly formed government. Meanwhile, a potential breakout is on…
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Japanese Yen Subdued Against US Dollar After a Whippy Start to the Week

Posted by By 25/10/2022Posted inForex
The Japanese Yen consolidated on Tuesday after a hectic start to the week and following on from Friday where wide ranges dominated proceedings. Will the BoJ win in the USD/JPY…
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Gold Price Reverses Ahead of Yearly Low to Eye 50-Day SMA

Posted by By 25/10/2022Posted inForex
The price of gold may attempt to test the 50-Day SMA ($1691) as it reverses ahead of the yearly low ($1615).
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EUR/GBP IG Client Sentiment: Our data shows traders are now net-short EUR/GBP for the first time since Oct 12, 2022 when EUR/GBP traded near 0.87.

Posted by By 25/10/2022Posted inForex
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/GBP-bullish contrarian trading bias.
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British Pound Technical Outlook: GBP/USD Eyes Ascending Triangle as Retail Traders Go Long

Posted by By 25/10/2022Posted inForex
The British Pound is eyeing an Ascending Triangle chart formation, which could hint at the coming trend to come. What are key levels to watch as retail traders keep buying…
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Australian Dollar Trails Chinese Stocks Lower Despite Dow Jones Gains

Posted by By 24/10/2022Posted inForex
The Australian Dollar fell against the US Dollar despite a rosy Wall Street trading session. Fed bets eased after weak PMI numbers, bolstering equities, but Chinese stocks remain under intense…
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USD/JPY Susceptible to Larger Pullback as RSI Falls from Overbought Zone

Posted by By 24/10/2022Posted inForex
USD/JPY may face a larger pullback over the coming days as the Relative Strength Index (RSI) falls back from overbought territory.
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