Trading tips

[ad_1] Share: The Bank of Japan (BoJ) Governor Ueda said on Thursday that accommodative monetary policy and the effects of economic stimulus measures are supporting the Japanese economy, per Reuters. Key quotes “Japan’s economy to continue recovering moderately, supported mainly by accommodative financial conditions and effects of economic stimulus measures.” “Uncertainty over Japan’s economy extremely high.” “Closely watching the impact of financial, forex markets on the Japanese economy, prices.” “Will patiently continue monetary easing under YCC to support economic activity, the cycle of wage growth.” “We have not yet reached a situation in which we can achieve price target sustainably and stably and with sufficient certainty.” Market reaction At the time of writing, the USD/JPY pair is trading around 147.05, down 0.22% on the day. Bank of Japan FAQs The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate…    read more 

[ad_1] Number of traders net-short has decreased by 18.14% from last week. SYMBOL TRADING BIAS NET-LONG% NET-SHORT% CHANGE IN LONGS CHANGE IN SHORTS CHANGE IN OI GBP/USD BEARISH 50.04% 49.96% 5.25% Daily 17.04% Weekly -6.10% Daily -18.14% Weekly -0.74% Daily -3.65% Weekly of clients are net long. of clients are net short. Change in Longs Shorts OI Daily 5% -6% -1% Weekly 17% -18% -4% GBP/USD: Retail trader data shows 50.04% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Nov 24 when GBP/USD traded near 1.26, price has moved 0.30% lower since then. The number of traders net-long is 5.25% higher than yesterday and 17.04% higher from last week, while the number of traders net-short is 6.10% lower than yesterday and 18.14% lower from last week. We typically take a contrarian view to crowd sentiment,…    read more 

[ad_1] In the fast-paced world of financial markets, traders and investors are constantly on the lookout for tools and indicators that can help them make informed decisions. One such tool that has gained popularity among technical analysts is the Commodity Channel Index (CCI) MT4 indicator. In this article, we will delve into the intricacies of the CCI MT4 indicator, exploring its history, functionality, and practical applications. What is the Commodity Channel Index (CCI) Indicator? The Commodity Channel Index, commonly referred to as CCI, is a versatile technical indicator that was developed by Donald Lambert in 1980. Lambert initially designed this indicator for use in the commodity markets, hence the name. However, over the years, it has found extensive application in various financial markets, including stocks, forex, and cryptocurrencies. Understanding the CCI Formula To grasp the essence of the CCI indicator, it’s essential to understand the formula behind it. The CCI…    read more 

[ad_1] Share: Gold price holds positive ground near $2,025 amid lower US Treasury yields. The November ADP private payrolls climbed 103,000 vs. 106,000 prior, weaker than market expectations. A pessimistic China’s economic prospects could weigh on commodity sentiment and gold price. Traders await the Chinese Trade Data, US weekly Jobless Claims, due later on Thursday. Gold price (XAU/USD) manages to hold above the $2,000 psychological support level during the early Asian session on Thursday. The anticipation that the Federal Reserve (Fed) will cut the interest rate in March 2024 lends some support to the yellow metal. At press time, gold price is trading at $2,025, losing 0.03% on the day. Meanwhile, the gauge of the value of the USD against a weighted basket of currencies used by US trade partners, trades in positive territory for the third consecutive day, climbing above 104.15. However, the US Treasury yields edge…    read more 

[ad_1] CRUDE OIL PRICE OUTLOOK Crude oil prices (WTI) plunge into freefall, breaking below the psychological $70.00 level The technical outlook remains bearish for now This article looks at key oil’s key price thresholds to watch in the coming days Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: US Dollar Price Action Setups – USD/CAD Tepid After BoC Decision, USD/JPY Wavers Crude oil prices, as measured by WTI futures, plummeted on Wednesday, falling for the fourth straight session and reaching the lowest level since late June. Factoring in today’s precipitous decline (about 4%), WTI has lost nearly 9% of its value in December and has broken below the psychological $70.00 level, a bearish development from a technical standpoint. The recent selloff in energy markets hasn’t been driven by a singular catalyst but rather a…    read more 

[ad_1] We’ve got a simple technical setup heading to the watchlist, this time a longer-term setup developing on oil! Will the market reach a MAJOR area of support and will buyers defend it? WTI Crude Oil (CFD): Daily WTI Crude Oil Daily Chart by TradingView As always, remember that directional biases and volatility conditions for market price are typically driven by fundamentals.  And if you haven’t done your fundie homework on the oil yet, then it’s time to do some work by checking out the forex calendar and daily fundamental news for oil price drivers like inventory updates, OPEC news, and economic growth data! If you have done your fundies homework, then it’s time to move to the charts! Today, it’s going to be a very simple setup that every trader should have on the watchlist. On the Daily chart above, we can see oil bears have been pushing the…    read more 

[ad_1] Share: The EUR/USD is down a further 0.3% after Eurozone Retail Sales missed expectations. The Euro has steadily declined through the American market session as the US Dollar bids higher. Thursday sees European GDP before Friday’s US NFP print. The EUR/USD saw further downside on Wednesday, down a third of a percent on the day and extending the Euro’s backslide from last week’s peak of 1.1017 to two-and-a-third percent, closing in the red for six consecutive trading days. The Euro is the second-worst performing currency on the market Wednesday, shedding value against almost all other major currencies, driven by a worse-than-expected Eurozone Retail Sales print, though the bare miss is only pulling the plug on a drain that was already swirling. European Retail Sales missed the mark early Wednesday, printing at -1.2% for the year into October, rebounding from September’s -2.9% downturn but still in contraction territory…    read more 

[ad_1] Share: The highlight of the Asian session will be the release of China’s trade data for November. Australia will report Building Permits and trade data for October. Later in the day, the weekly Jobless Claims figures from the US will gather attention, along with comments from Bank of Canada Governor Tiff Macklem after Wednesday’s monetary policy decision. Here is what you need to know on Thursday, December 7: The US Dollar Index (DXY) rose for the third consecutive day, despite lower Treasury yields and weak US economic data. The ADP employment report showed an increase in private payrolls by 103,000, below the market consensus of 130,000. More job data is due on Thursday with Jobless Claims ahead of Friday’s Nonfarm Payrolls. The US 10-year yield fell to 4.12%, the lowest since September 1. Data from the Eurozone, including Retail Sales and German Factory Orders, came in below…    read more 

[ad_1] Share: GBP/USD trips down and extended its losses to three consecutive days; after diving below the 1.2700 figure, the Pound Sterling (GBP) had shed more than 1% of its value, during the week. At the time of writing, the major is trading at 1.2555, down 0.28% after hitting a daily high of 1.2613. Read More… Sterling’s recovery attempt from Tuesday’s low at 1.2575 has been capped at 1.2610 earlier on Wednesday, which has left the pair in noman;’s land awaiting the release of the US ADP employment report. Read More…   The GBP/USD pair snaps the two-day losing streak and holds above the 1.2600 support level during the Asian trading hours on Wednesday. The modest decline of the US Dollar (USD) creates a tailwind for the pair. GBP/USD currently trades near 1.2607, gaining 0.11% on the day. Read More…   [ad_2] Source link

[ad_1] Bitcoin takes a breather with key resistance resting at the $45k mark. Will Bitcoin experience a significant pullback as option markets hint at a push toward the $50k handle? [ad_2] Source link