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⤴️⤴️EURUSD BULLISH MOMENTUM Fullbacks)🚀🚀🚀The dollar edger higher on Friday but is set to end 2023 with its first yearly loss since 2020 against the euro and a basket of currencies, on expectations the U.S. Federal Reserve will begin cutting rates next year as inflation moderates. Questions for 2024 will be when the Fed begins cuts, and whether the first rate reduction is made to avoid over-tightening as inflation drops, or due to slowing U.S. economic growth. With markets already pricing in aggressive cuts, debate is also focused on how much further the dollar is likely to fall. “We’ve already weakened quite a bit in anticipation of a Fed cut cycle to come,” said Brad Bechtel, global head of FX at Jefferies in New York. The dollar's decline accelerated after the Fed adopted an unexpectedly dovish tone and forecast 75 basis points in rate reductions for 2024 at its December policy meeting. Markets are pricing in even more aggressive cuts, with the first reduction seen likely in March and 158 basis points in cuts expected by year-end. (FEDWATCH) The Fed’s tone contrasted with other major central banks, including the European Central Bank (ECB) and Bank of England (BoE), which maintained they will hold rates higher for longer. But “I do think they will capitulate. European growth is just struggling too much and inflation’s coming down relatively fast … same in the U.K. in many ways,” said Bechtel. “If all three central banks are cutting, it's going to be very hard for the dollar to weaken significantly." Against a basket of currencies, the greenback on Friday gained 0.13% to 101.32 DXY , rising from a five-month trough of 100.61 reached on Thursday. It is on track to lose 2.10% this year and is down 4.62% this quarter, the worst performance in a year. The euro EURUSD dipped 0.19% to $1.1040, hovering just below a five-month peak of $1.11395 reached on Thursday. It is heading for a 3.04% gain for the year, its first positive year since 2020. "Markets are looking for a cut earlier in the U.S. and are less certain that the European Central Bank will cut as quickly, so that's why the dollar is very soft," said Niels Christensen, chief analyst at Nordea. "We also have positive risk appetite which is another negative for the dollar. Going into 2024, the soft dollar will be a theme towards the March central bank meetings," Christensen added. Policymakers at the ECB and the BoE did not signal any imminent rate cuts at their policy meetings this month, but traders are pricing in 162 bps of cuts by the ECB next year, with the probability of two cuts by April. The BoE is also expected to cut rates by 148 bps in 2024. "While it feels like the market might have moved too far too fast, the facts are that growth is non-existent in Europe, slowing in the U.S., and inflation is falling globally," said CJ Cowan, portfolio manager at Quilter Investors. "The ECB is famously slow to change policy course so almost two cuts priced by April looks aggressive, even if it might be the right thing to do." Sterling GBPUSD rose 0.08% to $1.2745 and was on track for a 5.39%
Long
by SMC-Trading-Point
🚀⤴️⤴️GOLD FULLBACK 2100)⏫️hello trader’s what do you think about gold) gold fullbacks support levels 2047) Gold if breakoutdown and this weekend looks better news CPI trader’s 2047) support levels and gold mowing fullback 2100)resistance levels)my position 2047) lounges 2100) key levels 2080 key levels 2090 key levels 2100 Gold finished the year at $2,063 an ounce, climbing more than 13% in 2023 for its first annual gain in three years, and logging a new record high within the year mostly supported by expectations that the major central banks will start cutting interest rates early next year. After implementing an aggressive rate-hiking cycle that started in early 2022, the US Federal Reserve is now expected to begin easing as soon as next March amid signs that inflation in the US is cooling. Moreover, heightened geopolitical tensions in the Middle East and the prospect of a prolonged war in Gaza spurred safe-haven demand for gold.
FOREXCOM:XAUUSDLong
by SMC-Trading-Point
⬆️🖼️. DOLLAR Index trade line bullish momentum analysis)⤴️⤴️Hello trader’s what do you think about DXY index )? traders are looking 👀 a 4H tame frame 🖼️ trade line dxy hitting support levels and trade line now dxy bak up ⬆️ 102.381 to 102.573) The dollar index fell to below 101 on Wednesday, the lowest in five months, as markets continued to position according to signs of cooling US inflation, and consequently, incoming rate cuts from the Federal Reserve. Data released on Friday showed that the core PCE index, the Fed’s preferred inflation gauge, fell to 3.2% in November from 3.4% in October, coming in below forecasts of 3.3%. Markets are now pricing in around a 90% chance that the central bank may start its cutting cycle by March. The dollar traded close to multi-month lows against other major currencies, but has been gaining ground versus the Chinese yuan amid expectations that the People’s Bank of China would lower key rates next
TVC:DXYLong
by SMC-Trading-Point
⤴️⤴️GPBUSD) bullish on the market) analysis)🖼️🚀The dollar crept higher on the first trading day of the year as attention turned to economic data this week that may provide clues on the Federal Reserve's next moves, while bitcoin surged ahead of $45,000 for the first time since April 2022. The dollar index DXY , which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains. It was last at 101.44, up 0.059%, as investors weighed the prospect of the Fed cutting rates this year. The dollar's ascent weighed on the Japanese yen USDJPY the most, with the Asian currency down 0.35% at 141.36 per dollar, having slid 7% in 2023. Rescue teams in Japan on Tuesday struggled to reach isolated areas hit by a powerful earthquake on New Year's Day, with reports of more than 20 people dead in a disaster that toppled buildings and knocked out power to thousands of homes. Markets are now pricing in an 86% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated in the year. "The question is when and how fast rate cuts will be delivered," Marc Chandler, chief market strategist at Bannockburn Global Forex, said in a note. "Moderating price pressures and weaker growth impulses have seen the pendulum of market sentiment swing dramatically from the 'higher for longer' mantra of most of last year to pricing in aggressive easing" from central banks, Chandler said. The focus now switches to a slew of economic data due this week, including the data on job openings and nonfarm payrolls. Minutes from the last Fed meeting in December are scheduled for release on Thursday and will provide insight into the central bankers' thinking around rate cuts this year. "The positive sentiment from end-2023 may roll over into this week as all eyes turn to the U.S. jobs report on Friday," said Nicholas Chia, macro strategist at Standard Chartered. At its December policy meeting, the Fed adopted an unexpectedly dovish tone and forecast 75 basis points in rate reductions for 2024. That contrasted with other major central banks, including the European Central Bank (ECB) and Bank of England (BoE), which reiterated they will hold rates higher for longer. Still, traders are pricing in 158 bps of cuts by the ECB this year, while the BoE is also expected to cut rates by 144 bps in 2024. The euro EURUSD was down 0.13% to $1.103, inching away from the five-month peak of $1.11395 it touched last week. The single currency gained 3% last year, its first yearly gain since 2020. Sterling GBPUSD was last at $1.2729, up 0.05% on the day, having clocked its strongest performance last year since 2017 with a 5% gain, although a weakening economy and election uncertainty make a repeat performance unlikely. Elsewhere, the Australian dollar AUDUSD was up 0.35% at $0.68335. The New Zealand dollar NZDUSD was little changed at $0.63155. The crypto world started the year with a bang, with bitcoin BTCUSD touching a 21-month peak of $45,532 on rising expectations that the U.S. Securities and Exchange Commission would soon approve exchange-traded spot bitcoin funds.
Long
by SMC-Trading-Point
⤵️ EURAUD) ifberakout) bearish) analysis)⤵️⤵️hello trader’s what do you think about Euraud)? The Australian and New Zealand dollars rested near five-month peaks on Friday and bonds extended their blistering rally as a surprisingly soft reading on U.S. inflation stoked wagers for rapid-fire rate cuts globally next year. The Aussie crested at $0.6803 AUDUSD , having climbed 1% the previous session to clear the $0.6800 barrier for the first time since late July. The break opened the way to the next bull target at the double top of $0.6895/6900. The kiwi dollar reached $0.6298 NZDUSD after rising 0.7% on Thursday, taking it closer to the July top of $0.6412. Risk appetite was whetted by an unexpected downward revision to the U.S. third-quarter core personal consumption expenditures (PCE) price index to an annualised 2.0%, matching the Federal Reserve's target. That stirred speculation the November reading of core PCE inflation due later Friday would also surprise on the downside, leading futures to imply an 82% chance the Fed would cut rates as soon as March. (FEDWATCH) Markets, in turn, ramped up expectations for local easing with futures now fully priced for a June rate cut by the Reserve Bank of Australia (RBA), even though the central bank still has a tightening bias. (0#RBAWATCH) The Reserve Bank of New Zealand (RBNZ) is now seen certain to ease in May, when it recently warned that no cuts were possible until 2025. (0#RBNZWATCH) Australia's November consumer price measure is not due until the end of January but again analysts see risks to the downside. "We expect annual growth in the monthly CPI indicator to slow to 4.1% y/y in November from 4.9% y/y in October," said Catherine Birch, a senior economist at ANZ. "This would be the weakest annual inflation on the monthly measure since January 2022." "We expect inflation, on a quarter-on-quarter basis, to be annualising within the RBA's 2-3% target band in the second half of 2024." Bond markets are acting like all this is a done deal and have taken three-year yields (AU3YT=RR) down to its lowest since early June at 3.667%. That breached a major chart barrier at 3.69% and was a world away from a 4.48% top hit in November. Yields on 10-year bonds AU10Y fell to a four-month trough of 4.04%, down from its November peak of 4.999%. In New Zealand, the key two-year swap rate (NZDSM3NB2Y=) hit its lowest since February at 4.680%, opening a huge gap to the overnight cash rate of 5.5%.
Short
by SMC-Trading-Point
SPX: A Dangerous Resistance. 👀• The SPX is correcting today, back to its 21 ema in the 1h chart, as usual; • In the daily chart, there’s still some upside left, as we have yet to retest the 4,100 area, but the index is quite far from its 21 ema in this time frame; • If it loses the 21 ema in the 1h chart, or does a clear bearish structure, then it might correct to the 21 ema in the daily chart, around the 3,800; • As long as the trend remains bullish in the 1h chart, hardly a sharper correction will materialize; • Therefore, let’s pay attention to the 21 ema (1h), and on how the index will react from here, as it is near the resistance at 4,100; • So far, no clear top sign. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my daily analyses!
Editors' picks
SP:SPX
by Nathan_The_Finance_Hydra
13
Agoric (BLD) & JavaScript Agoric price today is $0.48 with a 24hour trading volume of $721,242. BLD price is up 7.7% in the last 24 hours and more than 100% gain less than a month The Agoric crypto economy is the smart contract platform that can quickly bring millions of developers to the DeFi frontier. Agoric’s Hardened JavaScript makes blockchain programming safe and accessible to the 17+ million JavaScript developers. Hardened JavaScript provides a safe, stable environment that developers need in order to build, deploy, and operate sophisticated Dapps, NFTs, and DeFi markets. The Agoric public blockchain, part of the interchain ecosystem, is designed to mitigate novel risks posed by decentralized financial systems built upon Proof of Stake (PoS) consensus. Moreover, the Agoric programming model, supported by our native market infrastructure, will enable the formation of a cryptoeconomic standard library with the same exponential composability that led to the explosive growth of the Node.js, React.js, and other JavaScript ecosystems. I start buying at 0.28 and while I taking some profit my next targets are 0.53,0.55 and 0.59
Long
by moonypto
GODREJCP Long Buy Idea🏆GOFREJCP new buying opportunity in daily TF.🔥 Stock supertrend beakout . & traded near automated trendline support area. same big trend is bullish & after short selling one buying movement start in this stock. Daily RSI level is Above 60 & lower timeframe RSI level above 60 bullish🟢. same time Weekly & monthly RSI is near 53.so one chance to upside movement. so if stock again touch near 865 level buy it small & Stoploss is near 845 & target is 🎯957 watchout stock chart for better understand technical analysis.
NSE:GODREJCPLong
by sniperbull4my
Investors are waiting for new cluesXAUUSD prices have been pushed up several times to reach new highs while also encountering new resistance, and are now in a retracement phase. More investors are waiting for new clues to judge the future price trend, and it is important to know that holding physical gold does not bring us more interest income. Recently the dollar is not strong anymore and the market pattern seems to have changed, so the market situation is now more complex and the analysis of its trend needs more consideration, which makes trading decisions more difficult. Subscribe and Share
OANDA:XAUUSD
by Super_B_XinR
3
TSLA: We nailed the TOP! Is there a BOTTOM now?• We nailed the previous top on TSLA, thanks to the dual-confirmation of the Bearish Flag (1h) + Resistance at $198 (D). The link to my previous analysis on TSLA is below this post, as usual; • Now TSLA just hit its technical support at $177, as expected. There’s not a single bullish reaction on it yet, but if we see one, the timing would be perfect; • By losing the support at the red line, TSLA would just resume the bearish sentiment, and the next target would be something around $150 - $130; • The volume is very low, and TSLA is just very weak at the moment. What if it reacts and triggers a reversal? The $198 would be the next target, as this is our main resistance to break in the short-term. I’ll keep you updated on this, as usual. Remember to follow me to keep in touch with my analyses!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
2
Fear is growing and investors are selling at a lossWhen BTCUSD fell to $15,597, analysts were turning to technical charts to try to find the next price path. the FTX crash was just the trigger, and the cryptocurrency market has been influenced by U.S. interest rates. cryptocurrencies are risky assets by nature, and their sharp decline has a lot to do with expectations that the Federal Reserve will continue to raise interest rates. Shorting at the right price level may make you rich. Subscribe and Share
INDEX:BTCUSDShort
by Super_B_XinR
2
It seems no one is safe from the crypto liquidity crunch.However, it doesn't look like inflows have cooled off. On the contrary, the indicators actually seem to be climbing even more. This indicates that Ether continues to be under selling pressure, which suggests that the current levels may not be the bottom and that the value of the cryptocurrency may fall further in the future. Price levels $1190-1267 bearish Stop Loss $1400-1450 Target X "Exchange Inflows" is a measure of the total amount of Ether entering wallets on centralized exchanges. There are two versions of this metric, the first records inflows specifically to derivatives exchanges, and the other records transfers to spot exchanges only. In general, an increase in derivatives inflows leads to increased market volatility because it means that new futures positions are opening up and leverage is increasing. A spike in spot inflows could have a direct bearish impact on the price of cryptocurrencies, as investors typically deposit these exchanges for sale.
BITFINEX:ETHUSDShort
by Super_B_XinR