1mn with ForexSurvivor
GBPUSD Technical Inflation,
A quick 'inflation report' technical analysis let the sterling a stay between 16780 and 17030
Let’s detail: we observe trend reverence to the upsloping line with parameters the last 2 weeks of March till yesterday where sterling punched the trendline without breaking or triggering a close below.
The ex-es of inflation reports didn’t give up the uptrend, and by looking at Jun 2016 euro-sterling contract one can understand that interest rate hikes would come from BOE first, supporting additionally the currency, albeit what economists wander.
Today’s signal should fill 16835 for 16905, and then 17030. A close below 16780 negates the bullish stance but only temporarily.
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
GBPUSD Technical Inflation,
A quick 'inflation report' technical analysis let the sterling a stay between 16780 and 17030
Let’s detail: we observe trend reverence to the upsloping line with parameters the last 2 weeks of March till yesterday where sterling punched the trendline without breaking or triggering a close below.
The ex-es of inflation reports didn’t give up the uptrend, and by looking at Jun 2016 euro-sterling contract one can understand that interest rate hikes would come from BOE first, supporting additionally the currency, albeit what economists wander.
Today’s signal should fill 16835 for 16905, and then 17030. A close below 16780 negates the bullish stance but only temporarily.
***Rule to Remember: Gaining 20pips out of any free-signal is highly remarkable as such trades are not updated on time or ever.
Recommended Content
Editors’ Picks
AUD/USD on the backfoot, slides below 0.6700
The Australian Dollar registered losses of 0.37% against the US Dollar on Monday, amid rising US Treasury yields that underpinned the Greenback. An upbeat market sentiment could not boost the high-beta Aussie Dollar, which tumbled below the 0.6700 figure. As the Asian session begins, the AUD/USD trades around 0.6668.
EUR/USD eased from 1.0880 on Monday as looming rate differential weighs
EUR/USD eased back from 1.0880 on Monday as talking points from Fed officials weighed on otherwise quiet market flows. Broader markets are keenly anxious for signs of a rate cut from the Fed, but central planners continue to force down expectations with a tricky inflation outlook hobbling the Fed’s options on rate moves.
Gold price retreats after hitting record high at $2,450
Gold price extended its gains on Monday, yet it trades slightly below the all-time high of $2,450 reached during the Asian session amid increasing expectations that major central banks, including the Federal Reserve, might ease policy during 2024.
Digital asset weekly inflows jump over 600% following response to CPI report
Coinshares weekly report of digital asset flows shows that crypto assets witnessed more than a 600% increase in net inflows last week after US Consumer Price Index saw a softer-than-expected inflation increase.
Will the commodity boom last?
The gold and copper price both hit fresh record highs on Monday. The market is sensitive to these two metals because gold is considered an inflation hedge and a safe haven, and because copper is a metal that is linked to global growth.