Merlin Rothfeld
Online Trading Academy
Markets continued their bounce on Monday, racing toward all time highs… again! Master trader and instructor Jeff Manson joins Merlin to offer his thoughts on where the markets may be headed in the short term. Jeff uses cycles to offer suggestions on market direction, and the hinge on Tuesday’s trading action! Jeff also offers us some insight into his upcoming “Hour with the Pro’s” this Thursday.
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Editors’ Picks
EUR/USD jitters post-Fed with NFP Friday over the horizon
EUR/USD cycled familiar territory on Wednesday after the US Federal Reserve held rates as many investors had expected. However, market participants were hoping for further signs of impending rate cuts from the US central bank.
GBP/USD rises above 1.2500 on weaker Dollar
The resumption of the upward pressure sends GBP/USD back above 1.2500 the figure in response to increasing selling pressure hurting the Greenback.
Japanese Yen struggles to gain momentum, eyes on Fed decision
The Japanese Yen continues to be undermined by the divergent BoJ-Fed policy expectations. Bets that the Fed will keep rates higher for longer, lift the USD, and lend support to USD/JPY. The risk-off impulse underpins the safe-haven JPY and caps gains ahead of the FOMC decision.
Editors’ Picks
AUD/USD holds positive ground above 0.6500 on weaker US Dollar
The AUD/USD pair extends recovery around 0.6525 during the early Asian session on Thursday. The Federal Reserve held its interest rates steady at 5.25–5.50% at its meeting on Wednesday, citing a “lack of further progress” in getting inflation back down to its 2% target.
EUR/USD jitters post-Fed with NFP Friday over the horizon
EUR/USD cycled familiar territory on Wednesday after the US Federal Reserve held rates as many investors had expected. However, market participants were hoping for further signs of impending rate cuts from the US central bank.
Gold prices skyrocketed as Powell’s words boosted the yellow metal
Gold prices rallied sharply above the $2,300 milestone on Wednesday after the Federal Reserve kept rates unchanged while announcing that it would diminish the pace of the balance sheet reduction.
Solana price dumps 21% on week as round three of FTX estate sale of SOL commences
Solana price is down almost 5% in the past 24 hours and over 20% in the last seven days. The dump comes as the broader crypto market contracts with Bitcoin price leading the pack as it slides below the $58,000 threshold to test the Bull Market Support Band Indicator.
The FOMC whipsaw and more Yen intervention in focus
Market participants clung to every word uttered by Chair Powell as risk assets whipped around in a frenetic fashion during the afternoon US trading session.
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