Merlin and Jasmine talk about how traders should be using the grid, which details key supply and demand levels for 20 trading instruments. This tool is tremendous at shortening a traders learning curve and helping them apply the patented core strategy at Online Trading Academy. Jasmine and Merlin also look at the Canadian Dollar, Gold, and Crude Oil.
Editors’ Picks
EUR/USD hangs close to 1.1650 ahead of US jobs data
EUR/USD stays better bid near 1.1650 in the European session on Tuesday. The prospect of a US interest rate cut on Wednesday keeps the US Dollar under check, underpinning the pair. In the meantime, traders look to the US ADP Employment Change four-week average and Jolts Job Openings reports for September and October.
GBP/USD holds range above 1.3300, awaits US employment data
GBP/USD attracts some buyers following the previous day's two-way directionless price move and holds steady above the 1.3300 mark in European trading on Tuesday. The pair, however, lacks strong follow-through buying as traders opt to wait on the sidelines ahead of US employment data.
USD/JPY remains capped by 156.00 amid renewed USD selling
USD/JPY is consolidating its uptick to near 156.00 in the Asian session on Tuesday. The US Dollar faces renewed selling pressure amid a cautious mood and dovish Fed expectations. Meanwhile, traders assess the potential impact of a strong earthquake in Japan. The immediate focus now is on BoJ Governor Ueda's speech.
Editors’ Picks
EUR/USD hangs close to 1.1650 ahead of US jobs data
EUR/USD stays better bid near 1.1650 in the European session on Tuesday. The prospect of a US interest rate cut on Wednesday keeps the US Dollar under check, underpinning the pair. In the meantime, traders look to the US ADP Employment Change four-week average and Jolts Job Openings reports for September and October.
GBP/USD holds range above 1.3300, awaits US employment data
GBP/USD attracts some buyers following the previous day's two-way directionless price move and holds steady above the 1.3300 mark in European trading on Tuesday. The pair, however, lacks strong follow-through buying as traders opt to wait on the sidelines ahead of US employment data.
Gold touches one-week low; downside seems cushioned amid Fed rate cut bets
Gold trades with a negative bias for the third straight day and drops to a one-week low, around the $4,170 region, during the early European session. The downtick lacks any obvious fundamental catalyst and could be attributed to some repositioning trade ahead of the highly anticipated FOMC policy meeting. Investors will keep a close eye on updated economic projections.
Chainlink holds firm as reserves hit 16-month low
Chainlink began the week on a stable footing, trading around $13.70 at the time of writing on Tuesday, holding above a key support zone. Growing ecosystem activity from declining exchange reserves to a wave of new integrations continues to strengthen the network’s fundamental outlook, signalling a rally in the upcoming days.
Big week ahead: Fed poised to cut as Canada, Australia and Switzerland hold steady
This week we get a lot of data releases but the biggie is all those central bank decisions. Canada, Australia and Switzerland are expected to stay on hold, but the Fed is expected to cut.
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